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NIC Bank Kenya Plc was incorporated in 2016 as a result of the corporate reorganization of NIC Bank Group. Prior to January 2017, NIC Bank Group operated both as a licensed bank and a holding company for its subsidiaries. [7] On 12 September 2016, NIC Bank Group announced its intention to incorporate a new wholly owned subsidiary, NIC 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]
This is the Central Bank of Kenya's list of Licensed Microfinance Banks, updated in August 2024. [3] Caritas Microfinance Bank Ltd; Branch Microfinance Bank Ltd; Choice Microfinance Bank Ltd; Daraja Microfinance Bank Ltd; Faulu Microfinance Bank Ltd; Kenya Women Microfinance Bank PLC; Rafiki Microfinance Bank Ltd; Lolc Kenya Microfinance Bank PLC
In May 2009, NIC Bank, a large financial services provider based in Nairobi and traded on the Nairobi Stock Exchange, took a 51 percent shareholding position in SFCB. [7] 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.
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 ...
The following year, I&M Bank acquired Biashara Bank of Kenya Limited, expanding I&M's branch network, client base and assets under management. In 2007 DEG and PROPARCO, two International development financial institutions, invested approximately US$4.5 million to acquire 11.96 percent shareholding in I&M Bank. That shareholding was later ...
Commercial Bank of Africa was established in 1962 in Dar es Salaam, Tanzania as a subsidiary of Swiss-based Société Financière pour les Pays d'Outre-Mer (SFOM). The SFOM consortium included BanqueNationale de Paris, Bank Bruxelles Lambert, Commerz Bank and Bank of America. Branches of the bank were established in Nairobi and Mombasa, Kenya.
NCBA Bank Rwanda, formerly Commercial Bank of Africa (Rwanda), is a commercial bank in Rwanda. [4] NCBA Bank Rwanda is one of the Kenyan-owned bank subsidiaries to launch operations in Rwanda. [ 5 ] The bank is a subsidiary of the NCBA Group Plc , a financial services group with headquarters in Nairobi , Kenya , with subsidiaries in Kenya ...