Kenya’s listed banks have a combined Ksh.6.5 trillion total assets with KCB taking lead
Kenya only has ten banks that are listed on the Nairobi Securities Exchange (NSE) out of a larger 42 lenders cut across the country.
Of all these ten, their total assets through the 12 months to December 31, 2021, rose to Ksh.6.5 trillion with the Kenya Commercial Bank taking the lead.
The combined assets valuation is a 13.4 percentage point uptick from the previous fiscal year when it stood at Ksh.5.6 trillion.
KCB Group under the watch of newly appointed Chief Executive Paul Russo, saw its total assets jump by 36.4 percent to Ksh.1.5 trillion in the fiscal year 2022 from Ksh.1.3 trillion in the previous period.
Interest income grew by 15.3% to Ksh.117.8 billion, from Ksh.102.2 billion in FY’2021, mainly driven by a 13.8% increase in interest income from loans and advances to Ksh.84.2 billion, from Ksh.74.0 billion in FY’2021, coupled with a 23.8% increase in interest income from government securities to Ksh.32.9 billion, from Ksh.26.5 billion in FY’2021.
Equity Bank has established itself as one of Kenya’s most dependable financial institutions by introducing novel and improved innovations that have revolutionized the banking industry.
The lender saw its assets jump by 10 percent to Ksh.1.4 trillion from Ksh.1.3 trillion in the fiscal year 2021.
Its interest income grew by 26.8% to Ksh.119.6 billion, from Ksh.94.3 billion in FY’202, coupled with a 35.9% increase in interest income from government securities to Ksh.40.0 billion, from Ksh.29.5 billion in FY’2021. Dr. James Mwangi is the CEO of Equity.
The NCBA was birthed out of a merger between the Commercial Bank of Africa (CBA) and NIC Bank and is one of Kenya’s best banking institutions today.
It saw its interest income rise by 12.7% to Ksh.52.4 billion, from Ksh.46.5 billion in FY’2021, driven by a 21.8% increase in interest income from government securities to Ksh.24.8 billion, from Ksh.20.3 billion in FY’2021,
The bank has Ksh.619.7 billion in asset valuation, posing as one of the fastest-growing lenders in the country. NCBA Bank’s rates and service fees rank among the most affordable in the country. John Gachora is the current CEO.
Co-operative Bank of Kenya
Without monthly maintenance fees and no operating balance, the Co-operative Bank of Kenya is one of the biggest banks in the country.
It has assets valued at Ksh.607.2 billion, according to its financial records, having grown by 4 percent from Ksh.579.8 billion in 2021.
Interest expense increased by 11.0% to Ksh.16.2 billion in FY’2022, from Ksh.14.6 billion in FY’2021.
Diamond Trust Bank Kenya
Under the leadership of Nasim Mohamed Devji, Diamond Trust bank is placed 5th among NSE-listed lenders with an asset valuation of over Ksh.527 billion, a 15 percent uptick from Ksh.456.8 billion in 2021.
The asset grew by 15 percent from Ksh.456.8 billion in 2021 having been supported by a number of services it offers including among others asset finance, mortgages, investments, insurance, and savings.
The lender was formerly identified as Barclays Bank and has established itself as a highly successful financial institution in Kenya and throughout Africa.
Under the new leadership of Abdi Mohamed, the bank has total assets in the Kenyan market valued at Ksh.477.7 billion, having jumped by 11 percent from Ksh.428.7 billion from the previous year.
Interest income grew by 27.5% to Ksh.40.9 billion in FY’2022, from Ksh.32.0 billion in FY’2021, coupled with a 13.6% increase in interest income from Government securities to Ksh.9.4 billion, from Ksh.8.3 billion in FY’2021.
All of the bank’s new and existing customers benefit from the bank’s outstanding currency exchange rates.
According to its financial records, the lender has a total assets valuation of Ksh.436.6 billion, a 5.2 percentage point increase from the Ksh.415 asset valuation in 2021.
Interest income rose by 12.9% to Ksh.37.4 billion in FY’2022, from Ksh.33.1 billion in FY’2021, coupled with a 15.5% increase in interest income from government securities to Ksh.10.5 billion from Ksh.9.1 billion in FY’2021. Kihara Maina is the lender’s current CEO.
Stanbic is a subsidiary of Standard Bank, Africa’s biggest bank by asset valuation headquarters in Johannesburg, South Africa.
The 2022 FY records show that it outperformed all the lenders to grow its asset valuation which currently stand at Ksh.399.8 billion, a 21 percentage point increase from Ksh.328.9 billion in 2022.
Interest income grew by 27.3% to Ksh.25.6 billion, from Ksh.20.1 billion in FY 2021. The lender tapped former KCB Group CEO Joshua Oigara to oversee its operation.
Under the watch of Bill Winters, Standard Chatered has grown to be one of the most highly regarded Kenyan banks. Its stellar international reputation has also contributed to a significant increase in its Kenyan customer satisfaction rate.
Locally, the lender’s total assets are valued at Ksh.381.3 billion, up by 13 percent from Ksh.334.9 billion valuation in previous fiscal year.
Interest income grew by 14.3% to Ksh.25.5 billion, from Ksh.22.3 billion in FY’2021, mainly driven by a 12.5% increase in interest income earned from government securities to Ksh.10.3 billion, from Ksh.9.2 billion in FY’2021.
HF Group Plc
Housing Finance Company Limited is a large mortgage finance company, serving the mortgage needs of the Kenyans.
It has seen its assets value jump by seven percent to Ksh.57 billion, from Ksh.53.2 billion in 2021.
Interest expenses increased by 0.7% to Ksh.2.11 billion, from Ksh.2.10 billion in FY’2021, following a 3.9% increase in interest expense on customer deposits to Ksh.1.6 billion, from Ksh.1.5 billion recorded in FY’2021.
Robert Kibaara is the CEO of the mortgage finance lender.