Barclays Bank of Kenya

Barclays Bank of Kenya
Public company
Traded as KN: BBK.NR BBK
Industry Banking
Founded 1916 (1916)
Headquarters Nairobi, Kenya
Key people
 Charles Muchene
Chairman[1]
Jeremy Awori
Managing Director[1]
Products Loans, credit cards, savings, investments, mortgages
Revenue Increase: Aftertax: KES:7.399 billion (US$73.98 million) (2016)[1]
Total assets KES:259.718 billion (US$2.597 billion) (2016)[1]
Owner Absa Group Limited (68.5%)
Number of employees
 2,591[1] (2016)
Website www.barclays.co.ke

Barclays Bank of Kenya, is a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited.[2] It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[3]

Location

The headquarters and main branch of the bank are located at Barclays Westend Building, off of Waiyaki Way, in Nairobi, Kenya's capital and largest city.[4] The geographic coordinates of the bank's headquarters are:01°15'32.0"S, 36°47'04.0"E (Latitude:-1.258889; Longitude:36.784444).[5]

Overview

The bank is a large financial services institution in Kenya, with an asset base in excess of KES:259.718 billion (US$2.597 billion), with shareholders' equity of KES:42,388 billion (US$423,83 billion). At that time the bank serviced 833 268 customer accounts, in 121 branches, 214 automated teller machines and 2,591 members of staff.[1]

As of March 2014, Barclays Bank of Kenya was the fifth-largest commercial bank in Kenya, by assets, behind KCB Group, Equity Group Holdings Limited, Cooperative Bank and Standard Chartered Kenya.[6]

History

The bank's history traces from 1916 when the National Bank of South Africa (now First National Bank) opened a branch at Mombasa.[7]

In 1925, National Bank of South Africa was merged with the Anglo-Egyptian Bank and the Colonial Bank in 1925 to form Barclays Bank (Dominion, Colonial and Overseas).[8] This brought the Kenyan operations under Barclays Bank.

The bank was licensed in its present form in 1953 and in 1978 it was incorporated locally as Barclays Bank of Kenya, a wholly owned subsidiary of Barclays Bank International. The bank listed its shares on the Nairobi Stock Exchange in 1986 through a successful IPO.[7] These shares trade under the symbol: BARC.

Before 2013, The bank is a subsidiary of Barclays Bank Plc. (through Barclays Africa), an International financial services conglomerate, whose shares of stock are listed on the London Stock Exchange under the symbol: BARC and on the New York Stock Exchange (NYSE) under the symbol: BCS. In 2013, Barclays Plc adopted the combined strategy to operate as “One Bank in Africa” with an aim of increasing efficiency and boosting returns from the African Units. This led to the merging of all Barclays Plc. businesses in Africa (other than Egypt and Zimbabwe units) through Absa Group Limited, leading to the formation of Barclays Africa Group. The stock of Barclays Africa Group, which owns 68.5% of Barclays Bank of Kenya, is listed on the JSE.[9][10]

Shareholding

As of 31 December 2016, the major shareholders in the stock of the bank were as illustrated in he table below:[1]

Barclays Bank of Kenya Stock Ownership
RankName of OwnerPercentage Ownership
1Absa Group Limited68.50
2Standard Chartered Nominees Non-Resident A/C KE87231.11
3Standard Chartered Nominees Resident A/C KE114010.86
4Kenya Commercial Bank Nominees Limited A/C 915B0.77
5Standard Chartered Nominees Resident A/C KE114500.70
6Kenya Commercial Bank Nominees Limited A/C 915A0.63
7Standard Chartered Nominees Limited Non-Resident0.53
8Standard Chartered Nominees A/C 92300.44
9CFC Stanbic Nominees Limited A/C NR18737380.42
10Jubilee Insurance Company Limited0.37
11Others25.67
Total100.00

Branch network

As of December 2016, the bank maintains a network of 121 branches and over 240 ATMs in various locations across Kenya.[1]

Governance

The Chairman of the ten-person Board of Directors of Barclays Bank Kenya, is Charles Muchene, one of the non-Executive Directors. Jeremy Awori, serves as the Managing Director of the bank.[1]

See also

References

  1. 1 2 3 4 5 6 7 8 9 Barclays Bank of Kenya (22 February 2017). "Barclays Bank of Kenya Integrated Annual Report for the Year Ended 31 December 2016" (PDF). Nairobi: Barclays Bank of Kenya. Retrieved 7 June 2018.
  2. ↑ Adengo, Jonathan (2 March 2018). "Barclays becomes Absa". Daily Monitor. Kampala. Retrieved 7 June 2018.
  3. ↑ Central Bank of Kenya (31 May 2017). "Bank Supervision: Commercial Banks, Mortgage Finance Institutions & Authorized Non-Operating Holding Companies" (PDF). Nairobi: Central Bank of Kenya. Retrieved 7 June 2018.
  4. ↑ Barclays Bank of Kenya (7 June 2018). "The Headquarters of Barclays Bank of Kenya Limited". Nairobi: Barclays Bank of Kenya Limited. Retrieved 7 June 2018.
  5. ↑ Google (7 June 2018). "Location of the Headquarters of Barclays Bank of Kenya" (Map). Google Maps. Google. Retrieved 7 June 2018.
  6. ↑ Bankelele (28 April 2014). "Kenya Bank Rankings By Assets 2013". Nairobi: Bankelele.co.ke. Retrieved 7 June 2018.
  7. 1 2 Barclays Bank (7 June 2018). "The History of Barclays Bank of Kenya" (Archived from the Original). Barclays Bank. Retrieved 7 June 2018.
  8. ↑ Anthony, Michael (2001). Historical Dictionary of Trinidad and Tobago. Scarecrow Press, Inc. Lanham, Md., and London. ISBN 0-8108-3173-2.
  9. ↑ Buthelezi, Londiwe (8 April 2013). "Absa's Deal To Buy Barclays' African Operations Runs Behind Schedule". © Copyright 1999 - 2014 Independent Online, A Division of Independent Newspapers (Private) Limited. Retrieved 7 June 2018.
  10. ↑ Ndzamela, Phakamisa (7 October 2013). "Ramos Doing Good Job, Says Barclays Boss". Business Day (South Africa). Parktown, Johannesburg. Retrieved 7 June 2018.
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