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Kcb Group Profile

In: Business and Management

Submitted By paulokeyo
Words 5596
Pages 23
Table of Contents 1.1 INTRODUCTION 2 1.1.2 History 2 1.2 Geographic scope - Areas of operation 3 1.3 Product/market scope 3 1.4 Source of competitive advantage 9 1.5 Significant changes and reasons for this 10 1.6 Growth patters- past strategies, present stategies 10 1.7 Performance record 18 1.8 Challenges facing KCB Group 22 References 22

1.1 INTRODUCTION

1.1.2 History

The KCB Group is a significant institution in Kenya's banking and financial sector with an asset base of over KShs 170 billion. The history of KCB dates back to 1896 when its predecessor, the National Bank of India opened an outlet in Mombasa. Eight years later in 1904, the Bank extended its operations to Nairobi, which had become the Headquarters of the expanding railway line to Uganda. The next major change in the Bank’s history came in 1958. Grind lays Bank merged with the National Bank of India to form the National and Grind lays Bank (KCB, 2008). Upon independence the Government of Kenya acquired 60% shareholding in National & Grind lays Bank in an effort to bring banking closer to the majority of Kenyans. In 1970, the Government acquired 100% of the shares to take full control of the largest commercial bank in Kenya. National and Grind lays Bank was renamed Kenya Commercial Bank (KCB, 2008).

In 1972, Savings & Loan (K) Ltd was acquired to specialize in mortgage finance. In 1997, another subsidiary, Kenya Commercial Bank (Tanzania) Limited was incorporated in Dar-salaam, Tanzania to provide banking services and promote cross-border trading. Since then, three branches, namely, Dar es Salaam, Arusha and Mwanza, have been opened. Today, KCB Group has the widest network of outlets comprising of over 145 branches across the region and over 280 Automated Teller Machines (ATM). KCB Bank Group is composed of Kenya Commercial Bank, a Commercial Bank; S&L, a

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