The number of commercial banks in Kenya as a developing country has been growing in number. Several Commercial banks are operating in the country, licensed and regulated by the central bank of Kenya (CBK). In this post, we have compiled a list of the Top 10 Banks in Kenya.
- KCB Bank
The Kenya Commercial Bank (KCB) is Kenya’s most trusted commercial, financial facility by many Kenyans. The bank has millions of Kenyan clients, not to mention the number of international clients who also use the bank to make cross country money transactions. The bank has a well-established and also advanced technology technique that ensures your money is not just safe but double checked on every single cash transaction done at the bank. KCB Bank has made life pretty easier for all their customers by delivering mobile services through their partnership with giant Telecommunication Service Provider Safaricom PLC on KCB MPESA.
- Equity Bank
Equity Bank was initially incorporated as a non-trading organization in 2014. Before that status, Equity Group was working as a holding bank for its affiliates and a licensed bank in Kenya. Their main products and services are inclusive of; mortgages, loans and money savings, investments, credit cards, and prepaid debit cards. Equity bank operates in other countries like South Sudan, Congo, Uganda, and Rwanda. Equity Bank PLC is licensed and regulated by the Central Bank of Kenya. Its main offices are located in Nairobi.
Equity Bank introduced the Agency Banking in 2010, which was approved by the CBK. The bank is currently owned completely by Equity Group Holdings, with assets totalling more than $3.83 billion. The firm prides itself on its customer base of over 9.2 million customers in six countries across East Africa. Equity bank has over 173 branches and ATMs in Kenya, 38 of them in Nairobi only. James Mwangi is the company’s current managing director, and David Ansell is the chairman of the board of directors.
- Co-operative Bank
The Co-operative Bank is one of the top banks in the country, without a doubt. The Bank needs Zero operating balance and nil monthly maintenance fees. Coop bank customers are good representatives of the financial institution by spending the word of how they relish the services offered by the bank.
If you are looking for a dependable bank in Kenya, then Coop Bank should be on your list of banks to consider using in Kenya.
- Standard Chartered Bank
The Standard Chartered Bank(Stanchart) in Kenya is one of the most recommended commercial Kenyan banks. The bank has an amazing global reputation which has also boosted its customer fulfilment rate in Kenya. The bank is among the oldest and top banks in Kenya, with the best transparency services to all their consumers and clients.
If a bank with a standard and excellent reputation is what you are looking for, then you should definitely consider using the Standard Chartered Bank.
- ABSA Bank
ABSA Bank Kenya, which was previously known as Barclays Bank Kenya, has built a very successful financial institution in not only Kenya but the entire Africa at large. The bank provides a lot of completely free services, and all their clients enjoy a secure and affordable money transactions. organizations, Businesses, students, and individuals in Kenya have trusted ABSA with their savings.
This bank is among the best recommended banks for savings and investments for consumers.
- NCBA Bank
The NCBA Bank Kenya, which was formerly known as CBA Bank and the NIC Bank, is among the top financial facilities in Kenya today. NCBA bank came as a result of a merger between CBA and NIC banks. The commercial rates and services of NCBA Bank are likewise among the most affordable in the country compared to other financial organisations.
The bank is also rated among the most recommended banks in Kenya to open an account with, not to mention that this bank is on the top list of the fastest growing companies in Kenya.
- Stanbic Bank
Stanbic Bank is a Standard Bank Group Subsidiary (founded in Johannesburg, South Africa). It is currently Kenya’s sixth-largest bank, licensed by the Central Bank of Kenya to donate banking services to the growing economy of Kenya.
The bank has a total number of 24 branches and ATMs that span across major towns in Kenya and also trading in other African countries like Congo, Zambia, Botswana, Ghana, Malawi, Nigeria, Zimbabwe, and South Sudan, and Uganda. Financial services, including corporate and investment banking, business, mortgages, credit cards, and personal banking offering benefits to small-to-medium firms and individuals alike, are the day-to-day services provided by the bank.
SBM Bank Limited, formerly known as Fidelity Commercial Bank Limited, is a commercial bank in Kenya. SBM acquired Chase bank in early 2018, which had been put under bank receivership in APRIL 2016.
- National Bank
The government-owned National Bank of Kenya was founded in 1968 and is one of the biggest banks in Kenya. It was formerly formed to empower Kenyans after independence and allow them to access credit and control their economy. In early 2019, it became a subsidiary of the Kenya Commercial Bank Group. The bank has the largest investments in Kenya, which amount to over $7 billion.
- Diamond Trust Bank
The Diamond Trust Bank Kenya Ltd (DTB) delivers various banking products and services, insurance, including mortgages, investments, savings and deposit accounts, debit and also credit cards, money transfer services, and asset finance.
The bank is among the best bank in Kenya and the entire East Africa. The financial organisation was founded back in 1945