Eight tier-1 banks including Equity, KCB and Stanbic have increased their loan-loss provisions by 45.8 percent to Sh62.5 billion in the third quarter of this year in anticipation of massive defaults due to a tough operating environment.
In the third quarter of 2022, the eight large lenders put aside Sh42.9 billion as insurance cash against potential defaults, or what is known as loan-loss provision.
