This archive report was first published on 12 June 2020.
On June 12, 2020, Absa Bank Kenya announced a significant restructuring of its loan facilities, impacting over 50,000 customers.
The bank's loan relief programme covers various credit types, including personal loans, mortgages, asset financing, and business loans.
Under this programme, customers are eligible for an initial relief of up to three months, which can be 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.
During the repayment holiday, interest will continue to accrue, and the customer's loan repayment period will be extended to accommodate the relief.
