List of all tier 3 banks in Kenya

While tier 1 and 2 banks in Kenya have 90% of the market share, tier 3 banks control just 10% of the market.

Picture/Middle East Bank Kenya

List of all tier 3 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 and 2 banks in Kenya have 90% of the market share, tier 3 banks control just 10% of the market. The following are the tier 3 banks in Kenya;

 

1. Sidian Bank

    1. Sidian Bank is a registered commercial bank in Kenya.
    2. It was formerly known as the K-Rep Bank and is licensed by the Central Bank of Kenya.
    3. The bank is headquartered at the K-Rep Center within the Kilimani area in Nairobi.
    4. Founded in 1984, the bank offers a wide range of financial services for both individuals and corporates that include;
        1. Personal Banking
        2. Business Banking
        3. SME Banking
        4. Microbanking
        5. Digital Banking
    5. Sidian Bank has branches all over the country, as well as mobile banking to make your experience easier.
    6. Click here to download the Sidian Bank Android mobile App.

 

 

Also read: List of all tier 2 banks in Kenya

 

 

 

Picture/Sidian Bank

 

 

2. Gulf African Bank

    1. Gulf African Bank is a commercial bank in Kenya operating under an Islamic banking regime.
    2.  It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
    3. Islamic banking is conducted in strict compliance with Sharia Law.
    4. The hallmark of Islamic Banking is interest-free loans. Issuance of loans without interest is in tandem with the spirit, ethos, and value system of Islam.
    5. Alongside other tier 3 banks, the Gulf African Bank controls 10% of the Kenyan market.
    6. Some of the services offered in line with the Islamic banking model include;
          1. Umma Account is cost-effective and convenient banking for charitable organizations and institutions.
          2. SME business account
          3. Biashara account
          4. Savings account
          5. Diaspora banking
          6. Home and plot financing
    7. Gulf African Bank has branches all over the country, as well as mobile banking to make your experience easier.
    8. Click here to download the Gulf African Bank Android mobile App.

 

 

Picture/Gulf African Bank

 

 

3. Guardian Bank

    1. Guardian Bank is a commercial bank in Kenya with headquarters in Nairobi.
    2. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.
    3. The bank was founded by the Chandaria Family, one of the prominent families in Kenya known for its business acumen.
    4. The family owns a vast business empire that spans manufacturing, and banking among other economic sectors in Kenya.
    5. Guardian Bank Limited was initially incorporated in Kenya in January 1992 as a Finance Company before being converted into a Commercial Bank in May 1996.
    6. The bank offers financial services that include;
        1. Loans and credit facilities
        2. Tamu Tamu Junior Account
        3. Forex services
        4. Foreign currency account
        5. Corporate account
    7. The bank had an asset base of over 16.7 billion as per its 2020 report.
    8. Click here to download the Gulf African Bank Android mobile App.

 

 

 

4. Development Bank

    1. Development Bank is a commercial bank in Kenya with headquarters in Nairobi.
    2. It is licensed by the Central Bank of Kenya which is the national banking regulator.
    3. The Government of Kenya owns an 89.3 percent stake in DBK through the Kenya Development Corporation
    4. Development Bank offers the following services;
        1. Business Banking
        2. Institutional Banking
        3. Personal Banking
        4. Loans
        5. Foreign exchange services
    5. The bank operates from the Finance House’s 16th floor, with additional branches all over the country.
    6. Like several other tier 3 banks, the Development Bank is fighting through losses and other existential threats.
    7. The government through the privatization commission is taking steps to sell the bank and take it off its books.
    8. In a bid to cut losses, the government has embarked on a shedding spree to get rid of non-performing assets.
    9. In a recent cabinet resolution, the Kenyan government was given the green light to sell loss-making enterprises without the approval of parliament.
    10. Alongside the Consolidated Bank, the Development Bank is facing a potential sale to a new owner(s).

 

 

Also read: List of all international banks in Kenya

 

 

5. Middle East Bank Kenya

    1. Middle East Bank is a commercial bank in Kenya with headquarters in Nairobi.
    2. It is licensed by the Central Bank of Kenya which is the national banking regulator.
    3. Middle East Bank Kenya Ltd (MEB) was incorporated in Kenya in October 1980 and established business in August 1981 with branches in Nairobi and Mombasa.
    4. The bank has also extended to Eldoret town.
    5. The following financial services are offered by the bank;
        1. Personal Banking
        2. Corporate Banking
        3. Loans
    6. Click here to access the Middle East Bank Kenya mobile/online banking platform.

 

 

Picture/Middle East Bank Kenya

 

 

 

6. ABC Bank

    1. ABC Bank is the African Banking Corporation Limited, a Kenyan commercial bank established in 1984.
    2. The bank is headquartered in the Westlands area of Nairobi and jointly holds 10% of the market share with the rest of the tier 3 banks.
    3. ABC Bank has 15 branches across Kenya and Uganda (11 in Kenya) where it offers the following services;
          1. Business Banking
          2. Personal Banking
          3. Stock brokerage
          4. Investment advisory
          5. Insurance
          6. Risk management
    4. The bank began as Consolidated Finance Company, a Nairobi-based lending institution.
    5. It has enjoyed steady growth that saw it amass over 50,000 clients across its 4 decades of existence.
    6. ABC Bank had an asset base of over Ksh. 36 billion by the end of 2022.
    7. ABC Bank also has a mobile banking platform to make your experience easier.
    8. Click here to download the ABC Bank Android mobile App.

 

 

 

7. Spire Bank

    1. Spire Bank, formerly Equatorial Commercial Bank, is a registered commercial bank in Kenya.
    2. The bank’s parent organization is Mwalimu National Sacco which is one of the biggest Saccos in Kenya.
    3. Spire Bank was recently at the center of an acquisition deal that was reached between Equity Bank and Mwalimu National, which owns 75% of Spire Bank.
    4. In a shrewd commercial maneuver, Equity Bank acquired some loan assets and deposit liabilities of the bank.
    5. This cushioned clients from possible financial disasters as it happened with other banks that were put under stringent statutory management regimes by the CBK.
    6. In previous bank collapse cases like in Imperial and Chase banks, depositors were locked out of their money for lengthy periods of time.
    7. The Equity acquisition of Spire Bank was executed on the 1st of February 2023.
    8. Spire Bank, however, continues to operate offering the following services;
          1. Business Banking
          2. Personal Banking
          3. Loans
          4. Insurance
    9. Spire Bank also has a mobile banking platform to make your experience easier.
    10. Click here to download the Spire Bank Android mobile App.

 

 

Picture/Nation Media Group

 

 

Also read: List of all tier 1 banks in Kenya

 

 

8. UBA Bank

    1. United Bank for Africa PLC is a Multinational pan-African financial services group headquartered in Lagos Nigeria.
    2. Also known as Africa’s Global Bank, it has subsidiaries in 20 African countries, as well as offices in London, Paris, and New York.
    3. The Kenyan subsidiary of UBA Bank is a decent licensed financial institution that offers the following services;
          1. Cards. Cards are highly convenient and can facilitate various transactions without you visiting the bank.
          2. Personal banking that includes current and savings accounts
    4. Click here to download the UBA Bank Android mobile App.

 

 

Picture/UBA Bank Group

 

 

9. Consolidated Bank

    1. Consolidated Bank is a commercial bank operating in Kenya.
    2. The bank is fully owned by the Government of Kenya with the national treasury having 93% of the shares.
    3. The rest of the shares are held by other government agencies and parastatals.
    4. Like several other tier 3 banks, the Consolidated Bank is fighting through losses and other existential threats.
    5. The government through the privatization commission is taking steps to sell the bank and take it off its books.
    6. In a bid to cut losses, the government has embarked on a shedding spree to get rid of non-performing assets.
    7. In a recent cabinet resolution, the Kenyan government was given the green light to sell loss-making enterprises without the approval of parliament.
    8. Alongside the Development Bank of Kenya, the Consolidated Bank is facing a potential sale to a new owner(s).
    9. The Nairobi-based money lending institution offers the following services;
        1. Personal Banking
        2. Business Banking
        3. Institutional Banking
        4. Loans
        5. Forex exchange
        6. Internet and mobile banking
    10. Click here to download the Consolidated Bank Android mobile App.

 

 

 

Picture/Consolidated Bank

 

 

10. Oriental Commercial Bank

    1. M Oriental Bank, previously known as Oriental Commercial Bank Limited, is a registered commercial bank in Kenya.
    2. The Nairobi-based money lending institution offers the following services;
        1. Personal Banking
        2. Business and Corporate Banking
        3. Loans
        4. Internet and mobile banking
        5. School fees collection
        6. Asset finance
    3. Its internet banking platform is linked with the M-PESA mobile money transfer service.
    4. Click here to visit the Oriental Commercial Bank online banking platform.

 

 

11. Access Bank Kenya

    1. Access Bank Kenya, formerly known as the Transnational Bank Kenya, is a registered commercial bank.
    2. The bank forms part of tier 3 licensed banks in Kenya that jointly enjoy a 10% market share.
    3. Access Bank Kenya offers the following services;
        1. Personal Banking
        2. Business and Corporate Banking
        3. Loans
        4. Internet and mobile banking
        5. Personal Savings Account
        6. Digital Banking
    4. Click here to download the Access Bank Kenya Android mobile App.

 

 

Picture/Access Bank Kenya

 

 

12. Habib Bank AG Zurich

    1. Habib Bank AG Zurich is a Swiss multinational commercial bank which is based in Zurich, Switzerland.
    2. The bank has subsidiaries operating in Kenya and the following other countries;
        1. Pakistan
        2. South Africa
        3. The United Arab Emirates
        4. The United Kingdom
    3. Habib Bank AG Zurich offers the following services;
        1. Individual Banking
        2. SME Banking
        3. Corporate Banking
        4. Institutional Banking
    4. Click here to download the Habib Bank AG Zurich Kenyan mobile App.

 

 

 

13. Paramount Bank

    1. Paramount Bank is a registered commercial bank in Kenya regulated by the Central Bank of Kenya.
    2. Paramount Bank is a small retail bank in Kenya that offers the following services;
        1. Personal Banking
        2. Business Banking
        3. Money Transfer
        4. Diaspora Banking
    3. Paramount Bank has a mobile banking platform that makes the user experience efficient and convenient.
    4. Click here to download the Paramount Bank Mobile App.

 

 

14. Credit Bank

    1. Credit Bank is a registered commercial bank in Kenya and is regulated by the Central Bank of Kenya.
    2. It offers the following services;
        1. Personal Banking
        2. Business Banking
        3. Trade financing
    3. Credit Bank has a popular iKonnect mobile banking platform that has over time streamlined its services.
    4. It is a convenient transaction platform that will see you not have to visit a bank branch for transactions.
    5. Click here to join the Credit Bank’s iKonnect platform.