Banks with largest assets in Kenya 2024

In terms of assets, Kenya Commercial Bank (KCB) was the biggest bank operating in Kenya as of 2024. The institution registered an asset value of approximately 13.9 billion U.S. dollars. Equity Bank Group followed, with assets worth almost 12 billion U.S. dollars. Both institutions also led among banks with the largest level of tier 1 capital in the country.

Kenya’s banking landscape

In 2023, Kenya's largest bank was KCB Bank Kenya with a market share of just over 14 percent. This was followed by Equity Bank which had a share of more than 10 percent. Similarly, when considering Kenya’s largest banks in terms of value of deposits the same banks were at the top of the list. Furthermore, the rate of bank account penetration in 2020 was particularly high in Kenya compared to other African countries, with a penetration rate of 86 percent. 

African banking revenue soars

The estimated African banking revenue in 2022 was 129 billion U.S. dollars. This was considerably higher than the previous year. The countries with the largest banking industries in Africa in the form of capital were South Africa and Egypt ,respectively. Kenya ranked fifth on the list, however, its industry was far smaller than the above-mentioned countries.