Car and home owners defaulted on loans totalling Sh27.8 billion in the 12 months to September last year, giving a peek into the nightmare that the two sectors have become for banks amidst the Covid-19 pandemic.
The Central Bank of Kenya (CBK) quarterly economic review shows the transport sector, which was affected by Covid-19 curbs including curfews and cross-border lockdowns, saw a 60 percent jump in bad loans of Sh16.4 billion from a similar period in 2020.
