The number of Kenyan bank accounts holding more than KSh 500,000 climbed to 781,977 by December 2025, up from 739,803 the previous year. This represents a 5.7% rise, reversing a contraction of 2,753 high-value accounts recorded between 2023 and 2024. According to data from the Central Bank of Kenya (CBK), this growth signals renewed accumulation of wealth among top-tier depositors even as overall economic momentum softened. Kenya's GDP expanded by 4.6% in 2025, slightly slower than the 4.7% recorded in 2024.
Despite the growth in high-value accounts, they represented just 0.97% of all 80.68 million registered bank accounts in the country. This figure underscores deepening income inequality, as analysts say the gains of Kenya's economic expansion have not been evenly distributed. The country's economy has expanded by an average of 5.0% annually over the past decade. The decline in total deposit accounts from 114.24 million in 2024 also played a role in inflating the share of high-value accounts, as banks undertook a clean-up of dormant and inactive accounts.
High-value accounts are held by a combination of wealthy individuals, private and public enterprises, pension funds, and fund managers, rather than ordinary retail depositors. A significant shift towards mobile and digital banking platforms has accelerated the opening of lower-value transactional accounts, outpacing growth at the top end. Mobile accounts offer users convenient access to credit and savings products, and many Kenyans now hold multiple mobile accounts across different platforms.
NCBA, Equity Bank, and KCB remained the three largest banks by total deposit accounts, holding 36.3 million, 13.8 million, and 12.3 million accounts respectively. Together, they accounted for 77.5% of the industry total. However, their dominance in volume did not translate into a leading share of high-value accounts. Smaller institutions, including Citi Bank, Victoria Commercial Bank, and Bank of India, held a proportionately higher share of accounts above the KSh 500,000 threshold.
The growth in super-rich depositors mirrors a wider trend on the continent, as Kenya is among the African nations recording some of the fastest increases in its wealthy population. However, the broader economic dividend has been slow to reach lower-income households. This trend highlights the need for more inclusive economic growth and distribution of wealth.
The Central Bank of Kenya data showed that high-value bank accounts grew, reversing a decline recorded the previous year. This growth is a positive indicator for the economy, but it also raises concerns about income inequality. The Kenyan government and financial institutions will need to address these concerns to ensure that economic growth benefits all segments of society.
The CBK data also revealed that the banking landscape has undergone significant changes, with a shift towards mobile and digital banking platforms. This shift has led to an increase in lower-value transactional accounts, but high-value accounts have also grown. The growth of high-value accounts is a positive indicator for the economy, but it also highlights the need for more inclusive economic growth.
Key points
- The number of Kenyan bank accounts holding more than KSh 500,000 grew to 781,977 by December 2025.
- High-value accounts represented just 0.97% of all 80.68 million registered bank accounts in the country.
- NCBA, Equity Bank, and KCB remained the three largest banks by total deposit accounts.
