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Kingdom Bank Limited (Kenya)

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Kingdom Bank Limited (Kenya)
TypeSubsidiary of Cooperative Bank of Kenya
IndustryFinancial services
Founded22 November 1999; 26 years ago (1999-11-22)
HeadquartersNairobi, Kenya
Key people
Margaret Karangatha
(chairperson)
Anthony Mburu
(chief executive officer)[1]
ProductsLoans, transaction accounts, savings, investments, debit cards
Total assetsKES:12.5 billion (US$117 million) (March 2018)[2]
Websitehttps://www.kingdombankltd.co.ke/

Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.[3]

Location

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The headquarters of the bank are located at Kingdom Towers (formerly Jamii Bora Towers), along Argwings Kodhek Road, in Kilimani, Nairobi,[4] approximately 6 kilometres (4 mi), by road, west of the city centre.[5] The geographical coordinates of the bank's headquarters are:01°17'35.0"S, 36°47'23.0"E (Latitude:-1.293056; Longitude:36.789722).[6]

History

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The bank was founded as a charitable trust by 50 destitute families on the streets of Nairobi, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank. In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors.[7]

In March 2020, Co-operative Bank of Kenya, the country's fourth-largest commercial bank, with nearly 10 percent market share of national banking assets, proposed the acquisition of Jamii Bora Bank.[8]

Kingdom Bank was finally acquired and is a subsidiary of the Co-operative Bank of Kenya since its acquisition in August 2020.

The bank has a network of 29 branches[9], and is expanding.[10]

Assets

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In March 2018, the bank's total assets were valued at approximately KSh12.5 billion (US$117 million).[2]

As of December 2023, the bank had total assets of Ksh 36.7 billion, profit before tax amounting to Ksh 1.08 billion, with interest income reaching Ksh 3.7 billion and non-interest income standing at Ksh 533.7 million.[citation needed]

Ownership

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Jamii Bora Bank is privately owned. A rights issue of US$4 to US$6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank.[11] Following the acquisition of 90 percent shareholding in the stock of the bank by Cooperative bank of Kenya, the bank ownership was as depicted in the table below, as of August 2020.[12]  

Kingdom Bank Limited (Kenya) stock ownership
RankName of ownerPercentage ownership in 2012Percentage ownership in 2020
1Asterisk Holdings20.082.01
2ShoreCap II Limited15.251.53
3Jamii Bora Scandinavia AB12.171.22
4Catalyst JBB Holdings LLC9.650.96
5Nordic Micro Cap Investments7.040.70
6Cornerstone Enterprises Limited4.690.47
7ESOP4.370.44
8Other investors26.752.68
9Cooperative Bank of Kenya0.0090.00
Total100.00100.00

Acquisition

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In March 2020, Co-operative Bank of Kenya, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process required regulatory approvals.[8][13] On 7 August 2020, Cooperative Bank received all the necessary regulatory approvals to acquire 90 percent shareholding in Jami Bora Bank.[14] On 25 August 2020, the bank re-branded to Kingdom Bank Kenya Limited.[1][15]

Branches

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As of February 2026, the bank maintained a network of branches at the following locations:[16]

  1. Bungoma Branch[17]: Yogi Building, Moi Avenue Road, Bungoma
  2. Eldoret Branch: Corner House, Kenyatta Street, Eldoret
  3. Embu Branch[18]: Njue Plaza, Embu-Nairobi Highway, Embu
  4. Gikomba Branch[19]: Kombo Munyiri Road, Nairobi
  5. Industrial Area Branch: Lunga Lunga Square, Along Lunga Lunga Rd. Nairobi
  6. Kariobangi Branch[20]: Marphic Ark Hotel, Kariobangi, Nairobi
  7. Kawangware Branch: Mbugua Plaza Junction, Kawangware, Nairobi
  8. Kayole Branch: Pinnacle Centre, Spine Road, Kayole, Nairobi
  9. Kiambu Branch: Githunguri Nyakinywa Women Group Building, Kiambu
  10. Kikuyu Branch: Red Brick House, Kikuyu
  11. Kilimani Branch: Kingdom Bank Towers, Argwings Kodhek Road, Nairobi
  12. Kisii Branch: Mocha Place, Kisii-Kisumu Road, Kisii
  13. Kisumu Branch: Jubilee House, Oginga Odinga and Angawa Street, Kisumu
  14. Kitale Branch[21]: GH Tanna Building, Kenyatta Street, Kitale
  15. Kitengela Branch: Newton House, Kitengela
  16. Kirinyaga Road Branch: Bits House, River Road, Nairobi
  17. Koinange Branch: Winsor House, Muindi Mbingu Street, Nairobi
  18. Machakos Branch: Kingdom Bank Building, Mbolu Malu Road, Machakos
  19. Meru Branch[22]: Ntima Building, Tom Mboya Street, Meru
  20. Mombasa Branch: Khamisi Building, Moi Avenue, Mombasa
  21. Mtwapa Branch: Malindi Highway, Mtwapa Bridge, Mzambarauni, Mtwapa[23]
  22. Naivasha Branch: KEI Plaza, Biashara Rd, Naivasha
  23. Nakuru Branch: Light House, Kenyatta Avenue, Nakuru
  24. Nyeri Branch: Frontline Building, Gakere Road, Nyeri
  25. Ongata Rongai Branch: Brisma Towers, Ongata Rongai, Nairobi
  26. Thika Branch: Kenyatta Avenue, Thika
  27. Tom Mboya Branch[24]: Nature House, Tom Moya Street, Nairobi
  28. Utawala Branch: Mashariki Mall, Utawala, Nairobi
  29. Wangige Branch: Wangige Shopping Centre, Walokana Petrol Station, Kiambu County

Subsidiaries

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Kingdom Bank has the following subsidiaries[25]:

  • Kingdom Bancassurance Intermediary Limited (Formerly Jamii Bora Insurance Agency Limited)
  • Kingdom Leasing Limited (Formerly Jamii Bora Leasing Limited)

Governance

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The five-person board of directors is chaired by Margaret Karangatha. Other board members are Gideon Muriuki, the Cooperative Bank Group managing director, Macloud Malonza, Julius Sitienei and Anthony Mburu, the Kingdom Bank CEO.[1][15]

See also

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References

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  1. 1 2 3 Patrick Alushula (25 August 2020). "Jamii Bora renamed, gets new CEO after acquisition by Co-operative Bank". Business Daily Africa. Nairobi. Retrieved 25 August 2020.
  2. 1 2 Jackson Okoth (7 January 2020). "KSh1.4 billion Acquisition of Jamii Bora Bank on Back Burners". Nairobi: The Kenyan Wall Street. Retrieved 25 August 2020.
  3. ↑ Central Bank of Kenya (January 2020). "Directory of Licenced Commercial Banks, Mortgage Finance Institutions And Authorized Non-Operating Holding Companies" (PDF). Nairobi: Central Bank of Kenya. Archived from the original (PDF) on 23 January 2022. Retrieved 25 August 2020.
  4. ↑ Jamii Bora Bank (June 2020). "Contact Us". Nairobi: Jamii Bora Bank. Retrieved 25 August 2020.
  5. ↑ "Road Distance Between Central Nairobi And Jamii Bora Bank, Kilimani" (Map). Google Maps. Retrieved 25 August 2020.
  6. ↑ "Location of headquarters of Kingdom Bank Kenya Limited (Formerly Jamii Bora Bank)" (Map). Google Maps. Retrieved 25 August 2020.
  7. ↑ James Anyanzwa (30 March 2010). "City Finance Buys Out Jamii Bora". The Standard (Kenya). Nairobi. Retrieved 25 August 2020.
  8. 1 2 Margaret Njugunah (11 March 2020). "Co-op Bank to acquire struggling Jamii Bora after CBA settled for NIC". Nairobi: 98.4 Capital FM. Retrieved 25 August 2020.
  9. ↑ "Kingdom Bank Opens Naivasha Branch to tap Trade, Agriculture Growth". The Standard. Retrieved 26 March 2026.
  10. ↑ https://www.kingdombankltd.co.ke/about-kingdombank/
  11. ↑ George Ngigi (6 December 2011). "Jamii Bora Bank targets mid-tier status in upgrade". Business Daily Africa. Nairobi. Retrieved 25 August 2020.
  12. ↑ Patrick Alushula (7 August 2020). "Treasury, CBK give nod for Jamii Bora buyout by Co-op Bank". Business Daily Africa. Nairobi. Retrieved 25 August 2020.
  13. ↑ Paul Wafula (11 March 2020). "CBK welcomes takeover of Jamii Bora by Co-op Bank". Daily Nation. Nairobi. Retrieved 12 March 2020.
  14. ↑ Miriam Wangui (7 August 2020). "Regulator Approves Co-op Bank's 90% Stake Acquisition in Jamii Bora". Nairobi: The Kenyan Wall Street. Retrieved 25 August 2020.
  15. 1 2 Victor Amadala (25 August 2020). "Jamii Bora is now Kingdom Bank, new CEO appointed". The Star (Kenya). Nairobi. Retrieved 25 August 2020.
  16. ↑ "The Branches of Kingdom Bank Kenya Limited 2026". Nairobi: Jamii Bora Bank. February 2026. Retrieved 25 August 2020.
  17. ↑ "Kingdom Bank 24th Opens 24th Branch".
  18. ↑ Mutua, Selina. "Kingdom Bank opens new Embu branch to power farmers and traders". The Standard. Retrieved 26 March 2026.
  19. ↑ "Kingdom Bank Opens New Branch in Gikomba - Kenyans.co.ke". www.kenyans.co.ke. 23 April 2024. Retrieved 26 March 2026.
  20. ↑ Dianah, Esther. "Bank opens its 25th branch in Kariobangi". The Standard. Retrieved 26 March 2026.
  21. ↑ "Kingdom Expands to Kitale".
  22. ↑ Ngugi, Brian. "Kingdom Bank expands reach with Meru branch". The Standard. Retrieved 26 March 2026.
  23. ↑ Wachira Mwangi (8 September 2013). "Jamii Bora Deepens Reach With Mtwapa Branch". Business Daily Africa. Nairobi. Archived from the original on 26 July 2014. Retrieved 22 July 2014.
  24. ↑ "Kingdom Bank expands footprint with new Tom Mboya Street branch". Citizen Digital. 17 November 2025. Retrieved 26 March 2026.
  25. ↑ "Kingdom Bank Annual Report 2021" (PDF). 21 December 2021.
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