Standard Chartered Kenya

History

According to the website of the Central Bank of Kenya, the Standard Bank of British South Africa received its commercial banking license in 1910 to start banking operations in British East Africa. In January 1911, it opened its first two branches, one in the national capital, Nairobi, and another in the port city of Mombasa.

In 1969, the bank's name was changed to Standard Chartered Bank of Kenya when its parent company, the Standard Bank of South Africa, merged with the Chartered Bank of India, Australia and China, forming the Standard Chartered Bank. In 1987, Standard Chartered sold all its shareholding in Standard Bank of South Africa, entirely divesting from the group.

The stock of Standard Chartered Kenya was listed on the Nairobi Securities Exchange (NSE) in 1989,{{cite web| url=https://www.sc.com/ke/about-us/index.html|title=History of Standard Chartered Kenya|publisher=Standard Chartered Bank Kenya |accessdate=5 August 2014}} offering 21 million shares to the public. This was the largest single placing at the NSE at the time. , the bank had a network of 34 branches, 90 automated teller machines and nearly 1,700 employees.

Ownership

The stock of the bank is listed on the Nairobi Stock Exchange, where it trades under the symbol: SCBK. The shareholding in the bank is summarized in the table below:

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Subsidiaries

In 2006, Standard Chartered Kenya acquired 25% shareholding in First Africa Capital, a financial services advisory company with headquarters in Nairobi and offices in London and Johannesburg, co-founded by Wanjiku Mugane, a Kenyan attorney and investment banker, who served as its CEO. In 2009, Standard Chartered acquired 100% of First Africa stock, renaming the company Standard Chartered Securities (SCS), to reflect the new ownership. Caroline Wanjiku Mugane served as the chief executive officer at SCS from 2006 until Standard Chartered Bank closed the subsidiary in 2013.

References

References

1. "Directory of Commercial Banks And Mortgage Finance Companies". [[Central Bank of Kenya]].
2. (28 April 2014). "Kenya Bank Rankings By Assets 2013. As at 2015 the CEO is Mr. Caleb Mugendi.". Bankelele.Co.Ke.
3. "A History of Banking In Kenya: From The 1800s To The 1900s". Kenya Bankers' Association © 2013 Kenya Bankers Association.
4. "Standard Bank of South Africa (Later The Standard Bank Limited)". Standard Bank of British South Africa Limited.
5. "Standard Bank: Our History In Africa". [[Standard Bank.
6. "Shareholding In Standard Chartered Kenya". Standard Chartered Bank Kenya.
7. Omondi, Michael. (27 October 2013). "StanChart Shuts Down Corporate Advisory Unit". [[Business Daily Africa]] (Nairobi).