Top 10 Banks In Kenya List 2013

Top 10 Banks In Kenya List 2013, KCB, Barclays, Cooperative, NBK, Equity 2013: The strengthening of the Kenyan economy for the last ten years due to a change in governance has seen a major transformation in the banking industry. Commercial banks and investment banks in Kenya have been opened up through out the country to provide financial services.

Top 10 Banks In Kenya List
In this article I am going to discuss Kenya’s leading banks.  The list of top banks in Kenya is based on customer base, savings, profits, number of branches and the awards the bank has earned in the recent years. The baking jobs in Kenya are the most admired jobs (don’t why) by university graduates in the country.
Most of the banks in Kenya have embraced the online community because of the developing interest in buying and selling goods online. Online Banking Services such as PayPal, MoneyBookers, Payoneer, Visa and other online payment solutions have given a reason for the bank managers to rethink of their strategy in taming on the online market. There are been a stiff competition in the Kenyan banking industry in order to serve an informed generation. Most of the best banks in Kenya have enhanced their strategies in targeting Kenyans in Diaspora because they are believed to send billions in the country to the banks in Kenya.   

Top Best Banks in Kenya 2013

Equity Bank Kenya

The emergence of equity bank Kenya saw a revolution in the banking sector in Kenya. Equity bank was the first bank to hold accounts for clients who were considered risky by other conventional banks due to their small ability to save and borrow loans. This saw equity open numerous accounts from small and medium scale businesses and people. Equity bank is the leading banks in terms of numbers of account held. Equity has been awarded the best micro-finance bank in Kenya and it is also Kenya’s leading bank. The bank has earned recognition world over for its transformation of the banking industry. The bank’s CEO, James Mwangi, has been recognized as the best CEO in Africa for transforming the banking sector in Kenya. 

Standard Chartered Bank Kenya 

Standard Chartered Bank Kenya has recorded tremendous growth over the years. The bank has seen an increase in client base which has in turn lead to an increase in pre tax profit for the last few years. Standard Chartered Bank offers attractive mortgage packages and has gained a countrywide outlook by opening branches in various parts of the world. In 2012, the bank offered its shareholders an opportunity to participate in the rights issue as it aimed at raising funds to expand its operations regionally. 

Barclay’s Bank Kenya 

Barclay’s bank Kenya has over the years recorded profits which has boosted confidence in potential investors and shareholders. The dividend ratio for the bank is also high which has attracted more investors to invest in the bank. The Barclay’s bank is highly valued and growing at a steady rate hence ranked one of Kenya’s top 10 banks.

Kenya Commercial Bank

KCB (Kenya Commercial Bank) is most reputable for its boldness in taking risks when in comes to advancing loans to clients. Unlike other banks, Kenya Commercial Bank has taken the initiative to offer a wide range of loans both personal and business loans. The bank advances fee, holiday, home and car loans. KCB has attractive dividends to it shareholders as it performs well in the Nairobi securities exchange. It is the oldest indigenous bank in Kenya. 
Diamond Trust Bank Kenya
DTB (Diamond Trust Bank Kenya) is Kenya’s leading bank in terms of asset quality. the bank records the lowest non performing loans ratio which is computed by the division of non performing loans over the total amount of loans advanced to clients. This means that the diamond trust bank has a low bad debt record since they advance their credit to creditworthy clients. 

Housing Finance Bank of Kenya

Housing Finance Bank of Kenya  is best known for its provision of mortgage facilities. It is reputable for offering clients with mortgage related services. The mortgage packages provided by the bank are affordable and have made it for thousands of Kenyans to own homes. The Kenyan government has made it possible for most Kenyans to access mortgage facilities through the bank. The housing finance bank provides clients with funds to either buy or build a home.   

CFC Stanbic Bank Kenya

CFC (CFC Stanbic Bank Kenya) in comparison with other banks has a smaller portion of clients. However, CFC Stanbic bankis the most valuable bank in the country. It lending trend is a bit conservative to ensure that it only lends to clients with the ability to pay back the loans.  

NIC Bank Kenya

NIC Bank Kenya prides itself for being the bank with the best financial reporting system having won a series of awards. NIC Bank is one of Kenya’s most highly values banks in terms of profitability and growth.  However, its dividend rate is much lower compared to other leading banks in the country. 

Cooperative Bank of Kenya

Cooperative bank of Kenya has national outlook. Its presence is evident in every part of the county especially with the recent development of agent banking dubbed coop kwa jirani. The Cooperative bank has a large client base especially because it has developed different types of accounts tailor made to suit different consumer needs. 

National Bank of Kenya

NBK (National Bank of Kenya) has operated in the banking sector for over four decades. The emergence of other banking institutions have slowed down the growth rate of the bank. However, the bank is among Kenya’s top 10 banks. The National bank has a range of accounts types and has embraced emerging technology in the delivery of it services.  
In conclusion, the top best banks in Kenya indicate that the banking sector provides a good investment opportunity for both Kenyans and foreigners. The country has over 50 different banks serving a banking population of about 15 million citizens for different reasons. University students in Kenya undertaking courses in commerce prefer doing their Internships in the banking sector, and probably in the best banks in Kenya.

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