This survey was conducted between the months of February and June 2010. It is set to examine the extent of the application of Corporate Governance practices in the banking sector in Kenya. The survey was founded on the premises that Corporate Governance is a vital ingredient in maintenance of a dynamic balance between the need for order and equality in society. Corporate Governance is an integral part of the banking sector, considering the role played by the banking and financial institutions. The survey also sought to establish if there is a relationship between the actual Corporate Governance practiced in the banking sector and what the stakeholders expect. The design used in this research was a survey of the descriptive kind. This design was used to acquire a lot of information through description and was useful for identifying variables. Primary data in this survey was collected using semi-structured questionnaires and was administered by face to face interviews. The quota size of the study was respondents drawn from commercial bank in Kenya (Machakos Branch). Analysis and results are shown through the use of percentages, mean scores, standard deviations, and tables are then used to present the data.