Lender Restructure Loans Worth ksh 80 billion

KCB CEO, Joshua Oigara
KCB CEO Joshua Oigara 

Kenya Commercial Bank (KCB) Thursday announced to have restructured loans wirth ksh 80 billion during the COVID-19 pandemic.

The bank's move was to give relief to both individual and business customers with unpaid loans and are struggling with repayments as a result of the virus impact.

Being the largest lender in Kenya and the whole of East Africa, KCB restructured loans make up to 45 per cent of the total restructured loans

Other lender who restructured their clients loans include NCBA,Cooperative Bank, Equity Bank among others regulated by the Central Bank.

Although the number of borrowers asking for loans to be restructured is low, Central Bank is optimistic that its going to rise in the coming months if the COVID-19 pandemic will persist.

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