 In July 2016, the bank was rebranded to Spire Bank.Prior to December 2014, , Naushad Merali of Sameer Group owned 85% of the bank's stock, with other entities owning the remaining 15%.In order to comply with Central Bank of Kenya directives, the bank began exploring ways to sell shares to outside investors and reduce the shareholding of the largest individual shareholder to 25% or less.