Three Kenyan NSE Listed lenders performed relatively well in the 2016 rankings by recording positive Tier 1 capital growth. This is according to the 2016 ranking of The Banker Magazine, a publication of the Financial Times.
Equity Bank has been ranked as the fastest growing lender in Africa with a 29.87% growth and at position 835 globally. Cooperative Bank was the third fastest growing bank in Africa with a 10.94% growth while KCB came in at position 8 with a 2.24% growth.
Kenya Commercial Bank and Equity Bank both joined the continent’s Top 25 in 2016 which can be partly be attributed to the performance of the Kenyan shilling in 2015, which declined modestly against the US dollar relative to many other African currencies.
Tumbling commodity prices and volatile currency movements contributed to weak performance of most of the continent’s big lenders in 2015, making the exemplary performance by the above mentioned banks something to celebrate about.