Bank Accounts

Top 10 banks in Kenya

Published

1 year ago

June 15, 2023

John Waceke

What are the top 10 banks in Kenya? Kenya has 28 commercial and 14 foreign banks. So, finding the best bank that offers reasonable loan interest can be challenging. Most people open the best bank accounts in Kenya only to find out later that the banks aren’t reliable.

Currency, Wealth, Banking. Source: Getty Images

Fortunately, all banks and financial institutions are governed by the CBK (Central Bank of Kenya. This body formulates monetary policies to guarantee price stability in the market. Moreover, CBK establishes and implements all foreign exchange policies. Besides, CBK promotes the economy’s financial stability and provides currencies. Therefore, before you pick the top 10 banks in Kenya, check out the list of licensed financial institutions here.

List of top ten banks in Kenya

Kenya commercial bank (KCB)

KCB is one of the largest banks in Kenya by asset base. The bank enjoys a wider clientele base, both international and national level. The facility has an advanced and well-established technology system that ensures your savings are safe and counter-checked on all transactions you make.

Kenya Commercial Bank offers efficient mobile banking services via their collaboration with Safaricom, the leading telecommunication company in Kenya. They offer KCB Mpesa services, a product that has made life easier for their clients.

Equity bank

Equity Bank is one of the most profitable banks in Kenya. Equity was registered as a non-trading company in 2014. But before that, the equity group was serving as a holding facility for its affiliates and a licensed banking institution.

It’s one of the top banks for business loans since their loan approval is quick, and with EazzyNet, clients can monitor their accounts in real time. Some of the services and products include loans, savings, credit cards, debit cards, investments, and mortgages. The bank is available in other nations such as Rwanda, Uganda, Tanzania, and South Sudan. The bank serves over 9.2 million clients in those six nations.

Cooperative bank

The Cooperative bank has over 100 branches and 583 ATMs, and all dedicate to guaranteeing client satisfaction. Moreover, it has over 3.5 million clients all over the count.

If you are searching for the best online bank, opening a Cooperative bank online banking is the best move. Whether you want a debit card, checking, investment or loans, you will get them at coop bank, all under one roof. It’s one of the best banks for savings accounts since it requires zero monthly maintenance charges and zero operating balances.

Standard chartered bank

Standard Chartered is among the top 10 richest banks in Kenya. It’s known for its incredible international reputation, which has increased its client satisfaction rate. The standard chartered bank is one of the oldest Kenyan banks with incredible transparency services to their customers. Consider Standard Chartered if you are looking for a financial facility with an excellent and solid reputation.

ABSA bank

The bank was operating as Barclays bank before it changed to Absa Bank. It offers a broad range of products and services, such as credit cards, loans, savings, mortgages, and investments. For businesses, individuals, students, and organizations searching for the best investment banks, Absa is the best choice. Besides, Absa offers secure and affordable money transfers.

NCBA

NIC Bank and CBA merged to form NCBA Bank. The bank is known for offering affordable rates and services. It ranks as the most recommended financial institution in Kenya for people can open an account with. NCBA is also one of the fastest-growing businesses in Kenya. It offers services such as loans, savings, and investments.

I&M bank

I&M bank is one of the top 10 largest banks in Kenya, offering incredible financial solutions to their clients. The facility offers the best currency exchange rates that old and new clients enjoy by being part of the bank. I&M bank is loved by organizations, individuals, and people who at some point need to transact foreign currency in Kenya. The institution offers an effective process of selling and buying GBP, EURO, and USD currencies.

National bank

The National bank is a government-owned bank that was established in 1968. It provides a wide range of services like loans, debit cards, credit cards, savings, checking, investments, and much more. It’s open to the general public, SMEs, and large cooperation. The bank as well dispersed branches all over Kenyan with incredible customer service.

Diamond trust bank of Kenya

Also known as DTB, Diamond trust bank of Kenya was established in 1946 and operated in Kenya, Burundi, Tanzania, and Uganda. The facility provides loans, insurance, savings, mortgage, investments, credit cards, and assets finance.

The bank operates over 130 branches in the whole of east Africa. It cooperated with Habib bank and the international financial corporation to own Habib bank Kenya. Additionally, Diamond trust bank of Kenya offers mobile banking via iOS and Android devices. It has a net income of 3.25B and an asset worth 425.05B as of 2020.

Stanbic Bank

Piggy Bank and Stack of Coins. Source: Getty Images.

Stanbic Bank is one of the tier 1 banks in Kenya. This is an affiliate bank of standard bank Group based in South Africa. It has been licensed by CBK to offer banking solutions to the growing Kenyan economy.

The bank offers financial solutions like private banking, credit cards, mortgage, and asset management. It serves large businesses, small businesses, and individuals. This bank operates over 25 branches and 48 ATMs. As of 2020, the bank had assets worth 328.59B AND a Net income of 5.19B.

It’s now easy choose from the top ten banks in Kenya from this list. Whether you plan to sign up for a current account, savings account, mortgage, or asset finance or apply for a credit or debit card, you’ll find a bank ready to serve you. The interest imposed on different services and products is reasonable. You will find the best banking partner from this list if you are dedicated to opening a bank account in Kenya.

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