Giro Commercial Bank

Giro Commercial Bank
Private
Industry Financial services
Founded 1992
Headquarters Nairobi, Kenya
Key people
 C. J. Gidoomal
Chairman
Sanjay Gidoomal
Executive Director
Revenue US$4.375 million (KES:378.05 million) (2013)
Total assets US$157.67 million (KES:13.623 billion) (2013)
Website Homepage

Giro Commercial Bank (GCB), whose full name is Giro Commercial Bank Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[1]

Overview

As of December 2013, the total asset base of Giro Commercial Bank was valued at approximately US$157.67 million (KES:13.623 billion), with shareholders' equity of approximately US$24.15 million (KES:2.086 billion). Then, the bank held US$132.6 million (KES:11.457 billion), in customer deposits.[2] At that time, the bank was ranked number 29 out of 43 licensed banks in Kenya, then.[3]

In market share, Giro Commercial Bank was ranked 27 out of 44 banks with a share of 0.49 per cent as at December 2014.[4]

History

The bank was established as Giro Bank Limited in 1992. In 1998, Giro Bank merged with Commercial Bank Limited, to form Giro Commercial Bank Limited.[5][6] The stock of the bank is privately owned by individuals and institutions.

On September 7, 2015, I&M Holdings announced the acquisition of Giro Commercial Bank and merging of its business with that of I&M Bank Kenya. The process is awaiting regulatory approval.[4]

Branch network

As of August 2014, the bank operates a network of branches at the following locations:[7]

  1. Head Office - Giro House, Eldama Park, Nairobi
  2. Banda Street Branch - Hughes Building, Banda Street, Nairobi
  3. Industrial Area Branch - Dunga Road, Industrial Area, Nairobi
  4. Kisumu Branch - Giro House, Oginga Odinga Road, Kisumu
  5. Mombasa Branch - Pan Africa House, Moi Avenue, Mombasa
  6. Parklands Branch - 3rd Parklands Avenue, Ridge Court, Parklands, Nairobi
  7. Westlands Branch - Bandari Plaza, Woodvale Grove, Westlands, Nairobi.

See also

References

  1. ↑ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 8 August 2014.
  2. ↑ CBK, . "Audited 31 December 2013 Annual Report And Financial Statements" (PDF). Central Bank of Kenya (CBK). Retrieved 8 August 2014.
  3. ↑ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. Retrieved 9 August 2014.
  4. 1 2 Mwaniki, Charles (2015-09-07). "I&M Holdings in deal to acquire Giro Bank". Business Daily Africa. Nation Media Group. Retrieved 2015-09-07.
  5. ↑ CBK, . "Mergers And Acquisitions Among Kenyan Commercial Banks From 1989 Until 2010". Central Bank of Kenya (CBK). Retrieved 8 August 2014.
  6. ↑ GCB, . "The History of Giro Commercial Bank". Giro Commercial Bank (GCB). Retrieved 9 August 2014.
  7. ↑ GCBL, . "The Branches of Giro Commercial Bank Limited". Giro Commercial Bank Limited (GCBL). Retrieved 9 August 2014.

External links

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