Paramount Universal Bank Explained

Paramount Bank
Type:	Private company
Location:	Nairobi, Kenya
Industry:	Financial services
Products:	Transaction accounts, Savings, Investments, Debit Cards

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 is a small retail bank in Kenya., 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

, 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

• List of banks in Kenya
• Central Bank of Kenya
• Economy of Kenya

External links

• Website of Paramount Universal Bank
• Website of Central Bank of Kenya

Notes and References

1. Web site: 5 August 2014. Directory of Commercial Banks And Mortgage Finance Companies. Central Bank of Kenya.
2. Web site: Kenya Bank Rankings By Assets 2013. 28 April 2014. 5 August 2014. Bankelele.Co.Ke.
3. Web site: The History of Paramount Universal Bank. Paramount Universal Bank (PUB). 5 August 2014.
4. Web site: Central Bank of Kenya: Mergers or Acquisitions Among Kenyan Commercial Banks - 1989 To 2010. Central Bank of Kenya. 5 August 2014. dead. https://web.archive.org/web/20140718125736/https://centralbank.go.ke/index.php/commercial-banks-mortgage-finance-institutions/mergers-or-acquisitions. 18 July 2014.
5. Web site: The Branches of Paramount Universal Bank. Paramount Universal Bank (PUB). 5 August 2014.