Businesses cut local currency deposits held in banks by Sh75 billion in the first three months of the year as they sought higher returns in government securities, putting pressure on lenders.
Central Bank of Kenya (CBK) data shows corporates’ demand deposits—money held in non-interest-bearing accounts and accessed any time—fell by Sh54 billion to Sh956 billion at the end of March this year compared with Sh1.01 trillion at the end of December 2023.
