The bank is a small retail bank, that focuses on meeting the needs of large corporations and high-net-worth individuals. As of December 2013[update], the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya.[3] as of December 2020[update], the bank's total assets were valued at about US$100 million (KES:11.02 billion), with shareholders' equity of approximately US$13 million (KES:1.124 billion).[4]
Middle East Bank Kenya Ltd started operations in Kenya in August 1981, after receiving a banking license from the Central Bank of Kenya, the national banking regulator.[5] The initial shareholders in the bank were the Al-Futtaim Group, affiliated with the Middle East Bank Group of United Arab Emirates. In 1991, the Al-Futtaim Group divested from the bank, leaving shareholding in Kenyan hands.[6]
In 1995, Banque Belgolaise, a Belgian financial institution acquired 25% shareholding in Middle East Bank Kenya, becoming the single largest shareholder. As a result of multiple bank mergers and acquisitions, that 25% shareholding subsequently came to be owned by BNP Paribas Fortis. 75% shareholding remains in private Kenyan hands.[7]
Ownershipedit
The shares of stock of Middle East Bank Kenya are privately held. The largest single shareholder, with 25% shareholding, is BNP Paribas Fortis, a Belgian financial services provider that is a subsidiary of BNP Paribas, a French banking conglomerate that is the largest banking group in the world. Shareholding in Meddle East Bank is depicted in the table below:
as of December 2020[update], the bank maintains its headquarters in Nairobi, Kenya's capital and largest city. It has three branches; two in Nairobi and another in Mombasa, Kenya's second-largest city.[8]
Main Branch – Mebank Tower, Milimani Road, Nairobi
Industrial Area Branch – Butere Road, Off Dar es Salaam Road, Nairobi
middle, east, bank, kenya, middle, east, bank, kenya, commercial, bank, kenya, licensed, central, bank, kenya, central, bank, national, banking, regulator, middle, east, bank, kenya, limitedcompany, typeprivateindustrybankingfounded1981, 1981, headquartersmeba. 1 Middle East Bank Kenya is a commercial bank in Kenya It is licensed by the Central Bank of Kenya the central bank and national banking regulator 2 Middle East Bank Kenya LimitedCompany typePrivateIndustryBankingFounded1981 1981 HeadquartersMebank TowerJakaya Kikwete RoadNairobi KenyaKey peopleA A K Esmail Chairman Isaac N Mwige Managing Director Total assetsUS 100m Kes 11 02 billion 2020 Websitewww wbr mebkenya wbr com The bank is a small retail bank that focuses on meeting the needs of large corporations and high net worth individuals As of December 2013 update the bank was ranked number 41 by assets out of a total of 43 commercial banks in Kenya 3 as of December 2020 update the bank s total assets were valued at about US 100 million KES 11 02 billion with shareholders equity of approximately US 13 million KES 1 124 billion 4 Contents 1 History 2 Ownership 3 Branch network 4 See also 5 References 6 External linksHistory editMiddle East Bank Kenya Ltd started operations in Kenya in August 1981 after receiving a banking license from the Central Bank of Kenya the national banking regulator 5 The initial shareholders in the bank were the Al Futtaim Group affiliated with the Middle East Bank Group of United Arab Emirates In 1991 the Al Futtaim Group divested from the bank leaving shareholding in Kenyan hands 6 In 1995 Banque Belgolaise a Belgian financial institution acquired 25 shareholding in Middle East Bank Kenya becoming the single largest shareholder As a result of multiple bank mergers and acquisitions that 25 shareholding subsequently came to be owned by BNP Paribas Fortis 75 shareholding remains in private Kenyan hands 7 Ownership editThe shares of stock of Middle East Bank Kenya are privately held The largest single shareholder with 25 shareholding is BNP Paribas Fortis a Belgian financial services provider that is a subsidiary of BNP Paribas a French banking conglomerate that is the largest banking group in the world Shareholding in Meddle East Bank is depicted in the table below Middle East Bank Kenya Stock Ownership Rank Name of Owner Percentage Ownership 1 BNP Paribas Fortis of Belgium 25 00 2 Institutional and Individual Kenyan Investors 75 00 Total 100 00Branch network editas of December 2020 update the bank maintains its headquarters in Nairobi Kenya s capital and largest city It has three branches two in Nairobi and another in Mombasa Kenya s second largest city 8 Main Branch Mebank Tower Milimani Road Nairobi Industrial Area Branch Butere Road Off Dar es Salaam Road Nairobi Mombasa Branch Nkrumah Road Mombasa Eldoret Branch Enterprise Road Nairobi See also editList of banks in Kenya Central Bank of Kenya Economy of KenyaReferences edit Middle East Bank Kenya Ltd Yellow Pages Online Directory Yellow Pages Kenya Yellow Pages Kenya Directory of Commercial Banks And Mortgage Finance Companies PDF Central Bank of Kenya Retrieved 6 August 2014 Kenya Bank Rankings By Assets In 2013 Bankelele Co Ke 28 April 2014 Retrieved 6 August 2014 Audited Financial Statements And Other Disclosures As At 31 December 2012 Middle East Bank Kenya Archived from the original on 10 August 2014 Retrieved 6 August 2014 Middle East Bank Branches Middle East Bank Branches Kenya Middle East Bank www banks kenya com Retrieved 2020 01 23 Middle East Bank Kenya Q3 Earnings Jump to KSh 70 1 Million Kenyan Wallstreet 2019 11 27 Retrieved 2020 01 23 History of Middle East Bank Kenya Middle East Bank Kenya Retrieved 6 August 2014 The Branches of Middle East Bank Kenya Middle East Bank Kenya Archived from the original on 8 August 2014 Retrieved 6 August 2014 External links editWebsite of Central Bank of Kenya Addresses of Major Kenyan Commercial Banks nbsp Banks portal Retrieved from https en wikipedia org w index php title Middle East Bank Kenya amp oldid 1166209990, wikipedia, wiki, book, books, library,
