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Kenyan (NSE) Banks Industry Analysis
UpdatedSep 28, 2025
DataAggregated Company Financials
Companies11
- 7D3.5%
- 3M16.2%
- 1Y51.6%
- YTD22.5%
Over the last 7 days, the Banks industry has risen 3.5%, driven by gains from Equity Group Holdings of 7.4%. This means that the industry has gained 52% over the past year. Earnings are forecast to grow by 13% annually.
Industry Valuation and Performance
Has the Kenyan Banks Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 29 Sep 2025 | KSh1.1t | KSh724.7b | KSh250.8b | 4.7x | 4.3x | 1.5x |
| Wed, 27 Aug 2025 | KSh1.0t | KSh723.3b | KSh250.7b | 4.7x | 4.1x | 1.4x |
| Fri, 25 Jul 2025 | KSh966.7b | KSh707.2b | KSh239.7b | 4.1x | 4x | 1.4x |
| Sun, 22 Jun 2025 | KSh898.3b | KSh707.7b | KSh239.9b | 3.9x | 3.7x | 1.3x |
| Tue, 20 May 2025 | KSh871.1b | KSh715.7b | KSh240.4b | 3.8x | 3.6x | 1.2x |
| Thu, 17 Apr 2025 | KSh853.2b | KSh715.4b | KSh240.4b | 3.7x | 3.5x | 1.2x |
| Sat, 15 Mar 2025 | KSh873.8b | KSh665.1b | KSh225.6b | 4x | 3.9x | 1.3x |
| Mon, 10 Feb 2025 | KSh875.1b | KSh663.5b | KSh224.3b | 4x | 3.9x | 1.3x |
| Wed, 08 Jan 2025 | KSh895.5b | KSh663.7b | KSh224.4b | 3.9x | 4x | 1.3x |
| Fri, 06 Dec 2024 | KSh771.5b | KSh658.7b | KSh223.4b | 3.5x | 3.5x | 1.2x |
| Sun, 03 Nov 2024 | KSh773.0b | KSh644.3b | KSh217.9b | 3.6x | 3.5x | 1.2x |
| Tue, 01 Oct 2024 | KSh713.0b | KSh644.3b | KSh217.9b | 3.5x | 3.3x | 1.1x |
| Thu, 29 Aug 2024 | KSh685.8b | KSh630.3b | KSh208.7b | 3.4x | 3.3x | 1.1x |
| Sat, 27 Jul 2024 | KSh674.0b | KSh620.9b | KSh207.2b | 3.5x | 3.3x | 1.1x |
| Mon, 24 Jun 2024 | KSh692.7b | KSh620.5b | KSh207.0b | 3.5x | 3.3x | 1.1x |
| Wed, 22 May 2024 | KSh685.5b | KSh602.1b | KSh195.8b | 3.6x | 3.5x | 1.1x |
| Fri, 19 Apr 2024 | KSh682.4b | KSh606.5b | KSh192.7b | 3.7x | 3.5x | 1.1x |
| Sun, 17 Mar 2024 | KSh662.1b | KSh593.0b | KSh193.5b | 3.7x | 3.4x | 1.1x |
| Tue, 13 Feb 2024 | KSh584.8b | KSh591.4b | KSh193.2b | 3.3x | 3x | 1x |
| Thu, 11 Jan 2024 | KSh574.5b | KSh591.3b | KSh193.2b | 2.9x | 3x | 1x |
| Sat, 09 Dec 2023 | KSh575.1b | KSh590.9b | KSh193.0b | 3.1x | 3x | 1x |
| Mon, 06 Nov 2023 | KSh557.7b | KSh570.6b | KSh189.0b | 3.7x | 3x | 1x |
| Wed, 04 Oct 2023 | KSh583.7b | KSh570.6b | KSh189.0b | 3.9x | 3.1x | 1x |
| Fri, 01 Sep 2023 | KSh601.3b | KSh568.1b | KSh187.9b | 3.8x | 3.2x | 1.1x |
| Sun, 30 Jul 2023 | KSh632.4b | KSh559.3b | KSh187.1b | 4.1x | 3.4x | 1.1x |
| Tue, 27 Jun 2023 | KSh618.3b | KSh559.3b | KSh187.2b | 4x | 3.3x | 1.1x |
| Thu, 25 May 2023 | KSh588.1b | KSh535.8b | KSh181.7b | 3.9x | 3.2x | 1.1x |
| Sat, 22 Apr 2023 | KSh682.2b | KSh536.2b | KSh181.8b | 4x | 3.8x | 1.3x |
| Mon, 20 Mar 2023 | KSh622.0b | KSh499.0b | KSh178.5b | 3.3x | 3.5x | 1.2x |
| Wed, 15 Feb 2023 | KSh685.3b | KSh493.0b | KSh177.3b | 3.7x | 3.9x | 1.4x |
| Fri, 13 Jan 2023 | KSh679.1b | KSh491.1b | KSh176.7b | 3.9x | 3.8x | 1.4x |
| Sun, 11 Dec 2022 | KSh642.3b | KSh481.6b | KSh172.1b | 3.6x | 3.7x | 1.3x |
| Tue, 08 Nov 2022 | KSh633.2b | KSh469.8b | KSh166.7b | 3.8x | 3.8x | 1.3x |
| Thu, 06 Oct 2022 | KSh639.7b | KSh469.8b | KSh166.7b | 3.8x | 3.8x | 1.4x |
Price to Earnings Ratio
3.8x
Current Industry PE
- Investors are optimistic on the Kenyan Banks industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 4.3x which is higher than its 3-year average PE of 3.5x.
- The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- The earnings for companies in the Banks industry have grown 15% per year over the last three years.
- Revenues for these companies have grown 16% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Kenyan Financials industry?
| KE Market | 2.60% | |
| Financials | 3.46% | |
| Banks | 3.51% | |
| Regional Banks | 6.93% | |
| Diversified Banks | 3.45% | |
Industry PE
- Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 6.2x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 3.5x.
Forecasted Growth
- Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 13% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Diversified Banks industry is expected to see its earnings grow by 13% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| EQTY Equity Group Holdings | KSh58.00 | 7.4% +KSh15.1b | 33.5% | PB0.8x | |
| COOP Co-operative Bank of Kenya | KSh21.15 | 10.4% +KSh11.7b | 59.6% | PB0.8x | |
| KCB KCB Group | KSh57.00 | 6.0% +KSh10.4b | 62.9% | PB0.6x | |
| HFCK HF Group | KSh10.80 | 6.9% +KSh1.3b | 151.7% | PB1.2x | |
| NCBA NCBA Group | KSh69.00 | 0.7% +KSh823.8m | 62.0% | PB1x |