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KCB named the safest financial institution in Kenya

The Global Finance rankings has named the Kenya Commercial Bank as the safest banking institution in the country.

During the 29th annual World’s Safest banks ranking, KCB emerged as one of the leading lenders among 49 African countries. The list consisted of 112 countries worldwide. On the roll, KCB was the only lender from Kenya.

An evaluation of long-term foreign currency ratings took centre stage when selecting the safest banks by country.

The selection involved the Poor’s and Fitch to the Moody’s Standard and the total assets of 1,000 banks globally.

The institution’s ratings mostly reflect on the adoption of stronger resolution plans in the event of bank failure, possible risks in relation to asset profitability, and quality, and loss-absorbing capital buffers.

Improvement in the global rank

Globally, KCB group OLC was also ranked 667 in The Banker’s Top 1000 World Banks ranking for 2020.

The finance institution climbed up to 40 places in the current survey that reflects the stability of lenders in African countries.

Additionally, KCB has shown stability in its finances as the position is an improvement from position 717 last year.

This tracks the wealth and health of the global bank. In 2018, KCB ranked position 809 globally.

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