Kenyans with money to keep in banks saw returns drop by Sh22 billion in the year to June after top bankers cut deposit rates in the wake of pressure from the Central Bank of Kenya (CBK) to lower the cost of loans.
Regulatory data show that the nine top-tier banks, including KCB, Equity and NCBA, paid depositors Sh89.9 billion in interest returns over the first half compared to Sh111.9 billion in the same period a year earlier.
