Kingdom Bank Limited (Kenya)

Kingdom Bank Limited (Kenya), formerly Jamii Bora Bank, is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.

Location
The headquarters of the bank are located at Kingdom Towers (formerly Jamii Bora Towers), along Argwings Kodhek Road, in Kilimani, Nairobi, approximately 6 km, by road, west of the city centre. The geographical coordinates of the bank's headquarters are:01°17'35.0"S, 36°47'23.0"E (Latitude:-1.293056; Longitude:36.789722).

History
The bank was founded, as a Charitable Trust, by fifty destitute families on the streets of Nairobi, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank. In March 2010, Jamii Bora merged with City Finance Bank (CFB), a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund (BAF), and other individual investors.

In March 2020, Co-operative Bank of Kenya, the country's fourth-largest commercial bank, with nearly 10 percent market share of national banking assets, proposed the acquisition of Jamii Bora Bank.

Assets
In March 2018, the bank's total assets were valued at approximately KSh12.5 billion (US$117 million).

Ownership
Jamii Bora Bank is privately owned. A rights issue of US$4 to 6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million (approx:US$4.6 million) in Jamii Bora Bank. Following the acquisition of 90 percent shareholding in the stock of the bank by Cooperative bank of Kenya, the bank ownership was as depicted in the table below, as of August 2020.

Acquisition
In March 2020, Co-operative Bank of Kenya, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process required regulatory approvals. On 7 August 2020, Cooperative Bank received all the necessary regulatory approvals to acquire 90 percent shareholding in Jami Bora Bank. On 25 August 2020, the bank re-branded to Kingdom Bank Kenya Limited.

Branches
, the bank maintained a network of branches at the following locations:


 * 1) Koinange Branch - Jamii Bora House, Muindi Mbingu Street, Nairobi
 * 2) Ongata Rongai Branch: Ongata Rongai, Nairobi
 * 3) Thika Branch: Kenyatta Avenue, Thika
 * 4) Kikuyu Branch: Brick House, Kikuyu
 * 5) Kisumu Branch: Mega Plaza, Oginga Odinga Street, Kisumu
 * 6) Kayole Branch: Kayole, Nairobi
 * 7) Nyeri Branch: Naivas Mall, Nyeri
 * 8) Mtwapa Branch - Mtwapa
 * 9) Mombasa Branch: Southern House, Moi Avenue, Mombasa
 * 10) Kawangware Branch: Mbugua Plaza Junction, Kawangware, Nairobi
 * 11) Kilimani Branch: Jamii Bora House, Argwings Kodhek Road, Nairobi
 * 12) Kirinyaga Road Branch: Kirinyaga Road, Nairobi
 * 13) Kitengela Branch: Kitengela
 * 14) Kiambu Branch:  Kiambu
 * 15) Wangige Branch: Wanie, Kiambu County
 * 16) Utawala Branch: Utawala, Nairobi
 * 17) Nakuru Branch: Nakuru
 * 18) Kisii Branch: Kisii

Governance
The five-person board of directors is chaired by Margaret Karangatha. Other board members are Gideon Muriuki, the Cooperative Bank Group managing director, Macloud Malonza, Julius Sitienei and Anthony Mburu, the Kingdom Bank CEO.