National Treasury and Planning CS nominee Njuguna Ndung'u has said that not a single bank collapsed during his tenure as the Central Bank of Kenya Governor.
Speaking on Tuesday, Ndung'u however, noted that there were problems at the time, that needed fixing.
He explained that part of the interventions they brought in required that banks merge to avoid closure and that is what happened.
"During my time there was no bank that collapsed. I was CBK governor between march 2007 to the beginning of March 2015. That does not mean that there were no problems, but you have to make sure that you bring in and develop new interventions to save the market and that's what we did," Ndung'u to the National Assembly Committee on appointments.
"There were several mergers and they were geared towards preventing any collapse of the banks because market situations do change. Some projects in market place can change and the regulator must know what to do."
He added that as a regulator, his role was to try and understand the market, help develop it, and regulate and protect the market.
"Those three dimensions are very important for a regulator and that is what I did for most of the time I was there."
