The top 10 banks in Kenya are controlling more than three-quarters of the market, according to the Central Bank of Kenya’s Bank Supervision Annual Report 2024.
The CBK data for December 2024 shows that these institutions lead in deposits, shareholders’ funds, and customer accounts, underscoring their influence on the financial landscape.
KCB Bank Kenya Limited retained its position as the largest bank, holding a 16.6% market share and total net assets worth Ksh1.28 trillion.
It also leads in deposits at Ksh988.5 billion and in shareholders’ funds at 15.5%.
KCB serves an extensive customer base with 53.6 million deposit accounts and 1.43 million loan accounts, both the highest in the industry.
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Equity Bank Ranks Second After KCB
Equity Bank Kenya Limited comes second with a 12.8% market share and Ksh1.03 trillion in assets.
The bank manages Ksh843.6 billion in deposits and 10.4% of shareholders’ funds, serving over 14.4 million deposit accounts and 844,445 loan accounts.
Co-operative Bank of Kenya Limited holds the third position, with 9.6% market share and total assets worth Ksh687.8 billion.
NCBA Bank Kenya PLC ranks fourth with an 8.3% share and total assets valued at Ksh588.7 billion.
The bank has 3.3 million deposit accounts and over 2.07 million loan accounts, strengthened by its strong digital banking presence.
Absa Bank Kenya PLC takes the fifth spot with a 6.6% market share and assets worth Ksh506.2 billion. Absa also controls 6.5% of deposits and 5.9% of shareholders’ funds, with over 4.15 million deposit accounts and 1.23 million loan accounts.
Also Read: CBK Reveals How Kenyan Banks Shared Ksh260 Billion Profit in 2024
Stanbic Bank and Other Banks Ranked
Stanbic Bank Kenya Limited is sixth with a share of 5.7% and assets valued at Ksh445.2 billion.
I&M Bank Limited follows closely in seventh place, with a 5.6% share and assets worth Ksh428.3 billion.
On the other hand, Standard Chartered Bank Kenya Limited is in eighth place, controlling 5.4% market rate and has Ksh385.2 billion assets.
Diamond Trust Bank Kenya Limited ranked ninth with a 5.2% share and assets worth Ksh381.1 billion.
Prime Bank Limited ranked 10th, holding a 2.9% market share and total assets valued at Ksh188.8 billion.
The CBK report notes that the top 10 banks account for 75.6% of total assets, 75.5% of deposits, and 75% of shareholders’ funds. This gives the banks influence over lending trends, interest rates, and financial innovation in the sector.
| Rank | Bank | Market Share (%) | Total Assets (Ksh Trillions) | Deposits (Ksh Trillions) | Shareholders’ Funds (%) |
|---|---|---|---|---|---|
| 1 | KCB Bank Kenya Limited | 16.6 | 1.280 | 0.989 | 15.5 |
| 2 | Equity Bank Kenya Limited | 12.8 | 1.030 | 0.844 | 10.4 |
| 3 | Co-operative Bank of Kenya Limited | 9.6 | 0.688 | 0.601 | 8.1 |
| 4 | NCBA Bank Kenya PLC | 8.3 | 0.589 | 0.462 | — |
| 5 | Absa Bank Kenya PLC | 6.6 | 0.506 | 0.379 | 5.9 |
| 6 | Stanbic Bank Kenya Limited | 5.7 | 0.445 | 0.332 | — |
| 7 | I&M Bank Limited | 5.6 | 0.428 | 0.316 | — |
| 8 | Standard Chartered Bank Kenya Limited | 5.4 | 0.385 | 0.296 | — |
| 9 | Diamond Trust Bank Kenya Limited | 5.2 | 0.381 | 0.305 | — |
| 10 | Prime Bank Limited | 2.9 | 0.189 | 0.176 | — |
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