Top 10 Commercial Banks in Kenya

The number of banks in Kenya as a developing country has been growing in number. There are several Commercial banks operating in the country Licenced and regulated by central bank of Kenya (CBK).

List of Commercial Banks in Kenya

In this article we have compiled a list of Top 10 Banks in Kenya.

1. KCB Bank

The Kenya Commercial Bank is Kenya’s most trusted commercial financial facility. The bank has millions of Kenyan customers not mentioning the number of international customers who also use the bank to make international money transactions. The bank has a well established and advanced technology system that ensures your money is not only safe but double checked on every single transaction done. KCB Bank has made life easier for all their customers by offering mobile mobile services through their partnership with Telecommunication Service Provider Safaricom on KCB MPESA. KCB is on of the banks in Kenya with government shareholding.

2. Equity Bank

Equity Bank was incorporated as a non-trading organization in 2014. Before that, Equity Group was operating as a holding bank for its affiliates and a licensed bank.  Their main products and services are; mortgages, loans and savings, investment, credit cards, and debit cards.  The bank operates in other countries like South Sudan, Uganda, and Rwanda.  Equity Bank is licensed by the Central Bank of Kenya. Its headquarters are located in Nairobi. Equity is among the biggest banks in Kenya in terms of assets and membership.

Equity Bank introduced Agency Banking in 2010 which was approved by CBK. The bank is owned completely by Equity Group Holdings with assets totaling over $3.83 billion. The company prides itself on its customer base of over 9.2 million members in six countries across East Africa.  Equity bank has over 173 branches in Kenya, 38 of them in Nairobi only. James Mwangi is the company’s managing director and David Ansell is the chairman of the board of directors.

4. Co-operative Bank

The Co-operative Bank is one of the best banks in the country without a doubt. The Bank requires Zero operating balance and nil monthly maintenance fees. Coop bank customers are good ambassadors of the financial institution by spending the word of how they enjoy the services offered by the bank.

If you are looking for a reliable bank in Kenya, then Coop Bank should be in your list of banks to consider in Kenya.

5. Standard Chartered Bank

The Standard Chartered Bank in Kenya among the most recommended commercial banks in Kenya . The bank has an amazing international reputation which has also boosted its customer satisfaction rate in Kenya. The bank is among the oldest banks in Kenya with the best transparency services to all their customers and clients.

If a bank with standard and amazing reputation is what you are looking for, then you should definitely consider the Standard Chartered Bank.

6. ABSA Bank

ABSA Bank Kenya which was formerly known as Barclays Bank has build a very successful financial institution in not only Kenya but Africa at large. The bank offers a lot of completely free services and all their customers enjoy a secure and affordable money transactions. Businesses, students, organizations and individuals in Kenya have trusted ABSA with their savings.

This bank is among the most recommended banks for savings and investments.

7. NCBA Bank

The NCBA Bank which was formerly known as CBA Bank  and NIC Bank is among the best financial facilities in Kenya today.  NCBA came as a result of a merger between CBA and NIC. The rates and services of NCBA Bank are also among the most affordable in the country compared to other financial institutions.

The bank is also ranked among the most recommended banks in Kenya to open an account with, not mentioning that this bank is on the top list of the fastest growing companies in Kenya.

8. Stanbic Bank

Stanbic Bank is a Standard Bank Group Division (based in Johannesburg, South Africa) and currently Kenya’s sixth-largest bank licensed by the Central Bank of Kenya to contribute banking services to the growing economy of Kenya.

It has a total number of 24 branches that span across major towns in the country and also trading in other African countries like Botswana, Ghana, Malawi, Nigeria, Zimbabwe, Congo, Zambia, South Sudan, and Uganda. Financial services including corporate and investment banking, mortgages, credit cards, business, and personal banking offering services to small-to-medium firms and individuals are the day-to-day services provided by the bank.

8. SBM

SBM Bank Limited, previously known as Fidelity Commercial Bank Limited, is a commercial bank in Kenya.  SBM acquired Chase bank in 2018 which had been put under receivership in APRIL 2016.

9. National Bank

The government-owned National Bank of Kenya was established in 1968 and is one of the largest banks in Kenya. It was initially formed to empower Kenyans after independence and enable them to access credit and control their economy. In 2019, it became a subsidiary of the Kenya Commercial Bank Group. The bank has the largest assets in Kenya which amount to over $7 billion.

10. Diamond Trust Bank

The 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.

The bank is among the best bank in Kenya and East Africa. The financial institution was founded back in 1945.