In terms of assets, Kenya Commercial Bank (KCB) was the biggest bank operating in Kenya as of 2023. The institution registered an asset value of approximately 12.6 billion U.S. dollars. Equity Bank Group followed, with assets worth almost 12 billion U.S. dollars. Both institutions also led among banks with the largest level of tier 1 capital in the country.
Kenya’s banking landscape
In 2022, Kenya's largest bank was KCB Bank Kenya with a market share of 14 percent. This was followed by Equity Bank which had a share of over 12 percent. Similarly, when considering Kenya’s largest banks in terms of value of deposits the same banks were at the top of the list. Furthermore, the rate of bank account penetration was particularly high in Kenya compared to other African countries, with a penetration rate of 86 percent.
African banking revenue soars
The estimated African banking revenue in 2022 was 129 billion U.S. dollars. This was considerably higher than the previous year. The countries with the largest banking industries in Africa in the form of capital were South Africa and Egypt ,respectively. Kenya ranked fifth on the list, however, its industry was far smaller than the above-mentioned countries.
FAQs
In terms of assets, Kenya Commercial Bank (KCB) was the biggest bank operating in Kenya as of 2023. The institution registered an asset value of approximately 12.6 billion U.S. dollars. Equity Bank Group followed, with assets worth almost 12 billion U.S. dollars.
What is the most profitable bank in Kenya 2023? ›
Equity Bank of Kenya again tops the table with the group holding Tier 1 capital of $1.5bn, assets of $11.7bn and profits of $364m. Second is the KCB group. Both banks are consolidated at group level, where their results include assets outside their principal country.
What is the strongest bank in Kenya? ›
As of 2023, Equity Bank Group was the leading bank in Kenya in terms of of tier 1 capital, which reached approximately 1.44 billion U.S. dollars. Kenya Commercial Bank (KCB) followed with the second-largest volume of tier 1 capital, at around 1.41 billion U.S. dollars.
Which are Tier 1 banks in Kenya? ›
However, the banking sector is essentially dominated by seven tier 1 commercial banks, namely Equity Bank, Kenya Commercial Bank, Barclays Bank of Kenya, Diamond Trust Bank, Cooperative Bank, Central Bank of Africa and Standard Chartered.
Which bank has the most assets? ›
Headquartered on Park Avenue in New York City, Chase holds the most assets of all banking institutions. It offers numerous checking and savings accounts, investment accounts, business accounts and various types of credit cards.
What is the richest bank in Kenya? ›
In terms of assets, Kenya Commercial Bank (KCB) was the biggest bank operating in Kenya as of 2023. The institution registered an asset value of approximately 12.6 billion U.S. dollars. Equity Bank Group followed, with assets worth almost 12 billion U.S. dollars.
Which is the largest bank by assets in Kenya? ›
These banks recorded the performance amid rising interest rates, high inflation and exchange rate devaluations. But, Kenya Commercial Bank (KCB) Plc, Kenya's largest bank by assets, drew particular attention for its H1 '2023 performance.
Which is the safest bank in Kenya? ›
KCB Ranked 667 Globally, Top Bank in East Africa and Safest Bank in Kenya. Lender Climbs up 40 places in The Banker's Top 1000 World Banks ranking for 2020 as Global Finance Annual World's Safest Banks Rankings put it among top14 African safest banks.
What is the fastest growing bank in Kenya? ›
Stanbic Holdings was the fastest growing bank with a forty seven percent growth in profits after taxes to Ksh 7.1 billion.
Which is the best performing bank in Kenya? ›
| Cytonn Report: Listed Banks Performance in Q1'2023 |
|---|
| Bank | Core EPS Growth | Net Interest Income Growth |
|---|
| Stanbic Bank | 84.3% | 44.7% |
| Absa Bank | 50.7% | 36.0% |
| NCBA Group | 48.5% | 18.0% |
4 more rowsJun 18, 2023
a) Foreign owned institutions
Habib Bank Ltd. Bank of Baroda (K) Ltd. Barclays Bank of Kenya Ltd. Diamond Trust Bank Kenya Ltd.
Which are private banks in Kenya? ›
Rankings overview for Departments
- Stanbic Bank.
- Standard Chartered Bank Kenya Limited.
Kenya - U.S. Banks and Local Correspondent BanksKenya - US Banks
- Bank of Africa.
- Bank of Baroda.
- Bank of India.
- Barclays Bank of Kenya.
- Citibank.
- Commercial Bank of Africa (CBA)
- Guaranty Trust (GT) Bank (formerly Fina Bank)
- Habib Bank A.G. Zurich.
The Most Popular Banks for Millionaires
- JP Morgan Private Bank. “J.P. Morgan Private Bank is known for its investment services, which makes them a great option for those with millionaire status,” Kullberg said. ...
- Bank of America Private Bank. ...
- Citi Private Bank. ...
- Chase Private Client.
The Bankrate promise
| RANK | BANK NAME | TOTAL ASSETS |
|---|
| 1 | JPMorgan Chase | $3.40 trillion |
| 2 | Bank of America | $2.54 trillion |
| 3 | Wells Fargo | $1.73 trillion |
| 4 | Citigroup | $1.68 trillion |
11 more rowsApr 2, 2024
Top banks in the world in 2024
| Rank & Bank | Headquarters | Market Cap |
|---|
| #1 JPMorgan Chase | New York, USA | $554.93 B |
| #2 Bank of America | North Carolina, USA | $284.14 B |
| #3 Industrial and Commercial Bank of China Limited | Beijing, China | $237.97 B |
| #4 Wells Fargo | California, USA | $206.66 B |
7 more rowsMar 19, 2024
Equity Bank has been feted as the Best Bank in Kenya in the 2023 Think Business Banking Awards for the 12th consecutive year.
Which banks are growing the fastest in Kenya? ›
Stanbic Holdings was the fastest growing bank with a forty seven percent growth in profits after taxes to Ksh 7.1 billion.
Which bank is best for investment in Kenya? ›
| Cytonn Report: Listed Banks FY'2022 Rankings |
|---|
| Bank | Franchise Value Rank | FY'2022 |
|---|
| ABSA | 1 | 1 |
| Equity Group Holdings Ltd | 4 | 2 |
| KCB Group Plc | 7 | 3 |
7 more rowsApr 24, 2023
