Large indigenous banks beat their foreign-owned counterparts in growing their income from forex trading this year, attributed to a willingness to pay a premium to access dollar supply in the market.
Tier one lenders’ earnings from forex trading in the first nine months of this year rose by 87.1 per cent to Sh52.89 billion, from Sh28.27 billion in the same period of the year, on higher demand for the dollar and widening margins.
