This suggests that borrowers who were constrained by the crisis in the early days of the pandemic have started servicing loans. Of the 31 per cent of the loan book, or Sh171 billion Covid-19 accommodated or rescheduled loan book, Sh59 billion has resumed repayment, with Sh5 billion fully repaid and Sh3 billion behind schedule in repayment. It said that Sh66 billion is expected to resume repayment within six months by September 30. Other lenders that recorded a significant drop in loan default include Co-operative Bank Group by 50 basis points, Stanbic Bank by 35 basis points and Stanchart by 20 basis points. Apart from profits, bank deposits and loan disbursement went up in Q1, an indication of money movement in the market.

Source: The Star May 30, 2021 01:52 UTC