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Best Banks in Kenya to open an account

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The Kenyan banking industry has seen tremendous growth over time and this has been so due to the presence of several banking companies. The availability of these many banking options creates a good and ethical competition among them thereby resulting in good terms of service to customers. It is therefore an uphill task to gauge which bank is better than the other. However, we still must have the best out of them all.

In terms of ranking, we based our reasoning on customer service delivery, customer satisfaction, terms of service and various services individual bank offers. It must be noted that the ranking is subject to future changes depending on prevailing circumstances and other developments a given bank takes.

  • Kenya Commercial Bank, KCB

Kenya Commercial Bank has its roots in 1898 where it originated from the parent company, the KCB group which was formed as a branch of Commercial Bank of India. It has grown over time to what we currently have as the KCB.

 

KCB has millions of customers locally and internationally due to its exception services which has seen it being ranked the best in Kenya. It has won several awards something that indicates its outstanding services. One of the good things with KCB is the security of the money the customers enjoy when they bank with KCB.

Their partnership with Kenya’s greatest Telecommunication¬† company, Safaricom, has made it easier for the customers to transact any kind of transaction at the comfort of their homes by simply using KCB Mpesa.

  • The Equity Bank

The bank was established as Equity Building Society (EBS) in October 1984. Originally, it was just a provider of mortgage financing for the majority of customers who fell into the low income population.

It has several branches all over the country and has a lot of services they offer to customers. In charity and community service, they have the popular Equity Wings to Fly, a program that aims at financing education of bright but poor children and its successful speaks for itself.

  • Cooperative Bank

The Co-operative Bank features among the best banks in the country. They Bank requires zero operating balance and nil monthly maintenance fees. Meaning that one can still have a valid account even if you happen to withdrew all your money.

They too have partnered with telcos companies within the country to make banking experience more easier with less paper works. There are over thousands of Coop bank branches in the country indicating that it is widely accepted.

  • Standard Chartered Bank

It was a British bank that began in Cape Town South Africa but entered Kenya in 1911 with their first branch in Mombasa. It was born out of a merger between the Standard Bank and Chartered bank.

Standard Chartered bank is a big financial institution best for various businesses and organizations as they are offering a wide range of financial solutions, including financing, guarantees, trade finance, remittances, syndications, corporate advisory business and more.

  • ABSA bank

ABSA Bank Kenya which was formerly known as Barclays Bank. The bank was licensed in its present form in 1953 and in 1978 it was incorporated locally as Barclays Bank of Kenya, a wholly owned subsidiary of Barclays Bank International.

Having an account with the ABSA bank guarantees a customer of the following services,

  • Overdraft facility. Cover for rainy days. …
  • Lifestyle and travel benefits. Open up your life and money to the world with foreign currency investments, international money transfers, lounge access, chauffeured drives and a host of travel benefits.
  • Premium service.

 

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I am a writer, an author, communication expert, a linguist, Kiswahili specialist and media enthusiast whose ambition is to give media and journalism a different and new perspective. I hold a B.A degree in Kiswahili and Communication from the Catholic University of Eastern Africa, CUEA.