Commercial Bank of Africa Group
Encyclopedia
Commercial Bank of Africa Group (CBA Group) is a financial services provider in East Africa
. Its headquarters are located in Nairobi
, Kenya, with subsidiaries in Kenya
and Tanzania
.
, Kenya
, with subsidiaries in Kenya, and Tanzania. The flagship company of the group is Commercial Bank of Africa
, with headquarters in Upper Hill, an upscale suburb of Nairobi, Kenya's capital and largest city.
, with an asset base estimated at over US$900 million (KES:9 billion).
, Tanzania
. Branches of the bank were established in Nairobi
and Mombasa
, Kenya
. Another branch was opened in Kampala
, Uganda
. When Tanzania nationalized all commercial banks in 1967, the bank moved its headquarters to Nairobi. In 1971, the Ugandan operation was sold due to the then prevailing political instability in the country. In July 2005, Commercial Bank of Africa
(CBA) acquired majority shareholding in First American Bank of Kenya. At that time First American owned a subsidiary in Tanzania
called United Bank of Africa. In 2007, United Bank of Africa changed its name to Commercial Bank of Africa (Tanzania). That is how the CBA Group was formed.
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. Its headquarters are located in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kenya, with subsidiaries in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
and Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
.
Location
The Group's headquarters are located in NairobiNairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, with subsidiaries in Kenya, and Tanzania. The flagship company of the group is Commercial Bank of Africa
Commercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
, with headquarters in Upper Hill, an upscale suburb of Nairobi, Kenya's capital and largest city.
Overview
As of November 2011, the CBA Group is a large financial services provider in East AfricaEast Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
, with an asset base estimated at over US$900 million (KES:9 billion).
Group members
The companies that comprise of the CBA Group include:- Commercial Bank of AfricaCommercial Bank of AfricaCommercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
- NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
- 100% Shareholding - Commercial Bank of Africa (Tanzania)Commercial Bank of Africa (Tanzania)Commercial Bank of Africa ' is a commercial bank in Tanzania. It is one of the twenty-nine banks licensed by the Bank of Tanzania, the country's banking regulator...
- Dar es SalaamDar es SalaamDar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
, TanzaniaTanzaniaThe United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
- 100% Shareholding - Commercial Bank of Africa (Uganda) - KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, UgandaUgandaUganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
- Comimng soon
History
Commercial Bank of Africa was established in 1962 in Dar es SalaamDar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...
, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
. Branches of the bank were established in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
and Mombasa
Mombasa
Mombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
. Another branch was opened in Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. When Tanzania nationalized all commercial banks in 1967, the bank moved its headquarters to Nairobi. In 1971, the Ugandan operation was sold due to the then prevailing political instability in the country. In July 2005, Commercial Bank of Africa
Commercial Bank of Africa
Commercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
(CBA) acquired majority shareholding in First American Bank of Kenya. At that time First American owned a subsidiary in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
called United Bank of Africa. In 2007, United Bank of Africa changed its name to Commercial Bank of Africa (Tanzania). That is how the CBA Group was formed.
External links
See also
- Commercial Bank of AfricaCommercial Bank of AfricaCommercial Bank of Africa is a financial services provider headquartered in Nairobi, Kenya. CBA is one of the forty-four licensed commercial banks in the country.-Overview:...
- Commercial Bank of Africa (Tanzania)Commercial Bank of Africa (Tanzania)Commercial Bank of Africa ' is a commercial bank in Tanzania. It is one of the twenty-nine banks licensed by the Bank of Tanzania, the country's banking regulator...
- List of banks in Kenya
- List of banks in Tanzania
- Economy of KenyaEconomy of KenyaKenya's economy is market-based, with a few state-owned infrastructure enterprises, and maintains a liberalized external trade system. The country is generally perceived as Eastern and central Africa's hub for Financial, Communication and Transportation services...
- Economy of TanzaniaEconomy of Tanzania- History :Significant measures have been taken to liberalize the Tanzanian economy along market lines and encourage both foreign and domestic private investment. Beginning in 1986, the Government of Tanzania embarked on an adjustment program to dismantle socialist economic controls and encourage...