Top 10 Banks in Kenya by Market Share

Kenya’s banking sector continues to demonstrate remarkable resilience and growth, with the top tier institutions commanding a significant portion of the market. According to the Central Bank of Kenya’s Bank Supervision Annual Report 2024, the top 10 banks control more than three-quarters of the market, underscoring their dominant influence on the country’s financial landscape.

1. KCB Bank Kenya Limited

KCB Bank Kenya Limited retained its position as the largest bank, holding a 16.6% market share and maintaining its leadership across multiple metrics. The institution boasts total net assets worth Ksh1.28 trillion and leads the sector with deposits of Ksh988.5 billion. KCB’s extensive reach is evident in its customer base, serving 53.6 million deposit accounts and 1.43 million loan accounts, both the highest in the industry.

2. Equity Bank Kenya Limited

Equity Bank holds the second position with a market share of 12.8% and total assets valued at Ksh1.03 trillion. The bank has established itself as a major player in Kenya’s financial sector, competing closely with KCB for market dominance.

3. Co-operative Bank of Kenya Limited

Co-operative Bank secures third place in the rankings, maintaining its position as one of the country’s most significant financial institutions and continuing to serve a large customer base across Kenya.

4. NCBA Bank Kenya PLC

NCBA Bank has established itself among the top tier banks, demonstrating steady growth and maintaining a strong presence in the Kenyan banking sector through innovative products and strategic partnerships.

5. Absa Bank Kenya PLC

Absa Bank Kenya continues to be a major force in the banking industry, leveraging its international backing and local expertise to serve both retail and corporate customers across the country.

6. Stanbic Bank Kenya Limited

Stanbic Bank Kenya Limited is sixth with a share of 5.7% and assets valued at Ksh445.2 billion. The bank has maintained consistent growth and recently appointed Dr. Joshua Oigara as Regional Chief Executive for East Africa.

7. I&M Bank Limited

I&M Bank follows closely in seventh place, holding a 5.6% market share with assets worth Ksh428.3 billion. The institution continues to expand its footprint in the East African region through strategic initiatives.

8. Standard Chartered Bank Kenya Limited

Standard Chartered Bank Kenya Limited is in eighth place, controlling 5.4% market rate and has Ksh385.2 billion assets. The bank maintains its reputation as a premier international banking institution operating in Kenya.

9. Diamond Trust Bank Kenya Limited

Diamond Trust Bank ranked ninth with a 5.2% market share and assets worth Ksh381.1 billion. The bank has shown consistent performance and continues to strengthen its position in the market.

10. Prime Bank Limited

Prime Bank Limited ranked 10th, holding a 2.9% market share and total assets valued at Ksh188.8 billion. As the largest Tier II bank, Prime Bank has demonstrated impressive growth, posting a 23% increase in net profit for H1 2025.

Market Concentration

The dominance of these top 10 banks is significant. According to the CBK report, these institutions account for 75.6% of total assets, 75.5% of deposits, and 75% of shareholders’ funds in the banking sector. This concentration gives them considerable influence over lending trends, interest rates, and financial innovation in Kenya.

The banking sector comprises 39 institutions, with 20 locally owned, 17 foreign-owned, and two majority-owned by the Government of Kenya. The sector continues to evolve through digital transformation, with mobile banking services gaining widespread adoption, and ongoing consolidation activities as banks adapt to higher minimum capital requirements and changing market dynamics.