History of KCB Group
The history of Kenya Commercial Bank Limited dates back to July 1896, when its predecessor, the National Bank of India opened a branch in Mombasa to handle the business that the port was attracting at that time. In 1958, Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank. Upon independence, the Government of Kenya acquired 60% shareholding in National & Grindlays Bank in an effort to bring banking closer to the majority of Kenyans. In 1970, the Government acquired 100% of shareholding in the Bank to take full control of the largest commercial bank in Kenya. National and Grindlays Bank was then renamed Kenya Commercial Bank.
In 1972, Kenya Commercial Bank acquired Savings & Loan (K) Ltd, which specialized in the provision of mortgage finance. Our regional network totals to over 230 branches, with over 170 branches all over Kenya.
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 Southern Sudan following licensing of KCB Sudan. This subsidiary now has 20 branches in Southern Sudan. 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. KCB recently opened a new Branch in Burundi; we are the first branch in the region to be presented in all the East Africa Countries.
In 1988, the first 20% of the Government’s shares in the company were sold through a public offering on the Nairobi Stock Exchange. The Government has over the years reduced its shareholding to 23.6%. In the rights issue of 2010, the Government further reduced its shareholding to 17.75%.
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