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KCB ranked 667 globally, top in East Africa

Lender climbed up 40 places in The Banker’s Top 1000 World Banks ranking for 2020

In Summary
  • The performance is an improvement from position 717 last year in the ranking which tracks the health and wealth of the global banking sector.
  • The survey analyzed close to 2,000 financial institutions globally, based on 2019 full year financial results.
Customers queue inside a KCB branch in Nairobi. /FILE
Customers queue inside a KCB branch in Nairobi. /FILE

KCB Group has been ranked 667 globally in The Banker’s Top 1000 World Banks ranking for 2020.

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

KCB was rated number one in Eastern Africa and emerged in the top 10 among African banks in key parameters like liquidity, growth, profitability, operational efficiency and soundness.

 

The survey analysed 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,” said KCB Group CEO and MD Joshua Oigara.

The Banker said while the 2020 ranking shows a stabilisation in the finances of the majority of African major lenders, the COVID-19 pandemic has hit banks significantly and will take toll on lenders in key African markets,through the coming year.

The ranking includes data on more than $123 trillion of assets in 94 countries.

In the full year 2019, KCB reported growth in their assets and capital position  despite tough conditions in almost all the seven markets it operates in.

In the half year 2020 financials, KCB’s total assets grew by 28 per cent to Sh953.1 billion, net loans and advances grew 17 per cent to close the period at Sh559.9 billion.

 
 

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.