The National Bank Of Kenya (NBK), Also Known As The 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 The National Banking Regulatory Authority. Since September 2019, The Bank Has Become A Wholly Owned Subsidiary Of The Commercial Banking Group Of Kenya.
Overview
NBK Is A Large Financial Services Provider In Kenya, Serving Individuals, Small And Medium-sized Companies And Enterprises (SMEs), As Well As Large Corporations. Headquartered In Nairobi, The Bank Has A Subsidiary: NatBank Trustee And Investment Services Limited. As Of December 2018, The Asset Base Value Of The National Bank Of Kenya Was Approximately $1.122 Billion (115.143 Billion Kenyan Shillings) And The Shareholders' Equity Value Was Approximately $67.60 Million (6.936 Billion Kenyan Shillings).] Following The Acquisition Of NBK Shares By KCB Group In September 2019, NBK's Shares Were Delisted From The Nairobi Stock Exchange On September 16, 2019.
History
The Bank Was Established In 1968 As A 100% State-owned Financial Institution Group. In 1994, The Kenyan Government Reduced Its Shareholding Ratio To 68% By Selling 32% Of Its Shares To The Public. Over The Years, The Government Has Further Divested From NBK And Its Shareholding Ratio Stood At 22.5% As Of April 2019. After 12 Years Of Poor Financial Performance, The Bank Was Profitable Again In 2010 And Has Paid Dividends Every Year Since Then.
In April 2019, KCB Bank Kenya Limited, Kenya's Largest Commercial Bank, Announced Its Intention To Acquire 100% Of The Assets And Liabilities Of National Bank Of Kenya, Pending Approval From Shareholders And Regulators. The Acquisition Was Completed On September 16, 2019
