Bank losses on bond holdings surge to Sh66bn

DNCBK2712C

The Central Bank of Kenya in Nairobi. FILE PHOTO | NMG

Local banks’ paper losses from holding government bonds shot up more than five times last year to Sh66.23 billion as the lenders took a hit from rising interest rates in 2022.

Data from the Central Bank of Kenya (CBK) shows the mark-to-market losses from Kenyan government securities held for trading purposes soared from Sh12.1 billion in 2021.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.