Sunday, May 11, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

39 richest banks in Kenya by asset base – CBK report

Simon Osuji by Simon Osuji
September 16, 2024
in Business
0
39 richest banks in Kenya by asset base – CBK report
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

According to Central Bank of Kenya, banks control over Sh17 trillion assets and hold over Sh5.9 trillion in customer deposits.

The Kenyan banking sector experienced robust growth in 2023, with commercial banks’ total assets soaring by 16.7% to reach Sh7.7 trillion as of December 31, 2023, up from Sh6.6 trillion the previous year.

According to the Central Bank of Kenya’s Bank Supervision Annual Report 2023, the sector’s performance reflects resilience amid a challenging business environment.

Customer deposits also surged by 18%, rising from Sh5.0 trillion in December 2022 to Sh5.9 trillion in December 2023.

Related posts

Top 10 African countries leading electric vehicle adoption

Top 10 African countries leading electric vehicle adoption

May 10, 2025
Top 10 African countries with the most asylum applications in Sweden

Top 10 African countries with the most asylum applications in Sweden

May 10, 2025

Top 5 richest banks in Kenya

Data from the Central Bank of Kenya’s Bank Supervision Annual Report 2023 shows that KCB holds the largest market share of 17.4%, and asset base of Sh1.43 trillion, positioning it as the wealthiest bank in Kenya as of 2023.

In 2024, KCB reported that the asset base had hit Sh2 trillion.

Customers are served at the Kenya Commercial Bank (KCB) in Nairobi on January 24, 2018. (Photo by SIMON MAINA/AFP via Getty Images)

2.Equity Bank (Kenya) Ltd

Equity Bank ranks second with a market share of 12.2%, reporting total assets valued at Sh1.00 trillion.

With a 9.2% market share, NCBA Bank’s total assets amounted to Sh661.74 billion, making it one of the largest financial institutions in Kenya.

John Gachora, NCBA Group Managing Director & CEO

4.Co-operative Bank of Kenya Ltd

Co-operative Bank holds an 8.8% market share, with total assets valued at Sh624.25 billion.

Rounding out the top five, Absa Bank commands a 6.6% market share, with total assets of Sh520.30 billion.

39 richest banks in Kenya by asset base

Below is a comprehensive list of all 39 banks in Kenya, market share and assets

Rank Large banks Market Share (%) Total Assets (Sh)

1

KCB Bank Kenya Limited

17.4

1.43 trillion

2

Equity Bank (Kenya) Ltd

12.2

1.00 trillion

3

NCBA Bank Kenya PLC

9

661.74 billion

4

Co-operative Bank of Kenya Ltd

8.8

624.25 billion

5

Absa Bank Kenya PLC

6.6

520.30 billion

6

Standard Chartered Bank (K) Ltd

5.9

429.28 billion

7

Stanbic Bank Kenya Ltd

5.8

449.61 billion

8

I&M Bank Limited

5.4

405.61 billion

9

Diamond Trust Bank Kenya Limited

5.3

399.62 billion

Medium Banks

10

Bank of Baroda (Kenya) Limited

2.8

201.94 billion

11

Prime Bank Ltd

2.7

166.06 billion

12

Citibank N.A. Kenya

2.3

151.77 billion

13

Family Bank Ltd.

1.8

142.32 billion

14

Bank of India

1.8

103.08 billion

15

National Bank of Kenya Ltd

1.7

161.11 billion

16

SBM Bank (Kenya) Ltd

1.1

94.92 billion

17

Ecobank Kenya Ltd

1

103.94 billion

Small Banks

18

HFC Ltd

0.8

59.15 billion

19

Victoria Commercial Bank Plc

0.7

59.20 billion

20

Bank of Africa Ltd

0.6

51.72 billion

21

Gulf African Bank Limited

0.5

42.13 billion

22

Guaranty Trust Bank (Kenya) Limited

0.4

30.11 billion

23

African Banking Corporation Ltd

0.5

41.78 billion

24

Sidian Bank Ltd

0.6

44.74 billion

25

Habib Bank AG Zurich

0.4

36.13 billion

26

DIB Bank Kenya Ltd

0.4

26.49 billion

27

UBA Kenya Bank Ltd

0.4

31.21 billion

28

Premier Bank Kenya Ltd

0.3

23.31 billion

29

Credit Bank PLC

0.3

25.72 billion

30

Commercial International Bank (CIB) Kenya Limited

0.3

17.54 billion

31

Kingdom Bank Kenya Limited

0.3

36.72 billion

32

Development Bank of Kenya Ltd

0.3

18.84 billion

33

Guardian Bank Limited

0.3

15.85 billion

34

M-Oriental Bank Kenya Ltd

0.2

13.86 billion

35

Middle East Bank (K) Ltd

0.2

18.85 billion

36

Paramount Bank Ltd

0.2

15.44 billion

37

Access Bank (Kenya) PLC

0.2

17.16 billion

38

Consolidated Bank of Kenya Limited

0.2

15.21 billion

39

Spire Bank Limited

–

2.88 billion

Banking Sector Performance

The impressive growth in customer deposits from Sh5 trillion in December 2022 to Sh5.9 trillion was primarily driven by increased usage of mobile banking platforms and agency banking initiatives, highlighting the sector’s adaptability to technological advancements.

Despite these gains, the banking sector’s profit before tax fell by 8.8%, from Sh240.4 billion in 2022 to Sh219.3 billion in 2023.

The decline was attributed to a sharper increase in total operating expenses compared to the rise in total income.

Total expenses rose by Sh175.3 billion, while income increased by Sh154.1 billion during the period.

Rising Operating Expenses Impact Profitability

The Central Bank of Kenya’s report identified several factors contributing to the rise in operating expenses, which included a 41.3% increase in interest expenses, a 22.8% rise in other operating expenses, and a 19.8% growth in salaries and wages.

Additionally, bad debt charges climbed by 16.1%, further straining the sector’s profitability.

The report also revealed that the banking sector’s capital and reserves increased by 6.9%, from Sh917.6 billion in December 2022 to Sh980.9 billion in December 2023.

This growth was largely driven by a rise in retained earnings, which jumped by Sh81.2 billion, and share premiums.

Governor of the Central Bank of Kenya (CBK) Dr. Kamau Thugge has been honoured with the prestigious title of Central Bank Governor of the Year by the African Banker Magazine.

Dividend Payouts See Moderate Growth

Despite the overall decline in profitability, banks showed confidence in their future performance, with proposed dividends increasing by Sh3.4 billion to Sh50.8 billion in 2023.

The report noted that the increase in proposed dividends had minimal impact on the sector’s capital and reserves due to the larger margin in retained earnings and share premium, which collectively grew by Sh94.9 billion.

Source link

Previous Post

TRON DAO Featured as Title Sponsor at KBW, Showcases Growing Meme Coin Ecosystem

Next Post

The Best Clitoral Suction Toys (2024), Tested and Reviewed

Next Post
The Best Clitoral Suction Toys (2024), Tested and Reviewed

The Best Clitoral Suction Toys (2024), Tested and Reviewed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Ethereum Breaches $3,500; Can ETH Hit $4,000 Next?

Ethereum Breaches $3,500; Can ETH Hit $4,000 Next?

1 year ago
OpenAI worries its AI voice may charm users

OpenAI worries its AI voice may charm users

9 months ago
Fire Guts Aba Spare Parts Market As Abia Govt Caution Traders

Fire Guts Aba Spare Parts Market As Abia Govt Caution Traders

1 year ago
Trawling for fraud in the scientific literature

Trawling for fraud in the scientific literature

3 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.