Nairobi — KCB Group Plc has been ranked at position 667 globally in The Banker’s Top 1000 World Banks ranking for 2020, climbing 40 places in a survey that shows a stabilization in the finances of most African major lenders.
The performance is an improvement from position 717 last year in the ranking which tracks the health and wealth of the global banking sector. In 2018, KCB was ranked 809.
In what reaffirms the Bank’s strong credentials, KCB was rated number 1 in Eastern Africa and emerged in the top 10 among African banks in key parameters such as liquidity (10), growth (3), profitability (9), operational efficiency (8) and soundness (10).
The survey analyzed close to 2,000 financial institutions globally, based on 2019 full year financial results.
KCB’s improved ranking is attributed to the Bank’s strong capital base which is well within both internal and regulatory limits, solid business performance and a well-established corporate and retail franchise.
"We remain steadfast in strengthening our socio-economic contribution to the East African region and beyond and our commitment to creating value in the economies in which we operate. The core of our business lays in driving innovation while leveraging on technology in how we do business and support our stakeholders," said KCB Group CEO and MD Joshua Oigara.
The Banker said while the 2020 ranking shows a stabilization in the finances of the majority of African major lenders, the COVID-19 pandemic has hit Banks significantly and will take toll on lenders in key African markets, such as South Africa and Nigeria through the coming year.
The ranking includes data on more than $123 trillion of assets in 94 countries. Beyond Tier 1 Capital, it also includes additional data points such as Pre-Tax Profit, total Assets and key ratios including, Capital to Assets Ratio, Return on Capital, Return on Assets, NPL, Loans to Assets, and Cost to Income to provide an overall view of their soundness, profitability, asset quality and operational efficiency.
In the full year 2019, KCB reported growth in their assets and capital position in despite hard operating conditions in almost all the seven markets in operates in.
In response to the pandemic, KCB Group has instituted a raft of interventions to cushion and support key stakeholders such as customers and employees.
To date, the Bank has restructured facilities worth over Sh 101 billion to cushion customers against the effects of the crisis.In the half year 2020 financials, KCB’s total Assets […]