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Number of strong banks falls by 50pc on tough CBK rules
In a move underlining concerns over the health of the industry, the Central Bank of Kenya (CBK) has downgraded its rating of the banking sector to satisfactory from strong. PHOTO | FILE
The number of strong commercial banks has fallen by half as the regulator adopted a stringent supervision stance following change of top management mid last year, the latest industry supervision report shows.
In a move underlining concerns over the health of the industry, the Central Bank of Kenya (CBK) has downgraded its rating of the banking sector to satisfactory from strong. “The institutions rated strong decreased from 22 in 2014 to 11 in 2015 due to the general drop in asset quality, earnings levels and liquidity positions of several banks,” reads part of CBK’s supervision report.
