The value of insured bank deposits grew by a slower 14.7 percent to Sh857.8 billion as of December 2023 compared to the previous year, pointing to lesser protection of depositors.
Data by the Central Bank of Kenya (CBK) shows that the Kenya Deposit Insurance Corporation (KDIC) as of December last year only protected Sh857.8 billion out of the total Sh5.8trillion deposits in banks, an equivalent of 14.7percent—a drop from 15.7percent as at the end of 2022.
