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Bank customers still concerned over safety of savings

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Barclays Bank Kenya has reported rise in capital inflows from rival small peers on depositor confidence erosion after three mid tier lenders went under over insider lending and fraud.

While the tier 1 lender said its financial system had seen inflows coming in, the banks was still keeping a watch before it gives out the full extent of deposit flight.

“Customers are still asking where next to keep their cash on banking sector jitters,” said BBK Chief executive officer, Jeremy Awori.

Interbank charges are seen rising over the period as lenders move to caution their business against the sectors jitters.

Central Bank of Kenya has however moved to reassure the sector by releasing huge emergency bail out fund that would be extended to cash-starved lenders.

On Friday the regulator will release a liquidity plan for commercial and micro finance banks.

” The Central Bank Governor Dr Patrick Njoroge will hold a press briefing on the new liquidity support framework for commercial and microfinance banks on Friday, 15th April, 2016 at the CBK Building in Nairobi,” said the regulator.

Bank customers still concerned over safety of savings Reviewed by on . Barclays Bank Kenya has reported rise in capital inflows from rival small peers on depositor confidence erosion after three mid tier lenders went under over ins Barclays Bank Kenya has reported rise in capital inflows from rival small peers on depositor confidence erosion after three mid tier lenders went under over ins Rating: 0
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