Small banks have lost more than half of accounts holding above Sh100,000 as wealthy savers moved their cash to large lenders in the wake of three mid-sized financiers being placed under receivership after failing to meet their obligations.
The Central Bank of Kenya (CBK) data shows that small banks controlled 5.84 per cent of accounts with more than Sh100,000, down from 13.26 per cent in 2017 as depositors sought safety in larger institutions.
