Share of bank accounts with Sh100,000 shrinks

Share of bank accounts with more than Sh100,000 shrinks
Wednesday December 16 2020
A Nairobi market trader counts money after the day’s sales. CBK data shows the share of the high quality accounts dipped to 2.49 per cent in 2019. PHOTO | FILE | NATION MEDIA GROUP
By PATRICK ALUSHULA
Summary
CBK data shows the share of the high quality accounts dipped from 2.62 per cent in 2018 and 3.94 per cent in 2014.
The fall came despite the number of bank accounts holding more than Sh100,000 having increased by 105,639 last year to 1.55 million.
 
The share of bank accounts holding more than Sh100,000 dropped to 2.49 per cent last year, reflecting the cash flow problems in an economy plagued by job cuts and Kenya’s growing income inequality.

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