[File, Standard]Bad loans on M-Shwari surged more than four times during the Covid-19 period as borrowers distressed by the pandemic struggled to service their loans. “Historically, our NPL ratio has been around 1.8 per cent on M-Shwari. NCBA runs M-Shwari, a mobile lending platform, jointly with telecommunications service provider Safaricom. In June, NCBA disclosed that the bank’s increase in loan impairments for the year was due to mobile loans. “We are taking a good number of measures, working with our partners Safaricom to stem these challenges,” said Gachora.

Source: Standard Digital October 02, 2020 01:01 UTC