Development Bank of Kenya

{{Infobox company

| name = Development Bank of Kenya

| type =

| slogan =

| foundation = 1963

| location = Loita Street, Nairobi, Kenya

| key_people = H.K. Mengech
(chairman)
Victor Kidiwa
(chief executive officer)

| num_employees =

| industry = Financial services

| products =

| revenue = {{profit}} Aftertax: US$832,200 (KES:71.953 million (2013)

| assets = US$180 million (KES:15.58 billion) (2013)

| homepage = {{URL|http://devbank.com/}}

}}

Development Bank of Kenya is a commercial bank in Kenya. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.{{cite web|format=PDF|url=https://www.centralbank.go.ke/images/docs/Bank%20Supervision%20Reports/Commercial%20Banks%20Directrory%20-%2013%20December%202011.pdf|title=Directory of Commercial Banks And Mortgage Finance Companies|date=|accessdate=12 August 2014}}

Overview

Development Bank of Kenya is a medium-sized financial institution providing an array of financial services to both individuals and businesses. {{asof|December 2013}}, the total asset valuation of the bank was approximately US$180 million (KES:15.58 billion), with shareholder's equity of about US$21 million (KES:1.822 billion).{{cite web| url=http://www.devbank.com/UserFiles/File/DEC%202013.pdf|title=Audited 31 December 2013 Financial Statement|date=March 2014|accessdate=12 August 2014|publisher=Development Bank of Kenya Limited}} At that time, the bank was ranked number 26, by assets, among the 43 licensed banks in Kenya.{{cite web|url=http://bankelele.co.ke/2014/04/kenya-bank-rankings-2013-part-i.html|title=Kenya Bank Rankings By Assets In 2013|publisher=Bankelele.Co.Ke|date=28 April 2014| accessdate=12 August 2014}}

History

Development Bank of Kenya was established in 1963 as a non-banking financial institution. Its primary focus at that time was to promote and develop commercially viable projects in Kenya. In 1964, it began financing development projects as a development finance institution. As part of the banking reforms of 1996, it converted to a commercial bank and began accepting customer deposits.{{cite web|url=http://www.devbank.com/about.php?subcat=2&title=Historical%20%20Background|title=Development Bank of Kenya: Historical Background|date=|accessdate=12 August 2014|publisher=Development Bank of Kenya Limited}}

Ownership

Shareholding in Development Bank of Kenya at its inception included (a) the Government of Kenya, through the Industrial and Commercial Development Corporation, (b) the British Government, through Commonwealth Development Corporation and (c) the Government of Germany, through the German Investment Corporation. In 1967, the Dutch Government, through the Netherlands Development Finance Company, became the fourth shareholder. In 1981, the World Bank, through the International Finance Corporation, became the fifth shareholder. Over the years, the non-Kenyan shareholders have divested from the bank and shareholding as depicted in the table below:{{cite web|url=http://www.devbank.com/about.php?subcat=27&title=Shareholders|title=Development Bank of Kenya Limited: Shareholders|publisher=Development Bank of Kenya Limited|accessdate=12 August 2014|date=}}

class="wikitable sortable" style="margin-left:auto;margin-right:auto" \|+ Development Bank of Kenya stock ownership ! style="width:2em;" \|Rank !!Name of owner!!Percentage ownership
1	Industrial and Commercial Development Corporation	89.3
2	TransCentury Investments	10.7
	Total	100.00

Branch network

{{asof|August 2014}}, the bank maintains its headquarters in Nairobi, Kenya's capital and largest city. It has one branch on the ground floor of its headquarters building.{{cite web| url=http://www.experiencekenya.co.ke/banks.php|title=The Addresses of the Headquarters of Kenyan Commercial Banks|accessdate=12 August 2014|date=| publisher=ExperienceKenya.Co.Ke}}