By NATION AFRICA More by this AuthorRwanda contributed the highest volume of profit earnings for Kenyan banks' subsidiaries in East Africa and beyond last year, a new report by the Central Bank of Kenya (CBK) said. Several Kenyan banks have expanded operations in the East African Community (EAC) partner states and beyond in markets such as Mauritius, Malawi, and Mozambique. The Kenyan banks' subsidiaries accounted for a combined deposit base of Sh1.28 trillion in December 2022 compared to Ksh940 billion ($6.84 billion) in December 2021. Uganda and Rwanda accounted for 17.16 percent and 16.53 percent of the gross loans respectively. Mauritius recorded gross loans of Ksh73.1 billion ($531.64 million) accounting for 10.07 percent of gross loans.

Source: Daily Nation May 19, 2023 15:00 UTC