Central Bank of Kenya reports shifts in banking and mobile money

The Central Bank of Kenya (CBK) 2025 Bank Supervision Annual Report highlights significant shifts in the country's financial landscape. The number of bank accounts holding Sh500,000 or more rose by approximately 5.6 percent, increasing from 746,665 in December 2024 to 788,853 by the end of 2025.

In contrast, the number of accounts with balances below Sh500,000 saw a sharp decline, dropping from nearly 117 million to just over 83 million. KCB Bank Kenya Ltd recorded a substantial decrease in these lower-balance accounts, falling from 53.6 million to roughly 12.2 million. The report does not specify the cause for this change, though it may stem from accounting adjustments, system migrations, or the removal of dormant accounts.

Additionally, mobile money transaction volumes decreased by 30 percent in 2025, falling from 309.3 million to 217.6 million. While transaction volume dropped significantly, the total transaction value saw a more modest decline of 4 percent. The CBK attributed this to shifting usage patterns, noting that users are performing fewer low-value transactions and instead consolidating transfers into fewer, higher-value payments, alongside an increased adoption of merchant payments and mobile banking platforms.