Kenya Commercial Bank (KCB) has surpassed Equity Bank to become the country’s largest lender by asset size.
According to regulatory documents, KCB’s total assets in the fiscal year ending December 2022 were Ksh1.55 trillion, while Equity’s total assets were Ksh1.44 trillion.
Equity outperformed its Kenyan rivals, including KCB, in the year ended December 2022, with a profit before tax of Ksh59.8 billion, over KCB’s Ksh57.3 billion.
According to regulatory filings, KCB’s customer deposits were Ksh1.14 trillion, while Equity’s were Ksh1.05 trillion.
The only two Kenyan banks with more than a trillion shillings in customer deposits are KCB Group and Equity Group.
The gap is even wider in net customer loans with KCB leading the pack with Ksh863 billion, equivalent to Ksh156 billion more than Equity’s Ksh706 billion loan book.
KCB’s shareholder funds stood at Ksh200 billion ahead of Equity’s Ksh182 billion.
KCB also has the largest branch network in the region at 603 branches in the region in 2022, which is almost double the footprint Equity reported of 337 in 2021.
KCB is also the largest employer in the banking sector with over 11,000 employees across the region.
KCB Bank Kenya’s total assets stood at Ksh971 billion ahead of Equity’s Ksh894 billion, while revenue stood at Ksh93 billion ahead of Equity’s Ksh86 billion.
