1. Safaricom: Sh819 billion
As the largest telecommunications provider in Kenya, Safaricom commands a dominant position in both mobile network services and digital financial solutions. Since its inception in 1997, the company has amassed a subscriber base exceeding 47 million. Safaricom’s mobile money service, M-Pesa, is widely regarded as a global pioneer, processing billions of transactions annually. In addition to mobile and data offerings, the firm provides enterprise and digital financial services such as M-Shwari and Fuliza.
2. Equity Bank: Sh160 billion
Equity Bank, a major commercial bank within Equity Group Holdings, has grown from a building society into a financial powerhouse with extensive reach. Founded in 1984, the bank emphasizes serving previously underserved communities through retail banking, SME financing, digital platforms like Equitel, and insurance products. Its network includes more than 200 branches across Kenya and regional operations in East and Central Africa.
3. KCB Bank: Sh139 billion
Founded in 1896, KCB Group is one of East Africa’s oldest banks, with a client base that surpasses 30 million customers. Its service portfolio ranges from retail and corporate banking to investment and insurance products, including mobile banking options such as KCB M-Pesa. KCB has a broad regional footprint extending to Tanzania, Uganda, Rwanda, Burundi, and South Sudan. The bank, listed on the NSE, continues to invest heavily in digital technologies, green financing, and regional acquisitions to bolster its market share.
Read: 10 Commercial Banks with the Lowest Lending Rates in Kenya
4. East African Breweries Limited (EABL): Sh137 billion
Operating since 1922, EABL holds the leading position in East Africa’s alcoholic beverage sector. The company produces a variety of popular brands including Tusker, Guinness, Johnnie Walker, and Smirnoff, and distributes these across Kenya, Uganda, and Tanzania. Its product line also features non-alcoholic options like Malta Guinness. As a subsidiary of Diageo and an NSE-listed firm, EABL maintains strong brand loyalty and continues to prioritize premium brand development, sustainable packaging innovations, and wider distribution.
5. Standard Chartered Bank Kenya (StanChart): Sh101 billion
Standard Chartered Bank Kenya, part of the UK-based Standard Chartered PLC, has been operating locally since 1911. It caters mainly to corporate clients, investors, and affluent individuals through services that include wealth management, trade finance, and digital banking. Though it serves a smaller customer base compared to some local banks, StanChart is positioned as a premium banking institution on the NSE.
Read: What Are the Most Profitable Banks in Africa?
6. ABSA Bank Kenya: Sh99 billion
Previously known as Barclays Bank Kenya, ABSA Bank rebranded in 2019 after joining the South African Absa Group. With a history dating back to 1916, ABSA provides a wide range of services, including retail banking, SME and corporate lending, wealth management, and digital platforms like Timiza. The bank competes in Kenya’s mid-to-upper tier banking sector and is listed on the NSE.
7. Co-operative Bank of Kenya (Co-op Bank): Sh91 billion
Co-op Bank has strong historical ties to Kenya’s cooperative movement since its founding in 1965. It serves over 9 million customers with services spanning retail and corporate banking, mobile money via M-Co-op Cash, insurance, and investment solutions. Listed on the NSE, the bank boasts a branch network exceeding 150 locations and focuses heavily on SME support.
8. NCBA Bank: Sh90.5 billion
Formed through the 2019 merger of NIC Bank and Commercial Bank of Africa, NCBA Bank is one of the fastest-growing institutions in Kenya’s banking sector. The bank offers comprehensive retail, corporate, and digital banking services, leveraging mobile platforms like M-Shwari in partnership with Safaricom.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.