KCB Bank Uganda Limited is the youngest addition to the KCB family.
The first bank was opened in November 2007 at Commercial Plaza, Kampala Road. The bank is now offering fully- fledged universal banking products that are tailored for this market which includes world class infrastructure capable of facilitating one-branch banking in a cross border business environment.
KCB is also taking advantage of the emerging regional investment opportunities to support inter-regional trade in the East African region.
In the next one year the bank plans to set up six branches spread across various urban centers in Uganda. The bank’s entry into Uganda will promote cross-border trade and it also fits well with the bank’s regional expansion strategy. Customers who have businesses across the region will not need to carry cash while doing business since the bank’s branches are all networked. Some of the banking services offered in the Uganda subsidiary includes SME banking, Corporate banking, Personal banking, money transfers and mortgage products. We pride ourselves for being a strong indigenous African brand.
The history of Kenya Commercial Bank (KCB) dates back to 1896 when its predecessor, the National Bank of India opened an outlet in Mombasa. Eight years later in 1904, the Bank extended its operations to Nairobi, which had become the Headquarters of the expanding railway line to Uganda. The next major change in the Bank’s history came in 1958. Grindlays Bank merged with the National Bank of India to form the National and Grindlays Bank. Upon independence the Government of Kenya acquired 60% shareholding in National & Grindlays Bank in an effort to bring banking closer to the majority of Kenyans.
In 1970, the Government acquired 100% of the shares to take full control of the largest commercial bank in Kenya. National and Grindlays Bank was renamed Kenya Commercial Bank.
In 1972, Savings & Loan (K) Ltd was acquired to specialize in mortgage finance.
In 1997, another subsidiary, Kenya Commercial Bank (Tanzania) Limited was incorporated in Dar-es-Salaam, Tanzania to provide banking services and promote cross-border trading. Since then, three branches, namely, Dar es Salaam, Arusha and Mwanza, have been opened.
In pursuit of its Vision: To be the best bank in the region, in May 2006 KCB extended its operations to Southern Sudan following licensing of its youngest subsidiary, KCB Sudan, to provide conventional banking services. The subsidiary has branches in Juba and Rumbek. The latest addition into the KCB Family came in November, 2007 with the opening of KCB Bank Uganda Limited.
The Government has over the years reduced its shareholding to 35% and more recently to 26.2% following the rights issue exercise in 2004, which raised KShs2.45 billion in additional capital for the bank.