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Commercial Bank Of Africa

At CBA, your success is our success. That’s why everything we do is focused around helping you achieve your financial goals. Our aim is to provide you with exceptional financial services that enable you to save, invest and grow your wealth. By offering services that are simple and effective we strive to give you time for more, for things that matter most to you. Have a look around this site to find out how you can benefit from our unique range of banking products and services. 

History

The bank was founded in 1962 in Dar es Salaam, Tanzania. Soon, branches were opened in Nairobi & MombasaKenya and inKampala, Uganda. When Tanzania nationalised private banks in 1967, the bank moved its headquarters to Nairobi. Following political changes in Uganda in 1971, the bank sold its assets in that country.

At the beginning, CBA was owned by a consortium of financial institutions known as Societe Financiere pour les pays D`Outre Mer (SFOM), based in Switzerland. Original members of the consortium included Banque National de Paris, Bank Bruxelles Lambert, Commerz Bank and Bank of America. In 1980, Bank of America acquired 84% shareholding, effectively buying out all the other SFOM partners. 16% shareholding in CBA remained in the hands of Kenyan investors. During the 1980s Bank of America divested from the bank, putting 100% shareholding in CBA in the hands of Kenyan nationals.

Ownership

Commercial Bank of Africa is wholly owned by Commercial Bank of Africa Group.

 

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