Outstanding banking sector loans to private households dropped by Sh13.7 billion in December last year, a rare downturn highlighting the impact of the high interest rates resulting from a series of policy rate hikes by the Central Bank of Kenya (CBK) last year.
The loans extended to private households by commercial banks, saccos, and microfinance banks, have been rising consistently for the last 14 months, but took a rare decline in December, falling 1.14 percent, data from CBK shows.
