Oriental Commercial Bank
| Private | |
| Industry | Financial Services |
| Founded | 2002 |
| Headquarters | Nairobi, Kenya |
|
Key people
|
Shanti V. Shah, Chairman Rakesh Kashyap, Managing Director & CEO |
| Products | Checking, Savings, Investments, Debit Cards |
| Revenue |
 Aftertax: US$429,000 (KES:42.9 million) (2015) |
| Total assets | US$84.9 million (KES:8.5 billion) (2015) |
| Website | Homepage |
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.
As of December 2015[update], the bank's total assets were valued at about US$84.9 million (KES:8.5 billion), with shareholders' equity of about US$22.4 million (KES:2.24 billion). 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.
In May 2015, a group of Tanzanian investors, who are also shareholders in Bank M, received Kenyan regulatory approval to purchase 51 percent shareholding in OCB. This marks the first time that Tanzanians have become the majority shareholders in a Kenyan financial institution. The acquisition will further lead to OCB changing its name to M Oriental Bank (MOB) After the transaction was consummated, Bank M Holdings and related parties own 51 percent in the company. As at September 2016, the shareholding in the company is as depicted in the table below:
The bank maintains a network of branches at the following locations:
The bank is governed by a six-person board of directors. Shanti Shah, one of the non-executive directors, serves as the Chairman. The Managing Director and CEO is Rakesh Kashyap.
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