Banks’ profitability, measured by their return on equity or shareholder funds hit a record high last year as lenders continued to defy the impact of interest rate caps and subsequent administrative controls that has stopped them from freely pricing credit as was the case in 2015 and earlier years.
According to data from the Central Bank of Kenya, the industry’s return on equity (RoE) hit a record 26.5 percent in 2022, beating 2015’s level of 23.9 percent.
