Insured bank deposits more than doubled to Sh710 billion in 12 months to June 2021 from Sh305 billion a year earlier after the Kenya Deposit Insurance Corporation (KDIC) raised the deposit coverage limit to Sh500,000 from Sh100,000.
According to KDIC’s latest annual report, the higher insured deposits translate to a protected value of 16 percent of the entire banking industry’s deposits from eight percent previously.
