In terms of assets, Kenya Commercial Bank (KCB) was the biggest bank operating in Kenya as of 2023. The institution registered an asset value of approximately 12.6 billion U.S. dollars. Equity Bank Group followed, with assets worth almost 12 billion U.S. dollars. Both institutions also led among banks with the largest level of tier 1 capital in the country.
Kenya’s banking landscape
In 2022, Kenya's largest bank was KCB Bank Kenya with a market share of 14 percent. This was followed by Equity Bank which had a share of over 12 percent. Similarly, when considering Kenya’s largest banks in terms of value of deposits the same banks were at the top of the list. Furthermore, the rate of bank account penetration was particularly high in Kenya compared to other African countries, with a penetration rate of 86 percent.
African banking revenue soars
The estimated African banking revenue in 2022 was 129 billion U.S. dollars. This was considerably higher than the previous year. The countries with the largest banking industries in Africa in the form of capital were South Africa and Egypt ,respectively. Kenya ranked fifth on the list, however, its industry was far smaller than the above-mentioned countries.
Largest banks in Kenya as of 2023, by total assets
(in billion U.S. dollars)
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
African Business. (October 4, 2023). Largest banks in Kenya as of 2023, by total assets (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 08, 2024, from https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/
African Business. "Largest banks in Kenya as of 2023, by total assets (in billion U.S. dollars)." Chart. October 4, 2023. Statista. Accessed October 08, 2024. https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/
African Business. (2023). Largest banks in Kenya as of 2023, by total assets (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 08, 2024. https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/
African Business. "Largest Banks in Kenya as of 2023, by Total Assets (in Billion U.S. Dollars)." Statista, Statista Inc., 4 Oct 2023, https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/
African Business, Largest banks in Kenya as of 2023, by total assets (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/ (last visited October 08, 2024)
Largest banks in Kenya as of 2023, by total assets (in billion U.S. dollars) [Graph], African Business, October 4, 2023. [Online]. Available: https://www.statista.com/statistics/1230490/largest-banks-in-kenya-by-total-assets/