Middle East Bank Kenya (MEBK), is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya (CBK), the central bank and national banking regulator. The bank is a small retail bank, that focuses on meeting the needs of large corporations and high-net-worth individuals. As of December 2013, the bank was ranked number 41, by assets, out of a total of 43 commercial banks in Kenya. As of December 2012, the bank’s total assets were valued at about US$70 million (KES:5.87 billion), with shareholders’ equity of approximately US$13 million (KES:1.124 billion)
| Type | Public |
|---|---|
| Industry | Banking |
| Founded | 1981 |
| Headquarters | Mebank Tower Milimani Street Nairobi, Kenya |
|
Key people
|
A.A.K. Esmail (Chairman), Dhirendra Rana (Managing Director) |
| Total assets | US$70 million (KES:5.87 billion) (2012) |
| Website | www |
Middle East Bank Kenya Ltd (MEB) was incorporated in Kenya in October 1980 and established business in August 1981 with branches in Nairobi and Mombasa. It was established in Kenya as part of the Al-Futtaim Group, a leading conglomerate from the United Arab Emirates owned by Middle East Bank Group, UAE.
In 1991, Al-Futtaim sold its shareholding in MEB and thus in April of that year, control of the bank passed from foreign to local investors thereby Kenyanising its ownership.
With over 30 years operating in Kenya, MEB serves a broad range of clientele with branches in Nairobi, Mombasa and Eldoret. Our corporate market encompasses multinationals and small to large sized local companies in diverse sectors such as manufacturing, service delivery and agriculture. Other institutions include parastatals, NGOs, religious organizations, fund managers and insurance companies.
History of Middle East Bank Kenya
MEB Kenya started operations in Kenya in August 1981, after receiving a banking license from the Central Bank of Kenya, the national banking regulator. The initial shareholders in the bank were the Al-Futtaim Group, affiliated with the Middle East Bank Group of United Arab Emirates. In 1991, the Al-Futtaim Group divested from the bank, leaving shareholding in Kenyan hands.
In 1995, Banque Belgolaise, a Belgian financial institution acquired 25% shareholding in MEB, becoming the single largest shareholder. As a result of multiple bank mergers and acquisitions, that 25% shareholding subsequently came to be owned by BNP Paribas Fortis. 75% shareholding remains in private Kenyan hands.
Ownership
The shares of stock of Middle East Bank Kenya are privately held. The largest single shareholder, with 25% shareholding, is BNP Paribas Fortis, a Belgian financial services provider that is a subsidiary of BNP Paribas, a French banking conglomerate that is the largest banking group in the world. Shareholding in Meddle East Bank is depicted in the table below:
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | BNP Paribas Fortis of Belgium | 25.00 |
| 2 | Institutional and Individual Kenyan Investors | 75.00 |
| Total | 100.00 |
Branch network
As of August 2010, the bank maintains its headquarters in Nairobi, Kenya’s capital and largest city. It has three branches; two in Nairobi and another in Mombasa, Kenya’s second-largest city.
- Main Branch – Mebank Tower, Milimani Road, Nairobi
- Industrial Area Branch – Butere Road, Off Dar es Salaam Road, Nairobi
- Mombasa Branch – Nkrumah Road, Mombasa
- Eldoret Branch –Enterprise Road , [Nairobi]
Contacts
Meb Bank Tower, Milimani Road
P.O. BOX 47387- 00100, NBO
Mobile: +254 111 183000
