Equity Bank still the most attractive listed lender

By Caroline Njenga

Equity Group has maintained its position as the most attractive bank for investment supported by a strong franchise and intrinsic value score.

This is according to the latest Cytonn Banking Sector Report, that ranks Cooperative bank second followed by KCB while I&M Holdings is listed fourth.

Among the listed banks, National Bank of Kenya is ranked lowest in both franchise and intrinsic value score.

KCB was ranked second, Co-operative Bank third, I&M Holdings in fourth position, while Diamond Trust Bank was ranked fifth.

Stanbic Holdings rose one position to seventh position supported by a high intrinsic value score, high revenue diversification and the highest deposit mobilization per branch of Kshs 5.2 billion.

National Bank was ranked lowered among the listed lenders.

The report shows that listed banks recorded improved Earnings Per Share that rose 15.1 percent on the back of lenders’ ability to develop products that respond to the needs of Kenyans, such as convenience and efficiency through alternative banking channels including mobile and agency banking.

He however says with the interest rate cap banks are likely to reduce lending to the private sector and focus on government papers, which are considered risk free.

The report projects that innovative lenders with diversified revenue streams will survive going forward.


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