February 01, 2015 3:58 AM ET

Banks

Company Overview of Consolidated Bank of Kenya Limited

Company Overview

Consolidated Bank of Kenya Limited offers commercial banking services in Kenya. Its products include savings account, current account, fixed deposits, foreign account, personal accident insurance cover, and loans and overdrafts. The bank also offers services, such as ATM, e-cell banking, forex business, money transfer, and custodial services. It operates branches in Nairobi, Mombasa, and various towns in the Mt. Kenya region, Kenya. The company was incorporated in 1989 and is headquartered in Nairobi, Kenya.

Consolidated Bank House

Koinange Street

PO Box 51133 - 00200

Nairobi,  

Kenya

Founded in 1989

Phone:

254 20 321 5000

Fax:

254 20 340213

Key Executives for Consolidated Bank of Kenya Limited

Chief Executive Officer and Director
Head of Credit
Ag Head of Operations
Deputy Managing Director
Head of Strategy
Compensation as of Fiscal Year 2014.

Consolidated Bank of Kenya Limited Key Developments

Kenya To Sell Consolidated Bank of Kenya Via IPO Or To Investors

The Treasury of Kenya is seeking to table before the Cabinet its plans to sell Consolidated Bank of Kenya Limited after receiving a report on the proposed transaction from the Privatisation Commission. Henry Rotich, Finance Secretary of Kenya, said that the sale could involve an initial public offering (IPO), strategic investor(s) or both. "We are preparing a cabinet memo to implement the advice of the privatisation committee,” he added.

Government Mulls Privatization

Government is seeking to sell stake in sugar companies and state agencies. Sugar Companies include Miwani Sugar Company, Muhoroni Sugar Company, South Nyanza Sugar Co. Ltd., Chemelil Sugar Company Limited, and Nzoia Sugar Company Limited. Other state agencies to be privatized include Kenya Pipeline Company Ltd., New Kenya Co-operative Creameries Ltd., Consolidated Bank of Kenya Limited and Kenya Meat Commission. Kenya Wines Agencies Limited and Development Bank of Kenya Ltd. are also included. The Privatization Commission, currently headquartered at the National Treasury and advises the government on all divestiture plans, will be disbanded under a new proposal presented to President Uhuru Kenyatta. The taskforce on state corporations has recommended that the functions of the Privatization Commission be integrated into a new entity that will be known as the Government Investment Corporation (GI)(GIC). All the current privatization programmes will be referred to the new body to determine how best to proceed with the programme. The report says, "It is proposed that all commercial strategic corporations will henceforth be managed by GI." The report added, "As far as is possible, there should be active efforts to grow the value of existing assets before disposal and that the proposed GIC be empowered to make government investment decisions on portfolio basis and to hold the government shares in government linked companies with a view to creating value."

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Recent Private Companies Transactions

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Date
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No transactions available in the past 12 months.
 

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