Imperial Bank Limited
Encyclopedia
Imperial Bank Limited, commonly known as Imperial Bank, but also known as Imperial Bank Kenya, is a commercial bank
in Kenya
. It is one of the forty-four (44) licensed commercial banks in the country.
, the national banking regulator. In January 2011, the bank, in partnership with Mukwano Group
, a Uganda
n business and manufacturing conglomerate
, opened a subsidiary, Imperial Bank Uganda, with headquarters at 6 Hannington Road, on Nakasero Hill
, in the center of Kampala
's central business district
.
of the bank is privately held. The detailed shareholding in Imperial Bank Limited is as follows:
. Abdulmalek Janmohamed is the Chief Executive Officer
of Imperial Bank Limited.
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) licensed commercial banks in the country.
Overview
The bank is a medium-sized retail bank that caters to both individuals and corporate clients. , the bank's total asset base was valued in excess of US$240.5 million (KES:20.6 billion), with shareholders equity of approximately US$28 million. In November 2010 Imperial Bank Limited was ranked the 19th largest Kenyan commercial bank, by assets, out of forty-four licensed banks in the country.History
Imperial Bank Limited was established in 1993 as a Finance and Securities Company. In 1996, the bank commenced commercial banking services, following the issuance of a banking license by the Central Bank of KenyaCentral 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. In January 2011, the bank, in partnership with Mukwano Group
Mukwano Group
The Mukwano Group of Companies, commonly known as the Mukwano Group, is a conglomerate based in Uganda, with operations in other East African countries.-Location:...
, a Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
n business and manufacturing 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...
, opened a subsidiary, Imperial Bank Uganda, with headquarters at 6 Hannington Road, on Nakasero Hill
Nakasero
Nakasero is the hill where the central business district of Kampala is located. Kampala is Uganda's capital and largest city.-Location:Nakasero is bordered by Mulago to the north, Makerere to the northwest, Old Kampala to the west, Namirembe and Mengo to the southwest, Nsambya to the south, Kibuli...
, in the center of Kampala
Kampala
Kampala 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...
's central business district
Central business district
A central business district is the commercial and often geographic heart of a city. In North America this part of a city is commonly referred to as "downtown" or "city center"...
.
Ownership
The 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 the bank is privately held. The detailed shareholding in Imperial Bank Limited is as follows:
| Shareholder | Percentage held | Notes |
|---|---|---|
| Imaran Ltd | 14.0% | Alnashir Popat (chairman) has a 50% interest in this company |
| Abdumal Investments Ltd | 14.0% | Anwar Hajee (director) has a 50% interest in this company |
| Janco Investments Ltd | 13.5% | Abdulmalek Janmohamed (MD) has a 50% interest in this company |
| Rex Motors Ltd | 12.5% | |
| Kenblest Ltd | 12.5% | Jinit Shah (director) has a 50% interest in this company |
| Momentum Holdings Ltd | 12.5% | Mukesh Kumar Patel (director) has a 50% interest in this company |
| EA Motor Industries Ltd | 11.0% | Vishnu Dhutia (director) has a 50% interest in this company |
| Reynolds & Company Ltd | 10.0% | Hanif Mohamed Amirali Somji (director) has a 50% interest in this company |
| 100.0% |
Branch network
, the locations where the bank branches can be found include:- Upper Hill Branch - Bunyala Road, Upper Hill, NairobiNairobiNairobi 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...
- Main Branch - IPS Branch - IPS Building, Kimathi Street, NairobiNairobiNairobi 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...
- Parklands Branch - Regal Plaza, Limuru Road, Parklands, NairobiParklands, NairobiParklands, Nairobi, commonly referred to simply as Parklands, is a neighborhood in the city of Nairobi, the capital and largest city in Kenya. It is divided into numbered avenues. The name arises from the proximity of the area to City Park, Nairobi....
- Card Centre Branch - Regal Plaza, Limuru Road, Parklands, NairobiParklands, NairobiParklands, Nairobi, commonly referred to simply as Parklands, is a neighborhood in the city of Nairobi, the capital and largest city in Kenya. It is divided into numbered avenues. The name arises from the proximity of the area to City Park, Nairobi....
- Mombasa Branch - Kaunda Avenue, 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....
- Diani Branch - Beach Road, Diani
- Karen Branch - Cross Roads Mall, Karen, Nairobi
- Malindi Branch - Galana Centre, Lamu Road, MalindiMalindiMalindi is a town on Malindi Bay at the mouth of the Galana River, lying on the Indian Ocean coast of Kenya. It is 120 kilometres northeast of Mombasa. The population of Malindi is 117,735 . It is the capital of the Malindi District.Tourism is the major industry in Malindi. The city is...
- Watamu Branch - Tourist Road, WatamuWatamuWatamu is a beach resort on the Indian Ocean coast of Kenya. It lies on a small headland, between the Blue Lagoon and Watamu Bay. Its main industries are tourism and fishing...
- Thika Branch - Push-pa Plaza, Kwame Nkrumah Road, 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...
- Eldoret Branch - Imperial Court, Eldoret-Nairobi Road, 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...
- Kilifi Branch - Kilifi Arcade, Biashara Street, KilifiKilifiKilifi is a town on the Kenyan coast, home to many resorts. It sits on the estuary of the Rare River in Kenya. The beach itself is known as Bofa Beach and is said to be one of the best beaches in Kenya. The town lies on the Kilifi Creek between Malindi and Mombasa. Kilifi is capital of the Kilifi...
- Industrial Area Branch - Bamburi Road, NairobiNairobiNairobi 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...
- Changamwe Branch - ChangamweChangamwe- Geography :The area is primarily industrial, with a number of modern concrete tower blocks housing residents. Industries include refineries and various process industries...
- Likoni Branch - Nakumatt Shopping Centre, LikoniLikoniLikoni is a division of Mombasa District, Kenya, and is located to the south-west of the island.- Transport :Likoni is the site of the southern terminus of the Likoni Ferry, a double ended ferry serving road traffic and pedestrians from both Likoni and Mombasa island. Likoni also has a high...
- Riverside Branch - Riverside Drive, NairobiNairobiNairobi 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...
Governance
Alnashir Popat, a non-executive director of the bank, serves as the Chairman of the seven-member 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...
. Abdulmalek Janmohamed is the Chief Executive Officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of Imperial Bank Limited.