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    • Banking Industry Kenya

    The Banking Industry in Kenya 2021

    Gary Phillips | Kenya | 18 November 2021

    The Banking Industry in Kenya 2019

    Louise Mitchell | Kenya | 13 November 2019

    The Banking Industry in Kenya 2018

    Louise Mitchell | Kenya | 12 January 2018

    Report Info

    Report Summary Table of Contents
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    Report Coverage

    This report covers the Kenyan banking industry, focusing on commercial banks and also including the central bank, microfinance and mutual funds such as local credit and savings unions and community-based financial services associations. It includes comprehensive information on the size and state of the industry, the performance and developments of major industry players, corporate actions and industry developments. There are profiles of 56 companies including notable commercial banks such as Standard Chartered, Stanbic, Equity Bank and KCB Group, smaller banks including Paramount and Middle East Bank and microfinance banks such as Faulu and Muungano.

    The Banking Industry in Kenya

    Most assets in Kenya’s banking industry are held by commercial banks, and among these, most are held by the country’s 10 listed companies, half of which are foreign-owned. The Kenyan banking industry is widely held to be overbanked, and large banks are being driven by intensely competitive and low-margin conditions to consolidate through mergers and acquisitions and to become fully regionalised.

    Digital Disruption

    The traditional branch, ATM and agent network model is being disrupted by digital banking services that are changing how commercial banks reach their customers. The majority of banking transactions in Kenya take place outside branches, and digital and mobile banking can be rolled out at a fraction of the cost of branches, ATMs and even agents, enabling commercial banks to expand to previously unreached consumers while reducing costs and improving income through digitisation and mobile banking investments.

    Consolidation

    The Kenyan banking industry has been consolidating over the past few years. After a loan restructuring period and the subsequent restoration of net interest revenue and profitability, well-capitalised large commercial banks are expected to continue to consolidate locally and acquire small banks on low valuations, expand into the region and pursue digital banking to lower costs and win back small business and household customers lost to non-bank competitors in recent years.

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    The Banking Industry in Kenya 2021

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    Industry Overview

    R 4 550.00(ZAR) estimated $ 243.63 (USD)*

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    Historical Reports

    The Banking Industry in Kenya 2019-11-13

    R 1 900.00(ZAR) estimated $101.74 (USD)*

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    The Banking Industry in Kenya 2018-01-12

    R 1 900.00(ZAR) estimated $101.74 (USD)*

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    Table of Contents

    [ Close ]
    PAGE
    1. INTRODUCTION 1
    2. COUNTRY PROFILE 1
    2.1. Geographic Position 8
    3. DESCRIPTION OF THE INDUSTRY 10
    3.1. Industry Value Chain 16
    3.2. Size of the Industry 17
    3.3. Key Success Factors and Pain Points 33
    4. LOCAL 34
    4.1. Key Trends 34
    4.2. Notable Players 39
    4.3. Corporate Actions 49
    4.4. Regulations 51
    4.5. Enterprise Development and Social Development 54
    5. AFRICA 57
    6. INTERNATIONAL 59
    7. INFLUENCING FACTORS 61
    7.1. COVID-19 61
    7.2. Economic Environment 62
    7.3. Labour 64
    7.4. Technology, R&D and Innovation 66
    7.5. Input Costs 68
    7.6. Kenya’s Credit Rating 70
    8. COMPETITIVE ENVIRONMENT 72
    8.1. Competition 72
    8.2. Barriers to Entry 73
    9. SWOT ANALYSIS 74
    10. OUTLOOK 75
    11. INDUSTRY ASSOCIATIONS 76
    12. REFERENCES 76
    12.1. Publications 76
    12.2. Websites 77
    COMPANY PROFILES 84
    Absa Bank Kenya PLC 84
    Access Bank (Kenya) PLC 92
    African Banking Corporation Ltd 95
    Bank of Africa Kenya Ltd 98
    Bank of Baroda (Kenya) Ltd 101
    Bank of India Kenya (Kenya branch of Bank of India) 104
    Caritas Microfinance Bank Ltd 106
    Central Bank of Kenya 108
    Century Microfinance Bank Ltd 111
    Choice Microfinance Bank Ltd 113
    Citibank Kenya (Kenya branch of Citibank N.A.) 115
    Co-operative Bank of Kenya Ltd (The) 117
    Consolidated Bank of Kenya Ltd 124
    Credit Bank PLC 127
    Daraja Microfinance Bank Ltd 130
    Development Bank of Kenya Ltd 131
    Diamond Trust Bank Kenya Ltd 133
    DIB Bank Kenya Ltd 138
    Ecobank Kenya Ltd 140
    Equity Bank (Kenya) Ltd 143
    Family Bank Ltd 145
    Faulu Microfinance Bank Ltd 151
    First Community Bank Ltd 154
    Guaranty Trust Bank (Kenya) Ltd 157
    Guardian Bank Ltd 160
    Gulf African Bank Ltd 163
    Habib Bank Kenya (Kenya branch of Habib Bank AG Zurich) 166
    HFC Ltd 168
    I&M Bank Ltd 170
    KCB Group PLC 175
    Kenya Women Microfinance Bank PLC 179
    KEY Microfinance Bank PLC 183
    Kingdom Bank Ltd 185
    M Oriental Bank Ltd 188
    Maisha Microfinance Bank Ltd 191
    Mayfair CIB Bank Ltd 193
    Middle East Bank Kenya Ltd 196
    Muungano Microfinance Bank PLC 199
    NCBA Group PLC 201
    Paramount Bank Ltd 205
    Prime Bank Ltd 207
    Rafiki Microfinance Bank Ltd 210
    RentWorks East Africa Ltd 212
    SBM Bank (Kenya) Ltd 213
    Sidian Bank Ltd 216
    Simba Corporation Ltd 219
    SMEP Microfinance Bank Ltd 222
    Spire Bank Ltd 225
    Stanbic Bank Kenya Ltd 227
    Standard Chartered Bank Kenya Ltd 231
    Sumac Microfinance Bank Ltd 236
    U & I Microfinance Bank Ltd 238
    UBA Kenya Bank Ltd 240
    Uwezo Microfinance Bank Ltd 242
    Vehicle and Equipment Leasing Ltd 244
    Victoria Commercial Bank Ltd 246

    Report Coverage

    The report on the Kenyan banking industry covers deposit-taking institutions which include other credit granting, lease financing, and loyalty and reward programmes, as well as central banking. The report includes information on the size and state of the industry, its major players and specific areas of interest such as mobile and Islamic banking. There are profiles of 37 companies including major players such as Equity Bank and the Co-operative Bank of Kenya and Barclays, which is set to complete its rebranding to Absa by 2020. Profiles also include those of Key Microfinance Bank, which changed its name from Remu Microfinance Bank, and international banks Citibank and Bank of India.

    The Banking Sector in Kenya

    Kenya’s financial sector is well developed although the country is considered overbanked with 40 registered banks. The market is highly concentrated with the 12 listed commercial banks owning 89% of the total assets in 2018. Commentators view the industry as well capitalised and performance is steadily picking up momentum since the market shock of 2016 when the government introduced capped interest rates that discouraged savings, reduced private sector and SME access to credit and impeded banking sector competition, particularly by reducing smaller banks’ profitability. Innovations such as agent banking, which allows commercial banks and microfinance banks to engage the services of third party outlets to deliver specified financial services on their behalf, have improved financial inclusion in rural and urban areas.

    Mobile Money

    Mobile financial services are the preferred method to access financial services and are used by almost 80% of the adult population. There are more than 20 digital credit services in Kenya, and new services continue to come on stream. Mobile money services include M-Pesa, M-Shwari, Airtel Money, Orange/Telkom Money, Equitel Money, Mobikash and Tangaza, with M-Pesa having the bulk of the market share in terms of active subscribers, number of transactions, and value of transactions. Total mobile money transactions in Kenya reached US$38.5bn in 2018, and the total number of mobile money accounts in Kenya reached 45.43 million.

    Read More..
    The Banking Industry in Kenya 2019

    Full Report

    R 1 900.00(ZAR) estimated $101.74 (USD)*

    Buy Now +

    Industry Overview

    R 1 330.00(ZAR) estimated $ 71.21 (USD)*

    Buy Now +

    Historical Reports

    The Banking Industry in Kenya 2021-11-18

    R 6 500.00(ZAR) estimated $348.04 (USD)*

    View Report Add to Cart

    The Banking Industry in Kenya 2018-01-12

    R 1 900.00(ZAR) estimated $101.74 (USD)*

    View Report Add to Cart

    Table of Contents

    [ Close ]
    PAGE
    1. INTRODUCTION 1
    2. COUNTRY INFORMATION 1
    2.1. Geographic Position 2
    3. DESCRIPTION OF THE INDUSTRY 3
    3.1. Industry Value Chain 8
    4. SIZE OF THE INDUSTRY 8
    5. STATE OF THE INDUSTRY 12
    5.1. Local 12
    5.1.1. Corporate Actions 17
    5.1.2. Regulations 19
    5.1.3. Enterprise Development and Social Economic Development 22
    5.2. Continental 23
    5.3. International 30
    6. INFLUENCING FACTORS 32
    6.1. Economic Environment 32
    6.2. Financial Inclusion 33
    6.3. Operating Costs 34
    6.4. Information Technology (IT), Research and Development (R&D) and Innovation 35
    6.5. Labour 36
    6.6. Cybercrime and Fraud 37
    7. COMPETITION 38
    7.1. Barriers to Entry 39
    8. SWOT ANALYSIS 39
    9. OUTLOOK 41
    10. INDUSTRY ASSOCIATIONS 41
    11. REFERENCES 42
    11.1. Publications 42
    11.2. Websites 42
    APPENDIX 1 44
    Summary of Notable Players 44
    COMPANY PROFILES 48
    AFRICAN BANKING CORPORATION LTD 48
    BANK OF AFRICA KENYA LTD 51
    BANK OF BARODA (KENYA) LTD 54
    BANK OF INDIA 57
    BARCLAYS BANK OF KENYA LTD 61
    CARITAS MICROFINANCE BANK LTD 69
    CENTRAL BANK OF KENYA 71
    CITIBANK N.A. 74
    CO-OPERATIVE BANK OF KENYA LTD (THE) 77
    COMMERCIAL BANK OF AFRICA LTD 83
    DIAMOND TRUST BANK KENYA LTD 87
    ECOBANK KENYA LTD 92
    EQUITY BANK (KENYA) LTD 95
    FAMILY BANK LTD 97
    FAULU MICROFINANCE BANK LTD 103
    GUARANTY TRUST BANK KENYA LTD 105
    GULF AFRICAN BANK LTD 108
    HFC LTD 111
    I&M BANK LTD 113
    KCB GROUP PLC 117
    KENYA WOMEN MICROFINANCE BANK PLC 121
    KEY MICROFINANCE BANK PLC 125
    NATIONAL BANK OF KENYA LTD 127
    NIC GROUP PLC 133
    PRIME BANK LTD 138
    RENTWORKS EAST AFRICA LTD 142
    SBM BANK (KENYA) LTD 143
    SIDIAN BANK LTD 146
    SIMBA CORPORATION LTD 149
    SMEP MICROFINANCE BANK LTD 152
    STANBIC BANK KENYA LTD 155
    STANDARD CHARTERED BANK KENYA LTD 159
    SUMAC MICROFINANCE BANK LTD 164
    UBA KENYA BANK LTD 167
    UWEZO MICROFINANCE BANK LTD 169
    VEHICLE AND EQUIPMENT LEASING LTD 171
    VICTORIA COMMERCIAL BANK LTD 173

    Report Coverage

    The detailed report on the Kenyan banking sector describes the current market, the latest regulatory developments and discusses factors influencing the success of the sector. The report profiles 34 companies active in the sector, including the five leading banks, Equity Group, Kenya Commercial Bank (KCB), The Co-operative Bank of Kenya, Standard Chartered Bank and Barclays Bank of Kenya. Also profiled are international banks, Bank of India and Citibank NA.

    The Banking Sector in Kenya

    The report on the Kenyan banking industry covers deposit-taking institutions which include other credit granting, lease financing, and loyalty and reward programmes. Kenya’s financial sector is well developed contributing 7% to GDP in 2016, with the banking sub-sector accounting for more than 60% of total assets in the financial services sector between January 2016 and March 2017. With 45 licensed commercial banks, 14 microfinance banks, and eight representative offices of foreign banks serving a population of approximately 50 million people, many analysts believe the country is overbanked.

    A World Leader in Mobile Money Technology

    Kenya is a world leader in mobile money technology. Innovations such as agent banking, which allows commercial banks and deposit-taking Micro Finance Institutions to engage the services of third party outlets to deliver specified financial services on their behalf, have improved financial inclusion in rural and urban areas. A study by Nielsen on Kenyan Retailers and Technology revealed that while the uptake in mobile usage in Kenya, where mobile penetration has reached 96%, has been significant, there still is significant scope for growth in the market, particularly in the retail environment.

    Confronted by Numerous Challenges

    Economic and regulatory challenges are reflected in the decline in growth of the financial services sector to 4.3% in the second quarter of 2017 compared to 8.1% in the same period in 2016. There are concerns that the financial services system could be jeopardised if fraud allegations against officials of the Central Bank of Kenya are substantiated. Meanwhile the running costs of banks are increasing. IT expenditure continues to grow in order for banks to keep up with regulatory requirements, improve efficiencies, and to increase digital products that will make banking cheaper for customers and improve banking inclusion.

    Read More..
    The Banking Industry in Kenya 2018

    Full Report

    R 1 900.00(ZAR) estimated $101.74 (USD)*

    Buy Now +

    Industry Overview

    R 1 330.00(ZAR) estimated $ 71.21 (USD)*

    Buy Now +

    Historical Reports

    The Banking Industry in Kenya 2021-11-18

    R 6 500.00(ZAR) estimated $348.04 (USD)*

    View Report Add to Cart

    The Banking Industry in Kenya 2019-11-13

    R 1 900.00(ZAR) estimated $101.74 (USD)*

    View Report Add to Cart

    Table of Contents

    [ Close ]
    PAGE
    1. INTRODUCTION 1
    2. COUNTRY INFORMATION 1
    2.1. Geographic Position 2
    3. DESCRIPTION OF THE INDUSTRY 3
    3.1. Industry Value Chain 7
    4. SIZE OF THE INDUSTRY 8
    5. STATE OF THE INDUSTRY 18
    5.1. Local 18
    5.1.1. Corporate Actions 26
    5.1.2. Regulations 26
    5.1.3. Enterprise Development and Social Economic Development 28
    5.2. Continental 30
    5.3. International 33
    6. INFLUENCING FACTORS 34
    6.1. Economic Environment 34
    6.2. Terrorism 35
    6.3. Financial Inclusion 35
    6.4. Rising Operating Costs 37
    6.5. Information Technology, Research and Development (R&D) and Innovation 37
    6.6. Labour 39
    6.7. Cybercrime and Fraud 41
    7. COMPETITION 42
    7.1. Barriers to Entry 43
    8. SWOT ANALYSIS 43
    9. OUTLOOK 45
    10. INDUSTRY ASSOCIATIONS 45
    11. REFERENCES 46
    11.1. Publications 46
    11.2. Websites 47
    APPENDIX 1 48
    Current Digital Credit Products in Kenya 48
    COMPANY PROFILES 50
    AFRICAN BANKING CORPORATION LTD 50
    BANK OF AFRICA KENYA LTD 53
    BANK OF BARODA (KENYA) LTD 56
    BANK OF INDIA 59
    BARCLAYS BANK OF KENYA LTD 63
    CARITAS MICROFINANCE BANK LTD 70
    CENTRAL BANK OF KENYA 72
    CITIBANK NA 75
    CO-OPERATIVE BANK OF KENYA LTD (THE) 78
    COMMERCIAL BANK OF AFRICA LTD 84
    DIAMOND TRUST BANK KENYA LTD 88
    ECOBANK KENYA LTD 93
    EQUITY BANK (KENYA) LTD 96
    FAMILY BANK LTD 98
    FAULU MICROFINANCE BANK LTD 104
    GUARANTY TRUST BANK KENYA LTD 106
    GULF AFRICAN BANK LTD 109
    HFC LTD 112
    I&M BANK LTD 114
    KCB GROUP LTD 118
    KENYA WOMEN MICROFINANCE BANK LTD 121
    NATIONAL BANK OF KENYA LTD 124
    NIC BANK LTD 130
    PRIME BANK LTD 135
    RAFIKI MICROFINANCE BANK LTD 138
    REMU MICROFINANCE BANK LTD 141
    SIDIAN BANK LTD 143
    SMEP MICROFINANCE BANK LTD 145
    STANBIC BANK LTD 147
    STANDARD CHARTERED BANK KENYA LTD 150
    SUMAC MICROFINANCE BANK LTD 155
    UBA KENYA BANK LTD 157
    UWEZO MICROFINANCE BANK LTD 159
    VICTORIA COMMERCIAL BANK LTD 160

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