A Sh31.4 billion bad debts load is among the priority items that KCB Group #ticker:KCB will have to grapple with in the planned merger with the National Bank of Kenya (NBK) #ticker:NBK , the lender has told shareholders in a circular revealing details of the ongoing buy-out transaction.
NBK’s bad debts have over the years piled up to nearly half of the bank’s loan book of Sh60.4 billion, pushing the lender into losses and eating into its capital reserves.
