Guardian Bank
Encyclopedia
Guardian Bank, whose full name is Guardian Bank Limited, is a commercial bank
in Kenya
. It is one of the forty-four (44) commercial banks licensed by Central Bank of Kenya
, the national banking regulator.
. As a result of the changes in the banking laws of Kenya
, Euro Finance Limited converted into a commercial bank in 1996 and rebranded to Guardian Bank Limited. In December 1999, the bank merged with Guilders International Bank Limited, keeping its current name, after the merger. , the bank was a medium-sized retail bank, with an asset base totaling approximately US$93 million (KES:7.8 billion), and shareholders' equity of about US$10.5 million (KES:873 million).
of Guardian Bank is privately held. The detailed shareholding in the bank is not widely publicly known. The bank operates as a subsidiary of Chandaria Industries Limited, a business conglomerate
that is also in involved in paper manufacturing.
is M.M.Chandaria, one of the non-Executive Directors. Vasant Shetty serves as the Managing Director.
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 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.
History
Guardian Bank was established in 1992 as Euro Finance Limited, a non-bank financial institutionNon-bank financial institution
A non-bank financial institution is a financial institution that does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFIs facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market...
. As a result of the changes in the banking laws of 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...
, Euro Finance Limited converted into a commercial bank in 1996 and rebranded to Guardian Bank Limited. In December 1999, the bank merged with Guilders International Bank Limited, keeping its current name, after the merger. , the bank was a medium-sized retail bank, with an asset base totaling approximately US$93 million (KES:7.8 billion), and shareholders' equity of about US$10.5 million (KES:873 million).
Ownership
The 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...
of Guardian Bank is privately held. The detailed shareholding in the bank is not widely publicly known. The bank operates as a subsidiary of Chandaria Industries Limited, a business conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
that is also in involved in paper manufacturing.
Branch network
, Guardian Bank maintains branches at the following locations:- Main Branch - Guardian Centre, Biashara 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...
- Eldoret Branch - Biharilal House, Uganda Road, EldoretEldoretEldoret is a town in western Kenya and the administrative centre of Uasin Gishu District of Rift Valley Province. Lying south of the Cherangani Hills, the local elevation varies from about 2100 metres above sea level at the airport to more than 2700 metres in nearby areas...
- Kisumu Branch - Guilders Plaza, Odera Street, KisumuKisumuKisumu is a port city in western Kenya at , with a population of 355,024 . It is the third largest city in Kenya, the principal city of western Kenya, the immediate former capital of Nyanza Province and the headquarters of Kisumu County. It has a municipal charter but no city charter...
- Westlands Branch - Brick Court House, Mpaka 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... - Mombasa Road Branch - Tulip House, 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 - Oriental Building, 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....
Governance
The Chairman of the nine-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...
is M.M.Chandaria, one of the non-Executive Directors. Vasant Shetty serves as the Managing Director.