Cybersecurity - Intelpoint

Kenya’s microfinance banks’ total assets over the years have ranged from KSh 57.0B to KSh 76.4B (2014–2024), standing at KSh 57.9B in 2024

Kenya’s microfinance assets grew by just 1.62% between 2014 and 2024.
The sector peaked in 2019 at KSh 76.4B, before entering a steady decline.
2023 (-8.8%) and 2024 (-9.8%) posted the steepest year-on-year declines.
The sector recorded only two notable growth spikes: 2015 (+21.9%) and 2019 (+7.9%).
Overall, the trend from 2020 onward shows persistent contraction in asset value.

After years of growth, Kenyan banks’ asset value declined by 1.6% to KSh 7.6T in 2024

Kenyan banks’ total assets grew by 56.6% between 2019 and 2024.
In 2024, assets declined slightly by 1.6%, the first drop in five years.
The sector recorded consistent growth from 2019 to 2023 before dipping in 2024.
The highest growth came in 2023, when assets surged 17.6% to KSh 7.7T.
Assets rose from KSh 4.8T in 2019 to KSh 7.6T in 2024.
Despite the 2024 dip, banks added nearly KSh 3 trillion in assets over the five years.

Kenyan banks' PBT grew 62.8% over five years, from KSh 159.9B to KSh 260.3B

Kenyan banks’ Profit-Before-Tax (PBT) grew by 62.8% between 2019 and 2024.
Total PBT rose from KSh 159.9B in 2019 to KSh 260.3B in 2024.
The lowest point was in 2020, when profits dropped to KSh 112.8B, a 29.5% decline.
Banks recorded their strongest recovery in 2021 with a 73.2% increase in PBT.

Kenya's local banks such as Equity Group (17% growth) recorded strong profit growth, while foreign-owned banks struggled

Equity Group was the most profitable bank on the list with $268M in H1 2025.
KCB followed closely with $250M in profits, supported by 8% YoY growth.
I&M Group achieved the fastest growth rate of 36%, despite a smaller base of $63 million.
Standard Chartered’s profits fell by 21%, highlighting the struggles of foreign banks.
Stanbic Holdings also declined by 9%, contrasting with local banks’ upward trend.

Mobile banking fraud cases increased by 87.2% to 146, the highest in 2024

Total fraud cases in Kenyan banks rose from 173 in 2023 to 353 in 2024.
Mobile banking fraud cases jumped by 87.2% to 146, making it the most common fraud type.
Online banking fraud recorded the steepest rise, growing by 457.9% to 106 cases.
Identity theft increased by 51.4%, reaching 56 reported cases in 2024.
Internet scams increased by 28.6%, totalling 9 cases in 2024.

With 146 cases, mobile banking fraud resulted in the highest loss of KES 810.7B

Kenya recorded 353 fraud cases in 2024, totalling KES 1.6T in losses.
Mobile banking fraud, with 146 cases, was the biggest threat, causing KES 810.7B in losses.
Card fraud had only 24 cases but resulted in KES 263.3B lost, showing its high risk. Computer fraud recorded 12 cases, leading to KES 203.4B in damages.
Identity theft saw 56 cases, costing banks and customers KES 199.1B.
Online banking fraud was the second most frequent (106 cases), but losses were relatively lower at KES 111.8B.
Internet scams had the fewest cases (9) but still caused KES 6.1B in losses.

Titan Trust acquires Union Bank, keeping its name and century-old heritage

Union Bank began as Colonial Bank, later Barclays Bank DCO, before indigenisation in 1979.
Nigerian investors took majority control, renaming it Union Bank of Nigeria.
The 2009 banking crisis weakened the bank; AMCON stabilised it, while Union Global Partners Ltd injected $500m for 65% control.
Titan Trust Bank acquired up to 100% ownership, and Union Bank was delisted from the Nigerian Exchange.
A court-approved scheme merged Titan Trust into Union Bank; Union Bank survived, retaining its century-old name and legacy under Titan’s ownership.

Access Bank reported the highest total salaries paid among selected Nigerian banks in 2024, reaching ₦357.6B

Access Bank paid the highest total salaries in 2024, amounting to ₦357.6 billion.
Stanbic IBTC devoted the largest share of its revenue to salaries at 9.96%, despite a much lower total salary bill than Access or FirstHoldCo.
Zenith Bank had one of the highest salary bills (₦137.7 billion) but spent the smallest portion of its revenue on staff at just 3.47%.
Wema Bank, though paying the lowest in total salaries (₦33.8 billion), had one of the highest salary-to-revenue ratios at 7.81%.
FirstHoldCo, with ₦229.1 billion in staff costs, maintained a moderate salary-to-revenue ratio of 7.14%.
The gap between total salary spend and salary-to-revenue ratios reveals more about each bank’s internal cost structure.

Access Bank consistently led in gross earnings among selected Nigerian banks, reaching N4.9T in 2024, a significant jump from N2.6T in 2023

Access Bank led all Nigerian banks with ₦4.9T in gross earnings in 2024, nearly doubling its 2023 performance.
FirstHoldCo saw a sharp rise in earnings to ₦3.2T in 2024
Zenith Bank grew consistently, crossing the ₦4T mark in 2024 from ₦1T in 2022, showing strong operational expansion.
Wema Bank, despite being the smallest, quadrupled its earnings over two years, from ₦0.1T to ₦0.4T.
Fidelity and FCMB nearly tripled their gross earnings between 2022 and 2024, showing rising momentum among mid-tier banks.

Kenya led 40 African countries with 90.1% account ownership in 2024

- Kenya led with 90.1 percent account ownership in 2024. - Mauritius (89.6 percent) and Ghana (81.2 percent) also in top 3. - Nigeria ranked 11th at 63.3 percent; Tanzania fell short at 59.8 percent. - Only 14 African countries exceeded the 60 percent inclusion benchmark. - Another 14 African countries have no recent data in the Global Findex

1 2 3 … 5 Next