The Nairobi Securities Exchange (NSE) has introduced a Banking Sector Index, effective October 1, 2025.
“The index underscores NSE’s commitment to innovation and the continuous development of products that meet evolving investor needs while strengthening Kenya’s capital markets.”
He added that it lays a foundation for sector-focused indices and broader product diversification.
Constituents of the Banking Sector Index and their market caps as of September 30, 2025:
| Company | Market Cap (as of Sept 30 2025) |
|---|---|
| Equity Group Holdings | KSh 218.9 Bn |
| KCB Group | KSh 182.4 Bn |
| Co-operative Bank of Kenya | KSh 125.6 Bn |
| Absa Bank Kenya | KSh 116.8 Bn |
| NCBA Group | KSh 113.7 Bn |
| Standard Chartered Bank Kenya | KSh 107.3 Bn |
| Stanbic Holdings | KSh 72.8 Bn |
| I&M Group | KSh 71.1 Bn |
| BK Group | KSh 35.7 Bn |
| Diamond Trust Bank Kenya | KSh 29.2 Bn |
| HF Group | KSh 20.1 Bn |
| Index | YTD Gain (%) |
| NASI | 43.13% |
| NSE 20 | 47.84% |
| NSE 10 | 36.93% |
| NSE 25 | 35.91% |
Large caps, especially Safaricom and banks, have driven much of this rally. Concentration risk and thin trading in some counters remain concerns.
The NSE reviews its indices periodically. In May 2025, it rebalanced the NSE 10, 20, and 25 to reflect liquidity, capitalization, and trading activity. HF Group and Diamond Trust Bank were included in the NSE 20. The review process is described as data-driven and aligned with international standards.
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