In this article, you will find a list of all tier1 banks in Kenya.
Out of all over 40 banks in Kenya, there are three main categories; Tier 1, Tier 2, and Tier 3. Tier one banks are the banks considered most safe by the Central of Kenya. This is due to their net assets, customer deposits, loans, reserves, and deposit accounts. Tier banks have an index of between one to five percent.
Tier 1 Banks in Kenya
1.     Equity Bank
Equity Group Holdings Limited restructured in 2014 to incorporate Equity Bank. Equity bank has made at the top of tier 1 banks due to developments like; Eazzy Banking App and Equitel. Currently, Equity holds the position of the 2nd biggest mobile transfer service provider.  Equity bank’s head office is located in Upper Hill, Equity Center, along Hospital Road.
2.     Kenya Commercial Bank
Kenya Commercial Bank, also known as KCB, is one of the oldest and the largest banks in Kenya. The bank was established in 1896. The bank made it to the top tier 1 banks due to their products like KCB Mpesa. KCB Mpesa is one of the best mobile banking services which also enable users to acquire loans and save money. Â KCB is also one of the best banks in Kenya to offer agency banking and mobile banking. Their headquarter office is found in Nairobi, KCB Building.
3.     Absa Bank Kenya
Absa Bank, formerly known as Barclays bank, started its operations in Kenya about 100 years ago. Ever since the bank has been to serve Kenyan better. Absa bank has great financial strength from both local and international resources. Â Â Â The bank has over 200 ATMs all over the country. The bank offers mobile banking and internet banking. These two services are one of the reasons why Absa bank is a tier 1. Absa Bank has an asset base of over Ksh. 374.109 billion. The headquarters is located in Absa Westend Building off Waiyakai Way.
4.       Cooperative Bank
The cooperative bank was founded in 1965. The ban is one of the largest commercial banks in East Africa. The cooperative bank made it to the tier 1 bank category due to its clientele base of 7.9 million accounts in Kenya only, its Agency banking model, and an asset base of over Ksh 404.1 billion.
5.     Standard Chartered Bank
Standard Chartered Bank Kenya, also known as Stanchart Kenya, became licensed to start banking action in 1910. The bank is approved by the Central Bank of Kenya and the national banking regulator to have its operations not only in Kenya but across East Africa. In 2013, Standard Chartered Kenya was the 4th largest commercial bank in Kenya with an asset base of over Ksh.220.39 billion excluding the shareholder’s equity. The bank has online banking services and allows international payments.
6.     NCBA Bank Kenya
NCBA Bank is a subsidiary of NCBA Group Plc. The bank traces its roots bank to 1959 through its parent company, NIC. In 2019, the bank’s assets were summing up to Ksh 487.8 billion. The bank was the third-largest bank in Kenya by then.  The merger between NIC Bank and Commercial Bank of Africa is one of the main reasons why NCBA Bank is a top tier 1 bank in Kenya.
7.     DTB Bank
Diamond Trust Bank (DTB) was founded in 1945. DTB operates in Kenya, Uganda, Tanzania, and Burundi. DTB made it to the top 10 tier 1 banks in Kenya mainly because of its strong financial backing from its partners like Habib Bank and Aga Khan Fund for Economic Development. The bank is on the top in asset quality with a gross NPL ratio of 4.6 percent. The industry average is 11.5 percent.
8.     Stanbic Bank
Stanbic Bank was established in 2008 after a merger between CFC Bank Limited and Stanbic Bank Kenya Limited. The bank’s total assets are Ksh. 180.5 billion and shareholders equity of Ksh. 32.4 billion. Stanbic bank partnered with SimbaPay to allow their customers to transact internationally. The bank also provides mobile banking app services. The bank’s investment together with its assets and products are the reasons why Stanbic Bank is a tier 1 bank in Kenya.
9.     I & M Holdings
I & M Holdings traces its roots back to Investments & Mortgages Limited. The company started its banking operations in 1980. 1n 2019, I & M Holdings was ranked as the 8th largest commercial bank n Kenya with an asset base of Ksh. 261 billion and shareholders equity of over Ksh. 44 billion. Â I & M Holdings became a tier 1 bank after it took over Giro Bank. The Banks geographical diversification is also a key driver to becoming a tier 1 bank. I & M Holdings operates across East Africa.
With several tier 1 banks to choose from, Kenyans can bank with any holdings they feel most confident in. For more information on Kenya’s banking industry, follow Bizna Kenya.
