Top Banks in Kenya

Overview of Kenya's leading financial institutions

Overview of Banks in Kenya

Banks in Kenya are supervised by Banki Kuu ya Kenya or the Central Bank of Kenya (CBK). Based in Nairobi, CBK was formed in 1966, following the dissolution of the East African Currency Board. The central bank is in charge of establishing a monetary policy that aims to maintain the stability of prices. Other responsibilities include forming and implementing foreign exchange policies, promoting financial stability, and issuing currency.

Banks in Kenya

In May 2021, Moody’s Investors Service affirmed all ratings and assessments of the three rated Kenyan banks, namely: KCB Bank Kenya Limited (KCB Bank), Equity Bank (Kenya) Limited (Equity Bank), and Co-operative Bank of Kenya Limited (Co-op Bank).

The outlook on the Kenyan banks’ long-term deposit and issuer ratings remains negative. The rating action follows Moody’s decision to affirm Kenya’s B2 government rating, with a negative outlook on 13 May 2021.

For anyone who is considering a banking career in Kenya, this list of top banks in Kenya is a helpful guide on where to start. To learn more, see our list of financial institutions.

The Top Banks in Kenya Include:

Equity Group Holdings

Financial services provider Equity Group Holdings was founded in 1984. It offers a wide range of financial products and services, including loans, mortgages, investments, debit and credit cards, retail banking, and microfinance.

The bank operates through 335 branches and operates 720 ATMs. Based in Nairobi, it also operates subsidiaries in other countries, such as South Sudan, Rwanda, and Uganda.

Net income: KES 19.79 billion (2020)

Total assets: KES 1.02 trillion (2020)

Standard Chartered Bank Kenya

Standard Chartered Bank Kenya Limited, commonly known as Standard Chartered Kenya, is a commercial bank that offers banking products and services such as transaction accounts, loans, savings, debit cards, and investments.

Established in 1911, and therefore the oldest of the banks in Kenya, it is a subsidiary of Standard Chartered, the British multinational financial group. Headquartered in Nairobi, it oversees a network of 36 branches and 108 ATMs throughout the country.

Net income: KES 5.44 billion (2020)

Total assets: KES 325.61 billion (2020)

Barclays Bank Kenya

Barclays Bank Kenya started its operations in the country in 1916, making it also one of the oldest banks in Kenya. It is also one of the leading banks in terms of international and domestic resources, as well as in terms of financial strength.

The bank provides a range of products and services, including loans, savings, credit cards, mortgages, and investments to individuals and small and large business customers. Based in Nairobi, it operates as a subsidiary of UK-based Barclays Bank.

Net income: KES 19.79 billion (2020)

Total assets: KES 1.02 trillion (2020)

Kenya Commercial Bank – KCB Bank Kenya

Kenya Commercial Bank is a financial services provider that was established in 2015. With 168 branches, it owns the largest banking network of any of the banks in Kenya. The bank provides various banking products and services, such as credit cards, loans, savings, mortgages, and investments. Its headquarters is in Nairobi.

Cooperative Bank of Kenya

With more than 3.5 million accounts in 2013, the Cooperative Bank of Kenya oversees the second-largest customer base in the country. It provides an array of banking services, such as loans, savings, debit cards, checking, and investments.

The bank operates 155 branches in Kenya, four in South Sudan, and approximately 583 ATMs. It was established in 1965, with headquarters in Nairobi.

Net income: KES 10.81 billion (2020)

Total assets: KES 552.93 billion (3/2021)

Diamond Trust Bank of Kenya

Diamond Trust Bank Kenya Ltd (DTB) provides various banking products and services, including mortgages, investments, insurance, savings and deposit accounts, debit and credit cards, money transfer services, and asset finance.

DTB’s flagship company is the Diamond Trust Bank Group, a major financial institution in East Africa, with a strong presence in other countries such as Uganda and Tanzania. Based in Nairobi, the bank was founded in 1945.

Net income: KES 3.25 billion (2020)

Total assets: KES 425.05 billion (2020)

National Bank of Kenya

The government-owned National Bank of Kenya, or simply National Bank, is one of the largest banks in Kenya, providing a range of products, including savings, loans, checking, debit and credit cards, and investments, to individuals, SMEs, and large corporations. Established in 1968, the bank operates out of Nairobi.

Net income: KES 177.73 million (2020)

Total assets: KES 126.84 billion (2020)

Stanbic Bank

Stanbic Bank provides banking products and services that include commercial, retail, and private banking, asset management, credit cards, and mortgages. It is a division of Standard Bank, which is based in Johannesburg, South Africa.

In 1992, the trading name, Stanbic Bank, was adopted when Standard Bank Group acquired ANZ Grindlays Bank, to differentiate it from Standard Chartered Bank, the former parent bank of Standard Bank.

Net income: KES 5.19 billion (2020)

Total assets: KES 328.59 billion (2020)

Careers in Investment Banking

To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map:investment banking careers For banking careers, you will have a significant edge over the competition with our financial modeling courses.

Additional Resources

This has been a guide to the top banks in Kenya. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources:

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Become a certified Financial Modeling and Valuation Analyst (FMVA)® by completing CFI’s online financial modeling classes and training program!

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