View source for Fina Bank Group

{{Infobox Company 
| company_name   = Fina Bank Group
| company_logo   = 
| company_type   = [[Private company|Private]]
| foundation     = {{start date |1986}}
| defunct        = {{end date |2013}}
| successor      = [[Guaranty Trust Bank]]
| location       = [[Nairobi]], [[Kenya]]
| key_people     = Dhanu Hansraj Chandaria ([[Chairman|Group Chairman]]), Tim Marshall ([[Chief Operating Officer| Chief Group Operating Officer]]) 
| industry       = [[Banking]]
| products       = [[Banking]], [[Mortgages]] [[Investments]] 
| homepage       = {{URL |http://www.finabank.com }}
}}

'''Fina Bank Group''', was a financial services organization in [[East Africa]] located in [[Nairobi]], Kenya, with subsidiaries in [[Kenya]], [[Rwanda]] and [[Uganda]].  It was acquired by [[Guaranty Trust Bank]] in 2013 and renamed soon after.

Before its takeover, Fina Bank Group was a medium-sized financial services provider in [[East Africa]], focusing on meeting the banking needs of SME businesses. 

{{asof|September 2010}}, the total group assets were estimated at US$241 million, with shareholders' equity valued at approximately US$23.8 million. At that time, the Group operated 25 bank branches in the region (13 in [[Kenya]], 6 in [[Rwanda]] and 6 in [[Uganda]]).<ref>[http://www.finabank.com/pdf/q_sept_2010.pdf  Fina Bank Group Financials September 2010]</ref> In July 2013, the Group's total assets were valued at US$338, with shareholders' equity in excess of US$140 million.<ref>[http://www.businessdailyafrica.com/Corporate-News/Nigerian-lender-to-buy-70-pc-stake-in-Kenya-Fina-bank/-/539550/1918982/-/15mj5k0z/-/index.html Estimated Group Financials As of July 2013]</ref> At that time, the Group operated 38 bank branches across [[East Africa]]; 17 in [[Rwanda]], 14 in [[Kenya]] and 7 in [[Uganda]].<ref>[http://www.finabank.com/?page_id=2 The Fina Bank Group Milestones]</ref>

==History==
The institution began operations as a non-banking financial company, in 1986. In 1991 it was acquired by private investors, who converted it into a [[commercial bank]], in 1995, following the acquisition of a banking license from the [[Central Bank of Kenya]], the country's banking regulator. The bank opened its doors as a fully fledged commercial bank in 1996.

In 2004, Fina Bank acquired '''BACAR''', a privately owned bank, that had been seized due to managerial reasons, by the [[National Bank of Rwanda]], Rwanda's banking regulator. In 2005, the bank changed its business strategy and re-launched Fina Bank as a banking institution that focuses on serving [[small and medium-sized enterprises]] (SMEs). Between 2005 and 2008, the bank re-organized its operations in Rwanda and continued branch expansion in Kenya.

In 2008, Fina Bank re-organized its operations in Rwanda and opened up business in [[Uganda]] with two brand new Branches.<ref>[http://www.finabank.com/about_us-home.html The History of Fina Bank Group]</ref>

In July 2013, the Nigerian lender [[Guaranty Trust Bank]], acquired 70% shareholding in Fina Bank Group for a cash infusion of US$100 million.<ref>[http://www.businessdailyafrica.com/Corporate-News/Nigerian-lender-to-buy-70-pc-stake-in-Kenya-Fina-bank/-/539550/1918982/-/15mj5k0z/-/index.html Guaranty Trust Bank of Nigeria Acquires 70% Stake In Kenya's Fina Bank Group]</ref> In January 2014, the member companies of Fina Bank Group rebranded as subsidiaries of Guaranty Trust Bank.<ref>[http://allafrica.com/stories/201312270231.html   GT Bank Concludes Acquisition of Fina Bank Group]</ref>

==See also==
{{Portal|Banks}}
* [[Guaranty Trust Bank (Kenya)]]
* [[Guaranty Trust Bank (Rwanda)]]
* [[Guaranty Trust Bank (Uganda)]]
* [[Economy of Kenya]]

==References==
{{reflist}}

{{Banking in Kenya|state=expanded}}
[[Category:Banks of Kenya]]
[[Category:2013 mergers and acquisitions]]