The 2020 pandemic may have been the biggest economic shock to hit the country in its history, with most businesses being forced to shut down or operate on limited hours with a dusk-to-dawn curfew.
Banks, nevertheless, showed resilience in the face of the once-in-a-lifetime shock, growing their loan book by Sh225 billion in the calendar year, even as loan impairments hit Sh90.8 billion during the period.
