Credit Bank
Encyclopedia
Credit Bank is a commercial bank
in Kenya
. It is one of the forty-four (44) licensed commercial banks in the country. Credit Bank was established in 1986.
, East Africa
's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. Its core capital as of September 2010 stood at approximately US$9 million (KES:750 million) In November 2010, the total asset base of the bank was approximately US$60 million (KES:5 billion). The bank is in the process of raising shareholders capital to US$18 million (KES:1.5 billion), by 2012.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
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...
. It is one of the forty-four (44) licensed commercial banks in the country. Credit Bank was established in 1986.
Overview
The bank is a small-sized commercial bank in KenyaKenya
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...
, East Africa
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:...
's largest economy. Prior to 2010, the bank's focus was large corporations and upscale businesspeople. In September 2010, Credit Bank changed strategy and transformed into a retail bank, serving all segments of society and their businesses. Its core capital as of September 2010 stood at approximately US$9 million (KES:750 million) In November 2010, the total asset base of the bank was approximately US$60 million (KES:5 billion). The bank is in the process of raising shareholders capital to US$18 million (KES:1.5 billion), by 2012.