KCB Group Limited

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KCB Group Limited
Traded as KN: KCB
Industry Banking
Founded 1896; 123 years ago (1896)
Headquarters Kencom House, Moi Avenue
Nairobi, Kenya
Key people
Andrew Wambari Kairu
Joshua Oigara
Chief Executive Officer
Products Credit cards, loans, mortgages, investments
Revenue Increase US$866.7 Million (KES:86.67 Billion) (2017)[2]
Increase US$197 Million (KES:19.70 Billion) (2017)[2]
Total assets Increase US$6.47 Billion (KES:646.7 Billion) (2017)[2]
Number of employees
6,483 (2017)[2]
Website www.kcbbankgroup.com

KCB Group Limited, also known as the KCB Group, is a financial services holding company based in the African Great Lakes region. The Group's headquarters are in Nairobi, Kenya, with its subsidiaries 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.[3]


As of December 2017, the Group had assets of US$6.47 Billion (KES:646.7 Billion) with shareholders' equity of US$1.06 Billion (KES:US$105.97 billion).[2] In July 2015, news media reported that the group was pursuing expansion plans into the Democratic Republic of the Congo, Ethiopia, and Mozambique.[4]


The history of Kenya Commercial Bank Limited dates back to July 1896, when its predecessor, the National Bank of India (NBI), opened a branch in Mombasa to handle the business that the port was attracting at that time.

In 1958, Grindlays Bank merged with the NBI to form the National and Grindlays Bank (NGB). Upon independence, the government of Kenya acquired 60 percent shareholding in NGB in an effort to bring banking closer to the majority of Kenyans. 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.

KCB Tanzania Limited was incorporated in Dar es Salaam in 1997. Since then, KCB has opened 11 more branches in Tanzania. In May 2006, KCB extended its operations to South Sudan following licensing of KCB Sudan. This subsidiary now has over 20 branches in that country. In November 2007, KCB Bank Uganda Limited was opened. KCB currently has 14 branches in Uganda. In December 2008, KCB Rwanda began operations with one branch at Kigali. There are currently 11 branches spread out in the country. In 2012, KCB registered a subsidiary in Burundi, KCB Burundi, becoming the first bank in the region to be presented in all the African Great Lakes countries.

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-organisation converted KCB Group into a non-trading holding company that owns both banking and non-banking subsidiary companies.[5]


The shares of KCB Group are listed on the Nairobi Securities Exchange under the symbol KCB. The Group's stock is cross listed on the Dar es Salaam Stock Exchange, the Rwanda Stock Exchange, and the Uganda Securities Exchange.[6]

As of 31 December 2017, the ten largest shareholders in the KCB Group were as listed below:[2]

KCB Group Limited Stock Ownership
Rank Name of Owner Percentage Ownership
1 Permanent Secretary to the Treasury of Kenya 17.53
2 National Social Security Fund (Kenya) 5.64
3 Standard Chartered Nominees A/C 9867 2.25
4 Standard Chartered Nominees Limited A/C KE23221 2.07
5 CFC Stanbic Nominees Limited A/C NR3530153-1 2.02
6 Standard Chartered Kenya Nominee A/C KE17682 1.91
7 Standard Chartered Kenya Nominees Limited A/C KE002742 1.72
8 Standard Chartered Nominees Limited A/C KE002382 1.51
9 Standard Chartered Nominees A/C KE9688 1.49
10 Standard Chartered Kenya Nominees Non-Resd. A/C 9069 1.18
11 Other Shareholders 62.69
Total 100.00


The chairman of the bank's board of directors is Andrew Wambari Kairu.[1] Joshua Oigara is both the managing director and the chief executive officer of the bank.[7]

Member companies

Branches of subsidiaries

KCB Subsidiary No. of Branches
KCB Bank Burundi 2
KCB Bank Kenya 175
KCB Bank Rwanda 11
KCB Bank South Sudan 20
KCB Bank Tanzania 14
KCB Bank Uganda 14

Kenya Commercial Bank Plaza

In December 2010, construction of a new headquarters building began in the Upper Hill section of Nairobi. Construction is expected to take approximately two years, with anticipated occupancy beginning in January 2013. The new Kenya Commercial Bank Plaza (KCB Plaza) be 21 storeys tall, having about 15,960 square metres (171,800 sq ft) of rentable office space and enough parking for about 450 cars. The owners of the building are the Kenya Commercial Bank Employee Pension Fund, which is funding the KES:2.1 billion construction.[8]

See also


  1. ^ a b Alushula, Patrick (25 October 2018). "KCB appoints new board chairman". Business Daily Africa. Nairobi. Retrieved 26 October 2018.
  2. ^ a b c d e f KCB Bank Group (30 April 2018). "Integrated-Report of Kenya Commercial Bank Group Plc. for the Twelve Months Ended 31 December 2017" (PDF). Nairobi: KCB Bank Group. Retrieved 26 October 2018.
  3. ^ Managing Editor (22 December 2015). "Kenya Commercial Bank Group Analysis". Nairobi: Kenyanwallstreet.com. Retrieved 20 April 2016.
  4. ^ Njini, Felix; Ombok, Eric (30 July 2015). "Kenya Commercial Bank to Raise Money for Expansion, Projects". Bloomberg News. Retrieved 21 April 2016.
  5. ^ Wahito, Margaret (4 January 2016). "KCB forms holding company, unbundles operating entities". Nairobi: 98.4 Capital FM. Retrieved 26 October 2018.
  6. ^ Afandi, Christine (2008-06-16). "Tanzania: KCB is Now Listed At the Dar Bourse". The East African (Nairobi). Retrieved 2017-08-23.
  7. ^ Waithaka, James (9 March 2015). "Kenya: KCB Directors Raise Own Pay By Sh100 Million". The Star (Kenya) via AllAfrica.com. Nairobi.
  8. ^ "KCB staff fund to put up Sh2.1bn office block". Daily Nation. Retrieved 2017-08-22.

External links

  • KCB Group Website
  • Nairobi Stock Exchange Website
  • December 2010 Financial Data
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