Corporate Governance and Ownership
Credit Bank Limited is an unlisted public limited Bank domiciled in Kenya.
Operating under the leadership of the Board of Directors, the Board is responsible for the overall management of the Bank and is committed to ensuring that its business and operations are conducted with integrity and in compliance with the law, internationally accepted principles and best practices in Corporate Governance.
The Board is also responsible for ensuring all stakeholders interests are safeguarded by ensuring that accountability and transparency are always maintained in the operations of the Bank.
The Bank has an authorized share capital of Kshs. 3 Billion (30 Million ordinary shares of Kshs 100/=). The issued and fully paid up share capital of the Bank as at 31st of December 2016 stood at KSH 2.4 Billion.
A summary of the Bank’s Current Shareholders stands as follows:
|SHAREHOLDERS NAMES||Corporate/Individual||% OF SHARE HOLDING|
|1. Sansora Group Ltd||Corporate||14.75%|
|2. Sanama Investments Ltd||Corporate||14.75%|
|3. Mr. Ketan Devram Morjaria*||Individual||10.16%|
|4. Mr. Jay Rajnikant Karia*||Individual||8.86%|
|5. Mr. Rajnikant Vallabhdas Karia*||Individual||5.02%|
Foreign Ownership: ** British
The Bank is currently raising more capital through private placement and this will alter the current shareholding structure.