Barclays Bank (Kenya)
Encyclopedia
Barclays Bank Limited, also known as Barclays Bank of Kenya, is a commercial bank
in Kenya
. It is one of the forty-four (44) commercial bank licensed by the Central Bank of Kenya
, the national banking regulator.
with assets valued at US$2.72 billion (KES:218.2 billion). The institution serves the banking needs of large and small business customers as well as individuals.
of Barclays Bank of Kenya are listed on the Nairobi Stock Exchange
(NSE), where they trade under the symbol: BARC. The bank is a subsidiary of Barclays Bank Plc., an International financial services conglomerate
, whose shares of stock are listed on the London Stock Exchange
under the symbol: BARC and on the New York Stock Exchange
(NYSE) under the symbol: BCS.
s in various locations across Kenya
.
of Barclays Bank (Kenya), is Francis Okomo-Okello, one of the non-Executive Directors. Adan Mohamed, serves as the Managing Director of the bank.
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
. It is one of the forty-four (44) commercial bank licensed by the Central Bank of Kenya
Central Bank of Kenya
The Central Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007...
, the national banking regulator.
Overview
The bank is a large financial institution in Kenya, with an estimated asset base in excess of US$2.2 billion (KES:177 billion), as of September 2010. At that time, Barclays Bank of Kenya was the second largest bank in Kenya, by assets, behind Kenya Commercial Bank GroupKenya Commercial Bank Group
Kenya Commercial Bank Group, also known as KCB Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Burundi, Rwanda, South Sudan, Tanzania and Uganda.-Overview:...
with assets valued at US$2.72 billion (KES:218.2 billion). The institution serves the banking needs of large and small business customers as well as individuals.
History
According to its website, Barclays Bank has been present in Kenya for over 90 years. However, the bank was licensed in its present form in 1953, according to the website of the Central Bank of Kenya. The shares of stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
of Barclays Bank of Kenya are listed on the Nairobi Stock Exchange
Nairobi Stock Exchange
The Nairobi Securities Exchange is the principal stock exchange of Kenya. It began in 1954 as an overseas stock exchange while Kenya was still a British colony with permission of the London Stock Exchange. The NSE is a member of the African Stock Exchanges Association...
(NSE), where they trade under the symbol: BARC. The bank is a subsidiary of Barclays Bank Plc., an International financial services conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
, whose shares of stock are listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
under the symbol: BARC and on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
(NYSE) under the symbol: BCS.
Branch network
, the bank maintains a network of one hundred fifteen (115) branches and 236 ATMAutomated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
s in various locations across Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
.
Governance
The Chairman of the ten (10) person Board of DirectorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of Barclays Bank (Kenya), is Francis Okomo-Okello, one of the non-Executive Directors. Adan Mohamed, serves as the Managing Director of the bank.