Loans to customers declined from Sh57 billion to Sh47 billion out of which Sh31 billion was in default. Another state lander, Consolidated Bank sunk further into losses posting Sh540 million loss in 2018 down from a loss of Sh334 million in 2017. SEE ALSO :Shelter Afrique, HF Sh900m housing project readyDevelopment bank also owned by the government sunk from Sh9 million profit in 2017 to Sh5.8 million loss. Housing Finance posted a net loss of Sh598 million from a profit of Sh126 million last year after loans to customers declined from Sh49 billion to Sh43 billion. Consolidated Bank wants a strategic investor to pump in Sh3.5 billion and take a controlling position in the bank while National Bank recovery strategy is yet to be established.

Source: Standard Digital March 29, 2019 11:26 UTC