Bank of Africa Kenya
Bank of Africa Kenya Limited (BOA Kenya), is a commercial bank in Kenya. It is one of the commercial banks licensed by Central Bank of Kenya, the country's central bank and the national banking regulator.[3]
| Type | Private |
|---|---|
| Industry | Banking and Finance. |
| Predecessor | Calyon Bank Kenya Limited |
| Founded | 2004 |
| Headquarters | |
Key people | Dennis Awori Chairman Ronald Marambii Managing Director |
| Products | Loans, mortgages, investments, debit cards, credit cards |
| Revenue |  KES:2.04 billion (US$ 18.7 million) (2019)[1] |
| Total assets |  KES:43.996 billion (US$403.27 million) (2019)[1] |
Number of employees | 530+ (2016)[2] |
| Website | boakenya |
Overview
BOA Kenya is a mid-tier bank and is ranked 15th out of the 42 commercial banks in Kenya by the CBK. The bank provides banking services to corporate, SMEs, investment groups as well as individuals. As at 31 December 2019, the bank's total assets were valued at KES:43.996 billion (US$403.27 million), with shareholders' equity valued at KSh4.28 billion (approx. USD39.2 million.[1] The bank's customer base was in excess of 100,000, as of March 2016.[2]
History
The Bank traces its roots from Calyon Bank (formally Credit Agricole Indosuez) which was founded in 1981.[4] In April 2004, Groupe Bank of Africa (BOA Group) acquired the operations of Credit Agricole Indosuez in Kenya and incorporated them into its newly formed subsidiary BOA Kenya. This transaction was completed on June 30, 2004.[5]
BOA Kenya has invested in BOA Uganda (52.72%), making it a subsidiary and a 24.1% stake in BOA Tanzania, making it an associate.[6]
Ownership
BOA Kenya is a member of the Mali based Bank of Africa Group. As of December 2019, shareholding in the bank's stock was as depicted below:[1]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Bank of Africa Benin | 31.34 |
| 2 | Bank of Africa Group | 24.01 |
| 3 | Netherlands Development Finance Company (FMO) | 13.01 |
| 4 | Bank of Africa Madagascar | 11.65 |
| 5 | Bank of Africa Ivory Coast | 11.00 |
| 6 | Bank of Africa (Red Sea) | 7.03 |
| 7 | Agora S.A.* | 1.95 |
| Total | 100.00 | |
Note:
- Bank of Africa Group is a subsidiary of Moroccan based Banque Marocaine du Commerce Exterieur.[7]
Governance
BOA Kenya is governed by a ten-person board of directors with Dennis Awori as Chairman and Ronald Marambii as the Managing Director.[8]
See also
References
- Bank of Africa Kenya (25 March 2020). "Bank of Africa Kenya Limited: Annual Report and Financial Statements for the Year Ended 31 December 2019" (PDF). Nairobi: Bank of Africa Kenya Limited. Retrieved 10 January 2021.
- Mugambi Mutegi (17 March 2016). "Bank of Africa acquires KSh1.5bn office block in Westlands for relocation". Business Daily Africa. Nairobi. Retrieved 29 March 2016.
- CBK (28 March 2016). "Directory of Licenced Commercial Banks, Mortgage Finance Institutions and Authorised Non-Operating Bank Holding Companies" (PDF). Nairobi: Central Bank of Kenya (CBK). Retrieved 28 March 2016.
- "BOA Niger - 2014 Rapport annuel" (PDF). BOA Group. Archived from the original (PDF) on 25 December 2015. Retrieved 24 December 2015.
- "Gazette Notice: 4697". Kenya Gazette. Vol. 106. Nairobi: Government Press. 25 June 2004. p. 1416.
- "Annual Report 2014" (PDF). Bank of Africa Uganda. 31 December 2014. Archived from the original (PDF) on 25 December 2015. Retrieved 24 December 2015.
- Bank of Arica Group (24 December 2015). "Our Key Figures". Bank of Africa Group. Retrieved 24 December 2015.
- Herbling, David (24 March 2016). "Bogged by bad debts Bank of Africa Kenya sinks into loss territory". Business Daily Africa. Nairobi. Retrieved 28 March 2016.
