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Kenya’s top banks safe amid global woes, says ratings agency Moody’s
Police officers leave Silicon Valley Bank’s headquarters in Santa Clara, California on March 10, 2023. US authorities swooped in and seized the assets of SVB after a run on deposits made it no longer tenable for the medium-sized bank to stay afloat on its own. PHOTO | NOAH BERGER | AFP
Rating agency Moody’s has said large local banks are at low risk of instability due to depositor flight compared to their peers in developed markets on high liquidity ratios and stable deposits.
The agency made the comments in the wake of volatility in the global banking sector following the collapse of two tech-leaning US banks last week after suffering panic withdrawals.
