The key highlights of the sector’s financial performance were: –
• Total net assets which grew by 11.4 percent from Ksh.5.4 trillion in December 2020 to Ksh.6.0 trillion in December 2021, with the growth being supported by the increase in loans and advances.
• Customer deposits increased by 7.1 percent from Ksh.127.2 billion in 2020, to Ksh.136.3 billion in 2021.
The growth in deposits was due to deposit mobilization through agency banking and mobile phone platforms.
• The pre-tax profit for the sector increased by 75.8 percent from Ksh.112.1 billion in December 2020, to Ksh.197.0 billion in December 2021. The growth was largely supported by the growth in the credit portfolio, investment in government securities, commissions and earnings from foreign exchange
trading.
• Gross loans which increased by 8.3 percent from Ksh.3,006.1 trillion in December 2020, to Ksh.3,255.4 trillion in December 2021. The growth in loans is attributed to increased demand for credit by the various economic sectors.
Source: CBK BANK ANNUAL SUPERVISION REPORT 2021
