List of all tier 2 banks in Kenya

While tier 1 banks in Kenya have 50% of the market share, tier 2 banks control approximately 40% of the market.

Picture/Kenya Broadcasting Corporation

List of all tier 2 banks in Kenya

Fresh in the minds of Kenyans is the dramatic fall of Chase Bank in 2016 which sent scores of customers into a withdrawal frenzy.

Following the receivership of several banks over the years, Kenya’s banking regulator CBK devised stringent measures to avert the collapse of banks.

The Central Bank of Kenya grouped banks into 3 tiers, 1 to 3 with respect to a bank’s asset base, and market share, among other factors.

While tier 1 banks in Kenya have 50% of the market share, tier 2 banks control approximately 40% of the market. The following are the tier 2 banks in Kenya;

 

 

1. Diamond Trust Bank Group (DTB)

    1. Diamond Trust Bank Group is a Kenyan bank that was founded in 1945.
    2. The bank has enjoyed decades of growth that has seen it begin operations in the following countries;
        1.  Burundi
        2. Tanzania
        3. Uganda
    3. DTB is majority owned by the Aga Khan Fund for Economic Development.
    4. Headquartered along Nairobi’s Mombasa Road the bank deals with both corporate and individual clients.
    5. The bank has also been registered by the Nairobi Securities Exchange since 1972.
    6. Diamond Trust Bank offers the following services;
        1. Fixed deposits
        2. Salary Accounts
        3. Diaspora banking
        4. Mortgage
        5. Leasing
        6. Insurance premium financing
        7. Overdraft facilities
        8. Term loans
    7. Click here to download the Diamond Trust Bank Android Mobile App.
    8. Click here to download the Diamond Trust Bank iOS Mobile App.

 

 

Also read: List of all international banks in Kenya

 

 

 

Picture/Kenya Broadcasting Corporation

 

 

2. I&M Bank Kenya

    1. I&M Bank Kenya Limited is a commercial bank based in Kenya, the largest economy in the East African Community.
    2. I&M Bank is licensed by the Central Bank of Kenya which is Kenya’s banking regulator.
    3. I&M Bank has operations in the following countries through its subsidiaries;
        1. Rwanda
        2. Tanzania
        3. Uganda
        4. Mauritius
    4. It was incorporated on 16th August 1950 and is one of the oldest companies to list on the Nairobi Securities Exchange (NSE).
    5. The bank currently has an asset base of Ksh. 429 billion and offers the following services in its 83 branches countrywide;
          1. Individual banking
          2. Corporate banking
          3. Insurance services
          4. Loans and advances
    6. Click here to download the I&M Bank Kenya App on Google Play Store.

 

 

I&M Bank Towers. Picture/Kenyan Wallstreet

 

 

3. Guaranty Trust Bank

    1. Guaranty Trust Bank (Kenya) Ltd, commonly referred to as GTBank Kenya, is a registered commercial bank in Kenya.
    2. This is a subsidiary of the n Guaranty Trust Bank PLC which is based in Nigeria.
    3. The Nigerian bank is a tier 2 bank in Kenya that offers a wide range of services to its customers.
    4. Apart from Kenya, the bank has operations in the following countries;
        1. Uganda
        2. Rwanda
        3. South Africa
    5. Guaranty Trust Bank (Kenya) Ltd offers the following services;
        1. Commercial and corporate banking
        2. Personal Banking
        3. SME banking
    6. Click here to download the Guaranty Trust Bank Android App on Google Play Store.

 

 

4. Ecobank

    1. Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking conglomerate.
    2. The bank has banking operations in 33 African countries.
    3. Ecobank Transnational is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.
    4. Ecobank Kenya (EKE) had an asset base of Ksh. 94.4 billion as of 31st December 2020.
    5. The bank currently has 16 branches, 29 ATMs, and over 40 Xpress Point Agents located in different parts of Kenya.
    6. Ecobank Kenya offers individual consumer banking, corporate, and investment banking.
    7. Click here to download the Ecobank Kenya App on Google Play Store.

 

 

Picture/Courtesy

 

 

5. Bank of Baroda

    1. Bank of Baroda is a central public sector bank under the ownership of the Ministry of Finance, Government of India.
    2. The bank is headquartered in Vadodara, Gujarat in India.
    3. The parent Bank has an International presence in 94 overseas offices spanning 17 countries including Kenya.
    4. Registered as a commercial bank in Kenya, the Bank of Baroda provides both personal and corporate banking services.
    5. It has a mobile banking platform, Baroda Mobi Kenya which is an App on the Google Play Store.
    6. Click here to download the Baroda Mobi Kenya App on Google Play Store.

 

 

Also read: List of all tier 1 banks in Kenya

 

 

6. Bank of India

    1. The Bank of India is a foreign financial service provider that is based in  Bandra Kurla Complex, Mumbai.
    2. The bank has been operating in Kenya since 1953 when it opened its first branch in Mombasa.
    3. A Nairobi branch was opened in 1954. The Bank has also been modifying its corporate identity over the years to maintain the spirit of modernization.
    4. The colors of Bank Of India’s Star have changed colors to Blue, Russet, and Ochre, which has enhanced the visual appeal of the logo.
    5. Registered as a commercial bank by the Central Bank of Kenya, it offers the following services;
        1. Loans and advances
        2. Safe deposit
        3. Savings account
        4. Fixed deposit account
        5. Current account

 

 

Picture/Courtesy

 

 

7. Family Bank 

    1. Family Bank is a commercial bank in Kenya registered and licensed by the Central Bank of Kenya.
    2. Founded in 1984, Family Bank controls 41% of the market alongside tier 2 banks in Kenya.
    3. Family Bank offers financial services that include;
        1. Personal current account
        2. Salary account
        3. Savings account
        4. Investments
        5. Personal loan
        6. Salary advance
        7. Mortgages and plot loans
    4. Family Bank services are digitized, complete with a PesaPap mobile banking platform.
    5. Click here to download the Family Bank Android Mobile App.
    6. Click here to download the Family Bank iOS Mobile App.

 

 

8. Citibank Kenya

    1. Citibank is an American bank that has operated in Kenya since 1974 with its main branches located in Nairobi and Mombasa.
    2. Citibank Kenya serves as a regional hub of the Citi East Africa cluster which includes Kenya, Uganda, Tanzania, and Zambia.
    3. Unlike many commercial banks in Kenya that serve both individuals and corporate customers, Citibank only serves corporate and institutional clients.
    4. Citibank was founded in 1812 as the City Bank of New York and it is headquartered in New York City, USA.
    5. Click here to access the Citibank Kenya online banking platform.

 

 

Picture/Citibank Kenya

 

 

9. National Bank

    1. National Bank of Kenya, also known as National Bank, is a commercial bank in Kenya.
    2. The bank is registered and regulated by the Central Bank of Kenya.
    3. The National Bank of Kenya is one of the best stable banks in Kenya.
    4. It offers a range of banking services like accounts, loans, insurance, investments, debit & credit.
    5. The financial services are available for individual, corporate, and diaspora clients.
    6. National Bank has specially-tailored products for businesses, especially small business owners.
    7. The products include;
        1. Jenga Biashara Loan
        2. SME current account
        3. Jenga Chama Loan
        4. Small enterprise bank
    8. National Bank of Kenya currently has 85 branches and over 1500 ATMS countrywide, as well as over 1500 employees.
    9. Click here to download the National Bank Android Mobile App.

 

 

 

10. Housing Finance

    1. Housing Finance is a commercial bank in Kenya regulated by the Central Bank of Kenya.
    2. Founded in 1965, Housing Finance offers the following services;
        1. Personal Banking
        2. SME banking
        3. Property financing
        4. Insurance
        5. Mortgage
    3. Housing Finance has a Whizz online banking platform to guarantee convenience to its clients.