Deposits held in commercial banks by customers rose by Sh430.4 billion in six months to cross the Sh5 trillion mark for the first time in June, mainly driven by a weak shilling and digitisation, even as banks try to woo customers with five-year high-interest rates.
Latest figures from the Central Bank of Kenya’s Credit Officer Survey show customer deposits grew 6.9 percent to hit a record Sh5.16 trillion in June compared to Sh4.82 trillion in March.
