Skip to content
Market News

Commercial International Bank Now Owns 100% Mayfair

BY Juma · January 31, 2023 09:01 am

KEY POINTS

Mayfair started operations in Kenya in 2017 and has five branches in Nairobi, Eldoret, and Mombasa. It is categorized as a "small bank" with a market share of 0.26 percent.

KEY TAKEAWAYS

Commercial Internation Bank started operations in 1975 in Egypt. It is currently the leading private sector bank in Egypt with a total asset base of 2.5 trillion shillings.

Commercial International Bank from Egypt has been given a go-ahead by the Central Bank of Kenya to acquire the remaining 49 percent of shares from Mayfair Bank Limited. The acquisition, according to the Central Bank, takes effect from January 31, 2023.

With the acquisition, the Commercial International Bank now owns 100 percent of Mayfair Bank after it acquired 51 percent of the shares in 2020.

Mayfair started operations in Kenya in 2017 and has five branches in Nairobi, Eldoret, and Mombasa. It is categorized as a “small bank” with a market share of 0.26 percent.

Commercial International Bank, on the other hand, started operations in 1975 in Egypt. It is currently the leading private sector bank in Egypt with a total asset base of 2.5 trillion shillings.

Here is the statement from the Central Bank of Kenya:

Central Bank

Related Content: CBK Retains Lending Rate At 8.75 Percent

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

Trending Stories
Related Articles
Explore Soko Directory
Soko Directory Archives