Spire Bank’s defaulted loans have overtaken its net loan book, highlighting the meltdown at the small lender, which now needs at least Sh4.14 billion to stabilise its operations.
Gross non-performing loans stood at Sh2.64 billion in the half-year ended June – a jump from Sh2.69 billion a year earlier — and raced above net loans and advances to customers, which dropped by 28 percent to Sh2.36 billion from Sh2.97 billion
