Borrowers have defaulted on extra Sh82.9 billion bank loans in just four months, signalling the economic struggles that have seen the share of non-performing loans hit a 16-year high.
Latest Central Bank of Kenya (CBK) data show the non-performing loans (NPLs) ratio— the proportion of loans for which no interest or principal has been received for at least three months—hit 14.9 percent in May from 13.3 percent in December, as the stock of bad loans piled.
