Gulf African Bank
Company type | Private |
---|---|
Industry | Banking |
Founded | 2008 |
Headquarters | Nairobi, Kenya |
Key people | Abdalla Abdulkhalik (chief executive officer & board member |
Revenue | Aftertax: US$3,902, 912 million (KES:402 million) (2014) |
Total assets | US$212.805, 271 million (KES:21.918,943 billion) (2014) |
Website | www |
Gulf African Bank (GAB), whose full name is Gulf African Bank Limited, is a
As of December 2014[update] the bank was a mid-sized financial services provider in Kenya. Its total assets were valued at approximately US$191.8 million (KES:19, 753, 647 billion), with customer deposits totalling approximately US$153.3 million (KES:15.8 billion), and shareholders' equity estimated at US$30.6 million (KES:3.15 billion).[2] At that time, the bank was ranked number 25, by assets, out of the 43 licensed banks in Kenya then.[3] The bank has plans to enter Uganda and Tanzania.[4]
History
Discussions to establish the bank started in 2005, by individuals and institutions from the
Ownership
The shares of stock in Gulf African Bank are privately held by institutional and private investors from the Persian Gulf, Kenya and the United States of America. Institutional investors account for over 90% shareholding. The major shareholders in the bank include the investors listed in the table below. In September 2012, the International Finance Corporation acquired 16% shareholding in the bank for US$5 million. It is not clear how the shareholding will look after the money changes hands.[6][7]
Gulf African Bank Stock Ownership | |||||||||||||||||||||||||||
|
- The totals are off because shareholding data after IFC investment is lacking.
Branch network
As of August 2014[update], the bank operates a network of branches at the following locations:[8]
- Head Office – Geminia Insurance Plaza, Kilimanjaro Avenue, Nairobi
- Lamu Branch – Old Telkom Office, Jomo Kenyatta Road, Lamu
- Kenyatta Avenue Branch – Ground Floor, Hughes Building, Kenyatta Avenue, Nairobi
- Eastleigh Branch II – Shariff Centre Building, Jam Street, Eastleigh, Nairobi
- Bombolulu Branch – Madina Estate, New Mombasa-Malindi Highway, Bombolulu, Mombasa
- Westlands Branch – 9 West Building, Westlands, Nairobi]
- Enterprise Branch – Addis Ababa Road, Off Enterprise Road, Nairobi
- Upper Hill Branch – Ground Floor, Geminia Ins. Plaza, Kilimanjaro Ave., Upper Hill, Nairobi
- Jomo Kenyatta Branch – Kasa Building, Jomo Kenyatta Avenue, Mombasa
- Malindi Branch – Blue Marlin Building, Lamu Road, Malindi
- Garissa Branch – First House, Al-Waqf Quran House, Kismayu Road, Garissa
- Nkrumah Road Branch – Najat House, Nkrumah Road, Mombasa
- Eastleigh Main Branch – Eastleigh Mall Building, General Wariunge Street, Eastleigh, Nairobi
- Bondeni Branch – Abdel Nasser Road, Bondeni, Mombasa
See also
- CBK
- Kenya Banks
- Kenya Economy
- Sharia Banking
- First Community Bank
References
- ^ "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya. Retrieved 8 August 2014.
- ^ "Gulf African Bank Audited 31 December 2013 Financial Statements". Gulf African Bank. Retrieved 8 August 2014.
- ^ "Kenya Bank Rankings By Assets In 2013". Bankelele.Co.Ke. 28 April 2014. Retrieved 8 August 2014.
- The Citizen(Tanzania). Retrieved 8 August 2014.
- AllAfrica.com. Retrieved 24 November 2014.
- ^ Gachiri, John (6 September 2012). "Gulf African Bank in KSh674 Million Finance Deal With IFC". Business Daily Africa (Nairobi). Retrieved 8 August 2014.
- ^ Sud, Neha; McNally, John (29 April 2014). "IFC Expands Partnership with Gulf African Bank To Support Islamic Finance And Entrepreneurs in Kenya". International Finance Corporation (IFC). Retrieved 8 August 2014.
- ^ "The Branch Network of Gulf African Bank". Gulf African Bank. Retrieved 8 August 2014.
External links
- Website of Gulf African Bank
- Website of Central Bank of Kenya
- Investor Interest In Sharia-Linked Products Grows
- Why Sharia-Compliant Economy Growing Fast