Kenya’s banking sector is divided into three categories: Tier 1, Tier 2, and Tier 3 banks. This classification is based on a weighted index that considers factors like net assets, capital, reserves, customer deposits, and the number of loans and accounts held by the banks. The Tier 2 classification refers to medium-sized banks that hold a significant but not dominant share of the market.
As of the latest Bank Supervision Annual Report by the Central Bank of Kenya, Tier 2 banks hold a collective market share of 16.7%, with a total of nine banks in this category. These banks often provide a broad range of financial services to individuals, businesses, and the public sector. Tier 2 banks have grown to be key players in Kenya’s financial landscape, offering competitive products and services.
This article presents the list of all Tier 2 banks in Kenya, detailing their market size index and total assets for the year 2025.
List of Tier 2 Banks in Kenya
- Prime Bank Ltd
- Market Size Index: 2.9%
- Total Assets: Ksh 188,807 Million
- Bank of Baroda (Kenya) Limited
- Market Size Index: 2.7%
- Total Assets: Ksh 200,538 Million
- Citibank N.A. Kenya
- Market Size Index: 2.6%
- Total Assets: Ksh 171,822 Million
- Family Bank Ltd.
- Market Size Index: 2.1%
- Total Assets: Ksh 168,414 Million
- National Bank of Kenya Ltd
- Market Size Index: 1.6%
- Total Assets: Ksh 148,255 Million
- Bank of India
- Market Size Index: 1.6%
- Total Assets: Ksh 90,543 Million
- Ecobank Kenya Ltd
- Market Size Index: 1.1%
- Total Assets: Ksh 102,634 Million
- SBM Bank Kenya Ltd
- Market Size Index: 1.1%
- Total Assets: Ksh 101,385 Million
- HFC Ltd
- Market Size Index: 1.0%
- Total Assets: Ksh 67,561 Million
Conclusion
Tier 2 banks in Kenya are important players in the country’s banking sector, providing a range of financial services to businesses, consumers, and government institutions. These banks offer specialized products and services, such as loans, deposits, and financial advice, contributing to the development of Kenya’s economy.
Despite their smaller size compared to Tier 1 banks, Tier 2 banks hold a significant market share and continue to grow, adapting to the changing needs of the financial sector and their customers.
This list highlights the main Tier 2 banks in Kenya, showcasing their role in the competitive landscape and their total assets for the year 2025. As the financial industry evolves, these institutions remain essential to driving economic growth and expanding access to banking services across the country.
