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Victoria Commercial Bank Limited

Company type	Private
Industry	Financial services
Founded	1987 (age 36–37)
Headquarters	Nairobi, Kenya
Key people	Seth Ketaki Chairman Yogesh K Pattni Managing Director
Products	Loans, Checking, Savings, Investments, Debit Cards
Revenue	Aftertax: US$4.5 million (KES:649.48 million) (2022)
Total assets	US$360.3 million (KES:52.08 billion) (2022)
Number of employees	110 (2023)
Website	Homepage

Victoria Commercial Bank (VCB) is a private bank in Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the Central Bank and national banking regulator.

Location

The bank maintains five branches in Nairobi, Kenya's capital. The main branch is located at Victoria Towers, in the upscale neighborhood of Upper Hill, about 4.6 kilometres (3 mi) southwest of the central business district of Nairobi, Kenya's capital city.

History

Victoria Commercial Bank was established in 1987 as Victoria Finance Company, a non-bank finance institution (NBFI). In 1996, following the issuance of a banking licence by the Central Bank of Kenya, the company rebranded to Victoria Commercial Bank.

Overview

The bank is a Tier III private bank in Kenya, East Africa's largest economy. VCB focuses on serving large corporations and high-net-worth clients. The bank also offers personal banking services to the employees of its corporate clients. Later, it began making loans to qualifying small and medium enterprises (SMEs).

As of December 2022, the bank's total assets were valued at about US$360.3 million (KES:52.08 billion), with shareholders' equity of about US$49.4 million (KES:7.32 billion).

Ownership

As of January 2017, the shareholding in the stock of Victoria Commercial Bank was as follows:

Branches

As of July 2016, Victoria Commercial Bank maintains five branches in the city of Nairobi, Kenya.

Credit rating

In July 2016, the South African credit rating agency Global Credit Ratings (GCR) rated the bank as BBB with stable outlook. The bank has a history of "operating without a loan default for the last 10 years". During the first 6 months of 2017, VCB declared its first non-performing loan in the past 10 years. The defaulted loan is valued at KSh18.3 million. (approx. US$180,000).

See also

• List of banks in Kenya
• Economy of Kenya

References

1. James Rogoi (2 March 2023). "Kenyan bank where walk-in customers are forbidden". Business Daily Africa. Nairobi, Kenya. Retrieved 3 September 2023.
2. CBK (13 July 2016). "Directory of Licenced Commercial Banks, Mortgage Finance Institutions And Authorised Non-Operating Bank Holding Companies" (PDF). Nairobi: Central Bank of Kenya (CBK). Retrieved 13 July 2016.
3. "Road Distance Between Nairobi City Center, Kenya and Victoria Towers, Nairobi, Kenya" (Map). Google Maps. Retrieved 3 September 2023.
4. VCB (14 July 2016). "Victoria Commercial Bank: About Us: Company Profile". Nairobi: Victoria Commercial Bank (VCB). Retrieved 14 July 2016.
5. Neptune, Software (20 October 2008). "Kenya's Victoria Commercial Bank Signs for Neptune Platform". Finextra.Com. Retrieved 4 August 2014.
6. Mboya, Elvis (19 April 2018). "Victoria Bank keeps bad loans at zero per cent". Business Daily Africa. Nairobi. Retrieved 20 April 2018.
7. VCB (17 March 2023). "Audited 31 December 2022 Financial Report" (PDF). Victoria Commercial Bank (VCB). Nairobi, Kenya. Retrieved 3 September 2023.
8. VCB (31 December 2017). "Victoria Commercial Bank: Significant Shareholders". Nairobi: Victoria Commercial Bank (VCB). Retrieved 20 August 2017.
9. ^ George Ngigi (13 July 2016). "Victoria Bank retains rating on clean loans records". Business Daily Africa. Nairobi, Kenya. Retrieved 3 September 2023.
10. Herbling, David (20 August 2017). "Victoria bank sees first default after 10 years". Daily Nation. Nairobi. Retrieved 20 August 2017.

External links

• Website of Central Bank of Kenya
• Website of Victoria Commercial Bank
• Victoria Commercial Bank Profit After Tax drops by 17 Percent

v t e Banks of Kenya
Central bank	Central Bank of Kenya
Commercial bank	Absa Bank Access Bank Kenya African Banking Corporation Bank of Africa Bank of Baroda Bank of India CIB Kenya Citibank NA Kenya Consolidated Bank of Kenya Cooperative Bank of Kenya Credit Bank Development Bank of Kenya Diamond Trust Bank East African Development Bank Ecobank Kenya Equity Bank Family Bank Guaranty Trust Bank Guardian Bank Gulf African Bank Habib Bank AG Zurich Housing Finance Company of Kenya I&M Bank Kingdom Bank Limited Kenya Commercial Bank Middle East Bank Kenya M-Oriental Bank National Bank of Kenya NCBA Bank Paramount Universal Bank Post Bank Premier Bank Prime bank SBM Bank Kenya Sidian Bank Stanbic Bank Standard Chartered Kenya United Bank for Africa Victoria Commercial Bank
Financial services organization	DTB Group Equity Group Holdings HF Group I&M Holdings KCB Group Kenya Mortgage Refinance Company NCBA Group
Foreign banks	Bank of China Bank of Kigali FirstRand HDFC Bank HSBC Nedbank
Defunct banks	Chase Bank Commercial Bank of Africa (Formerly part of CBA Group) Dubai Bank Kenya Euro Bank Fina Bank Giro Commercial Bank Habib Bank Imperial Bank Limited Spire Bank
Microfinance Institutions	Choice Microfinance Bank Faulu Kenya Kenya Women Microfinance Bank SMEP Microfinance Bank
SACCOs	Imarisha Sacco Society Mwalimu National Sacco United Nations Sacco Society Unaitas
Related Topics	Automated Teller Machine (ATM) ATM usage fees De-Materialisation (DEMAT) Financial services Foreign Exchange (FOREX) National Electronic Fund Transfer (NEFT) Real Time Gross Settlement (RTGS) Structured Financial Messaging System (SFMS)

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01°18′03″S 36°48′56″E / 1.30083°S 36.81556°E / -1.30083; 36.81556

• Banks of Kenya
• Banks established in 1987
• Companies based in Nairobi
• Kenyan companies established in 1987