PCEA to sell 70-acre to clear Sh0.5b bank loan

Church and bank reaches an out-of-court settlement in a dispute over a Sh0.5 billion loan the church took from a bank four years ago. [Photo by Joackim Bwana/Standard]

A church and a bank have reached an out-of-court settlement in a dispute over a Sh0.5 billion loan the church took from a bank four years ago.

The Presbyterian Church of East Africa and the National Bank of Kenya have been embroiled in a legal battle for the past four years over the Sh519 million loan.