Banks in Kenya
Kenya has 43 banks and one mortgage finance institution, Housing Finance. The Financial sector expanded by 4.6 per cent in 2009 compared to 2.7 per cent in 2008. This was mainly caused by increased profitability by banks.
The Government has reformed banking to make it internationally competitive. In 2007, the Ministry of Finance proposed to raise bank capital from Sh250 million ($3.1 million) to Sh1 billion ($12.5 million) by 2010. This deadline has since been pushed to 2012. Foreign banks (Nigerian, South African and others) are investing in low-capital institutions.
After the profit growth of the first five years of the Kibaki administration, bank expansion has since crossed borders to Tanzania, Rwanda, Southern Sudan and Uganda. Local banks such as Equity, KCB and Cooperative are present in the region.
A significant development in banking has been the licensing of two Sharia-compliant commercial banks. First Community and Gulf African were licensed in 2007. Consequently, the sector had 45 institutions – 43 commercial banks, two mortgage finance companies – by the end of 2008. of the 45,33 were local and 12 foreign-owned.
In 2009, the banks’ total assets were worth Sh 1.37 trillion ($17.1 billion). Profit before tax was a whopping Sh48.7 billion ($608.7 million). The Kenya Commercial Bank is the biggest in Kenya, with assets worth Sh191 billion ($2.38 billion) in 2008. At the Nairobi Stock Exchange, banks and their holding companies are worth Sh270 billion ($3.375 billion).
List of Banks in Kenya
- African Banking Corporation Ltd.
- Bank of Africa Kenya Ltd.
- Bank of Baroda (K) Ltd.
- Bank of India
- Barclays Bank of Kenya Ltd.
- CFC Stanbic Bank Ltd.
- Charterhouse Bank Ltd
- Chase Bank (K) Ltd.
- Citibank N.A Kenya
- Commercial Bank of Africa Ltd.
- Consolidated Bank of Kenya Ltd.
- Co-operative Bank of Kenya Ltd.
- Credit Bank Ltd.
- Development Bank of Kenya Ltd.
- Diamond Trust Bank (K) Ltd.
- Dubai Bank Kenya Ltd.
- Ecobank Kenya Ltd
- Equatorial Commercial Bank Ltd.
- Equity Bank Ltd.
- Family Bank Ltd
- Fidelity Commercial Bank Ltd
- Fina Bank Ltd
- First community Bank Limited
- Giro Commercial Bank Ltd.
- Guardian Bank Ltd
- Gulf African Bank Limited
- Habib Bank A.G Zurich
- Habib Bank Ltd.
- Imperial Bank Ltd
- I & M Bank Ltd
- Jamii Bora Bank Ltd.
- Kenya Commercial Bank Ltd
- K-Rep Bank Ltd
- Middle East Bank (K) Ltd
- National Bank of Kenya Ltd
- NIC Bank Ltd
- Oriental Commercial Bank Ltd
- Paramount Universal Bank Ltd
- Prime Bank Ltd
- Standard Chartered Bank (K) Ltd
- Trans-National Bank Ltd
- Victoria Commercial Bank Ltd
- UBA Kenya Bank Ltd.
Mortgage Finance Institutions in Kenya
- Housing Finance Ltd