Best Banks in Kenya 2020:The Co-operative Bank has been ranked as the second best bank in Kenya in the first quarter of 2020. This was an improvement from the overall position three that the bank got in the full year 2019 market analysis by investment firm Cytonn Investments.
“Kenya’s banking sector showed resilient performance despite the tough operating environment which was largely attributable to persistent revenue diversification,” said Cytonn in the market report that was prepared by the Cytonn Financial Services Research Team for the first quarter of this year.
“Co-operative Bank of Kenya’s rank improved to Position 2 from Position 3 in FY’2019 mainly due to an improvement in the Gross Non Performing Loans ratio to 10.8 per cent in Quarter one of 2020 from 11.2 per cent in Full Year 2019, in turn, improving its franchise value score,” the report said.
Co-op Bank restructures Sh. 15 billion loans, repayment periods, interest
The report has also carried out a comprehensive ranking of the listed banks on the basis of franchise value and also on future growth opportunity.
Despite the slow down in the economy and the banking sector as a result of the coronavirus pandemic, in the first quarter of this year, Co-op Bank posted a profit after tax of Sh. 3.6 billion. This profit came even as profit before tax stood at Sh. 5.1 billion in the first quarter, same as the profit before tax that the bank recorded in the same period the previous year.
So far, the Co-operative Bank has restructured loans worth Sh. 15 billion in a bid to help customers cope with the effects of the coronavirus pandemic has that has left global economies on their knees. “The bank has proactively engaged all the customers requiring an interest moratorium period, customers requiring a better structure or longer repayment period, and customers requiring additional funding to manage the coronavirus crisis,” said Co-op Bank in a statement.
Below is the table showing the ranking of the Best Banks in Kenya 2020:
| Bank | Franchise Value Score | Intrinsic Value Score | Weighted Score | Q1’2020 Rank | FY’2019 Ranking |
| I&M Holdings | 51 | 2 | 21.6 | 1 | 2 |
| Co-operative Bank of Kenya Ltd | 49 | 4 | 22 | 2 | 3 |
| KCB Group Plc | 56 | 3 | 24.2 | 3 | 1 |
| Equity Group Holdings Ltd | 60 | 5 | 27 | 4 | 4 |
| DTBK | 67 | 1 | 27.4 | 5 | 5 |
| ABSA | 62 | 8 | 29.6 | 6 | 7 |
| Stanbic Bank/Holdings | 65 | 6 | 29.6 | 7 | 6 |
| SCBK | 75 | 9 | 35.4 | 8 | 9 |
| NCBA Group Plc | 83 | 7 | 37.4 | 9 | 8 |
| HF Group Plc | 92 | 10 | 42.8 | 10 | 10 |