[David Gichuru, Standard]Loans worth Sh28.4 billion that were restructured have gone bad after borrowers failed to service them, recent data from the Central Bank of Kenya (CBK) shows. Of the Sh1.7 trillion loans that were restructured, more than two-thirds had matured and been repaid. Read MoreCentral Bank of Kenya Governor Patrick Njoroge noted that the remaining Sh569.3 billion were outstanding as of the end of February. “You can see that the problem here is quite contained.”These loans fed into the growing stream of non-performing loans (NPLs), loans that have not been serviced for over three months, following the adverse effects of Covid-19. By end of February, NPLs as a percentage of total loans stood at 14.5 per cent from 14.1 per cent last December.

Source: Standard Digital March 31, 2021 06:56 UTC