Jamii Bora Bank
Jamii Bora Bank , is a commercial bank in Kenya. It is one of the commercial banks licensed by the Central Bank of Kenya, the national banking regulator.
History
The bank was founded, as a Charitable Trust, by fifty destitute families on the streets of Nairobi, Kenya's capital and largest city. In March 2010, it merged with another financial institution with a banking license and transformed into a fully fledged commercial bank.In March 2010, Jamii Bora merged with City Finance Bank , a small private financial services provider which, in the past, had provided services to large corporations and high-net-worth individuals. In the merger, CFB acquired JBB and took on the name of its new acquisition. Other investors in the bank include Baraka Africa Fund, and other individual investors. In March 2020, Co-operative Bank of Kenya proposed an acquisition of Jamii Bora Bank.
Assets
In July 2015, the bank's total assets were valued at approximately US$143.2 million., the bank's total assets were valued at about US$134 million, with shareholders' equity of about US$23.5 million.Ownership
Jamii Bora Bank is privately owned. A rights issue of US$4 to 6 million was successfully executed in the 4th quarter of 2010. In November 2011, a new consortium known as Asterisk Holdings, invested KES:410 million in Jamii Bora Bank.The major shareholders in the stock of the bank, are listed in the table below:
| Rank | Name of Owner | Percentage Ownership |
| 1 | Asterisk Holdings | 20.08 |
| 2 | ShoreCap II Limited | 15.25 |
| 3 | Jamii Bora Scandinavia AB | 12.17 |
| 4 | Catalyst JBB Holdings LLC | 9.65 |
| 5 | Nordic Micro Cap Investments | 7.04 |
| 6 | Cornerstone Enterprises Limited | 4.69 |
| 7 | ESOP | 4.37 |
| 8 | Other investors | 26.75 |
| Total | 100.00 |
Acquisition
In March 2020, Co-operative Bank of Kenya, the fourth-largest commercial bank in the country, began the process of acquiring 100 percent shareholding in Jamii Bora Bank. The process requires regulatory approvals.Branches
, the bank maintains a network of branches at the following locations:- Koinange Branch - Jamii Bora House, Muindi Mbingu Street, Nairobi
- Ongata Rongai Branch - Ongata Rongai, Nairobi
- Thika Branch - Kenyatta Avenue, Thika
- Kikuyu Branch - Brick House, Kikuyu
- Kisumu Branch - Mega Plaza, Oginga Odinga Street, Kisumu
- Kayole Branch - Kayole, Nairobi
- Nyeri Branch - Naivas Mall
- Mtwapa Branch - Mtwapa
- Mombasa Branch - Southern House, Moi Avenue, Mombasa
- Kawangware Branch - Mbugua Plaza Junction, Kawangware, Nairobi
- Kilimani Branch - Jamii Bora House, Argwings Kodhek road, Nairobi
- Kirinyaga Road Branch - Kirinyaga Road, Nairobi
- Kitengela Branch
- Kiambu Branch
- Wangige Branch
- Utawala Branch
- Nakuru Branch
- Kisii Branch