Tuesday, February 20, 2024
HomeBusinessBankingList of Tier 1...

List of Tier 1 Banks In Kenya 2024

List of Tier 1 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 1 Banks In Kenya

BankKey Drivers
​​1​​Kenya Commercial Bank (KCB)​-KCB Mpesa is a key growth driver in terms of deposits and loans​​Alternative channels; mobile banking and agency banking.Market Share: 14.20%
​​2 ​​Equity Bank-The digitization strategy of the Bank, with the rollout of the Eazzy Banking App and Equitel-the 2nd largest mobile money transfer service​.Market Share: 12.67%
​​3​​NCBA Bank​-The merger between NIC Bank and Commercial Bank Of Africa.Market Share: 10.01 %
​​4​​Cooperative Bank​-It has a large Sacco banking base, and the opportunity to grow upon the model.Market Share: 9.24%
​​5.​​​​Absa Bank​​-Cheaper funding from its parent company and has not had borrowings historically.Market Share: 6.69%
​​6​​Standard Chartered Bank​​-Strong in the corporate banking businessMarket Share: 5.81 % 
7Stanbic Bank Kenya-Corporate and Investment banking is a key driver for revenue as it contributes to a majority of the bank’s total income.Market Share: 5.74%
8Diamond Trust Bank Kenya Limited​​-Strong backing from financing partners, i.e. Aga Khan Fund for Economic Development and Habib bank​​-Best asset quality in the sector, with a gross NPL ratio of 4.6% compared to an industry average of 11.5%Market Share: 5.63%
9I&M Holdings-Geographical diversificationMarket Share: 5.15%

- A word from our sponsors -

Most Popular

More from Author

KUPPET Questions Government Directive For Parents To Pay Schools Fees E-Citizen Platform

KUPPET opposes the Government directive for parents to use eCitizen platform to pay...

List of The best AC Repair Companies in Nairobi, Kenya

List of The best AC Repair Companies in Nairobi, Kenya. Air...



- A word from our sponsors -


The NRM government is very proud to see the example of our young people begin to build Uganda by putting up projects such as this one. We congratulate Ham Kiggundu for this excellent jobKAMPALA UGANDA| As sports lovers countdown to 2027 when the Nakivubo-based Hamz Stadium will...

Raila’s search for a post with the AU Commission could be a suitable trapdoor or departure.

In Kenyan politics, Raila Odinga has long been a mystery. His international performance? Even when the African Union designated him, he remained debatable.But he said on Thursday that he would run for the position of Chairperson of the African Union Commission. One diplomat tampered with his first...

Court Finds Jowie Irungu Guilty of Monica Kimani’s Murder

In a landmark ruling, Justice Grace Nzioka declared Jowie Irungu guilty of the murder of Monica Kimani. According to Justice Nzioka, the evidence presented convincingly establishes Jowie's culpability in the crime beyond a reasonable doubt.Highlighting the sequence of events, Justice Nzioka outlined how Jowie, armed with a...

KUPPET Questions Government Directive For Parents To Pay Schools Fees E-Citizen Platform

KUPPET opposes the Government directive for parents to use eCitizen platform to pay school fees calls for clear public participation, legislation and policy framework.KUPPET national officials have opposed the move by Government to force parents to use eCitizen platform to pay school fees saying it will be difficult for...

List of best Audiology Services in Nairobi, Kenya

List of best Audiology Services in Nairobi, Kenya. The word audiology is made up of two roots: Audio and Logy. ‘Audio’ refers to ‘hear’ and ‘logy’ to ‘the study of’. In essence, audiology is the study of hearing - as the inner ear is also required...

List of The best Advertising Agencies in Zambia

List of The best Advertising Agencies in Zambia. Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a...