Kenyan banks tighten rules to cover risks in real estate
From left: NCBA Group MD John Gachora, KCB Group CEO Joshua Oigara and Kenya Bankers Association CEO Habil Olaka during the launch of a mobile loan product in 2019. FILE PHOTO | NMG
Borrowers will be required to provide additional security in the event the value of collateral on loans, mainly land and building, depreciate during the loan period to cover for default
Kenyan borrowers with collateral whose value has depreciated will now be required to provide additional security as banks move to tighten lending terms.
