NAIROBI, April 25 (Xinhua) -- A majority of Kenyan banks have fast recovered from the effects of the COVID-19 pandemic due to increased adoption of digital services, the Central Bank of Kenya said in a survey of the institutions released Monday.

       It noted that the financial institutions steadily recovered from the pandemic impact due to the rapid execution of digital strategies, which led to increased customer penetration, usage, and activity on digital channels, thus an increase in digital revenue.

       Digital financing innovations were critical in responding to the COVID-19 pandemic, as well as building resilience during and post-pandemic, it said.

       "Fintech solutions have enabled business continuity and the rapid scaling of support to vulnerable groups," said the Central Bank, adding that 57 percent of the institutions surveyed said digital banking has accelerated recovery.

       According to the central bank, the current reduction in COVID-19 incidences in Kenya because of increased vaccination is expected to lead to a full recovery of the sector from the effects of the pandemic.