The weakening of the shilling lifted Absa Bank Kenya’s debt load by Sh4.2 billion to Sh24.02 billion in the 12 months to December 2023, despite the lender not making new foreign currency borrowings in the period.
The lender says in its annual report for 2023 that the foreign currency impact on its debt stood at Sh4.51 billion, up from Sh837 million in 2022.
