People Daily | by Lewis Njoka
Asset quality for listed banks deteriorated in the third quarter of 2020 with non-performing loans (NPL) rising by 2.6 per cent to 12.4 per cent up from 9.8 per cent reported same time last year.
An analysis of performance of the lenders by investment management firm Cytonn attributes the increase in bad loans to the effects of Covid-19 pandemic on the economy.
“The deterioration in asset quality was due to the coronavirus-induced downturn in the economy, which led to an uptick in the non-performing loans…
