Mayfair Bank Limited has been granted a license to conduct business in Kenya by the Central Bank of Kenya (CBK).
Mayfair is the second bank to be licensed after the CBK lifted the moratorium on licensing of new commercial banks in Kenya by licensing Dubai Islamic Bank in April 2017.
The licensing of new banks in Kenya was frozen in November 2015 after three privately-owned banks were placed under receivership in under one year.
Mayfair Bank Limited is an establishment of a group of local investors, among them Nairobi Gubernatorial Candidate and former Presidential Candidate Peter Kenneth, and is headquartered in the capital Nairobi.
Its entry will broaden banking choices for the Kenyan public while enhancing the competitiveness of the industry’s environment.
Having fulfilled the stipulated licensing requirements, Mayfair Bank Limited launches its presence in Kenya with three branches, two in Nairobi and one in the Port City of Mombasa.