Latest data by the Central Bank of Kenya (CBK) shows the the default rate grew to 13.6 per cent in August compared to 13.1 in June. This is the highest since 2007 when the default rate was 14.1 per cent. The real estate sector reported the highest rate of NPLs at Sh4.7 billion on low occupancy rates and rent defaults. 4 billion of total loans restructured in June, representing 29 per of the total loan book. Of this, personal loans worth Sh271 billion or 33 per cent of the loan book in the sector had their repayment period extended.

Source: The Star October 01, 2020 00:56 UTC