Kenya Commercial Bank(KCB), with a capital base of US$ 1,201 Million and a Balance sheet size worth US$ 8,866 Million at the end of 2019, has been listed at number 25 among the top 100 Banks in Africa in 2020.
This is according to rankings by the prestigious Africa Business Magazine, October 2020 edition. African Business is an African business magazine published by London-based IC Publications.
KCB, previously at position 29 in 2019 rankings, remains Kenya’s most profitable lender with one of the largest local and regional networks.
Equity Bank Group was ranked at position 27 from the previous 54 in 2019. Equity was capitalized at US$ 1,103 Million with Assets worth US$ 6647 Million and Profits of US223 Million compared to US$ 248 Million made by KCB.
NCBA is ranked at position 40 from the previous 84th in 2019. At the end of December 2019, this lender was capitalized at US$ 664 Million, a balance sheet size of US$ 4881 Million and a profit of US$ 77 Million.
Co-operative Bank of Kenya has dropped to position 42 from the previous 39 in 2019. At the end of last year, the lender was capitalized at US$ 650 Million, a balance sheet size of US$4,509 Million and a profit of US$141 Million.
Diamond Trust Bank (DTB) Kenya is ranked at 43 in 2020 from the previous 47. It was capitalized at US$ 569 Million, with a balance sheet size of US$ 3,810 Million and a profit of US$72 Million.
South Africa’s Standard Bank Group has retained its top position in 2020 rankings, the same as 2019. It is followed by Absa Bank and FirstRand-all South African banks. Standard Bank Group was capitalized at $11,090 Million with a balance sheet worth US$ 161,875 Million and made a profit of US$ 2,184 Million at the end of December 2019.
South African banks dominate the first three position with National Bank of Egypt in 4th position, Nedbank Group(South Africa), Attijariwafa Bank( Morocco), Banque Centrale Populaire(Morocco), Banque Nationale d’Algerie(Algeria) Banque Exterieure d’ Algerie(Algeria) and BMCE Bank Group(Morocco) closing at 10th position of Africa top banks in 2020.
ALSO READ:South Africa Dominates List of Largest Companies in Africa
