May 21, 2020 / 8:56 AM / 16 days ago

Kenya's KCB bank sees a quarter of loans hit by coronavirus

NAIROBI, May 21 (Reuters) - Kenya’s biggest bank by assets, KCB Group, has restructured more than 110 billion shillings ($1.03 billion) of its loans to customers and up to a quarter of its book could be affected by mid-June, its chief executive told Reuters.

The lender, which also operates in Tanzania, Rwanda, Burundi, Uganda and South Sudan, said last week it had changed the terms of loans worth 80 billion shillings, 15% of its portfolio, due to coronavirus-related hardships.

$1 = 106.8000 Kenyan shillings Reporting by Duncan Miriri; Editing by Edmund Blair

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