Regional units now grow into Kenyan banks' new golden goose

Kenyans queue in a branch of a local bank. Banks have increased loan-loss provisions amid geopolitical uncertainty. [File, Standard]

Kenyan banks are posting record half-year profits, but the engine of growth is increasingly located beyond the country's borders as a slowing domestic economy and rising living costs squeeze households and businesses at home.

While the Central Bank of Kenya (CBK) reported the economy expanded 5.3 per cent in the first quarter of 2026, up from 4.9 per cent a year earlier, the outlook has darkened considerably.