Name: KCB GROUP LIMITED
Item: KCB GROUP LIMITED
Author: Admin

KCB Group Limited, referred to also as the KCB Group, is a financial services institution based in the African. The Group’s main offices are in Nairobi, Kenya, with its divisions being KCB Bank Kenya Limited, KCB Bank Burundi Limited, KCB Bank Rwanda Limited, KCB Bank South Sudan Limited, KCB Bank Tanzania Limited, and KCB Bank Uganda Limited.
In 1958, Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank (NGB). In 1970, the government acquired 100 percent of the shareholding in NGB to take full control of the largest commercial bank in Kenya. NGB was then renamed Kenya Commercial Bank (KCB). In 1972, KCB acquired Savings & Loan Kenya Limited, which specialized in mortgage finance.
In 1988, the first 20 percent of the government’s shares in the company were sold through an Initial public offering on the Nairobi Securities Exchange. The government has over the years reduced its shareholding to 23.6 percent. In the rights issue of 2010, the government further reduced its shareholding to 17.31 percent.
Before 2015, KCB was both a licensed bank and a holding company for its subsidiaries. In compliance with the Kenya Finance Act No. 57 of 2012, KCB Group announced in April 2015 its intention to incorporate a new, wholly owned subsidiary, KCB Bank Kenya Limited, to which it would transfer its Kenyan banking business, assets, and liabilities. The re-organization converted KCB Group into a non-trading holding company that owns both banking and non-banking subsidiary companies.

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KCB GROUP LIMITED

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