commercial bank of africa group type private industry banking finance founded 1962 headquarters upper hill nairobi kenya key people desterio oyatsi group chairman 1 isaac awuondo group ceo 2 products banks revenue ksh 10.25 billion 2013 total assets ksh 146 billion 2013 3 number of employees 883 2013 website homepage commercial bank of africa group cba group is a financial services provider in east africa . its headquarters are located in nairobi kenya with subsidiaries in kenya tanzania and uganda . contents 1 location 2 overview 3 history 4 member companies 5 ownership 6 governance 7 see also 8 references 9 external links location edit the group s headquarters are located in nairobi kenya with subsidiaries in kenya tanzania and uganda . the flagship company of the group is commercial bank of africa with headquarters in upper hill an upscale suburb of nairobi kenya s capital and largest city . overview edit the cba group is a large financial services group in east africa with an asset base estimated at almost us 1 billion with shareholders equity of approximately us 100 million . 4 history edit commercial bank of africa was established in 1962 in dar es salaam tanzania as a subsidiary of swiss based societe financiere pour les pays d outre mer sfom . the sfom consortium included banquenationale de paris bank bruxelles lambert commerz bank and bank of america . branches of the bank were established in nairobi and mombasa kenya . another branch was opened in kampala uganda . 5 in 1967 the government of tanzania nationalized all commercial banks in the country as part of the government s nationalization of large industries in its execution of the arusha declaration . this nationalization led the bank to move its headquarters to nairobi . in 1971 the ugandan business was sold off to barclays bank of uganda . this was due to the then prevailing political instability in the country . 5 boa gained majority control of cba in 1981 after boa acquired shares held by other shareholders in the bank except for 16 % that was held by local shareholder . between 1984 and 1991 boa re organised cba developing and installing bank of america s global systems and disciplines before selling its majority shares to local kenyan investors . bank of america continued to provide management to the bank via a management agreement before eventually selling the rest of its shares in 1991 . since then cba became a wholly owned kenyan bank recognised for operational efficiency and quality service delivery . 5 in july 2005 commercial bank of africa cba acquired majority shareholding in first american bank of kenya . at that time first american owned a subsidiary in tanzania called united bank of africa . 6 this marked the bank s reentry into tanzania after the 1967 nationalization of its operations in the country . in 2007 united bank of africa changed its name to commercial bank of africa tanzania leading to the formation of the cba group . 7 in march 2012 cba group initiated action to acquire a 62 % stake in royal bank zimbabwe a harare based commercial bank . however both parties failed to finalize on the deal within given regulatory time frames . on july 31 2012 the reserve bank of zimbabwe determined royal bank to be insolvent . royal bank then surrendered its banking licence and closed down . 8 cba group reentered the ugandan market in 2014 through its wholly owned subsidiary commercial bank of africa uganda limited 9 making it the 26th commercial bank in the uganda . 10 member companies edit the companies that compose the cba group include 3 5 commercial bank of africa kenya nairobi kenya 100 % shareholding a commercial bank in kenya serving individuals and businesses . this is the flagship company of the group . commercial bank of africa tanzania dar es salaam tanzania 100 % shareholding a commercial bank in tanzania serving both individuals and businesses . commercial bank of africa uganda kampala uganda 11 100 % shareholding a commercial bank in uganda serving both individuals and businesses . commercial bank of africa rwanda kigali rwanda in development 12 cba insurance agency limited nairobi kenya 100 % shareholding offering bancassurance services . cba group owns 100 % of the company . cba capital limited nairobi kenya 100 % shareholding an investment bank licensed by the capital markets authority . cba group owns 100 % of the company . cba property holdings limited nairobi kenya 100 % shareholding property holding company aig kenya insurance company limited nairobi kenya 33.33 % shareholding the balance held by the american international group . 13 offering general insurance . ownership edit the stock of commercial bank of africa group is privately held . as of june 2014 update the largest shareholders in the group s stock are depicted in the table below 5 commercial bank of africa group stock ownership rank name of owner percentage ownership 1 enke investments limited 24.92 2 ropat nominees limited 22.51 3 livingstone registrars limited 19.91 4 yana investments limited 11.15 5 ropat trust company limited 5.37 6 livingstone registrars limited a c 2 4.74 7 cba employees share scheme 2.50 8 others 8.89 total 100.00 governance edit the chairman of the board of directors is desterio oyatsi one of the non executive directors . isaac awuondo serves as the group ceo . 14 see also edit commercial bank of africa commercial bank of africa tanzania commercial bank of africa uganda list of banks in kenya list of banks in tanzania economy of kenya economy of tanzania references edit desterio oyatsi named cba group chairman the cba board of directors a b cba group annual report 2013 cba group s total assets nearly one billion american dollars a b c d e commercial bank of africa limited medium term note programme information memorandum pdf . commercial bank of africa limited . november 21 2014 . retrieved december 3 2014 . cba acquired majority shareholding in first american bank of kenya in 2005 united bank of africa renamed commercial bank of africa tanzania in 2007 surrender of licence and closure of royal bank zimbabwe limited pdf . reserve bank of zimbabwe . july 31 2012 . retrieved december 31 2014 . herbling david 13 february 2013 . cba awaits central bank approval to set up in uganda . business daily africa . retrieved 2 may 2014 . herbling david 2 february 2014 . cba becomes ninth kenyan bank to open shop in uganda . retrieved 2 may 2014 . commercial bank of africa expected to enter uganda in 2012 ngigi george 24 november 2015 . cba seeks licence to start operating in rwanda next year . business daily africa . nairobi . retrieved 24 november 2015 . about aig kenya directors of cba external links edit website of commercial bank of africa website of commercial bank of africa tanzania shareholders & regulators approve cba s investment in royal bank zimbabwe v t e banks of kenya central bank central bank of kenya commercial bank african banking corporation bank of africa barclays bank bank of baroda bank of india cfc stanbic bank chase bank citibank na kenya commercial bank of africa consolidated bank of kenya cooperative bank of kenya credit bank development bank of kenya diamond trust bank east african development bank ecobank kenya equity bank family bank fidelitybank first community bank giro commercial bank guaranty trust bank kenya guardian bank gulf african bank habib bank habib bank ag zurich housing finance company of kenya i & m bank limited imperial bank limited jamii bora bank kenya commercial bank middle east bank kenya m oriental bank national bank of kenya nic bank paramount universal bank post bank prime bank sidian bank spire bank standard chartered kenya trans national bank kenya united bank for africa victoria commercial bank financial services organization diamond trust bank group equity group holdings limited commercial bank of africa group guaranty trust bank east africa i & m bank group kenya commercial bank group nic bank group foreign banks bank of china bank of kigali hdfc bank nedbank the hongkong and shanghai banking corporation first rand defunct banks dubai bank kenya euro bank microfinance institutions faulu microfinance bank limited smep microfinance bank kenya women microfinance bank related topics automated teller machine atm atm usage fees de materialisation demat foreign exchange forex financial services real time gross settlement rtgs national electronic fund transfer neft structured financial messaging system sfms retrieved from https en.wikipedia.org w index.php title commercial bank of africa group & oldid 704390380 categories banks of kenyaeconomy of kenya1962 establishments in kenyacompanies established in 1962hidden categories articles containing potentially dated statements from june 2014all articles containing potentially dated statements navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation 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