The number of bank branches increased from 1,475 in 2022, to 1,511 in 2023, which translates to an increase of 36 branches (2.4 percent).
Nairobi County registered the highest increase in the number of branches by 15 branches.
A total of 21 counties registered an increase of 41 bank branches while 5 counties registered a decrease of 5 bank branches.
In 21 counties, there was no change in bank branches.
The increase in bank branches is mainly attributed to opening of new branches by some commercial banks in emerging and new growth areas.
The Kenyan commercial banks are classified into three peer groups using a weighted composite index.
The index comprises net assets, total deposits, capital and reserves, number of deposit accounts and number of loan accounts.
