Consolidated Bank may be privately owned by the end of next year. Ministry of Finance Permanent Secretary, Joseph Kinyua told the media that the Privatisation Commission is currently working on listing the bank on the NSE by the year 2013. According to Ventures Africa, the government currently holds 50.2% of the stake. The National Social Security Fund (NSSF) holds 11.2% of the same.

The company’s 2011 annual report states that profit before tax for the year ended December 31^st was Ksh0.24 billion. This was a decline from Ksh0.25 billion the previous year. It recently made plans to issue a Ksh4 billion, medium term corporate bond with a fixed interest rate of 13.25%. The company’s performance charts reveal that deposits worth more than Ksh12 billion were made in 2011. The same charts show an increase in assets from Ksh10.2 billion in 2012 to Ksh15.3 billion in 2011.

The PS recently stated that the government is looking at an initial public offering. He also noted that the government was also willing to sell to private investors. According to Samora Kariuki, a research analyst at NIC Securities, ‘private companies are generally better run than public companies.’ Mr Kariuki asserts that the proposed move is likely to attract new investors.  The shift may also include lead to new management within the company.  The process is currently pending approval from the Privatisation Commission.