Kingdom Bank Limited
Kingdom Bank Limited is a Kenyan commercial bank and subsidiary of Co-operative Bank of Kenya, formerly operating as Jamii Bora Bank.
Last updated August 31, 2026
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Overview
Kingdom Bank Limited is a commercial bank in Kenya operating under the Kingdom Bank brand. It is licensed by the Central Bank of Kenya, the country’s banking regulator, and is headquartered at Kingdom Towers on Argwings Kodhek Road in Nairobi’s Kilimani area. The bank’s present identity dates from August 2020, when Jamii Bora Bank was rebranded as Kingdom Bank following the acquisition of a controlling stake by Co-operative Bank of Kenya. The institution has roots in a social-finance initiative created by 50 destitute families living on the streets of Nairobi. That charitable-trust origin gave the organization an inclusion-oriented foundation before it became a regulated banking institution. In March 2010, Jamii Bora merged with City Finance Bank, a smaller licensed financial-services provider that had historically served larger companies and high-net-worth customers. The transaction transformed the combined institution into a fully fledged commercial bank operating under the Jamii Bora Bank name. Investors associated with the business included Baraka Africa Fund and individual investors. A rights issue was completed in the fourth quarter of 2010, and Asterisk Holdings invested KSh410 million in November 2011. The bank’s ownership and strategic direction changed substantially in 2020. In March of that year, Co-operative Bank of Kenya announced a proposed acquisition of Jamii Bora Bank. Regulatory approvals were obtained in August, allowing Co-operative Bank to acquire a 90 percent shareholding. On 25 August 2020, the institution adopted the Kingdom Bank name. It subsequently became a subsidiary of Co-operative Bank of Kenya, linking it to one of Kenya’s established banking groups while retaining a distinct operating brand. Kingdom Bank serves customers through a branch network spread across Nairobi and several other Kenyan counties and urban centers. Locations identified for the network include Nairobi, Mombasa, Kisumu, Nakuru, Eldoret, Thika, Machakos, Meru, Nyeri, Kisii, Kitale, Embu, Kiambu, Bungoma, Kirinyaga, Naivasha, Mtwapa, Kitengela, Kikuyu, Wangige, Kayole, Kariobangi, Kawangware, Utawala and Ongata Rongai. The reference material reports a network of 29 branches, although branch counts and locations can change over time. The bank also operates through related businesses. Kingdom Bancassurance Intermediary Limited, formerly Jamii Bora Insurance Agency Limited, supports insurance-intermediation activities, while Kingdom Leasing Limited, formerly Jamii Bora Leasing Limited, provides leasing-related services. Together with its branch network and relationship with Co-operative Bank, these businesses give Kingdom Bank a broader financial-services presence than a standalone deposit-taking institution. The bank has reported significant growth in its balance sheet since the Jamii Bora period. Its total assets were approximately KSh12.5 billion in March 2018. For December 2023, the reference material reports total assets of KSh36.7 billion, profit before tax of KSh1.08 billion, interest income of KSh3.7 billion and non-interest income of KSh533.7 million. These figures describe a Kenyan banking business that expanded after the ownership transition, although the supplied material does not provide a complete breakdown of products, customer segments, market share or later financial performance. Kingdom Bank’s current market role is therefore best characterized as a locally focused commercial bank within the Co-operative Bank Group, with roots in financial inclusion and a broad physical presence in Kenya.
History
Kingdom Bank developed from a Nairobi social-finance initiative established as a charitable trust by 50 destitute families. The organization’s early purpose was associated with supporting people who had experienced severe economic hardship. It later moved beyond its charitable-trust origins into regulated financial services. In March 2010, the institution merged with City Finance Bank, a small private financial-services provider that had previously served corporations and high-net-worth individuals. The transaction involved a licensed banking institution and resulted in the combined business operating as Jamii Bora Bank. This marked the organization’s transition into a fully fledged commercial bank. Baraka Africa Fund and individual investors were among the investors associated with the bank during this period. Jamii Bora Bank raised additional capital through a rights issue completed in the fourth quarter of 2010. In November 2011, Asterisk Holdings, a new investment consortium, invested KSh410 million in the bank. These transactions formed part of the institution’s privately held capital structure as it expanded its commercial banking activities. By March 2018, the bank’s total assets were reported at approximately KSh12.5 billion. The most consequential later change came in 2020. Co-operative Bank of Kenya proposed acquiring Jamii Bora Bank in March, beginning a process that required regulatory clearance. On 7 August 2020, the necessary approvals were reported for Co-operative Bank to acquire 90 percent of the bank’s shareholding. On 25 August, Jamii Bora Bank was rebranded as Kingdom Bank Kenya Limited. The acquisition made Kingdom Bank a subsidiary of Co-operative Bank of Kenya while preserving a separate brand and operating identity. Its headquarters moved forward under the Kingdom Towers name, formerly Jamii Bora Towers, on Argwings Kodhek Road in Nairobi. The bank continued to operate a broad Kenyan branch network and maintained related subsidiaries in bancassurance and leasing: Kingdom Bancassurance Intermediary Limited and Kingdom Leasing Limited, both formerly carrying Jamii Bora names. The supplied reference describes a network of 29 branches, with locations across Nairobi and numerous counties and towns, including Mombasa, Kisumu, Nakuru, Eldoret, Meru, Nyeri, Machakos, Thika, Embu, Kisii, Kitale, Bungoma, Kiambu, Naivasha, Mtwapa and others. This geographic footprint supports the bank’s role as a locally focused commercial institution rather than an international banking brand. For December 2023, the reference material reports total assets of KSh36.7 billion, profit before tax of KSh1.08 billion, interest income of KSh3.7 billion and non-interest income of KSh533.7 million. The available material does not establish a complete current product catalogue or a later ownership change. On the supplied evidence, Kingdom Bank remains an active Kenyan commercial bank within the Co-operative Bank Group.
- 2023
Reported growth in assets and earnings
[1]Reported December figures included KSh36.7 billion in assets and KSh1.08 billion in profit before tax.
- 2020
Acquisition by Co-operative Bank
[1]Co-operative Bank received approval to acquire a 90 percent shareholding in Jamii Bora Bank.
- 2020
Kingdom Bank rebrand
[1]Jamii Bora Bank adopted the Kingdom Bank Kenya Limited brand on 25 August.
- 2018
Reported asset base reaches KSh12.5 billion
[1]The bank reported total assets of approximately KSh12.5 billion in March.
- 2011
Asterisk Holdings investment
[1]Asterisk Holdings invested KSh410 million in Jamii Bora Bank.
- 2010
Merger with City Finance Bank
[1]Jamii Bora merged with City Finance Bank and became a fully fledged commercial bank operating under the Jamii Bora Bank name.
- 2010
Rights issue completed
[1]A rights issue reportedly raised between US$4 million and US$6 million during the fourth quarter.
Creation as a charitable trust
[1]The institution originated as a charitable trust established by 50 destitute families in Nairobi.
Products and positioning
A Kenyan commercial bank with roots in financial inclusion, a nationwide branch-oriented presence, and strategic backing from Co-operative Bank of Kenya.
Banking services
Commercial banking
Kingdom Bank operates as a Central Bank of Kenya-licensed commercial bank. The supplied material confirms its commercial banking status and branch network, but does not provide a sufficiently detailed catalogue of individual deposit, payment or credit products.
Insurance distribution
Bancassurance intermediation
Kingdom Bancassurance Intermediary Limited is the bank’s insurance-intermediation subsidiary. It was formerly known as Jamii Bora Insurance Agency Limited.
Asset finance
Leasing
Kingdom Leasing Limited is the group’s leasing-related subsidiary. It formerly operated under the name Jamii Bora Leasing Limited.
Brand decisions
2020
Acquisition of Jamii Bora BankM&ABackground
Co-operative Bank of Kenya sought to acquire Jamii Bora Bank as part of an expansion of its banking-group structure. The transaction required approval from the relevant regulators.
Action taken
After approvals obtained on 7 August 2020, Co-operative Bank acquired a 90 percent shareholding. The bank was subsequently rebranded Kingdom Bank Kenya Limited on 25 August 2020.
Aftermath
Kingdom Bank became a subsidiary of Co-operative Bank of Kenya while continuing under its own operating brand.
Recent events
Jamii Bora Bank shareholders approve Co-op Bank's 90% acquisition offer[2]
Reported:
Jamii Bora Bank shareholders approved Co-op Bank’s offer to acquire 90% of the bank through a subscription of new ordinary shares. The source says regulatory approvals were still among the next steps.
Sources2 sources
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