KCB Bank Kenya has restructured facilities worth over Sh 115.1 billion to cushion customers against the effects of the COVID-19 pandemic.
The debt-relief measures have seen KCB Bank customers apply for their loans to be restructured, credit lines expanded and loan tenures extended to keep them financially afloat.
Since mid-March, KCB Bank has approved the restructuring of Sh 91.3 billion worth of corporate loans and an additional Sh 20.4 billion in loans to mortgage customers. A further Sh 3.4 billion for retail customers has also been approved.
KCB Group CEO and MD Joshua Oigara said customers can still seek deferment of loan payments on their personal, business, corporate and housing loans for disruptions caused directly by the COVID-19 pandemic.
“We are therefore offering relief to our customers, upon application so that they are able to weather this storm that was unforeseen the world over. We believe this will not only cushion businesses but create a multiplier effect that will ultimately help to save jobs,” said Mr Oigara.
