National Bank of Kenya
 |
|
| Public | |
| Traded as | KN: NBK |
| Industry | Financial Services |
| Founded | 1968 |
| Headquarters | Nairobi, Kenya |
|
Key people
|
Mohamed A. Hassan Chairman[1] Munir Sheikh Ahmed Managing Director[2] |
| Products | Loans, Savings, Checking, Investments, Debit Cards, Credit Cards |
| Revenue |  Aftertax:US$12.6 million (KES:1.090 billion) (2013) |
| 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[edit]
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[update], 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[edit]
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[edit]
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[edit]
As of December 2013[update], 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[edit]
References[edit]
- ^ NBK, . "National Bank of Kenya: The Board of Directors". National Bank of Kenya (NBK). Retrieved 6 August 2014.
- ^ News, . (7 June 2012). "National Bank of Kenya Gets New Boss To Replace Marambii". Daily Nation (Nairobi). Retrieved 6 August 2014.
- ^ 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[edit]
- Official website
- Central Bank of Kenya website
- Profile at myStocks
- National Bank Sale To Investor Dropped In New Funding Plan
