Multinational banks operating in Kenya have failed to keep pace with the rapid expansion of their homegrown rivals, resulting in a loss of market share that has seen Standard Chartered Bank Kenya drop off the list of tier one lenders.
Newly published data by the Central bank of Kenya (CBK) shows that locally homegrown institutions such as KCB Bank Kenya and Equity Bank Kenya have progressively claimed a larger share of the market as measured through net assets, customer deposits, loan book, deposit and loan accounts and shareholder equity.
