Fina Bank (Kenya)
Encyclopedia
Overview
As of September 2010, the bankBank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
is a small, fast-growing banking institution, providing commercial banking services to individuals but its emphasis is to serve small and medium-sized corporate clients ("SMEs"). The bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
is the flagship institution of the Fina Bank Group
Fina Bank Group
Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
, which includes Fina Bank (Rwanda)
Fina Bank (Rwanda)
Fina Bank , is a commercial bank in Rwanda. The bank is one of the ten licensed commercial banks in the Republic of Rwanda.-History:...
and Fina Bank (Uganda)
Fina Bank (Uganda)
-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
. , the asset valuation of Fina Bank (Kenya) was estimated to be approximately $US$160 million.
Fina Bank Group
The Fina Bank GroupFina Bank Group
Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
includes the following subsidiaries:
- Fina Bank (Kenya)
- Fina Bank (Rwanda)Fina Bank (Rwanda)Fina Bank , is a commercial bank in Rwanda. The bank is one of the ten licensed commercial banks in the Republic of Rwanda.-History:...
- Fina Bank (Uganda)Fina Bank (Uganda)-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
History
The history of Fina Bank (Kenya) dates back to 1986 when Finance International Limited was incorporated in NairobiNairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, as a "Non-Banking Financial Institution" (NBFI). The name of the institution was later changed to The Finance Institution of Africa (FINA). Ownership of FINA changed in 1991 and the current owners assumed control of the company.
In 1995, 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 country's banking regulator, changed the banking laws, requiring all NBFI's to convert to commercial 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...
s or close shop. In order to comply with the law, FINA converted to a commercial bank, Fina Bank (Kenya) Limited, in February 1996. The bank provides a full array of banking services but focuses particularly on meeting the banking needs of small and medium enterprises ("SME's").
Together with Fina Bank (Rwanda)
Fina Bank (Rwanda)
Fina Bank , is a commercial bank in Rwanda. The bank is one of the ten licensed commercial banks in the Republic of Rwanda.-History:...
and Fina Bank (Uganda)
Fina Bank (Uganda)
-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
, Fina Bank (Kenya) is a member of the Fina Bank Group
Fina Bank Group
Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
. The Group is a small but growing financial services provider in the member countries of the East African Community
East African Community
The East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally...
. The Group's total asset base was estimated at approximately US$239 million in December 2009.
Ownership
The detailed percentage ownership of Fina Bank (Kenya) is not publicly known as of September 2010.Board of directors
Fina Bank (Kenya) is governed by a seven-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...
. Dhanu Hansraj Chandaria, one of the non-Executive Directors is the Chairman of the Board
Chairman of the Board
The Chairman of the Board is a seat of office in an organization, especially of corporations.Chairman of the Board may also refer to:*Chairman of the Board , a 1998 film*Chairmen of the Board , a 1970s American soul music group...
.
Management
Hanish Chandaria, is the Executive DirectorExecutive director
Executive director is a term sometimes applied to the chief executive officer or managing director of an organization, company, or corporation. It is widely used in North American non-profit organizations, though in recent decades many U.S. nonprofits have adopted the title "President/CEO"...
of the bank. He is assisted by twelve (12) other manager
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
s in supervising the bank's daily activities.
Branch Network
, Fina Bank (Kenya) has a network of thirteen (13) branches in the country. Documented locations of the bank's branches include:- Main Branch - Kimathi Avenue, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Manager: Nausheen Alam - Industrial Area Branch - Enterprise Road, Nairobi - Manager: Peninah Musengi
- Westlands Branch - Mpaka Road, Nairobi - Manager: Parita Shah
- Muthaiga Branch - Sharp Center, Nairobi - Manager: Maureen Maina
- Lavington Branch - Waiyaki Way, Nairobi - Manager: Bindiya Gohil
- Ngong Road Branch - Ngong Rod, Nairobi - Manager: Graham Sagwe
- Gikomba Branch - New Pumwani Road, Nairobi - Manager: Chris Waruru
- Nakuru Branch - Giddo Plaza, NakuruNakuruNakuru, the provincial capital of Kenya's Rift Valley province, with roughly 300,000 inhabitants, and currently the fourth largest urban centre in the country, lies about 1850 m above sea level...
- Manager: Viral Dodhia - Eldoret Branch - Charotar Patel Plaza, EldoretEldoretEldoret is a town in western Kenya and the administrative centre of Uasin Gishu District of Rift Valley Province. Lying south of the Cherangani Hills, the local elevation varies from about 2100 metres above sea level at the airport to more than 2700 metres in nearby areas...
- Manager: Richard Maritim - Nanyuki Branch - Kenyatta Street, NanyukiNanyukiNanyuki is a market town in central-east Rift Valley region of Kenya lying northwest of Mount Kenya along the A2 road and at the terminus of the branch railway from Nairobi. It is situated just north of the Equator . It was founded in 1907 by British settlers, some of whose descendants still live...
- Manager: Dominic Mwenga - Thika Branch - Kwame Nkrumah Roundabout, ThikaThikaThika is an industrial town in Central Province, Kenya, lying on the A2 road 40 km north east of Nairobi, near the confluence of Thika River & Chania River. Thika has a population of 200,000and is growing rapidly, as is the entire greater Nairobi area...
- Manager: George Opollo - Meru Branch - Ghana Road, MeruMeru, Kenya-Transport:The City of Meru is linked to Nairobi by a paved road, whether from the south around the east side of Mount Kenya, via Embu, or from the northwest around the west and north side of Mount Kenya, via Nanyuki and Timau....
- Manager: Basilio Joshua - Mombasa Branch - Nkrumah Road, MombasaMombasaMombasa is the second-largest city in Kenya. Lying next to the Indian Ocean, it has a major port and an international airport. The city also serves as the centre of the coastal tourism industry....
- Manager: Patrick Nzuki
External links
See also
- Fina Bank GroupFina Bank GroupFina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.-History:...
- Fina Bank (Rwanda)Fina Bank (Rwanda)Fina Bank , is a commercial bank in Rwanda. The bank is one of the ten licensed commercial banks in the Republic of Rwanda.-History:...
- Fina Bank (Uganda)Fina Bank (Uganda)-Overview:As of February 2009, the bank is a small, fast-growing banking institution, providing commercial banking services to individuals and small to medium sized corporate clients. The bank is a member of the Fina Bank Group, which includes Fina Bank and Fina Bank ...
- List of banks in Kenya
- Economy of KenyaEconomy of KenyaKenya's economy is market-based, with a few state-owned infrastructure enterprises, and maintains a liberalized external trade system. The country is generally perceived as Eastern and central Africa's hub for Financial, Communication and Transportation services...