Kenyan central bank reports big increase in banks breaching regulations
Governor calls for banks to consider their “long-term impact on society”
The Central Bank of Kenya found 25% more banks were in breach of regulations in 2017 compared with the previous year, according to the central bank’s latest annual supervision report.
The central bank found 15 banks were found to be in violation of its own prudential guidelines and Kenya’s Banking Act, compared with 12 in 2016. The central bank said it had found 33 violations of the regulations by the 15 banks from January 1 to December 31, 2017.
The regulator has called for the country’s
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