Top 10 'safest' Kenyan banks
14 April 2016, 08:01
Nairobi - Cytonn Investments Limited, a leading independent investments management company in the country has released a list of the ‘safest’ banks where Kenyans can keep their money without worry.
According to the Cyntonn Investments Composite Banking 2015 report, the top five healthy financial institutions in the country are Kenya Commercial Bank (KCB), Equity Bank, Diamond Trust Bank (DTB) and Cooperative Bank in that order.
In the ranking by the investment group, CfC Stanbic, Barclays and NIC banks came sixth, seventh and eighth respectively. HF Group and National Bank of Kenya came ninth and tenth in that order.
"KCB Group rose to the top position from position 3 in quarter 3, 2015 based on its robust franchise value on the back of the high return on average equity of 25.0 %,” reads the report.
Three banks have in the last nine months collapsed with billions of shillings belonging to depositors.
Chase Bank Kenya Limited, a midsize lender was the latest financial institution to be put under receivership early this month over what was termed as liquidity leader difficulties.
Two other financial institutions; Dubai Bank and Imperial Bank were shut down in August and October over the same reasons.
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