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List Of Tier 3 Banks In Kenya

List Of Tier 3 Banks In Kenya. The Central Bank of Kenya (CBK) is the primary regulator of the banking industry. The primary classification of banks in Kenya is by ownership. Some banks belong to local individuals or companies while others belong to foreign individuals or organizations. Another general classification of banks is by nature, that is, microfinance banks and commercial banks. The CBK which governs banks further classifies commercial banks based on their assets. Tier 1 banks are large banks that have hundreds of billions in assets and are not likely to collapse financially. They are the top banks in Kenya. Tier 2 banks are medium-sized banks while Tier 3 consists of small banks.

Currently there are 28 domestic and 14 foreign commercial banks with branches, agencies, and other outlets throughout the country; one mortgage finance company; eight representative offices of foreign banks; eleven licensed deposit taking microfinance institutions; 49 insurance companies; the Post Office Savings Bank with a large network of branches around the country; 79 foreign exchange (forex) bureaus; three licensed credit reference bureaus, 18 money remittance providers and 174 deposit-taking licensed savings and credit cooperative organizations (SACCOs) with a membership of about 4.73 million persons (www.sasra.go.ke). However, the banking sector is essentially dominated by seven Tier 1 commercial banks, namely Equity Bank, Kenya Commercial Bank, ABSA Bank Kenya (formerly Barclays), Diamond Trust Bank, Cooperative Bank, NCBA Bank and Standard Chartered. In addition, smaller banks have emerged and experienced tremendous growth in recent years.

Several Kenyan banks, including Kenya Commercial Bank, NCBA Bank and Equity Bank, have subsidiaries operating in the East Africa Community and South Sudan. Increasing access to finance has been abridged with the use of innovation such as agent banking, which allows commercial banks and Deposit-Taking Microfinance (DTM) institutions to engage the services of third-party outlets to deliver specified financial services on their behalf.

List Of Tier 3 Banks In Kenya

BankMarket Share
1.HFC Limited0.8%
2.Victoria Commercial Bank Plc0.8%
3.Habib Bank A.G Zurich0.7%
4.Guaranty Trust Bank Limited0.7%
5.Gulf African Bank Limited0.6%
6.Bank of Africa Ltd0.6%
7.Sidian Bank Ltd0.4%
8.Credit Bank Plc0.4%
9.First Community Bank Ltd0.3%
10.Guardian Bank Limited0.3%
11.African Banking Corporation Ltd0.3%
12.Development Bank of Kenya Ltd0.3%
13.Mayfair CIB Bank Limited0.3%
14.Middle East Bank (K) Ltd0.3%
15.Kingdom Bank Limited0.3%
16.DIB Bank Kenya Ltd0.3%
17.Consolidated Bank of Kenya Limited0.3%
18.Paramount Bank Ltd0.2%
19.UBA Kenya Bank Ltd0.2%
20.M-Oriental Bank Ltd0.2%
21.Access Bank (Kenya) PLC0.2%
22.Spire Bank Limited0.0%

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