M Oriental Bank


M Oriental Bank, previously known as Oriental Commercial Bank Limited, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Overview

, the bank's total assets were valued at KSh10.577 billion, with KSh3.028 billion, in shareholders' funds. In June 2016, the bank announced a change in business strategy. MOB will cease to operate as a retail bank and instead become a private bank, with focus on serving family-owned businesses and high net-worth individuals. The use of ATMs would also be phased out.

Ownership

In 2016, Oriental Commercial Bank was officially re-branded to M Oriental Bank Limited, after the Central Bank of Kenya gave approval to M Holdings Limited to acquire majority shares. M Holdings Limited, a Kenyan owned and registered company subsequently opted to acquire only 33.8 percent. As of 31 December 2017, the shareholding in the stock of the bank was as illustrated in the table below.
RankName of OwnerPercentage Ownership
1M Holdings Limited
33.83
2Pasha Investments Limited
7.68
3Nalinkumar Meghji Shah
6.51
4Sag Investment Limited
4.32
5Rupen Mulchand Haria
4.11
6Bank One Limited
3.68
7Others with 4.0 percent or less each
39.87
Total100.00

Branch network

The bank maintains a network of branches at the following locations:
  1. Westlands Branch – Apollo Centre, 2nd Floor, Ring Road, Westlands, Nairobi
  2. Koinange Street Branch – Finance House, Ground Floor, Koinange Street, Nairobi
  3. Sameer Business Park – Sameer Business Park, Mombasa Road, Nairobi
  4. Mombasa Branch – HassanAli Building, Nkurumah Road, Mombasa
  5. Nakuru Branch – AFC Building, Kijabe Row, Nakuru
  6. Eldoret Branch – Muya House, Kenyatta Street, Eldoret
  7. Kitale Branch – Robert Ouko Road, Kitale.

    Governance

The bank is governed by a six-person board of directors. Shanti Shah, one of the non-executive directors, serves as the chairman. The CEO is Alakh Kohli.