Commercial banks’ loan book has shrunk for the first time in 20 months, pointing to slowed issuance of new loans as defaults rose to Sh586.2 billion at the end of July.
Central Bank of Kenya (CBK) data shows gross loan book slowed to Sh3.975 trillion in July from Sh3.98 trillion in the previous month to mark the first month-on-month decline in the loan book since December 2021.
