Kenya's biggest bank by assets, KCB Group, has restructured more than 110 billion shillings of its loans to customers and up to a quarter of its book could be affected by mid-June, its chief executive said.
The lender, which also operates in Tanzania, Rwanda, Burundi, Uganda and South Sudan, said last week it had changed the terms of loans worth 80 billion shillings, 15% of its portfolio, due to coronavirus-related hardships.
Kenya’s KCB bank sees a quarter of loans hit by coronavirus
Image: REUTERS/ THOMAS MUKOYA
Kenya's biggest bank by assets, KCB Group, has restructured more than 110 billion shillings of its loans to customers and up to a quarter of its book could be affected by mid-June, its chief executive said.
The lender, which also operates in Tanzania, Rwanda, Burundi, Uganda and South Sudan, said last week it had changed the terms of loans worth 80 billion shillings, 15% of its portfolio, due to coronavirus-related hardships.
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