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Kenya Commercial Bank (KCB) last month moved into the Southern
Sudan, opening branches in Juba and Rumbek. The KCB becomes
the first international bank to make the move. Sudan Mirror
Corespondent.Kenya Commercial Bank (Sudan) Limited
KCB (Sudan) Limited was incorporated in December
2005 as a wholly owned subsidiary of Kenya Commercial Bank.
It is part of the KCB Group, which comprises KCB Kenya, KCB
Tanzania and Savings and Loan (S&L) Kenya, KCB Uganda
Limited and KCB Rwanda and is backed by the financial stability
and favourable heritage of Kenyas longest established
banking organization that has been in operation for over 100
years. KCB Kenya, KCB Tanzania, KCB Sudan, KCB Uganda and
KCB Rwanda offer a wide range of banking and financial services,
specializing in the provision of medium and long-term finance
whereas S&L specializes in mortgage financing. KCB Sudan
now has six branches.
Its establishment is in line with the Banks
regional expansion strategy, which is underpinned by its vision
to be the preferred provider of financial solutions
in Africa with a global reach. KCB Sudan has three branches
in Juba and one each in Rumbek, Yei and Bentiu. It has plans
to expand to other viable business centers of Southern Sudan
such as Yambio, Bor, Torit, Wau, Kuajok, Nimule, Aweil and
Malakal in a short period of time to come. As part of this
strategy, KCB has already established other subsidiaries in
Uganda, Rwanda, Tanzania and possibly, Burundi.
KCB (S) Limited Head Office is located in
the City of Juba. The subsidiary is run by a highly motivated
team led by a Managing Director who is supported by Business
Development managers and is geared up for the challenge of
supporting the reconstruction of Southern Sudan. The subsidiary
offers a wide range of banking services with tailor made products
and services for non-governmental organizations, individuals
and the young civil Service in the Government of Southern
Sudan.
The origin of Kenya Commercial Bank dates
back to 1896 when its predecessor, the National Bank of India
(NBI) opened a branch in Mombasa. In January 1958, NBI merged
with Grindlays Bank Limited, which was later in 1970, acquired
by the Kenya Government and renamed Kenya Commercial Bank
Limited.
Backed by the KCB Group, KCB (S) Ltd is well
placed to offer more flexible, global, customer oriented and
cost effective financial services. It is committed to the
highest standards of service, professionalism and integrity
in nourishing the prosperity of South Sudan.
KCB (S) Ltd is committed to offering a wide
range of banking and financial services as follows:
* Deposit Accounts (current, savings and
fixed deposit accounts) for local and foreign currency
* Cash deposits and withdrawals and cheques clearing in local
and foreign currencies
* Trade finance products - credit letters, documenatry collections,
guarantees, pre & post shipment finance, bills discounting
and stock financing
* Loan and advances such overdarfts and term loans
* Remittances such as SWIFT, EFT, standing orders, salary
processing and banker's cheques
* Other services such as safe custody, cash movement and business
advisory services
Website: http://www.kcbbankgroup.com
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