Prime Bank (Kenya)
| Private | |
| Industry | Financial Services |
| Founded | 1992 |
| Headquarters | Nairobi, Kenya |
|
Key people
|
R.C. Kantaria Chairman Bharat Jani Managing Director |
| Products | Loans, Checking, Savings, Internet banking, Mobile banking, Investments, Debit Cards |
| Revenue |  Aftertax:US$16.6 million (KES:1.44 billion) (2013) |
| Total assets | US$570 million (KES:49.5 billion) (2013) |
| Website | Homepage |
Prime Bank (Kenya) Limited (PBKL), commonly known as Prime Bank Kenya, but also referred to as Prime Bank (Kenya), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by Central Bank of Kenya (CBK), the central bank and national banking regulator.[1]
Contents
Overview
The bank is a medium-sized retail bank that caters to both individuals and corporate clients. As of December 2014[update], the bank's total asset base was estimated at approximately US$570 million (KES:49.5 billion), with shareholders' equity of about US$67 million (KES:5.816 billion).[2] At that time, the bank ranked number 16, by assets, out of 43 licensed commercial banks in Kenya.[3]
Subsidiaries
The bank has three subsidiaries:
- Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya).
- First Merchant Bank – A retail bank based in Blantyre, Malawi – Prime Bank (Kenya) has a 22.48% shareholding in First Merchant Bank. 11.24% is held directly by PBKL while the remaining 11.24% is held through its 100% subsidiary, PCCL.[4]
- Capital Bank – A commercial bank based in Gaborone, Botswana, is 51% owned by First Merchant Bank of Malawi, in which Prime Bank (Kenya) has 22.48% shareholding. Therefore, Prime Bank (Kenya) owns 11.46% of Capital Bank of Botswana.
Branch network
As of August 2014[update], the bank maintains a network of 19 branches in Kenya's major urban centers.[5]
Ownership
The stock of the bank is privately held. The detailed shareholding in Prime Bank (Kenya) is not publicly known.
Governance
R. C. Kantaria, a non-executive director of the bank, serves as the Chairman of the seven-member board of directors. Bharat Jani is the Managing Director of Prime Bank (Kenya).
See also
References
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