Commercial International Bank’s Kenyan subsidiary has laid out plans to multiply its market share by three times over the next two years as it seeks to climb into Kenya’s second tier of banks, the unit’s chief executive said.
The Egyptian-owned lender entered the Kenyan market six years ago through an acquisition and today holds roughly 0.3% of the local banking market, a share that places it in the third tier of lenders. Banks regarded as second-tier operators typically hold more than 1% of market share.
CIB Kenya currently operates with a capital base of 5.4 billion shillings, equivalent to $41.8 million. According to the unit’s chief executive, the bank recorded asset growth in excess of 40% last year, fuelled largely by a 68% surge in lending.
To accelerate growth, the bank plans to broaden its retail proposition. One notable change will be the introduction of daily interest on deposit balances - a departure from the prevailing industry norm in which current accounts generally do not earn interest. Management says this move is part of a retail strategy to attract deposits and deepen relationships with individual customers.
Alongside retail products, CIB Kenya will prioritize trade finance and small and medium enterprises (SMEs). The bank intends to leverage the close commercial links between Egypt and Kenya to generate business opportunities. The chief executive highlighted that Egypt sources about 98% of its tea from Kenya, creating potential for pre-financing arrangements aimed at exporters. Kenya also imports manufactured goods from Egypt, a dynamic the bank hopes to support through trade-related services.
The plan centers on using targeted product offerings and trade corridors to build scale from a modest starting point. Management has pointed to recent lending-led asset growth as evidence of traction but did not provide a detailed breakdown of the retail roll-out timetable or quantitative targets beyond the two-year market-share objective.
Summary - CIB Kenya aims to triple its market share within two years by expanding retail deposit offerings, focusing on trade finance and SMEs, and capitalizing on Egypt-Kenya trade flows. The unit currently holds about 0.3% of the market and has a capital base of 5.4 billion shillings.