Tier-one lenders cut their dependence on the interest income from lending last year after higher fee revenue from mobile transactions and foreign exchange trading boosted the share of non-funded to 38 percent of total income from 34.4 percent in 2021.
The nine lenders reported a 33 percent rise in non-interest income to Sh225.4 billion in 2022 from Sh164.6 billion received the year before.
