The Kenyan Banking Sector has shown continued growth in the 3rd quarter that ended September 30th 2012 compared to 2nd quarter. According to statistics from the Central Bank of Kenya, the sector continued to register improved performance with the size of assets standing at KES 2.3 trillion, loans & advances worth KES 1.32 trillion

This is compared to the 2nd compared to the 2nd quarter when the bank recorded the size of assets as standing at KES 2.2 trillion compared up from KES 2.1 trillion march while loans & advances were worth KES 1.3 trillion from KES 1.2 trillion in March. The deposit base for the 2nd quarter stood at KES 1.7 trillion up from KES 1.6 trillion the previous period.

Profits grow 52%

The deposit base was KES 1.72 trillion and the sector recorded a profit before tax of KES 80.8 billion as at 30th September 2012. This has been attributed to the growth in number of bank customer deposit and loan accounts which stood at 15,072,922 and 2,055,574 respectively.

In the 2nd quarter, the industry realized profit before tax of KES 53.2 billion as opposed KES 24.7 billion for the period ended 31st March 2012. During the same period, the number of bank customer deposit and loan accounts stood at 14,893,628 and 2,051,658 respectively.

The growth in profits represented 51.9% growth in the profit before tax for the sector in the three month period to September 30th.

During the quarter ended September 30, 2012, the sector comprised 43 commercial banks, 1 mortgage finance company, 6 deposit taking microfinance institutions, 5 representative offices of foreign banks, 111 foreign exchange bureaus and 2 credit reference bureaus.