FidelityBank
Encyclopedia
FidelityBank, whose full name is Fidelity Commercial Bank Limited, is a commercial bank
in Kenya
. It is one of the forty-four (44) commercial banks licensed by the Central Bank of Kenya
, the country's banking regulator.
and Mombasa
. , FidelityBank had an asset base of about US$100 million (KES:Shs8.98 billion), and shareholders' equity of about US$10 million (KES:888.34 million).
, the national banking regulator. The bank has plans to list its stock on the Nairobi Stock Exchange
, according to its website.
is not publicly known.
. Rana Sengupta is the Managing Director of the bank, since September 2008.
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 country's banking regulator.
Overview
The bank is a small, but growing, retail bank, serving mainly the urban areas of 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...
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....
. , FidelityBank had an asset base of about US$100 million (KES:Shs8.98 billion), and shareholders' equity of about US$10 million (KES:888.34 million).
History
The institution was incorporated in 1988 as African Finance Company. In 1992, the finance company rebranded as Fidelity Finance Limited. In 1996, the institution rebranded again as Fidelity Commercial Bank Limited, having been granted a banking license by the Central Bank of KenyaCentral 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 has plans to list its stock on the Nairobi Stock Exchange
Nairobi Stock Exchange
The Nairobi Securities Exchange is the principal stock exchange of Kenya. It began in 1954 as an overseas stock exchange while Kenya was still a British colony with permission of the London Stock Exchange. The NSE is a member of the African Stock Exchanges Association...
, according to its website.
Ownership
FidelityBank is a privately held institution. The detailed shareholding of the company stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
is not publicly known.
Governance
James Birnie, one of the non-Executive Directors of the bank, serves as the Chairman of the seven-member 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...
. Rana Sengupta is the Managing Director of the bank, since September 2008.
Branch Network
, the bank maintains branches at the following locations:- Nairobi City Center Branch - Jubilee Exchange, Kaunda Street, 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...
- Westlands Branch - Unga House, Muthithi Road, WestlandsWestlandsWestlands is a neighborhood in the city of Nairobi, the capital and largest city in Kenya.-Location:Westlands is located , by road, northwest of the central business district of Nairobi...
, 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... - Industrial Area Branch - Dar-e-Salam Road, 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...
- Mombasa Branch - Dedan Kimathi Street, 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....
- Diani Branch - Baharini Plaza, Beach Road, Diani
- Malindi Branch - Sabaki Center, Lamu Road, MalindiMalindiMalindi is a town on Malindi Bay at the mouth of the Galana River, lying on the Indian Ocean coast of Kenya. It is 120 kilometres northeast of Mombasa. The population of Malindi is 117,735 . It is the capital of the Malindi District.Tourism is the major industry in Malindi. The city is...
External links
See also
- List of banks in Kenya
- List of banks in Africa
- Central Bank of KenyaCentral Bank of KenyaThe 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...
- 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...