Non-performing loans on the rise
02 July 2013, 10:37
Nairobi - Businesses and households are suffering under a high interest rates regime that has persisted since the third quarter of 2011, leading to a reported steep rise in the volume on non- performing loans in the month of May.
According to Business Daily reports Central Bank of Kenya (CBK) data shows that non-performing loans rose by KES 10 billion or 14.2 per cent to KES 80.3 billion between March and May this year – the highest in six years.
Commercial banks officially classify loans as non - performing if they are not serviced for a period exceeding three months.
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