The Central Bank of Kenya (CBK) has granted authority to JP Morgan Chase Bank N.A of the United States of America (USA) in establishing a representative Office in Kenya by the name JP Morgan Chase Bank N.A Representative Office- Kenya.
The Authority is granted pursuant to section 43 of the Banking Act and follows the fulfilment, by JP Morgan Chase Bank N.A...,of the stipulated Authorisation requirements.
Under the Banking Act,Representative offices of the foreign banks in Kenya serve as marketing and liason Offices for their parent banks and affiliates and are not permitted under the law(act)to undertake banking Business.
The JP Morgan Chase Bank N.A Representative Office-Kenya will operate in line under this requirement herewith.The Communication from the Regulator stated.
JP Morgan Chase Bank N.A is a financial Conglomerate domiciled in United States of America (USA)
It operates in over 60 Countries Worldwide,offering services ranging from Asset and Wealth Management,Commercial Banking,Investment Banking and Financial Technology.
In establishing a presence in Kenyan market,JP Morgan Chase Bank N.A will explore Business opportunities in Kenya and wider East African Region.
The JP Morgan Chase Bank N.A Representative Office-Kenya will also contribute immensely to the diversity of Kenya’s financial sector and catalyse trade and investments.
Additionally, the authorisation of the representative office affirms Kenya’s standing as a premier financial services hub.
JP Morgan Chase Bank N.A is a leading global financial services firm with assets of $3.9 trillion and operations worldwide.
it serve millions of customers, clients and communities in over 100 global markets with more than 300,000 employees worldwide
With a legacy dating back to 1799, we have demonstrated leadership in times of economic growth and instability.
J.P. Morgan is a leader in investment banking, commercial banking, financial transaction processing and asset management. We serve millions of customers, predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Through continued investments, business initiatives and philanthropic commitments, we aim to help our employees, customers, clients and communities grow and thrive