KCB Group Ranked Top Bank in East Africa and the Safest in Kenya

KCB Ranked Top Bank In East Africa

Kenya’s biggest bank group KCB has been ranked position 667 globally in The Banker’s  1000 World Banks ranking for 2020.

This is an improvement of  40 places from position 717 last year in the ranking which tracks the health and wealth of the global banking sector. 

In 2018, KCB was ranked 809.

The lender was rated number 1 in Eastern Africa and emerged in the top 10 among African banks in key parameters such as liquidity (10), growth (3), profitability (9), operational efficiency (8) and soundness (10).

The survey analyzed close to 2,000 financial institutions globally, based on 2019 full-year financial results.

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.

“We remain steadfast in strengthening our socio-economic contribution to the East African region and beyond and our commitment to creating value in the economies in which we operate. The core of our business lays in driving innovation while leveraging on technology in how we do business and support our stakeholders,” said KCB Group CEO and MD Joshua Oigara.

The Banker said while the 2020 ranking shows stabilization in the finances of the majority of African major lenders, the COVID-19 pandemic has hit Banks significantly and will take a toll on lenders in key African markets, such as South Africa and Nigeria through the coming year.

The ranking includes data on more than $123 trillion of assets in 94 countries. Beyond Tier 1 Capital, it also includes additional data points such as Pre-Tax Profit, total Assets and key ratios including, Capital to Assets Ratio, Return on Capital, Return on Assets, NPL, Loans to Assets, and Cost to Income to provide an overall view of their soundness, profitability, asset quality and operational efficiency.

In the full year 2019, KCB reported growth in their assets and capital position.

In addition to this recognition, the Bank has also been named the Safest Bank in Kenya by Global Finance in the 29th annual World’s Safest Banks rankings.

The Bank was recognized amongst 14 African banks in the list that consisted of banks from 112 countries globally. KCB was the only Kenyan Bank on the roll.

Global Finance’s annual rankings of the World’s Safest Banks has been the recognized and trusted standard of financial counterparty safety for more than a quarter-century.

The Safest Banks by Country were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—and the total assets of the 1000 largest banks worldwide.

In May, the Bank was ranked position two out of 66 organizations globally, by the Prestigious ATD Best award for showing support to its employees and nurturing a conducive working environment for them to achieve both the organization’s goals and their personal life goals.

The Bank was also recognized as the Best Bank and Best Investment Bank by Global Finance awards 2020.