Investors in Nairobi Securities Exchange-listed banks have gained Sh56.62 billion in paper wealth since the start of the year, signalling continued momentum from 2025.
Analysis of market data since the start of the year, shows the combined market for the 11 listed banks closed Monday at Sh1.286 trillion compared with Sh1.23 trillion on December 31 last year, translating to Sh59.04 billion gain.
The 11 banks are Absa Bank Kenya, BK Group, DTB Group, Equity Group, HF Group, I&M Group, KCB Group, NCBA Group, Stanbic Holdings, Standard Chartered Bank Kenya and Co-operative Bank of Kenya.
The Sh56.62 billion gains by the nine banking stocks is more than half (51.1 percent) of the Sh110.65 billion that the entire market has added this year, to take the combined valuation of listed firms to Sh3.055 trillion from Sh2.944 trillion at the end of last year.
Over this period, Safaricom stock has added Sh54.08 billion on account of its share, rising by 4.76 percent to take its valuation to Sh1.189 trillion.
Some listed firms have seen their share prices drop since the year started, leaving Safaricom and the banks to power the overall Sh110.65 billion gains.
Bank stocks’ strong start to 2026 extends the momentum seen in the final quarter of 2025 when most of the lenders posted gains in net profit for the nine-month period ended September, signalling continued dividend payment.
Co-op Bank leads the banking sector gains chart, having increased by 12.3 percent since the start of the year to take its price per share to Sh26.90 from 23.95. In the process, the lender’s market capitalisation has increased by Sh17.31 billion to Sh157.83 billion.
The lender’s rally has come on the back of the company closing last year with its first-ever interim dividend distribution of Sh1 per share amounting to Sh5.86 billion after growing its nine-month net profit by 12.3 percent to Sh21.56 billion.
NCBA followed with a share price rise of 7.44 percent to Sh90.25 from Sh84 at the end of 2025, lifting its market capitalisation by Sh10.29 billion to Sh148.69 billion.
Interest on the NCBA stock started rising in October last year, on market speculation that the lender was in acquisition talks with Stanbic Bank Kenya’s parent company, Standard Bank. The speculation sent the share to as high as Sh96.25 last year, then settled at Sh76.50 before staging a new rise.
Equity Group, the largest lender by market value, has added Sh10.38 billion to its valuation during the period, pushing its market capitalisation to Sh262.27 billion. The bank’s share price increased by 4.1 percent to Sh69.50, up from Sh66.75 at the close of last year.
Absa Bank Kenya has recorded a 4.05 percent gain in its share price to Sh25.70, resulting in a Sh5.43 billion increase in market value to Sh139.86 billion.
KCB Group has also posted gains, with its market capitalisation rising by Sh5.62 billion to Sh216.91 billion as its share price climbed to Sh67.50 from Sh65.75.
HF Group and I&M Group have been among the notable outperformers on a percentage basis. HF share price has risen by 6.9 percent to Sh10.65, increasing its market value by Sh1.3 billion to Sh20.08 billion. I&M Group gained 5.77 percent to Sh44.90, adding Sh4.26 billion to its valuation to close at Sh78.13 billion.
Over the same period, StanChart’s share price is up 2.58 percent to Sh307.75, lifting its market capitalization by Sh2.93 billion while Stanbic gained 0.39 percent to Sh200 per share, adding Sh296.49 million in value.
BK Group and DTB Group have also recorded appreciation, with BK Group’s market value rising by Sh224.18 million and DTB adding Sh97.61 million over the three-week period.
