KCB Group has been ranked at position 717 in The Banker’s Top 1000 World Banks ranking for 2019, emerging 21 in Africa and number 1 in Eastern Africa, out of close to 2000 financial institutions that were analyzed based on 2018 full-year financial results.
The ranking, which tracks the health and wealth of the global banking sector, saw the bank climb nearly 100 places up from position 809 in the previous year to position 717, emerging Africa’s highest mover in the ranking.
According to the group’s half-year results, KCB Group posted a 5% growth in after-tax profit to KSh12.7 billion for the first half of 2019 ending June, up from KSh12.1 billion. The Group’s balance sheet increased by 12% to KSh746.5 billion, with deposits up 7% to KSh563.2 billion. The loan book rose 14% to KShs. 478.7 billion.
KCB’s improved ranking is attributed to the Bank’s strong capital base which is well within both internal and regulatory limits, solid business performance and a well-established corporate and retail franchise.
The survey ranks the largest bank holding companies based on Tier 1 capital, and includes data on more than $123 trillion of assets in 94 countries.