• Source: CIB Kenya

Commercial International Bank (CIB) Kenya Limited is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the country's central bank and national banking regulator.




Location


The headquarters and main branch of the bank are located on the Mezzanine Floor at KAM House, along Mwanzi Road, in Westlands, Nairobi.




Overview


CIB Kenya is a retail banking institution, serving small to medium enterprises, large corporate clients and individuals. The bank was started in 2017, as a greenfield investment, by 31 Kenyan investors. As of December 2019, the bank's total assets were valued at KSh8.65 billion (US$82 million), with shareholders' equity of KSh1.040 billion (US$10 million).




History


CIB Kenya was granted a banking licence by the CBK on 20 June 2017 and began its operations on 1 August 2017.
In December 2019, Commercial International Bank, based in Egypt began the process of seeking regulatory approval in Egypt and Kenya, to acquire a controlling interest in Mayfair Bank.




= Acquisition

=
On 3 December 2019, it was announced that one of Egypt's top banks, Commercial International Bank (CIB) wanted to acquire Mayfair Bank. In April 2020, after receiving regulatory and shareholder approval from Nairobi and Cairo, CIB paid US$35 million in exchange for 51 percent shareholding in Mayfair Bank. In January 2023, CIB Egypt fully acquired the bank by buying the remaining 49% shares. The bank has since rebranded from Mayfair CIB Bank Kenya Limited to CIB Kenya.




Shareholding


As of June 2017, the bank was locally owned by 31 shareholders, thirteen of them corporate and eighteen individuals. At that time, the ownership of the bank's stock, is as illustrated in the table below:
In April 2020, Commercial International Bank of Egypt bought 51 percent shareholding in Mayfair bank for a consideration of US$35 million. The shareholding in the bank changed as illustrated in the table below.




Branches


CIB Kenya Headquarters - Kamhouse, 14 Mwanzi Rd, Nairobi, Nairobi
Mayfair Center - MAYFAIR Center, Ground Floor, Ralph Bunch Road, Nairobi
Nyali Branch - KRISH Plaza, Ground Floor, Links Road, Mombasa
Industrial Area Branch - Hi-Tech Granite Industries Building, Enterprise Road, Industrial Area, Nairobi
Eldoret Branch - Rupa’s Mall, Second Floor, Malaba Road, Eldoret
New Upper Hill Branch - Old Mutual Towers, Ground Floor, Upperhill Road, Nairobi
Mombasa Nkurumah Road Branch Oriental Building, ground floor, Mombasa CBD, Nkurumah Road, Mombasa

List of banks in Kenya
Central Bank of Kenya
Economy of Kenya




References






External links


Official website

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