K-Rep Bank
Encyclopedia
K-Rep Bank is a commercial bank
in Kenya
. It is one of the forty-four (44) licensed commercial banks in the country.
commercial bank serving the urban
and rural
poor in Kenya
, as well as financing their small-to-medium business enterprises. , the total asset valuation of K-Rep Bank was in excess of US$94 million, with shareholders' equity of approximately US$35 million.
. The NGOs then made loans to
micro-enterprises. In 1989, K-Rep changed its strategy from making grants to NGOs to lending to the NGOs. The technical assistance that had been hitherto provided for free, now attracted a fee.
In 1999, K-Rep re-organized itself into four entities:
is owned by the following corporate entities:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Centenary Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||International Finance Corporation
(IFC)||
|-
|2||African Development Bank
(AfDB)||
|-
|3||Netherlands Development Finance Company (FMO)||
|-
|4||Triodos Bank
||
|-
|5||ShoreCap International||
|-
|6||K-Rep Employee Stock Ownership Program (ESOP)||
|-
|7||K-Rep Group ||
|-
|8||Centum Investment Company (ICDC)||
|-
| ||Total||100.00
|-
|}
is Bethuel Kiplagat, one of the non-Executive Directors. Albert Ruturi 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) licensed commercial banks in the country.
Overview
The bank is a medium-sized microfinanceMicrofinance
Microfinance is the provision of financial services to low-income clients or solidarity lending groups including consumers and the self-employed, who traditionally lack access to banking and related services....
commercial bank serving the urban
Urban area
An urban area is characterized by higher population density and vast human features in comparison to areas surrounding it. Urban areas may be cities, towns or conurbations, but the term is not commonly extended to rural settlements such as villages and hamlets.Urban areas are created and further...
and rural
Rural
Rural areas or the country or countryside are areas that are not urbanized, though when large areas are described, country towns and smaller cities will be included. They have a low population density, and typically much of the land is devoted to agriculture...
poor 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...
, as well as financing their small-to-medium business enterprises. , the total asset valuation of K-Rep Bank was in excess of US$94 million, with shareholders' equity of approximately US$35 million.
History
K-Rep was founded in 1984. In the beginning, the organization provided grants and technical assistance to NGOsNon-governmental organization
A non-governmental organization is a legally constituted organization created by natural or legal persons that operates independently from any government. The term originated from the United Nations , and is normally used to refer to organizations that do not form part of the government and are...
. The NGOs then made loans to
micro-enterprises. In 1989, K-Rep changed its strategy from making grants to NGOs to lending to the NGOs. The technical assistance that had been hitherto provided for free, now attracted a fee.
In 1999, K-Rep re-organized itself into four entities:
- K-Rep Group - This is the parent company. It owns, either wholly or partially, the other three subsidiaries.
- K-Rep Bank - This is the lending arm of the Group. It is the core business of the Group. In addition to K-Rep Group, the bank has several International strategic shareholders as outlined below.
- K-Rep Development Agency - This company carries out research and developmental assistance work for the Group
- K-Rep Advisory Services - This is a consulting company, which provides consultancy services for a fee.
Ownership
The bank's 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 owned by the following corporate entities:
{| style="font-size:95%;"
|-
| width="80%" align="center" | Centenary Bank Stock Ownership
|- valign="top"
|
{| class="wikitable sortable" style="margin-left:auto;margin-right:auto"
! style="width:2em;" |Rank !!Name of Owner!!Percentage Ownership
|-
|1||International Finance Corporation
International Finance Corporation
The International Finance Corporation promotes sustainable private sector investment in developing countries.IFC is a member of the World Bank Group and is headquartered in Washington, D.C., United States....
(IFC)||
|-
|2||African Development Bank
African Development Bank
The African Development Bank Group is a development bank established in 1964 with the intention of promoting economic and social development in Africa...
(AfDB)||
|-
|3||Netherlands Development Finance Company (FMO)||
|-
|4||Triodos Bank
Triodos Bank
Triodos Bank N.V. is a bank based in the Netherlands with branches in Belgium, Germany, United Kingdom and Spain. It is a pioneer in ethical banking. Triodos Bank finances companies which it thinks add cultural value and benefit both people and the environment...
||
|-
|5||ShoreCap International||
|-
|6||K-Rep Employee Stock Ownership Program (ESOP)||
|-
|7||K-Rep Group ||
|-
|8||Centum Investment Company (ICDC)||
|-
| ||Total||100.00
|-
|}
Branch Network
, K-Rep Bank maintains branches in the following locations:- Naivasha Road Branch - Naivasha 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 - Austin House, Moi Avenue, 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....
- Kenyatta Avenue Branch - Standard 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...
- Nakuru Branch - Gusii Road, 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...
- Nyeri Branch - Caledonia House, NyeriNyeriNyeri is a town in situated in the Central Highlands of Kenya Kenya, which was the administrative headquarters of the country's former Central Province...
- Buruburu Branch - Vision Plaza, BuruburuBuruburuBuruburu is a large middle-class residential area in the Eastlands part of Nairobi, Kenya, situated in Makadara Division. Buruburu Estate comprises five phases, one being the oldest, with the fifth completed in 1982. Most of the houses resemble modern architecture of white buildings with striking...
, 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... - Embu Branch - Tunjege Building, Embu
- Eldoret Branch - Kirem Arcade, Nairobi 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...
- Naivasha Branch - Kenyatta Avenue, NaivashaNaivashaNaivasha is a market town in Rift Valley Province, Kenya, lying north west of Nairobi. It is located on the shore of Lake Naivasha and along the Nairobi - Nakuru highway and Uganda Railway.Naivasha is part of the Nakuru District...
- Nyahururu Branch - Kenyatta Road, NyahururuNyahururuNyahururu is a town in Kenya, lying east of Nakuru. It is part of Laikipia District in Rift Valley Province. Despite this, Nyahururu formerly functioned as the administrative capital of Nyandarua District, one of seven districts that constitute Central Province in Kenya, until the headquarters...
- Isiolo Branch - Isilolo-Marsabit Road, IsioloIsioloIsiolo is a town in the Eastern Province, Kenya. It is situated in the Upper Eastern sub-region, and lies 285 kilometres north of Nairobi, the capital city of Kenya. The town grew around the local military camps, much of the population being descended from former Somali soldiers who had fought in...
- Meru Branch - Ghana Road, MeruMeru, Kenya-Transport:The City of Meru is linked to Nairobi by a paved road, whether from the south around the east side of Mount Kenya, via Embu, or from the northwest around the west and north side of Mount Kenya, via Nanyuki and Timau....
- Kitale Branch - Ndege House, KitaleKitaleKitale is an agricultural town in western Kenya situated between Mount Elgon and the Cherengani Hills at an elevation of around . Its urban population was estimated at 220,000 in 2007....
- Kisumu Branch - Kenya Re-Insurance Plaza, Oginga Odinga Road, 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...
- Bungoma Branch - Moi Avenue, BungomaBungomaBungoma is a town in Western Province of Kenya, bordered by Uganda in the west. Bungoma town was established as a trading centre in the early 20th century. The town is the headquarters of Kenya's Bungoma District and it hosts a municipal council...
- Kajiado Branch - Market Road, KajiadoKajiadoKajiado is a town in the Rift Valley Province, Kenya. The town is located south of Nairobi, along the Nairobi – Arusha highway. Kajiado has an urban population of 8128 . Local people are predominantly of the Maasai tribe....
- Kibwezi Branch - Manna House, KibweziKibweziKibwezi is a town in Makueni District, Eastern Province, Kenya.Kibwezi town is the headquarters of Kibwezi division, one of 15 administrative divisions in Makueni District. The division has a population of 80,236, of whom 4,695 are classified urban. The division has four locations: Kikumbulyu,...
- Mtwapa Branch - Malindi Road, MtwapaMtwapaMtwapa is a beautiful town located in Kenya's Coast Province. The town is situated approximately north-east of Mombasa and is served by Mombasa-Malindi road. The settlement is also the location of the Mombasa-Mtwapa matatu terminus. The Mtwapa Creek is an Indian Ocean inlet at Mtwapa, which is...
- Kericho Branch - Kuriot House, Moi Highway, KerichoKerichoKericho is a Kenyan County located to the South West of the country and lies within the highlands west of The Great Rift Valley. The capital of the district is Kericho town. The district home to the best of Kenyan Tea which is world famous for its brightness, attractive color, brisk flavor and...
- Machakos Branch - Mbolu Malu Road, MachakosMachakosMachakos is a town in Kenya, 64 kilometres southeast of Nairobi. It is the capital of the Machakos District in Eastern Province of Kenya. Machakos Town is a major rural centre, and also a satellite town due to its proximity to Nairobi. Its population is rapidly growing and is 192,117...
- Moi Avenue Branch - Guilders Building, Moi 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...
- Kisii Branch - Ouru Superstore House, Kisii
- Mwea Branch - Nairobi Meru Highway, Wanguru
- Nanyuki Branch - Lumumba Road, NanyukiNanyukiNanyuki is a market town in central-east Rift Valley region of Kenya lying northwest of Mount Kenya along the A2 road and at the terminus of the branch railway from Nairobi. It is situated just north of the Equator . It was founded in 1907 by British settlers, some of whose descendants still live...
- Kenyatta Market Branch - Phikago House, LavingtonLavingtonLavington may refer to:Villages in England* East Lavington, West Sussex* West Lavington, West Sussex* West Lavington, Wiltshire* Market Lavington, Wiltshire* Lenton, Lincolnshire Places elsewhere...
, 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... - Kilimani Branch - K-Rep House, Wood Avenue, KilimaniKilimaniKilimani is a residential area in Nairobi's Westlands administrative division. It is also an electoral ward of Nairobi City Council and Westlands Constituency . Kilimani is located west of central Nairobi and adjacent Upper Hill estate...
, 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...
Main Branch - Kitui Branch - KituiKituiKitui is a town in Kenya, 130 kilometers east of Nairobi and 75 kilometers east of Machakos. It used to be the capital of the Kitui District in Eastern Province of Kenya. Due to political reforms, Kitui is now the headquarters of Kitui County, which covers a larger area than the former district did...
- Kengeleni Branch - Kongowea Market, 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....
- Thika Branch - Harry Thuku Road, ThikaThikaThika is an industrial town in Central Province, Kenya, lying on the A2 road 40 km north east of Nairobi, near the confluence of Thika River & Chania River. Thika has a population of 200,000and is growing rapidly, as is the entire greater Nairobi area...
- Nkubu Branch - Nkubu
- Kangemi Branch - KangemiKangemiKangemi is a slum in Kenya. It is on the road connecting Nairobi with Naivasha and on the outskirts of Nairobi. It likely has more than 100,000 residents. Kangemi is in a small valley....
, 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... - Kerugoya Branch - Kerugoya-Kangumo Road, KerugoyaKerugoyaKerugoya is a town in Kenya. It is the capital of Kirinyaga District of Central Province. Kerugoya is located 10 kilometres east of Karatina and 40 kilometres west of Embu....
- Chuka Branch - Millennium Plaza, ChukaChukaChuka may refer to:*Chuka, Kenya, a town*Chuka, Tibet, a village*Chuka Umunna , British Member of Parliament, commentator and lawyer*Stefano Okaka Chuka , Italian football player*Chuka , a 1967 western starring Rod Taylor...
- Busia Branch - Green Bay Building, Busia, KenyaBusia, KenyaBusia is a town in Western Kenya. It is the largest town in Busia District, Kenya and the district headquarters are located there.-Location:Busia, Kenya is located in Busia District, in Kenya's Western Province, approximately , by road, west of Nairobi, Kenya's capital and largest city...
Governance
The Chairman of the seven-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 Bethuel Kiplagat, one of the non-Executive Directors. Albert Ruturi serves as the Managing Director.