Absa Bank Kenya has announced that it has restructured over 50,000 loan facilities amounting to over Ksh 54 billion.
In a statement, the bank says loan relief programme covers all types of credit types including personal loans, mortgages, asset financing and business loans among others. Under this programme, customers qualify for an initial relief of up to three (3) months which can be further reviewed on a case by case basis.
More than 90% of the restructured loans are in the personal and small business segments with the remainder split between mid-sized companies and large corporates.
The bank further adds that during the repayment holiday, interest will continue to accrue on and the customer’s loan repayment period is extended to accommodate the relief.