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The formation of Development Bank of Kenya in 1963 was through the initiative of three Governments namely, the Kenya Government through the Industrial and Commercial Development Corporation (ICDC), the British Government through Commonwealth Development Corporation (CDC) and the German government through DEG. The Dutch Government through FMO became the fourth investment partner in 1967 while International Financial Corporation (IFC) became the fifth shareholder in 1981.

Consequently after forty five years the bank ownership changed to one that is Kenyan owned and directed as follows;
Industrial & Commercial Development Corporation (ICDC) 89.3%
Transcentury Ltd 10.7%
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