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Conversions

Several non-bank financial institutions (NBFIs) have transformed to commercial banks over the years. They do this by ensuring that they meet the minimum prudential requirements for commercial banks including capital adequacy, liquidity and assets requirements. This transformation is known as conversion. The schedule below details the conversions which have taken place since 1994:

wdt_IDNo.Financial institution (old name)Commercial Bank (new name)Date approved
1 1 Universal Finance Ltd Universal Bank Ltd 03.11.1994
2 2 Akiba Loans & Finance Ltd Akiba Bank Ltd 14.11.1994
3 3 Diamond Trust Company Ltd Diamond Trust Bank Ltd 15.11.1994
4 4 Credit Kenya Finance Ltd Credit Bank Ltd 30.11.1994
5 5 Consolidated Finance Ltd African Banking Corp. Ltd 08.12.1994
6 6 Imperial Finance Co. Ltd Imperial Bank Ltd 08.12.1994
7 7 Lake Credit Finance Ltd Reliance Bank Ltd 13.01.1995
8 8 Habib Kenya Finance Ltd Habib African Bank Ltd. 26.01.1995
9 9 Finance Institution of Africa Ltd FINA Bank Ltd 13.01.1995
10 10 Air Credit Finance Ltd Ari Bank Corporation Ltd 07.03.1995