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East African banks raise bad loans provision to cushion distressed clients
Wednesday April 07 2021
Summary
Banks balance sheets look unfamiliar as lenders count the cost of setting aside large sums of money to absorb shocks of loan defaults.
According to a report, Kenya and Ghana are the countries where banks look to have done precautionary provisioning as judged by the 2020 loan charge-off compared with their five-year average charge-off.
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Covid-19 pandemic has seen the world confront its biggest health crisis this century, posing one of the most disruptive periods to businesses, forcing banks to empathise with clients’ lost livelihoods and businesses by easing off on loan payment demands