Last year, private sector credit grew at a snail’s pace of 3.2 per cent, the lowest over the last 10 years. SEE ALSO :Korean internet sensation joins Kenya Open bonanzaThe result is that banks are barely making money off interest on loans. Income from loans by Standard Chartered reduced from Sh13.5 billion to Sh13.1 billion, while NIC’s reduced from Sh13.1 billion to Sh12.3 billion. However, with virtually all banks lending to the State, returns are lower, leading to flat interest growth. This will give a better view of an SME through its directors, while also developing customised SME scorecards to be used by banks to lend to this sector.

Source: Standard Digital March 23, 2019 21:06 UTC