KCB ranks safest bank in Kenya: Global Finance rankings

Global Finance rankings have ranked KCB Group Plc has been named as the safest bank in the country, according to a news report by Nation.

The 29th annual World's Safest Banks rankings recognize the lender among 14 African financiers in the list that consisted of banks from 112 countries globally.

KCB was the only lender in Kenya on the roll. The safest banks by country were selected through an evaluation of long-term foreign currency ratings from Moody's, Standard & Poors, and Fitch, and the total assets of the 1,000 largest banks worldwide.

The agencies' ratings reflect the position in loss-absorbing capital buffers, possible risks in relation to asset quality and profitability, and adoption of stronger resolution plans in the event of bank failure.

KCB Group Plc was also ranked at position 667 globally in The Banker's Top 1000 World Banks ranking for 2020, climbing 40 places in the survey that shows stabilization in finances of the majority of African leaders.

The performance is an improvement from position 717 last year in the ranking, which tracks the health and wealth of the global banking sector. In 2018, KCB was ranked 809.