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Commercial Bank of Africa (Kenya): Nairobi, Kenya – 100% shareholding - A commercial bank in Kenya, serving individuals and businesses. This is the flagship company of the group. Commercial Bank of Africa (Tanzania): Dar es Salaam, Tanzania – 100% shareholding - A commercial bank in Tanzania, serving both individuals and businesses.
In December 2018, Commercial Bank of Africa Group (CBA Group) announced that it would be merging with NIC Group creating the Kenya's third-biggest bank. The Transaction was approved by the Kenyan regulators and shareholders in April 2019. [5] [6] On 27 September 2019, the Central Bank of Kenya approved the merger, effective 1 October 2019 ...
2. Best for Banking and Investing Combined: Bank of America Mobile Banking App. Cost: Free Compatibility: iOS/Android Why GOBankingRates chose this app: This secure app offers access to your Bank ...
In December 2018, NIC Group announced that it would be merging with Commercial Bank of Africa Group (CBA) creating Kenya's third-biggest bank. [11] The merger involved the transfer of 100 percent of the shares of CBA Group by its shareholders to NIC Group in exchange for 53 percent of the newly formed group making the deal a reverse merger. [12]
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2010s, this has become the most common way that ...
In November 2015, the CBA Group, Kenya's largest privately owned financial services provider publicly announced their intention to enter the Rwandan market. [6] The group applied for a banking licence from the Rwanda authorities. [6] In December 2016, the National Bank of Rwanda issued CBA Rwanda with a micro-finance banking licence.
During 2010, the Tanzanian subsidiary successfully re-branded to NIC Bank Tanzania. [8] [9] Commercial Bank of Africa was founded in 1962 in Dar es Salaam. Branches were soon opened in Nairobi and Mombasa, Kenya and in Kampala, Uganda. When Tanzania nationalized private banks in 1967, the bank moved its headquarters to Nairobi.
As of 31 December 2023, the total assets of the bank were valued at UGX:854 billion (US$227.324 million). [2] The bank is a wholly owned subsidiary of the NCBA Group Plc, headquartered in Nairobi, Kenya, with subsidiaries in Kenya, Tanzania, Rwanda, Ivory Coast and Uganda. [4]
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