First Community Bank
Type | Private |
---|---|
Industry | Financial services |
Founded | 2007 |
Headquarters | Nairobi, Kenya |
Key people | Sheikh Mohamed Mbaye Chairman Hussein Hassan Chief Executive Officer |
Products | Checking, savings, financing, investments, debit cards |
Revenue | Aftertax:US$1.518 million (KES:131.202 million) (2013) |
Total assets | US$130.85 million (KES:11.305 billion) (2013) |
Number of employees | 300+ |
Website | www |
First Community Bank (FCB), is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[1]
Overview[]
As of December 2019, the bank's total assets were valued at about US$187.62 million (KES:18.762 billion), with shareholders' equity of about US$14 million (KES:1.46 billion), and customer deposits of US$161 million (KES:16.126 billion).[2] At that time, the bank was ranked number 21, by assets, out of 43 licensed banks in Kenya then.
History[]
First Community Bank was established in 2007 according to Sharia law by private Muslim investors in Kuwait, Kenya and Tanzania.[3] The bank received a Kenyan commercial banking license the same year, and started operations in June 2008. The FCB is the first Kenya-based bank to operate according to the laws of Sharia. Since the founding of First Community Bank, another Sharia bank, the Gulf African Bank, has also received a commercial license from the Central Bank of Kenya.[4][5]
Subsidiaries[]
The bank's first subsidiary is FCB Takful Insurance Agency, in which it maintains 100% shareholding. The insurance agency was established in 2010.[6] The bank also owns a second subsidiary, FCB Capital Limited, the first Sharia-compliant Investment Bank in Kenya. It also is wholly owned by First Community Bank.[7]
Branch network[]
As of March 2020, the bank maintains a network of branches at the following locations:[8]
- Wabera Street Branch - Prudential Assurance Building, Wabera Street, Nairobi
- Eastleigh Branch I - United Textile Building, First Avenue, Eastleigh, Nairobi
- Eastleigh Branch II - General Warungu Street, Eastleigh, Nairobi
- Industrial Area Branch - Enterprise Road, Nairobi
- Kimathi Street Branch - Jamia Mosque, Nairobi
- Westlands Branch - Mpaka Plaza, Mpaka Road, Westlands, Nairobi
- South C Branch - South C Shopping Center, Nairobi
- Garissa Branch - Bajweed Building, Wajir Road, Garissa
- Lunga Lunga Branch - Lunga Lunga Road, Industrial Area, Nairobi
- Kisumu Branch - CAC House, Oginga Odinga Street, Kisumu
- Nakuru Branch - Merica Hotel Building, Kenyatta Avenue, Nakuru
- Malindi Branch - Malindi Shopping Complex, Lamu Road, Malindi
- Mombasa Branch I - Shah Mansion Building, Digo Road, Mombasa
- Mombasa Branch II - Imara Building, Digo Road, Mombasa
- Moyale Branch - Shariff Guest House, Moyale
- Wajir Branch - Mandera Road, Wajir
- Mihrab Branch- FCB Mihrab Building, Lenana Road Nairobi
- Isiolo Branch- White House Building, Moyale-Isiolo Road Isiolo
- Bondeni Branch- Bat-Haf Plaza, Abdel Nasser Road Mombasa
- AMAL Branch- Amal Plaza, Eastleigh First Avenue Nairobi
Governance[]
The bank is governed by Board of Directors. , one of the non-Executive Directors, is the Chairman of the Board. The Chief Executive Officer is .
See also[]
- CBK
- Kenya Banks
- Kenya Economy
- Sharia Banking
- Gulf African Bank
References[]
- ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 9 August 2014.CS1 maint: numeric names: authors list (link)
- ^ FCB, . (2020). "Audited 31 December 2019 Financial Statement". First Community Bank (FCB). Retrieved 31 March 2020.CS1 maint: numeric names: authors list (link)[dead link]
- ^ Muslim, Investor (8 July 2014). "Kenya's First Islamic Bank Steps Up Staff Recruitment". :Muslim-Investor.Com. Retrieved 9 August 2014.
- ^ Harress, Christopher (26 September 2013). "Islamic Banking Revolution: Africa Is Seeing An Explosion In Banks Looking To Cash In On Continent's Growing Muslim Population". International Business Times (New York). Retrieved 10 August 2014.
- ^ Financials, . (3 June 2010). "Kenyan Islamic Bank Gulf Says Swings To Q1 Profit". Thomson Reuters. Retrieved 10 August 2014.CS1 maint: numeric names: authors list (link)
- ^ Kiragu, Peter (24 January 2014). "Islamic Re-Insurance To Be Unveiled This Year". The Star (Nairobi). Archived from the original on 10 August 2014. Retrieved 10 August 2014.
- ^ FCBK, . "Profile of FCB Capital Limited". First Community Bank of Kenya (FCBK). Archived from the original on 17 August 2014. Retrieved 10 August 2014.CS1 maint: numeric names: authors list (link)
- ^ FCBL, . "The Branch Network of First Community Bank". First Community Bank Limited. Archived from the original on 17 August 2014. Retrieved 31 March 2020.CS1 maint: numeric names: authors list (link)
External links[]
- Banks of Kenya
- 2007 establishments in Kenya
- Banks established in 2007
- Companies based in Nairobi