Middle East Bank Kenya Ltd was incorporated in Kenya on 22nd October 1980 and established business on 10th August 1981 with branches in both Nairobi, the capital city of Kenya and Mombasa, the second largest city in Kenya. The Bank was established in Kenya as part of the Al-Futtaim Group, a leading business group from United Arab Emirates and which was owned by Middle East Bank Group, UAE.
In 1991, the Al – Futtaim Group decided to sell shares in Middle East Bank Kenya Ltd and on 19th April 1991, ownership of the Bank passed from foreign investors (Al-Futtaim Group) to local investors, thus Kenyanising the ownership.
In 1994, Banque Belgolaise SA, Brussels, Belgium, a subsidiary of Generale de Banque SA of Belgium (whose 1993 assets were over US$100 billion, the largest in Belgium) indicated an interest in acquiring shares in Middle East Bank Kenya Ltd.
On 9th February, 1995, the Board of Directors of Middle East Bank Kenya Ltd approved issuance of 25% of Middle East Bank Kenya Ltd authorized share capital to Banque Belgolaise SA making it the single largest shareholder with the balance of 75% being held by local private shareholders.
On 12th November 1999, Fortis AG raised its stake in Banque Belgolaise by acquiring a stake from Compagnie Mobiliere et Fonciere du Bois Sauvage. On 30th December 2000, Fortis completed its tender offer to complete acquisition of the remaining shares in Banque Belgolaise SA. Banque Belgolaise SA was then taken over by Fortis Bank, Belgium which was the largest bank in the Benelux and one of the top 20 banks in Europe.
In May 2009, Fortis Bank, Belgium became a fully owned subsidiary of BNP Paribas, one of the leading Banks globally.