Defaults in the banking industry rose to Sh441.8 billion in the eight months to August, reversing a decline in the non-performing debt that had been seen in recent months.
The NPLs rose to peak at Sh444.2 billion in February on the economic fallout from the Covid-19 pandemic and had recently shrunk to lows of Sh433.3 billion before the August spike, according to Central Bank of Kenya (CBK) data.
