Saturday, June 13, 2020

Absa Bank Restructures Loans Amounting to ksh 54 billion

    June 13, 2020   No comments

Absa Bank Kenya MD Jeremy Awori
Jeremy Awori, Managing Director Absa Bank Kenya 

Absa Bank Kenya announced Friday to have restructured loans amounting to ksh 54 billion to cushion borrowers against the negative effects of the Coronavirus pandemic.

The bank which recently was trading as Barclays Bank of Kenya has restructured up to 50,000 loan facilities this hard time as customers were badly hit by the virus negative impact.

Majority of the loan facilities restructured were personal loans. Other credit facilities restructured include; mortgages, asset finance,business loans and credit cards.

Absa have been at the forefront in helping the government in fighting COVID-19. The bank even opened a special account for any individual, company or organisation to contribute money towards the fight against the virus spread.

The lender have also been distributing umbrellas to police stations all over Kenya to help police officers to do their jobs well even during this rainy season.

Mwabaya Katana

About Mwabaya Katana

Mwabaya is an experienced and talented finance content creator based in Kenya. He is the Founder of Loans Kenya Blog.

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