Kenya’s banking sector remains one of the most advanced in East Africa, powered by well-capitalized and efficiently managed institutions. The Central Bank of Kenya (CBK) reports that the country has 39 licensed commercial banks as of 2025.
These banks are divided into three tiers based on a weighted composite index that includes total assets, deposits, capital reserves, and the number of accounts. Tier 1 banks dominate the market with 75.6 percent of total assets, Tier 2 banks hold 16.7 percent, while smaller Tier 3 banks control 7.7 percent.
Below is a detailed look at the largest commercial banks in Kenya by asset base using data from CBK’s 2024 Bank Supervision Annual Report.
Leading Banks by Asset Base in Kenya
Kenya’s largest commercial banks hold trillions of shillings in assets, serving millions of customers both locally and across the region. Tier 1 banks are the financial backbone of Kenya’s economy, supporting businesses, individuals, and the government.
Here is a summary of the top nine large banks:
| Bank | Market Size Index (%) | Total Assets (Ksh Million) |
|---|---|---|
| KCB Bank Kenya Limited | 16.6 | 1,277,767 |
| Equity Bank Kenya Ltd | 12.8 | 1,027,680 |
| Co-operative Bank of Kenya Ltd | 9.6 | 687,823 |
| NCBA Bank Kenya PLC | 8.3 | 588,703 |
| Absa Bank Kenya PLC | 6.6 | 506,129 |
| Stanbic Bank Kenya Ltd | 5.7 | 445,248 |
| I&M Bank Limited | 5.4 | 414,873 |
| Standard Chartered Bank (K) Ltd | 5.4 | 385,206 |
| Diamond Trust Bank Kenya Limited | 5.2 | 381,137 |
KCB Bank leads the pack, followed closely by Equity Bank and Co-operative Bank. These three hold over 35 percent of the country’s total banking assets combined. Their strong digital platforms, regional expansion, and diversified services continue to fuel growth.
Medium-Sized Banks Strengthening Their Position
Tier 2 banks, though smaller, play a vital role in supporting small and medium enterprises (SMEs) and expanding credit access across Kenya. They have a market share ranging between 1 and 5 percent.
| Bank | Market Size Index (%) | Total Assets (Ksh Million) |
|---|---|---|
| Prime Bank Ltd | 2.9 | 188,807 |
| Bank of Baroda (Kenya) Limited | 2.7 | 200,538 |
| Citibank N.A. Kenya | 2.6 | 171,822 |
| Family Bank Ltd | 2.1 | 168,414 |
| National Bank of Kenya Ltd | 1.6 | 148,255 |
| Bank of India | 1.6 | 90,543 |
| Ecobank Kenya Ltd | 1.1 | 102,634 |
| SBM Bank Kenya Ltd | 1.1 | 101,385 |
| HFC Ltd | 1.0 | 67,561 |
Prime Bank and Bank of Baroda top this group, both maintaining steady asset growth and profitability. Family Bank’s steady expansion in retail banking also signals strong future potential.
Small Banks Carving Their Space
Tier 3 banks may have smaller asset bases, but they serve crucial niches, including Islamic banking and small business lending. They operate under tight regulations to ensure stability and protect depositors.
| Bank | Market Size Index (%) | Total Assets (Ksh Million) |
|---|---|---|
| Victoria Commercial Bank Limited | 0.8 | 64,953 |
| Sidian Bank Ltd | 0.7 | 60,020 |
| Gulf African Bank | 0.6 | 44,916 |
| Bank of Africa Ltd | 0.6 | 54,037 |
| Guaranty Trust Bank | 0.6 | 34,058 |
| African Banking Corporation Ltd | 0.6 | 50,089 |
| Habib Bank AG Zurich | 0.5 | 37,853 |
| DIB Bank Kenya Ltd | 0.4 | 28,848 |
| Kingdom Bank Limited | 0.4 | 41,186 |
| Premier Bank | 0.3 | 25,060 |
While smaller in size, banks like Victoria Commercial Bank and Sidian Bank continue to expand through digital solutions and targeted customer service.
The Future of Kenya’s Banking Sector
The dominance of Tier 1 banks shows Kenya’s strong financial structure. However, Tier 2 and Tier 3 banks remain vital in promoting financial inclusion and competition. With ongoing digital transformation, more banks are integrating fintech to reach unbanked populations and improve customer experience.
In the coming years, mergers and strategic partnerships are likely to shape the future of banking in Kenya. Institutions that adapt to digital trends and manage assets efficiently will continue to lead the industry.
