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Browsing: Credit
- Demand for credit remains high from financially-stressed consumers.
- Banks and lending institutions had emerged as crucial players in Kenya’s recovery journey.
- According to the Central Bank of Kenya, the NPL rate stood at 14.0% at the end of June.
A new report now indicates that the Covid-19 pandemic is continuing to have an impact on the Kenyan credit market, with banks and lending institutions having to adjust their operations to the current economic climate.
Although demand for credit remains high from financially-stressed consumers, the latest TransUnion Q2 2021 Kenya Market Analytics Report shows a decline in the number of active accounts, clients and new accounts opened compared to the previous quarter.
Ongoing consumer demand for credit saw the value of new loans disbursed during the second quarter increase by 2.5% from the first quarter, from Sh486.6 billion to Sh499.0 billion.
This was driven largely by growing demand for the M-Pesa …