[Source: People Daily, by John Otini]
The banking sector’s deposits rose at the fastest annual pace on record as companies hoarded cash to guard against slumping sales from the coronavirus pandemic, reports show.
Customer deposits in the eight largest banks rose by more than Sh780 billion to Sh2.8 trillion, a record surge in a Sh10 trillion economy, according to cumulative banking sector half-year earnings data.
Deposits were concentrated at…
