Giro Commercial Bank, whose full name was Giro Commercial Bank Limited, was a commercial bank in Kenya it was acquired and absorbed by I&M Holdings in 2017. It was licensed by the Central Bank of Kenya, the central bank and national banking regulator.
As of December 2013, the total asset base of Giro Commercial Bank was valued at approximately US$157.67 million (KES:13.623 billion), with shareholders’ equity of approximately US$24.15 million (KES:2.086 billion). Then, the bank held US$132.6 million (KES:11.457 billion), in customer deposits. At that time, the bank was ranked number 29 out of 43 licensed banks in Kenya
History of Giro Commercial Bank
The bank was established as Giro Bank Limited in 1992. In 1998, Giro Bank merged with Commercial Bank Limited, to form Giro Commercial Bank Limited. The stock of the bank is privately owned by individuals and institutions.
On September 7, 2015, I&M Holdings announced the acquisition of Giro Commercial Bank. The acquisition was finalized in March 2017 and the operations of Giro Commercial Bank were merged to that of I&M Bank Kenya.
As of August 2014, the bank operated a network of branches at the following locations:
- Head Office – Giro House, Eldama Park, Nairobi
- Banda Street Branch – Hughes Building, Banda Street, Nairobi
- Industrial Area Branch – Dunga Road, Industrial Area, Nairobi
- Kisumu Branch – Giro House, Oginga Odinga Road, Kisumu
- Mombasa Branch – Pan Africa House, Moi Avenue, Mombasa
- Parklands Branch – 3rd Parklands Avenue, Ridge Court, Parklands, Nairobi
- Westlands Branch – Bandari Plaza, Woodvale Grove, Westlands, Nairobi.
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