Thursday, April 03, 2008

Kenya Bank Rankings for 2007

the basics

Barclays Kenya 157,928 [i.e. 158 billion shillings, ~ $2.43 billion]
Kenya Commercial 112,211
Standard Chartered 91,252
Cooperative 65,697
Equity 53,129
Citibank Kenya 47,301
National Bank of Kenya 41,414
Commercial Bank of Africa 39,509
Stanbic 34,464 *
NIC 31,396
Diamond Trust 30,313 [30.3 billion, ~$466 million]
Investment & Mortgages 29420
CFC 28,020 *
Baroda 14,709
Prime 13,862
Imperial 11,723
Housing Finance 10,414
Bank of India 10,344
EABS 9,452
Family Finance 8,569 [8.6 billion, ~$132 million]
Fina 8,089
Bank of Africa 7,657
K-Rep 7,039
Habib AG Zurich 6,206
ABC 6,143
Chase 5,754
Giro 5,611
Guardian 5,540
Southern Credit 5,306
Equatorial 4,879
Development Bank of Kenya 4,708 (4.7 billion shillings, $72 million)
Victoria 4,131
Consolidated 4,109
Habib Bank 3,845
Credit 3,358
Transnational 3,221
Fidelity 3,192
Middle East 3,097
Paramount Universal 2367
Oriental 1,695
edit Dubai 1,544
City Finance 744 million shillings (~$11 million)

Profit before tax
Barclays 7,079 million (i.e. 7 billion shillings, ~$109 million)
Standard Chartered 4,897
Kenya Commercial 3,863
Equity 2,364
Cooperative 2,287

Barclays 109,097 million [i.e. 109 billion, ~$1.68 billion]
Kenya Commercial 85,638
Standard Chartered 73,841
Cooperative 54,775
National Bank of Kenya 34,722

Barclays 105,346 million [i.e. 105 billion, ~$1.62 billion]
Kenya Commercial 56,477
Standard Chartered 39,469
Cooperative 34,832
NIC 22,209

Source: from audited accounts for 2007
- * CFC and Stanbic merger not finalized
- Missing from the list are Gulf African, and First Family – which as Shariah Banks are treated differently, and Charterhouse and Dubaibanks


inspectordanger said...

Interesting. Equity bank is in top five in terms of assets and profit before tax. Conspicuously it is, missing in the top five in terms of loan and deposit which makes sense. The question is, what is generating for them the profits that makes them the 4th in terms of profit making? Could it be commission?

coldtusker said...

Equity recently got a huge infusion of capital (11bn) which automatically boosts them above several banks in assets.

They can then lend those funds out.

Yes, they make lots of profits on non-interest income. Also their interest rates (WAIR) are higher than most banks thus they make more on less.

Anonymous said...

what happened to Dubai bank?

MainaT said...

I wonder when I&M will do their IPO?
Equity has a cost/income ratio that is almost as good as if not better than the most effecient of these large banks.
More importantly, Equity has many customers (2m+) which equate to large transaction volumes. In Kenya banking, transactions=commissions.

Anonymous said...

CFC-Stanbic Merger has been approved by the SA reserve bank...

bankelele said...

inspectordanger: They just missed the top 5 - Equity deposits are 31.5b (7th) and loans 21.9b (6th)

Coldtusker: Helios very quiet, but they dont take part in the 2007 dividends

Anon: Dubai bank were late. They published today 4th April

MainaT: How much of I&M does City Trust own? I'll put up effeciency tables next

Anon: please link CFC-Stanbic approval

coldtusker said...

Banks - Helios got into Equity on the basis they do not interfere.

Only 4 of the top 12 are not public excluding Stanbic which will merge with CFC Bank.

Co-op will go public in 2008-9.
CBA is a kenyatta bank. It has grown by leaps & bounds.
I&M Bank - no idea but say 2-3 years?
Citibank (K) is unlikely to go public UNLESS the parent wants to pull some cash from the business.

Mashatall said...

Is BBK having liquidity problems? yaani they cannot even lend out some loans for Safcom IPO? Someone please shed some light.

Anonymous said...

Have a couple of questions
1. inflation is rising and currency is strengthening. aint that abnormal
2. kenya is not an island. food prices are risisng worldwide and govt of kenya is sitting on its hands.
3. with currency rising will the horticulture industry start moving to supply local markets is it time for large scale agric ?

stewie said...

Refering to the question one, I think there is a misconception that our currency is strengthening based on the weakening of the US dollar. If you check it's value against other currencies such as that of the Britons you'll find that it is actually losing ground. This is, I believe, especially because of the rapid increase in the inflation rate, occassion by the unfortunate post-election violence, to record highs of the lower 20's. You can check on that from the National Bureau of Statistics webpage

stewie said...

Hey, just a quick clarification on my comment above...
I meant to say our currency appears to be strenghtening yet it is actually stabilising after the effects of the post-election violence. It was doing very well right before January but depreciated drastically from January and is now recovering as major currencies depreciate!


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