Bad bank loans hit record 15.5pc as CBK pauses rate increases

Non-performing loans (NPLs) have hit a new multi-decade high of 15.5 percent of the banking industry's total lending as private sector credit growth softens.

Central Bank of Kenya (CBK) data shows the industry’s ratio of gross NPLs hit a new high in 12 months to February 2024, rising from 14.8 percent in December last year to set the highest rate since mid-2006.