Paramount Universal Bank

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
TypePrivate company
IndustryFinancial Services
Founded1993 (1993)
HeadquartersNairobi, Kenya
ProductsTransaction accounts, Savings, Investments, Debit Cards
Websitewww.paramountbank.co.ke

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

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

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

Branch network

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

References
  1. CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 5 August 2014.CS1 maint: numeric names: authors list (link)
  2. Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets 2013". Bankelele.Co.Ke. Retrieved 5 August 2014.CS1 maint: numeric names: authors list (link)
  3. PUB, . "The History of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.CS1 maint: numeric names: authors list (link)
  4. CBK, . "Central Bank of Kenya: Mergers or Acquisitions Among Kenyan Commercial Banks - 1989 To 2010". Central Bank of Kenya (CBK). Archived from the original on 18 July 2014. Retrieved 5 August 2014.CS1 maint: numeric names: authors list (link)
  5. PUB, . "The Branches of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.CS1 maint: numeric names: authors list (link)
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