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Banks are headed for a rough time after restructuring loans worth Sh844.4 billion, nearly a third of the loans in their books by the end of June, according to the Central Bank of Kenya (CBK).
This will eat into their profitability, with most lenders putting aside money as insurance in case of defaults. Already, a number of banks such as Equity and NCBA have recalled their dividends as they shored up their arsenal in case of a jump in bad loans.
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