Prime Bank (Kenya)

Prime Bank Kenya Limited

Company type	Private company
Industry	Financial services
Founded	3 September 1992; 32 years ago (1992-09-03)
Headquarters	Nairobi, Kenya
Key people	R.C. Kantaria (Chairman), Bharat Jani (Managing Director)
Products	Loans, Transaction accounts, Savings, Internet banking, Mobile banking, Investments, Debit Cards
Revenue	Aftertax:KES:2.122 Billion (US$21.335 Million) (2017)[1]
Total assets	KES:77.998 Billion (US$784.215 Million) (2017)[1]
Website	www.primebank.co.ke

Prime Bank Kenya (PBKL) is a commercial bank in Kenya, licensed and supervised by the Central Bank of Kenya (CBK), the national banking regulator.[2]

The bank is a mid-sized retail bank that caters to both individuals and corporate clients. As of December 2017^[update], the bank's total asset base was valued at KES:77.998 Billion (US$784.215 Million), with shareholders' equity of KES:14.672 Billion (US$147.518 Million).[1]

As at July 2018, Prime Bank was the 15th largest commercial bank in Kenya, out of a total of 39 lenders, based on total assets. At that time, the bank had 24,000 deposit accounts and 4,000 loan accounts, with a market share of 1.82 percent, according to data provided by CBK.[3]

Subsidiaries

The bank investments include:

• Prime Capital & Credit Limited (PCCL) – Based in Nairobi, Kenya is owned 100% by Prime Bank (Kenya)
• Tausi Assurance Company Ltd – 80.72% shareholding – An insurance company based in Kenya.[4]
• FMBCapital Holdings Plc – 22.48% shareholding, 11.24% is held directly while 11.24% through PCCL.[5] – A Mauritius based financial services holding company with subsidiaries in Botswana, Malawi, Mozambique, Zambia and Zimbabwe.

Branch network

As of January 2022^[update], the bank maintains a network of 23 interconnected branches and over 18 ATMs in Kenya's major urban centers.

Ownership

The stock of the bank is privately held. As of January 2019^[update], the bank's stock was owned by the following corporate entities and individuals:[6]

Prime Bank Kenya Stock Ownership

Rank	Name of Owner	Percentage Ownership
1	AfricInvest and Catalyst Principal Partners	24.20
2	Other Investors	21.34
3	Prime Capital Limited	14.36
4	Jamson Limited	8.02
5	Crason Limited	8.02
6	Nason Limited	8.02
7	Prime Trustees	8.02
8	Capital Nominees	8.02
	Total	100.00

See also

• List of banks in Kenya
• Central Bank of Kenya
• Economy of Kenya

References

1. Prime Bank (31 December 2017). "Audited Financial Statements And Other Disclosures As At 31 December 2017" (PDF). Nairobi: Prime Bank Kenya. Retrieved 30 July 2018.
2. Central Bank of Kenya (31 May 2018). "Central Bank of Kenya: Directory of Licensed Commercial Banks, Mortgage Finance Institutions And Authorised Non-Operating Holding Companies" (PDF). Nairobi: Central Bank of Kenya. Retrieved 30 July 2018.
3. Ngugi, Brian (30 July 2018). "Prime Bank in talks for sale of stake after Sh2 billion capital boost". Business Daily Africa. Nairobi. Retrieved 30 July 2018.
4. "Prime Bank 2017 annual report" (PDF). 31 December 2017. Retrieved 16 May 2020.
5. First Merchant Bank (30 March 2017). "Top Shareholders of First Merchant Bank of Malawi As of 30 March 2017". Blantyre: First Merchant Bank of Malawi. Retrieved 30 July 2018.
6. Juma, Victor (8 January 2019). "Prime Bank in Sh5.1bn stake sale as Kantaria family loosens grip". Business Daily Africa. Nairobi. Retrieved 8 January 2019.