Central Bank publishes banking sector annual report
14 noviembre 2019

On November 11, the Central Bank of Kenya (BCK) published the bank supervision annual report 2018, which analyzes the performance of the banking sector in that timeframe based on variables such as the number of deposits and ATMs and the quantity of mobile financial services transactions. Overall, it was a positive year for the banking sector with transactions across the financial system exceeding USD 31.8 billion, 12% more than in 2017. The report projects strong growth for the financial sector in coming years coinciding with the entry of Fintech to the country.

Regarding mobile financial services, the report indicates that more than 16 million active mobile deposit accounts, valued at about USD 1 billion, were detected by the end of 2018. The value of mobile financial transactions increased by over 10% in 2018 compared with the previous year, totaling USD 3.5 billion.

The total sum of cash deposits also grew, from 72 million in 2017 to 81 million in 2018. In the same period, cash withdrawals fell from 49 million to 46 million in 2018. On the other hand, there were 1,503 bank branches in 2018, thirteen fewer than in 2017. Finally, the number of ATMs in the country has risen from 2,796 to 2,833.

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