Representative offices of foreign banks in Kenya contracted marginally last year, hampered by continued constraints in international trade in the period as economies reopened from Covid-19 restrictions.
Central Bank of Kenya (CBK) data contained in the 2021 annual banking supervision report shows that the nine representative offices conducted business worth $3.3 billion (Sh385.2 billion in today’s rate) compared to $3.4 billion (Sh397 billion) in 2020.
