The ratio of loan defaults to total lending in the banking sector shrunk to a two year low of 15.3 percent in May from 17.5 percent a year ago following write-offs of bad debt and a growth in credit as interest rates declined.
The Central Bank of Kenya (CBK) data indicates that the non-performing loans (NPLs) portfolio stood at Sh694.8 billion in May, down from Sh728.2 billion 12 months ago.
