(Last Updated On: April 18, 2015)
When you want to know the size of a bank, most usually use the assets of the bank (retained cash, loans, physical assets etc). Kenya has any banks but just a few stand out as the biggest. They may be relatively small as compared to others in Africa such as Standard Bank Group, Stanbic Bank, Absa Group, First Rand, Ned Bank, First Bank, Ecobank etc. Kenya’s biggest bank is ranked 51 in Africa.
Here is a list of the biggest banks in Kenya
This is currently the biggest bank in Kenya in terms of assets of over $4.4 billion. In customer numbers it has over 4 million customers and lots of corporate accounts for big companies in Kenya. They make up majority of the assets. It is also Kenya’s oldest bank and over 180 branches all over Kenya. KCB has spread its wings into 5 other African countries.
2. Equity Group Holdings
This is Kenya’s biggest bank in terms of customer numbers. So far it has over 10 million customers and it was the first bank to have agency banking. There are 166 branches in Kenya currently and it is still growing. This is actually one of the best banks for SMEs (Small Market Enterprises). They take up the biggest portfolio in terms of loan portfolio.
3. Co-operative Bank Of Kenya
This is the 3rd biggest bank in Kenya with around $2.6 billion in assets. The bank has over 130 branches all over the country. Customer numbers are over 4 million. In the last ranking it was position 78 in Africa.
4. Standard Chartered Bank of Kenya
This is the biggest bank mainly focused on corporate lending and high net worth individuals. Most big business have bank accounts here. It is also one of the very old banks in Kenya. It is a subsidiary of UK based conglomerate.
5. Barclays Bank of Kenya
This is another big bank bank mainly focused or large corporate lending. It was once the second largest bank in Kenya in terms of assets. It is a popular bank among those who own large businesses and also those who earn big salaries.
6. CFC Stanbic
It is the best investment bank in Kenya and is a subsidiary of Standard Bank Group in South Africa. It operates the popular stock investment arm called SBG Securities. It also does wealth management and advising to large corporates.
7. Diamond Trust Bank Group
This is another bank focused on corporate lending with branches all over the country and subsidiaries in also Uganda and Tanzania. The biggest owners are the Aga Khan Fund for Economic Development. It has over 100 branches all over East Africa.