Kenyan Listed Banking Sector Quarterly Earnings and Operating Metrics
Kenyan Banking Sector Overview
Kenya still remains overbanked as the number of banks remains relatively high compared to the
population
10.0x
9.0x
9.0x
8.0x
7.0x
6.0x
5.0x
4.0x
3.0x
2.0x
1.0x
0.0x
Kenya
6.9x
Cytonn Report: Commercial Banks / Per Population of 10 million People
5.6x
5.7x
South Africa
■2015 2022
•
The number of commercial banks in Kenya currently stands at 38, compared to 43 banks in FY'2015
1.0x
Nigeria
1.1x
•
The ratio of the number of banks per 10 million population in Kenya now stands at 6.9x, which is a reduction from 9.0x in
FY'2015, demonstrating continued consolidation of the banking sector. However, despite the ratio improving, Kenya still remains
overbanked as the number of banks remains relatively high compared to the population
Cytonn
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