Facebook Twitter Instagram
    Facebook Twitter Instagram
    Business Times
    Button
    Business Times
    Home»Corporate»Jamii Bora Rebrands To Kingdom Bank, New CEO Appointed After Acquisition By Co-op Bank
    Corporate

    Jamii Bora Rebrands To Kingdom Bank, New CEO Appointed After Acquisition By Co-op Bank

    Business CorrespondentBy Business CorrespondentAugust 25, 2020Updated:August 25, 2020No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Jamii Bora Bank has been renamed to Kingdom Bank Limited following a buyout by acquisition by Co-operative Bank.

    Former Co-operative Bank director for credit management Anthony Mburu has been appointed the new Chief Executive Officer (CEO) of the bank.

    The new CEO takes over from Tim Kabiru who has been heading Jamii Bora.

    Anthony Mburu. [PHOTO/ COURTESY]

    “Pursuant to Central Bank of Kenya approvals, the former Jamii Bora Bank has changed its name and will now operate as Kingdom Bank Limited,” Co-operative Bank Managing Director Gideon Muriuki said in a statement.

    Co-op bank also named a new board of the lender that will be chaired by Mrs Margaret Karangatha. Others on the board include Macloud Malonza, Julius Sitienei, and Group MD Gideon Muriuki.

    Under the acquisition deal, Kingdom Bank will trade as a subsidiary of Co-op Bank.

    Other Co-op Bank Group subsidiaries include Co-optrust Investment Services Limited and Co-op Consultancy & Insurance Agency Limited, which it owns fully.

    The lender also holds 60 percent stake in Kingdom Securities Limited, and 51 percent in Co-operative Bank of South Sudan.

    Associate firms include CIC Insurance Group (24.7 percent) and Co-op Bank Fleet Africa Leasing Limited with a 25 percent stake.

    “The acquisition offers Co-op Bank the opportunity to cross-sell and deepen product offering to the enhanced customer base and create a niche bank to offer specialised credit offerings,” said Mr Muriuki.

    Co-op Bank holds 90 percent stake in the new Kingdom Bank.

    For all the latest technology and business news from Kenya and the world, follow us on Twitter and like us on Facebook. Follow our Telegram Chanel https://t.me/businesstimeske

    Share this:

    • Tweet
    • WhatsApp
    • Telegram
    • More

    Related

    Anthony Mburu Co-operative Bank Jamii Bora Bank
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Business Correspondent
    • Website

    Business Times Kenya is the leading business blog in Kenya. Business Times disseminates business news, features, technology, politics, opinion and world's trending topics in a timely and objective manner. Contact us via [email protected] or [email protected]

    Related Posts

    New-style Traveller Centres Launch In Naivasha, With First Regional Electric Vehicle Charging

    May 20, 2022

    Naivas Opens Its 84th Branch In Kayole, Naivasha

    May 20, 2022

    Superior Homes Launches Reward Program For Investors

    May 20, 2022

    Leave A Reply Cancel Reply

    Ad
    Here’s The Latest
    • How To Establish A Connection With Your Domestic Worker
    • New-style Traveller Centres Launch In Naivasha, With First Regional Electric Vehicle Charging
    • Naivas Opens Its 84th Branch In Kayole, Naivasha
    • Superior Homes Launches Reward Program For Investors
    • ESG set to drive Real Estate Sector Forward – EAPI Summit
    Buy the Latest POS Software
    • ConnectionHow To Establish A Connection With Your Domestic Worker
    • Naivasha Safari CentreNew-style Traveller Centres Launch In Naivasha, With First Regional Electric Vehicle Charging
    • Naivas SupermarketNaivas Opens Its 84th Branch In Kayole, Naivasha
    • Superior HomesSuperior Homes Launches Reward Program For Investors
    • Absa ESGESG set to drive Real Estate Sector Forward – EAPI Summit
    • AbsaAbsa Bank Kenya earns Global Recognition
    • DStvEnhancing Business in Pubs with Variety Sports
    • (no title) Post 7460
    • Mount Kenya University (MKU) Pro-Chancellor Dr Vincent Gaitho.MKU Pro-chancelor Pleads For Peace During Polls
    • Felix Tshisekedi President of the Democratic Republic of Congo (right) receives a memento from Prof. Isaac Macharia, Equity Group Board Chairman (left) and Dr. James Mwangi Equity Group Managing Director and CEO (center).Opportunities To Explore In The Vast DRC Market
    • Y15s SafaricomSafaricom Partners With vivo Smartphone To List New 4G Devices in Kenya
    • Safaricom CEO Peter NdegwaSafaricom Confirms Commercial Launch In Ethiopia As Revenue Hits Ksh281 Billion
    • PrudentialPrudential Kenya Signs Ksh10 Million Partnership To Provide Free Education To Disadvantaged Students
    • ZohoZoho Unifies Marketing Operations With Zoho Marketing Plus
    • Cold Season5 Tips To Help You Prepare For The Cold Season
    • Banking FraudBankers, Payments Firms And Retailers In Drive To Reduce Consumer Exposure To Fraud
    • Congratulations! Deputy President William Ruto Secures His First Win in Nairobi
    • dstv kenya self serviceDStv’s New Package Offers Lifeline To Hotel Industry
    • The promotion targeted Kenyans living and working in the USA. PHOTO| Justus KisavaAMG Realtors Unveils Winner Of Five-acre Piece Of Land In Bamba Shamba Promotion
    • Paul Icharia Kepfic Vice chairmanUS Pension Schemes Direct Over Ksh58 Billion to Africa
    Facebook Twitter Instagram Pinterest
    © 2022 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.

     

    Loading Comments...