Small lenders accounted for 4.6 per cent of the new bank accounts with more than Sh100,000 as wealthy savers preferred well-known brands in the wake of three mid-sized financiers being placed under receivership after failing to meet their obligations.
The 21 small banks — classified by the Central Bank of Kenya (CBK) as low-tier — had 6,155 new accounts with more than Sh100,000 of the 134,425 high-quality deposits that lenders gained last year.
