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Financial markets

Stanbic Bank's Kenya Unit Sees 63.3% Growth in Assets Under Management

Strategic Insights

— 2 min read

Stanbic Bank's Kenya unit has seen a significant growth in its assets under management, reaching Sh4.03 billion at the end of March 2025, marking the fastest growth among bank-owned unit trust schemes in the first quarter of the year. This represents a 63.3 percent rise from Sh2.44 billion at the end of December last year, indicating continued interest in the shilling-denominated money market fund and dollar-denominated fixed income fund introduced by the lender in mid-September last year. The asset management business has attracted 2 million customers, with a third of the Sh4 billion invested in dollars.

Key Takeaways:

  • Stanbic Bank's Kenya unit saw its assets under management grow by 63.3 percent to Sh4.03 billion at the end of March 2025, the fastest growth among bank-owned unit trust schemes.
  • The asset base marks a significant increase from Sh2.44 billion at the end of December last year, driven by interest in the shilling-denominated money market fund and dollar-denominated fixed income fund.
  • The asset management business has attracted 2 million customers, with a third of the Sh4 billion (approximately Sh1.3 billion) invested in dollars.
  • The growth of Stanbic's unit trust scheme outpaced other bank-owned schemes, with NCBA's scheme growing by 27 percent, Absa's scheme by 44 percent, and Co-op's scheme by 31 percent.
  • Equity Investment Bank's scheme posted a one percent decline in assets under management.
  • Stanbic observed a trend where some of their large customers were moving part of their money to large external asset managers, prompting the launch of the asset management business.
  • The lender is working on a digital application to allow convenient saving in the money market fund and is targeting individual and institutional investors.

Statistics:

  • Sh4.03 billion: the total assets under management by Stanbic Bank's Kenya unit at the end of March 2025.
  • 63.3 percent: the percentage growth in assets under management from December 2024 to March 2025.
  • Sh2.44 billion: the total assets under management by Stanbic Bank's Kenya unit at the end of December 2024.
  • 2 million: the number of asset management customers attracted by Stanbic's asset management business.
  • Sh1.3 billion: the amount invested in dollars, or one-third of the Sh4 billion.
  • Sh49.95 billion: the total assets under management by NCBA's scheme.
  • 27 percent: the growth in assets under management by NCBA's scheme.
  • Sh21.5 billion: the total assets under management by Absa's scheme.
  • 44 percent: the growth in assets under management by Absa's scheme.
  • Sh17.7 billion: the total assets under management by Co-op's scheme.
  • 31 percent: the growth in assets under management by Co-op's scheme.
  • Sh13.3 billion: the total assets under management by KCB's scheme.
  • 43 percent: the growth in assets under management by KCB's scheme.

Sources:

  • Stanbic Bank's Kenya unit
  • Anjali Harkoo, Head of Insurance and Asset Management at Stanbic
  • Capital Markets Authority
  • NCBA scheme
  • Absa scheme
  • Co-op scheme
  • KCB scheme
  • Equity Investment Bank scheme

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