Dubai Bank Kenya
Encyclopedia
Dubai Bank Kenya, whose complete name is Dubai Bank Kenya Limited, but is often referred to as Dubai Bank, is a commercial bank
in Kenya
. It is one of the forty-four (44) commercial banks licensed by the Central Bank of Kenya
, the national banking regulator. The bank is not affiliated with Dubai Bank
of United Arab Emirates
or with that bank's parent company, Dubai Banking Group
.
, East Africa
's largest economy. In December 2008, the bank's total assets were valued at about US$20 million (KES:1.64 billion), with shareholders' equity of approximately US$5 million (KES:411 million). , the bank was ranked number forty-two (42), by assets, out of forty-four (44) licensed commercial banks in Kenya.
. Hassan Zubeidi, one of the non-Executive Directors is the Chairman of the Board
. The Managing Director is Mayank Sharma.
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) commercial banks licensed by the Central Bank of Kenya
Central Bank of Kenya
The Central Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007...
, the national banking regulator. The bank is not affiliated with Dubai Bank
Dubai Bank
Dubai Bank is an Islamic bank based in Dubai, UAE. Launched in September 2002, the Bank became a Shari’a-compliant financial institution with a focus on the UAE’s Islamic banking sector on January 1, 2007...
of United Arab Emirates
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
or with that bank's parent company, Dubai Banking Group
Dubai Banking Group
Dubai Banking Group is the global shari'a compliant financial investor of Dubai Group with assets valued at over USD 10 billion...
.
History
The bank was established in 1982, originally as a branch of Bank of Oman. The assets and liabilities of the bank were subsequently acquired by Mashreq Bank Plc. In 2000, those assets and liabilities were acquired by the present shareholders, who rebranded the institution to Dubai Bank Kenya Limited.Overview
DBK is a small 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. In December 2008, the bank's total assets were valued at about US$20 million (KES:1.64 billion), with shareholders' equity of approximately US$5 million (KES:411 million). , the bank was ranked number forty-two (42), by assets, out of forty-four (44) licensed commercial banks in Kenya.
Ownership
, Dubai Bank Kenya is a privately held company whose owners are not publicly known.Branch network
The bank maintains a network of branches at the following locations:- Main Branch - I.C.E.A Building, Kenyatta Avenue, 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...
- Eastleigh Branch - Baraka Plaza, Sixth Street, Eastleigh, NairobiEastleigh, NairobiEastleigh is a suburb of Nairobi, Kenya. It is located east of the Central business district. Predominantly inhabited by Somali immigrants, it has been described as "Little Mogadishu", as well as "a country within a country with its own economy" on account of its robust business...
- Mombasa Branch - Taiyebi House, Nkrumah Road, MombasaMombasaMombasa 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....
- Nakuru Branch - Vickers House, Kenyatta Avenue, NakuruNakuruNakuru, the provincial capital of Kenya's Rift Valley province, with roughly 300,000 inhabitants, and currently the fourth largest urban centre in the country, lies about 1850 m above sea level...
Governance
The bank is governed by a six-person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
. Hassan Zubeidi, one of the non-Executive Directors is the Chairman of the Board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
. The Managing Director is Mayank Sharma.