Best bank: Equity Bank
Equity Bank continued to grow its total assets in 2023, surpassing the KSh1 trillion ($7.7 billion) mark at the end of the year. The bank maintained a third of its consumer loans to salaried civil servants, teachers and private-sector employees at 13% interest, despite the central bank hiking rates much higher.
It also maintained all loans disbursed during the interest rate-capping period at the same rate.
This has flowed through to the balance sheet where interest income was up 23% against interest expenses – which almost doubled from KSh23.9
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