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.
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.
+ Shareholding In CIB Bank Rank Name of Owner % Ownership 1 Commercial International Bank51.00 6 Other Kenyan Corporations49.00 Total100.00
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
See also
List of banks in Kenya Central Bank of Kenya Economy of Kenya
References
External links Official website