Defaults

Commercial banks recorded an 11.58 per cent increase in pre-tax profits to Sh181.1 billion in the first eight months of the year, defying an environment of rising loan defaults and low willingness to borrow. Central Bank of Kenya (CBK)…

In a yard in Nairobi, cars are piled up waiting for bids at auctions where there have not been enough buyers recently, a growing problem in Kenya as loan defaults hit a new 18-year high in August. The resilient economy and expensive…

Commercial banks reduced their lending to semi-governmental institutions by 14.7% in July compared to the same period last year, the largest decline in four years. This comes as state-owned companies struggle to service debts owed to…

The value of non-performing mortgage loans in Kenya reached a record high of Sh40 billion in December 2023 on the back of high interest rates and tough economic conditions faced by borrowers. The value of non-performing loans (NPLs) by…

Economy State defaults on pension remittance for six months Monday April 08 2024 Controller of Budget Margaret Nyakang’o. FILE PHOTO | FRANCIS NDERITU | NMG A cash crunch at the National Treasury saw the government skip…

Economy Loan defaults up 26 percent to Sh634bn Thursday January 25 2024 GRAPHIC | STANSLAUS MANTHI | NMG The stock of bad loans held by Kenyan banks grew 26 percent or Sh129.8 billion in the one year to October 2023, revealing a…

News Ethiopia defaults on Eurobond repayment Tuesday December 26 2023 National Bank of Ethiopia Governor Mamo Mihretu speaking during a past interview. PHOTO | X via @mihretu Ethiopia became Africa's third default in as many…

Companies Top banks set aside Sh62bn, anticipate record defaults Tuesday November 28 2023 Eight tier-1 banks have increased their loan-loss provisions by 45.8 percent to Sh62.5 billion. PHOTO | SHUTTERSTOCK Eight tier-1 banks…

Economy Hustler Fund defaults hit Sh3 billion in nine months Tuesday August 22 2023 President William Ruto during the Launch of Hustler Fund at Green Park, Nairobi. PHOTO | PCS Borrowers on the State-backed financial inclusion…

Markets and finance Banks lowered mortgage terms for a year, raising interest on default Tuesday, May 23, 2023 Kenyan banks on average cut mortgage terms by more than a year to 10.9 years, but increased interest rates. file…