National Bank of Kenya Ltd is registered by the Capital Markets Authority (CMA) as an Authorized Depository Agent and by the Retirement Benefits Authority (RBA) as a custodian.
Custodial Services is the safeguarding of a firm’s financial assets and overseeing the change of status of those assets (e.g. Cash and Shares)
At National Bank Custody, we offer the following services:
- Hold in safe keeping assets/securities such as stocks and bonds.
- Administer corporate actions.
- We ensure smooth inflow/outflow of securities and such other instruments as and when necessary in the best interests of our clients.
- We collect information on income from assets under our custody (dividends, coupons).
- We provide cash management and foreign exchange services.
- We provide accurate and timely reports.
- Tax reclamation.
Benefits to the client
- High quality services by a highly experienced and skilled team.
- Entitlement to a current account with no minimum balance.
- Daily reconciliation of clients account.
- Negotiated exchange rates on foreign currency.
- Entitlement to a central depository account at no cost.
- Free statement upon request.
- A dedicated account manager for every account.
National Bank Corporate Trustee Services
At National Bank of Kenya Ltd, we offer Trustee Services. We exercise reasonable diligence and ensure that all schemes/funds under our trust comply with the trust deed and rules.
Our role as Trustee includes:
- Act in the best interest of our clients.
- We monitor compliance with the terms of the trust deed and rules.
- Report to the regulators, client and other service providers.
- We keep up with laws regarding trust administration and diligently applying these regulations to the trust administration.
Benefits to the client
- We have a long experience of acting as corporate trustees.
- We have a high skilled board of trustees.
- The scheme/fund will be managed in good faith, with prudence and impartiality.
- The financial well-being of current and future beneficiaries of the trust is taken care of.
- We ensure safety of clients’ assets under our trust.
- We assume responsibility for the filing of any necessary tax returns that are required.
- We have the ability to manage the trust with continuity for the long term
- We have qualified professionals who are well versed on trust law, tax implications and regulatory changes that can impact a trust.
- The assurance that the fund/scheme will be handled efficiently and in compliance with the regulators.