Paramount Universal Bank

Paramount Universal Bank Limited
Private
Industry Financial Services
Founded 1993
Headquarters Nairobi, Kenya
Products Checking, Savings, Investments, Debit Cards
Website Homepage

Paramount Universal Bank Limited (PUBL),commonly referred to as 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]

Overview

Paramount Universal Bank is a small retail bank in Kenya, East Africa's largest economy. In 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, based in the United States of America.

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.
  2. ↑ Bankelele, . (28 April 2014). "Kenya Bank Rankings By Assets 2013". Bankelele.Co.Ke. Retrieved 5 August 2014.
  3. ↑ PUB, . "The History of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.
  4. ↑ CBK, . "Central Bank of Kenya: Mergers or Acquisitions Among Kenyan Commercial Banks - 1989 To 2010". Central Bank of Kenya (CBK). Retrieved 5 August 2014.
  5. ↑ PUB, . "The Branches of Paramount Universal Bank". Paramount Universal Bank (PUB). Retrieved 5 August 2014.
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