KCB ranked the safest bank in Africa - Capital Business
Connect with us

Hi, what are you looking for?

KCB Group CEO and MD Joshua Oigara/FILE

Africa

KCB ranked the safest bank in Africa

NAIROBI, Kenya, October 8 –KCB Group has received two global accolades, cementing its leadership position in driving excellent customer service and supporting East Africa’s economic agenda.  

KCB has been ranked the Safest Bank in Africa by Global Finance in the World’s Safest Banks, 2021. The Group has also been ranked as the most valuable financial Kenyan brand for the year 2021 by Brand Finance.

KCB Group received these two awards for the support given to customers to cushion them against the effects of the COVID-19 pandemic. In the wake of the healthcare crisis, KCB rolled out several support initiatives, joining hands with governments and industry players in driving this response.

KCB restructured facilities worth over KShs.120 billion in debt-relief measures which saw customers apply for loans to be restructured, credit lines expanded, and loan tenures extended to keep them financially afloat.

“The past year demonstrates the resilience of the banking sector, which stood as a bulwark against collapse during the coronavirus pandemic, supplying critical emergency funding as well as, in many cases, emergency equipment and supplies,” said Joseph Giarraputo, publisher and editorial director of Global Finance. “The safest banks are paragons of stability, and continue to provide necessary support for governments and communities as they seek to recover from pandemic’s economic shocks.”

Global Finance’s annual rankings of the World’s Safest Banks has been one of the most recognized and trusted standard of financial counterparty safety globally.  Winners were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s and Fitch—of the1000 largest banks worldwide.

Brand Finance is the world’s leading brand valuation consultancy. This is the second consecutive year that Brand Finance has ranked the top 150 brands of Africa by brand value and brand strength. In Kenya, seven Kenyan brands featured in this year’s ranking and account for four percent of total brand value. KCB Group was ranked top among financial institutions.

“We are proud of these recognitions. We are committed to building a brand which is not focused on profits alone but on the customers and the communities we serve. Guided by our Beyond Banking strategy, we are focused on delivering the very best in customer experience, driving a digital future. We are pleased that our efforts are being recognized globally, “said KCB Group CEO and MD Joshua Oigara.

For the year 2021, KCB Group has been recognized as the Best Bank by the Global Finance – World’s Best Bank Awards 2021, Best ESG Solution by the Middle East & Africa Innovations Awards 2021, Most Admired Sales Company in Kenya for the year 2020 by Employability Test.com and Best Overall Bank in Kenya by FiRe awards to mention but a few. 

Advertisement. Scroll to continue reading.
Advertisement

More on Capital Business

Kenya

NAIROBI, Kenya, Mar 21 – KCB Group shareholders will forfeit dividends following the lender’s net profit decline by eight percent to Sh37.5 billion for...

Banks

NAIROBI, Kenya, Mar 20 – The Kenya Commercial Bank (KCB) has entered into an agreement with Nigeria’s Access Bank to sell 100 percent of...

Banks

NAIROBI, Kenya, Mar 13 – The Kenya Commercial Bank (KCB) flagged fraudulent transfers of funds involving the Constituency Development Fund (CDF). According to a...

Banks

NAIROBI, Kenya, Feb 12 – The Kenya Commercial Bank (KCB) and Visa have rolled out two cards that target those earning above Sh300,000. The...

Finance

LONDON, UK, Dec 1 – Kenya Commercial Bank (KCB) Group has been named Best Banks of the Year during a gala dinner yesterday by...

Kenya

NAIROBI, Kenya, Oct 19 – High-net-worth individuals will access premium banking services at KCB Bank Kenya following the rollout of a World Elite Exclusive...

Banks

NAIROBI, Kenya, Aug 23 – KCB Group total assets grew 54 percent to Sh1.86 trillion in the six months to June this year, taking...

Kenya

NAIROBI, Kenya, Aug 14 – KCB Bank Kenya and the Swedish International Development Cooperation Agency (SIDA) have signed an agreement to insure loans issued...