Bank To Restructure Loans Amounting To Ksh 8 billion

Standard Chartered Bank Kenya

Standard Chartered has announced readiness to restructure loans amounting to a total of ksh 8 billion.

Led by Standard Chartered CEO, Kariuki Ngari, the lender is taking the move to enhancing the cushion programme set to make Kenyans feel easy during the COVID-19 pandemic.

In total commercial banks will restructure loans amounting to a total of ksh 176 billion out of which ksh8 billion is from Standard Chartered as revealed by the Central Bank reports.

As a bank, we believe we have two priorities during this pandemic, protecting our staff, and supporting our clients and communities. In response to the impact of Covid-19, we have proactively reached out to our retail, commercial and global clients to understand the effects of the pandemic to their businesses, and assess areas in which we can offer help," said Mr Ngari
 Standard Chartered had already given customers loan extension of up to 1 year to both personal and mortgage borrowers. In addition Credit card users can also enjoy up to 12 months repayment relief.

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