Several non-bank financial institutions (NBFIs) have transformed to commercial banks over the years. They do this by ensuring that they meet the minimum prudential requirements for commercial banks including capital adequacy, liquidity and assets requirements. This transformation is known as conversion. The schedule below details the conversions which have taken place since 1994:


No. Financial institution (old name)Commercial Bank (new name)Date approved
1 Universal Finance Ltd. Universal Bank Ltd. 03.11.1994
2 Akiba Loans & Finance Ltd. Akiba Bank Ltd. 14.11.1994
3 Diamond Trust Company Ltd Diamond Trust Bank Ltd 15.11.1994
4 Credit Kenya Finance Ltd Credit Bank Ltd 30.11.1994
5 Consolidated Finance Ltd African Banking Corp. Ltd 08.12.1994
6 Imperial Finance Co. Ltd Imperial Bank Ltd 08.12.1994
7 Lake Credit Finance Ltd. Reliance Bank Ltd. 13.01.1995
8 Habib Kenya Finance Ltd. Habib African Bank Ltd. 26.01.1995
9 Finance Institution of Africa Ltd FINA Bank Ltd 13.01.1995
10 Air Credit Finance Ltd. Ari Bank Corporation Ltd. 07.03.1995
11 City Finance Ltd City Finance Bank Ltd 23.03.1995
12 Credit Finance Corporation Ltd CFC Bank Ltd 29.03.1995
13 Equatorial Finance Co. Ltd Equatorial Commercial Bank Ltd 23.06.1995
14 Southern Credit Finance Ltd Southern Credit Banking Corp. Ltd 26.09.1995
15 First National Finance Ltd. First National Finance Bank Ltd. 19.04.1995
16 Prudential Finance Ltd. Prudential Bank Ltd. 12.05.1995
17 Combined Finance Ltd. Paramount Bank Ltd. 05.07.1995
18 National Industrial Credit Ltd National Industrial Credit Bank Ltd 28.09.1995
19 Euro Finance Ltd. Euro Bank Ltd. 20.12.1995
20 Victoria Finance Company Ltd Victoria Commercial Bank Ltd 11.01.1996
21 Co-operative Finance Ltd. Co-operative Merchant Bank Ltd. 27.03.1996
22 Investments & Mortgages Ltd Investment & Mortgages Bank Ltd 27.03.1996
23 Credit & Commerce Finance Ltd. Commerce Bank Ltd. 15.04.1996
24 Development Finance Co. Ltd Development Bank of Kenya Ltd 20.09.1996
25 Charterhouse Finance Ltd Charterhouse Bank Ltd 01.01.1998
26 Fidelity Finance Ltd Fidelity Commercial Bank Ltd 07.03.1999
27 K-Rep Ltd K-Rep Bank Ltd 24.03.1999
28 Equity Building Society Equity Bank Ltd 28.12.2004
29 Akiba Bank Ltd EABS Bank Ltd 31.10.2005
30 Family Finance Building Society Family Bank Ltd 01.05.2007

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