Paramount Universal Bank

From Wikipedia, the free encyclopedia
(Redirected from Paramount Bank)
Paramount Bank
Company typePrivate company
IndustryFinancial services
Founded1993 (1993)
HeadquartersNairobi, Kenya
ProductsTransaction accounts, Savings, Investments, Debit Cards
Websitewww.paramountbank.co.ke

Paramount Bank, is a commercial bank in Kenya. It is one of the forty-four commercial banks licensed by the Central Bank of Kenya, the national banking regulator.[1]

Paramount Bank is a small retail bank in Kenya. As of December 2013, the bank was ranked number 37, by assets, out of 43 licensed commercial banks in the country.[2] The bank is an active member of the MoneyGram money transfer network.

History[edit]

The bank was established in 1993, as a deposit-taking, non-bank financial institution called Combined Finance Limited. The company's share capital at that time was approximately US$300,000 (KES:25 million). In 1995, after increasing its share capital and following the issuance of a commercial banking license, the company rebranded to Paramount Bank Limited, and began banking operations. In 2000, Paramount Bank merged with Universal Bank Limited to form Paramount Universal Bank.[3][4]

Ownership[edit]

As of August 2014, Paramount Universal Bank is a privately held company whose owners are not publicly known.

Branch network[edit]

The bank maintains a network of branches at the following locations, as of January 2015:[5]

  1. Westlands Branch - Sound Plaza, Woodvale Grove, Westlands, Nairobi (main branch)
  2. Parklands Branch - Amani Plaza, 3rd Parklands Avenue, Parklands, Nairobi
  3. Kimathi House Branch - Kimathi House, City Centre, Nairobi
  4. Koinange Street Branch - Paramount Bank House, Koinange Street, Nairobi
  5. Mombasa Branch - Jubilee Building, Moi Avenue, Mombasa
  6. Eldoret Branch - Karims Hardware Building, Oloo Street, Eldoret
  7. Industrial area Branch - Dar es Salaam Road Nairobi

See also[edit]

References[edit]

  1. ^ "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya. Retrieved 5 August 2014.
  2. ^ "Kenya Bank Rankings By Assets 2013". Bankelele.Co.Ke. 28 April 2014. Retrieved 5 August 2014.
  3. ^ "The History of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.
  4. ^ "Central Bank of Kenya: Mergers or Acquisitions Among Kenyan Commercial Banks - 1989 To 2010". Central Bank of Kenya. Archived from the original on 18 July 2014. Retrieved 5 August 2014.
  5. ^ "The Branches of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.

External links[edit]