Kenya lenders plan to step up asset seizures over bad loans
Data by the Central Bank of Kenya shows that the banking sector’s gross non-performing loans increased by 25.67 percent to $4.37 billion in November 2023, from $3.48 billion in the same period in 2022. PHOTO | SHUTTERSTOCK
Kenyan banks plan to step up asset seizures as part of a strategy to recover overdue loans, the Parliamentary Budget Office (PBO) has said, pointing to more pain for distressed borrowers.
The PBO disclosed that lenders have indicated “intentions” of attaching borrowers’ collateral as part of the intensified credit recovery plan.
