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NCBA, Stanbic tap Sh1.8bn home loans
Absa Bank Kenya remains the largest primary mortgage lender borrowing from KMRC with an outstanding balance of Sh2.8 billion as of the end of December 2023 ahead of KCB which has a balance of Sh1.5 billion.
Tier I banks NCBA Group and Stanbic Bank Kenya borrowed Sh1.8 billion from the Kenya Mortgage Refinancing Company (KMRC) last year, adding to a growing list of firms tapping credit from the joint venture of the Treasury and private lenders, for onward lending.
Although both hold a 44 percent stake in KMRC, they had previously not tapped funding from the agency.
