National Bank of Kenya
Public | |
Traded as | KN: NBK |
Industry | Financial Services |
Founded | 1968 |
Headquarters | Nairobi, Kenya |
Key people |
Mohamed A. Hassan Chairman[1] Wilfred Musau Acting Managing Director[2] |
Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards |
Revenue | Aftertax:US$11.6 million (KES:1.15 billion) (2015)[2] |
Total assets | US$1.07 billion (KES:92.5 billion) (2013) |
Number of employees | 1,079 (2014)[3] |
Website | Homepage |
National Bank of Kenya (NBK), also known as National Bank, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank, and national banking regulator.[4]
Overview
NBK is a large financial services provider in Kenya, serving individuals, small-to-medium companies and businesses (SMEs) and large corporations. Headquartered in Nairobi, the bank owns one subsidiary company: NatBank Trustee and Investment Services Limited. As of December 2013, National Bank of Kenya's asset base was valued at approximately US$1.07 billion (KES:92.5 billion), with shareholders' equity valued at about US$137.2 million (KES:11.85 billion).[5] At that time, National Bank of Kenya was ranked number eleven, by assets, among the forty-three commercial banks licensed in the country then.[6] The stock of National Bank of Kenya is listed on the Nairobi Stock Exchange, where it trades under the symbol: NBK.[7]
History
The bank was established in 1968 as a 100% government-owned financial institution. In 1994, the Kenyan Government reduced its shareholding to 68% by selling 32% shareholding to the public. The government further divested from NBK over the years, until its present shareholding of 22.5%, as of August 2014.[8] Following 12 years of poor financial performance, the bank became profitable again in 2010, paying out an annual dividend every year since.[9]
Subsidiaries
The bank owns the following subsidiary companies in which it has 100% shareholding
- Natbank Trustee and Investment Services Limited: Nairobi,
- Kenya National Capital Corporation Limited: Nairobi,
- NBK Insurance Agency Limited: Nairobi,
Ownership
As of December 2013, the stock of National Bank of Kenya is owned by the following corporate entities and individuals:[10]
Rank | Name of Owner | Percentage Ownership |
---|---|---|
1 | National Social Security Fund (Kenya) | 48.05 |
2 | Kenya Ministry of Finance | 22.50 |
3 | NIC Custodial Services | 0.41 |
4 | Equity Nominee Limited:00084 | 0.37 |
5 | Equity Nominee Limited:00111 | 0.34 |
6 | Standard Chartered Nominees:9098AJ | 0.34 |
7 | Ephraim Mwangi Maina | 0.33 |
8 | Craysell Investments Limited | 0.32 |
9 | Jubilee Insurance Company of Kenya Limited | 0.29 |
10 | David Mwangi Ndegwa | 0.25 |
11 | Over 49,200 Other Investors | 26.79 |
Total | 100.00 |
See also
References
- ↑ NBK, . "National Bank of Kenya: The Board of Directors". National Bank of Kenya (NBK). Retrieved 6 August 2014.
- 1 2 Ngugi, Brian (25 April 2016). "National Bank of Kenya confirms sacking of former CEO". Business Daily Africa. Nairobi. Retrieved 25 April 2016.
- ↑ Munda, Constant (27 March 2014). "Kenya: National Bank to Shed Off Staff to Reduce Wage Bill". The Star (Nairobi). Retrieved 6 August 2014.
- ↑ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 6 August 2014.
- ↑ NBK, . "Abridged, Audited 31 December 2013 Financial Statement" (PDF). National Bank of Kenya (NBK). Retrieved 6 August 2014.
- ↑ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 6 August 2014.
- ↑ NSE, . "Nairobi Securities Exchange: Listed Companies". Nairobi Securities Exchange (NSE). Retrieved 6 August 2014.
- ↑ NBK, . "History of National Bank of Kenya". National Bank of Kenya (NBK). Retrieved 6 August 2014.
- ↑ Munda, Constant (28 March 2014). "National Bank of Kenya Shareholders Receive Dividend Raise". The Star (Nairobi). Retrieved 6 August 2014.
- ↑ NBK, . (March 2014). "National Bank of Kenya Audited 31 December 2013 Annual Report: List of 10 Largest Shareholders" (PDF). National Bank of Kenya (NBK). Retrieved 6 August 2014.
External links
- Official website
- Central Bank of Kenya website
- Profile at myStocks
- National Bank Sale To Investor Dropped In New Funding Plan