Depositors in top banks lose Sh63.7bn in a year as rates dip

Depositors in Kenya's top nine banks lost Sh63.7 billion last year due to declining interest rates. The banks paid Sh201.83 billion to depositors, a 29.3% decrease from the previous year. This situation was exacerbated by pressure from the Central Bank of Kenya to lower lending rates and encourage credit to the productive private sector.