Few Kenyans get relief on loans as banks play hardball

Central Bank of Kenya Governor Patrick Njoroge. CBK has directed banks to offer relief to customers serving loans.

Banks have been slow to extend relief to distressed customers servicing loans resulting to just a fraction of the loans being restructured.

A Central Bank of Kenya (CBK) report notes that only 6,430 retail customers have received relief. This amounts to a meagre 1.2 per cent, or Sh9.9 billion worth of personal loans, whose payment periods have been extended.