Banks reporting season continues…

Well the Bank reporting season is continuing with the big banks leading the line. Of course first up was Equity bank who always are the bearer of good news, announcing their increase in profits. Then came along Barclays, KCB, NIC bank and just yesterday Standard Chartered. Now of course not being a banker or an accountant i can quite decifer alot from thier financial statements and for that i would have to refer you to the blog bankelele.

Out of the banks that have announced their results Equity, Barclays, Standard Chartered and KCB have been on the expansion drive with 9, 6,4 and 12 new branches respectively. Out of the 4 only Standard Chartered has a reduction in profits from the year before which they attributed to expansion and staff costs.

Coop Bank who had thier IPO recently are next up tomorrow and they should be followed by National bank, CFC Stanbic, CBA Bank, DTB & I&M Bank. The general profitability of the industry should grow though we are yet to see what kind of results the likes of Dubai Bank, K-Rep, Oriental Commercial and City Finance will post.

With 43 banks with the anticipated entry of UBA and Bank PHB into this market, consolidation in the industry would be the way to go whether through the passing of a law or by default. Currently this is how the banks are ranked according to no of branches and ATM’s from CBK’s recent survey on bank rates and lending charges
Kenya Commercial Bank Ltd 147 12 168  
Barclays Bank of Kenya Ltd 101 6 227
Equity Bank Ltd 90 9 306
Co-operative Bank of Kenya Ltd. 51 148
Family Bank 38 7 53
National Bank of Kenya Ltd 34 58  
Standard Chartered Bank (K) Ltd 34 4 63 
K-Rep Bank 28 2 29  
CFC-Stanbic Bank Kenya Ltd. 17 29  
Commercial Bank of Africa Ltd 17 7  
National Industrial Credit Bank 15 20 
Diamond Trust Bank of Kenya 12 1 15 
Consolidated Bank of Kenya Ltd. 12 11  
Housing Finance 10 11  
Imperial Bank Limited 11 0 
Investments & Mort. Bank Ltd. 10 11 
Prime Bank Limited 10 1 0 
Southern Credit Banking Corp. 9 0
Trans-National Bank Ltd. 9 8 
African Banking Corporation. 8 0 
EcoBank Ltd 8 1  
Fina Bank Ltd 8 1 7 
Bank of Baroda Kenya Ltd 7 0 
Chase Bank (K) Ltd 6 5 
Fidelity Commercial Bank Ltd. 6 1 0 
Giro Commercial Bank 6 0
Bank of Africa Ltd 6 5  
Guardian Bank Ltd 5 0 
Oriental commercial Bank Ltd 5 1 0
Bank of India (K)Ltd 4 0 
Credit Bank Ltd 4 0
Equatorial Commercial Bank Ltd. 4 0 
Habib Bank A.G. Zurich 4 0
Habib Bank Ltd 4 0 
Paramount-Universal Bank Ltd 4 0 
Citibank N.A. 3 0
Dubai Bank (K) Ltd 3 0  
Gulf Africa Bank 3 3 5
First Community 2 2 0
Middle East Bank Kenya Ltd. 2 1
City Finance Bank Ltd 1 0
Development Bank of Kenya Ltd. 1 0
Victoria Commercial Bank 1 0
Bank Branches Change ATMs Kenswitch Pesapoint
Banks with a larger network of branches and ATMS are able to offer their customers greater accessibility. From Dec- 2007 to June
2008, 50 new bank branches were opened.
Note: Customers of banks which are members of independent ATM networks Pesa Point and KenSwith can access their monies through additional ATMS. Kenswitch has 152
ATMs and Pesa Point have 120 ATMs. If your bank is a member of both networks you can access your cash through 272 ATMs in addition to your banks network of ATMs.

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