The incredibly rich history of KCB bank that was founded in 1896

Tony254

JF-Expert Member
May 11, 2017
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KCB ni bank kubwa hapa Afrika Mashariki lakini sikuwa nafahamu historia yake. Hii bank ina historia ndefu na ya mafanikio makubwa.


Our History​

120+ Years of Progress​

We are proud of our history and heritage which is rooted as far back as the nineteenth century. Take a look at how far we have come since our inception, back in 1896. Start scrolling to explore.

Voyage Into East Africa

1893
After success in Pakistan, Burma, Ceylon and Aden, National Bank of India opens a new branch in India.

1890
Zanzibar -which has close trading links with India- and Pemba Islands become British protectorates. All revenues are administered by British officers.

1866

Process to turn the bank to a Sterling company commences. Some pioneers wanted a strictly Calcutta bank. Others wanted it to be an international institution.

1864
The banks name is changed to National Bank of India. A new branch is opened in Bombay and a proposal sent to the directors to open a banking agency in London.

1863

After a call to invest in a proposed bank – the Calcutta City Banking Corporation, it opens for business on the morning of November 16, 1863 at 1/1 Mission Row, Calcutta.

1904

The bank opens a branch in Nairobi in a small tin shack with an increase in trade activity, such as the opening of Indian bazaar.

1896
A branch of National Bank of India is opened in Mombasa owing to the thriving trade and The Imperial British East Africa Company opening new trading posts in the interior.

The Parsis, the Railway and the Journey to Nairobi

1908
The bank gets into a profitable agreement with the Uganda Railway to become its sole banker while the railway gets guaranteed rates of interest on its provident fund monies.

The Early Currency Exchange Struggles

2015
KCB Bank received an international credit rating from Moody’s and S&P rating agencies. B1 and B+ respectively and at par with the Kenya sovereign rating. Launch of KCB M-PESA, a mobile based account , offered exclusively to M-PESA customers. 5M accounts were opened during the year transacting over KES 259B. Launch of Representative office in Ethiopia

The Rise of the National and Grindlays

1962
The bank opens more branches in Nairobi and upcountry in preparation for a new set of customers; Africans.

1961
New branches are opened in Nairobi at Cargen House and in Karatina, replacing the temporary branch.

1957
The bank announces that the merger with Grindlays Bank scheduled for January 1, 1958, to form National Overseas and Grindlays Bank Ltd.

The Kenyatta Years

1968
The bank opens a new branch in Ukwala Siaya and appoints H.E. Odhiambo as the first manager.

Kenya Commercial Bank is Born

1977
The bank opens a new headquarters and the country’s economy is thriving, recording a surplus of Sh2.2 billion after payments

1977
KCB opens a new headquarters. The building today houses the Kenya National Archives.

1976
KCB buys Kipande House, which had been put up in 1910 and gazette as a national monument, on condition that it makes no alterations.

1971
President Kenyatta appoints former PS in the Ministry of Finance, John Michuki, as the chairman of the KCB board. The first general manager is P. B. Noble, the former Kenya manager of National and Grindlays Bank Ltd.

1972
Savings and Loan Kenya Limited becomes a KCB subsidiary after it acquires all its shares, formerly owned by the Pearl Assurance Company.

1970
In July the government signs deal to become a 60% shareholder, giving it a new name, Kenya Commercial Bank, with the motto ‘Being closer to the people’.

The Bank in the Moi Era

1987
The bank opens a special services branch at Harambee Plaza and launches guaranteed cheques aimed at current account customers.

1985
The bank launches a sports complex in Ruaraka, Nairobi. The bank also opens a new sub-branch in Sagana.

 

Tony254

JF-Expert Member
May 11, 2017
11,779
2,000
1984
The bank holds its first management conference on banking in Eldoret town, attracting more than 80 banking officers.

The Consolidation Period

1999

The bank incorporates automated teller machines (ATMs) to reduce congestion in banking halls and sets up a team to work on internet banking and e-commerce.

1995

The bank successfully launches the internationally accepted KCB VISA Card and the locally circulating KCB VISA Card.

1989

The bank sees a 41.5% increase in pre-tax profits amounting to Sh375 million and contributes Sh260 million in taxes and dividends to the exchequer while deposits reach Sh13.9 billion.

1988

The bank offers an IPO. The bank also starts developing the New Runda Estate with the Staff Pension Fund and offers houses for sale.

Brand Change

2016

KCB Launches sh50 billion 2jiajiri programme for youth employment

2007

Terry Davidson retires and Martin Oduor-Otieno becomes his successor.

2005

With this renewed confidence, KCB in August 2005entered into a partnership with Western Union that allowed the bank to offer the money transfer service in all its branches.

2003

In April 2003, days ahead of the year’s AGM, the chairman of the bank, Benjamin Kipkulei announced his resignation. Kipkulei was replaced by Susan Mudhune.

2001

KCB Chairman Peter Nyakiamo retires and is succeeded by Benjamin Kipkulei, a former diplomat who also served as chairman of the Kenya Revenue Authority.

2016
KCB Group Plc was registered as a non-operating holding company to oversee all KCB regional units including KCB Bank Kenya, Tanzania, South Sudan, Uganda, Rwanda, Burundi and Ethiopia. It also owns KCB Insurance Agency, KCB Capital, KCB Foundation and all associate companies.

2012

KCB completed its Eastern African Regional presence with the opening of the KCB Bank Burundi and doubled its share price in the bourse surpassing the USD 1 Billion capital ratio and an impressive growth of 11% in its books

2006
KCB opens a new branch in Southern Sudan, the world’s newest nation.

2003
Gareth George is let go and replaced with Terry Davidson after he initiated an aggressive asset disposal programme that led him to sell Kencom House to the banks pension fund for Sh 1 billion
 

Tony254

JF-Expert Member
May 11, 2017
11,779
2,000
Sijui mbona JF haidisplay certain types of images. It is high time JF improves its systems. JF does not display webp images sijui kwa nini.
 

Stanmwa

Member
Jun 10, 2020
45
125
Nice. I have not seen the year at which it became a Parastatal. What were the circumstances?
 

Tony254

JF-Expert Member
May 11, 2017
11,779
2,000
Nice. I have not seen the year at which it became a Parastatal. What were the circumstances?
Go to 1970. That is when the Government of Kenya became a 60% shareholder of the bank thus making it a parastatal.
 

Venus Star

JF-Expert Member
Dec 6, 2018
6,465
2,000
Wivu wako unakusaidia nini?
Kuuliza swali ni wivu Mzee!? Umeweka historia ndefu sana. Na tumepoteza muda kuisoma, so tunakuuliza hiyo historia yakuanzia 1896 imesaidia nini kujusu njaa ya wanakibera!?
 

Tony254

JF-Expert Member
May 11, 2017
11,779
2,000
Kuuliza swali ni wivu Mzee!? Umeweka historia ndefu sana. Na tumepoteza muda kuisoma, so tunakuuliza hiyo historia yakuanzia 1896 imesaidia nini kujusu njaa ya wanakibera!?
Mzee unauliza swali la kejeli lakini bado unataka ujibiwe kiutu uzima?
 

Stanmwa

Member
Jun 10, 2020
45
125
Pamoja na historia hiyo, KCB imeisaidia nini Kenya kuhusu njaa!?
Sisi kama Africa kusini tuna sehemu ya nchi yetu iliyo jangwa. Na kwa sababu mungu sio ninadamu, ametubatiki ni utajiri ma mafuta, wa kiakili na maarifa, uchumi mkubwa. Hata tukose chakula hatuwezi kosa hela za kuagiza vyakula (sawa na SA) vya kutosha. Najua wabongo wanafurahia kuwa na mahindi lakini am sure wanagiza ngano na rice kutoka Asia. Swala kubwa ni je, can they sustain that with their tiny economy?
 

Venus Star

JF-Expert Member
Dec 6, 2018
6,465
2,000
Sisi kama Africa kusini tuna sehemu ya nchi yetu iliyo jangwa. Na kwa sababu mungu sio ninadamu, ametubatiki ni utajiri ma mafuta, wa kiakili na maarifa, uchumi mkubwa. Hata tukose chakula hatuwezi kosa hela za kuagiza vyakula (sawa na SA) vya kutosha. Najua wabongo wanafurahia kuwa na mahindi lakini am sure wanagiza ngano na rice kutoka Asia. Swala kubwa ni je, can they sustain that with their tiny economy?
Mzee, mbona unaleta topic tofauti kabisa!? Hapa tunaongelea KCB.

UMEKULA LAKINI!?
 

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