Defaulted loans in the banking sector jumped Sh40 billion in the two months to February on the back of 16 accounts that masked the increased repayments in an economy recovering from Covi-19 economic hardships.
The share of loan defaults increased to 14 percent at the end of February from 13.1 percent in December, giving the impression of a sector that was facing a return of mounting defaults witnessed at the peak of pandemic hardships in 2020.
