Banks

NIC BANK

BY Steve Biko · April 2, 2012 06:04 am

NIC was incorporated in Kenya on 29th September 1959, when Standard Bank Limited (‘Standard’) and Mercantile Credit Company Limited (Mercantile) -both based in the United Kingdom – jointly formed the company. The company was amongst the first non-bank financial institutions to provide hire purchase and installment credit finance facilities in Kenya.

NIC became a public company in 1971 and is currently quoted on the Nairobi Stock Exchange with approximately 21,000 shareholders. Barclays Bank of Kenya Limited acquired 51% of NIC’s total shares through the acquisition of Mercantile in the 1970s and Standard’s shareholding in NIC in the 1980s. Between 1993 and 1996, BBK divested its shares, selling 38% of its shares to the public in 1994, and the remaining 20% in 1996 to the First Chartered Securities Group (FCS).

Due to changing trends, regulatory requirements in the Kenyan banking industry and the need to meet growing customer requirements, NIC obtained a commercial banking license in 1995. In order to effectively diversify into mainstream commercial banking, NIC Bank merged in November 1997 with African Mercantile Bank Limited (AMBank), which was then owned by FCS, by way of a share swap. The purpose of this merger was to allow NIC Bank to enhance its market position, provide a broader and more efficient range of services to its customers and increase the returns to shareholders.

Services Offered

Whilst the Bank provides the usual array of banking products e.g. demand, call and time deposit accounts, overdrafts and loans, in local and all major foreign currencies, we also offer the following additional services, which are available to all our customers:

* Electronic banking facilities (Internet, SMS and Access Banking)
* Trade Finance for both imports and exports including Letters of Credit, Bills for Collection, Foreign Exchange dealing etc.
* Asset Finance including staff car loan schemes
* Cash management products e.g. Paynet and Tradenet
* Custodial Services
* Bulk cash handling
* Insurance Premium Financing
* Private banking services for high net-worth customers
* Automated Teller Machines (ATM’s)

Personal banking

* Current Account
* Deposit Account
* Credit Card
* Insurance Premium Finance
* Savings Account
* Treasury & Forex
* Loans & Overdrafts
* Asset Finance
* Insurance Premium Finance

Business banking

* Institutional Banking
* Business Advantage
* Asset Finance
* Treasury

Corporate banking

* Corporate overdrafts
* Trade Finance
* Loans against Trust Receipts
* Custodial Services
* Asset Finance
* Term Loans
* Liabilities
* Treasury & Forex

Contacts

Nairobi
NIC House Branch
NIC House, Masaba Road
P.O Box 44599, 00100
Tel: 254 2 2888000
Fax: 254 2 2888505

Nairobi
The Mall Branch
The Mall, Westlands
PO Box 44599, 00100
Tel: 4451721/2
Fax: 4450847

Nairobi
The Junction Branch
PO Box 44599, 00100
Tel: 254 20 3874730/ 3878204
3872834
Fax: 3875436

Nairobi
City Centre Branch
P.O Box 30090, 00100
Tel: 254 2 229251/2
Fax: 254 2 338721

Nairobi
Harambee Avenue Branch
P.O Box 44599, 00100
Tel: 254 2 253429/210661/9
Fax: 254 2 2211757

Nairobi
Prestige Plaza Branch
P.O Box 44599, 00100
Tel: 254 2 3874073/50
Fax: 254 2 2888523

Nairobi
NIC House Service Centre
P.O Box 44599, 00100
Tel: 254 2 2888217/218
Fax: 254 2 2888523

Nairobi
20th Century Service Centre
P.O Box 44599, 00100
Tel: 254 2 2213408/2223908
Fax: 254 2 2888523

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