Five (5) are provincial based while the rest are industrial based societies. Total assets of the industry were approximately K172.8 million with loans and advances forming about 48.74% of total assets at end June 2004. Members’ savings deposits were about K133.8 million from 127,276 members. The overall health of the industry is satisfactory.
Including the Federal Reserve, nine central banks in advanced economies accounting for half of global GDP have raised rates by 125 basis points or more in the past six months. 2 Global financial conditions have likewise tightened.