Paramount Bank is a small retail bank in Kenya. As of December 2013[update], 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
As of August 2014[update], 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]
