Sharp Daily
No Result
View All Result
Saturday, October 11, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

NCBA Worst Hit Lender By CBK’s Credit Framework

Domenic Ntoogo by Domenic Ntoogo
November 25, 2022
in News
Reading Time: 1 min read
NCBA Bank

NCBA Bank. [Photo/ Courtesy]

NCBA Bank is the most hit lender by the recent move by the Central Bank of Kenya (CBK) to remove defaulters from the negative listing on credit reference bureaus (CRBs).

This is after the bank was forced to write off more than KSh. 11 billion owed by M-Shwari and Fuliza borrowers for the past 10 years.

Out of the KSh.30 billion in non-performing loans on digital platforms as of October 2022, Fuliza and M-Shwari accounted for Ksh 22.5 billion and NCBA having the biggest share means they suffer the most.

According to NCBA’s chief finance officer David Abuya, the lender has begun communication with the debtors and will slash half of the money owned to encourage them to repay their loans.

RELATEDPOSTS

Kenya Pipeline IPO deadline extended to 2026 and what it means for the Privatization Agenda

October 9, 2025

Audit reveals gaps in Kenya’s unclaimed assets system

October 9, 2025

Read: NCBA Records Ksh12.8B In Net Profits

“Of the Sh15 billion, M-Shwari and Fuliza combined, we are accounting for Sh11 billion of that. The context is important; we are looking as far as back as 10 years against most digital lenders who have existed from the last year,” said Abuya.

‘’We have already instituted this change. We have already completed the reclassification of more than five million M-Shwari and Fuliza customers. The communications to each individual began going out on Wednesday.’’

The CBK sought to have lenders adopt the new framework of delisting the mobile borrowers from CRB with the aim of improving their credit standing.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Looming Crisis At Bamburi Cement As Earnings Plunge Further

Next Post

Business Owners In A Hurry To Install ETRS Ahead  Of Deadline

Domenic Ntoogo

Domenic Ntoogo

Related Posts

News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025

LATEST STORIES

Kenya Pipeline IPO deadline extended to 2026 and what it means for the Privatization Agenda

October 9, 2025

Audit reveals gaps in Kenya’s unclaimed assets system

October 9, 2025

What Happens to Your Funds During Pension Fund Liquidation in Kenya

October 9, 2025

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025

Valuation multiples

October 9, 2025

The economic and environmental gains of Kenya’s LPG shift

October 8, 2025

Equities, Bonds, or Fixed Deposits?

October 7, 2025

Kenya’s Inflation is creeping up, What it means for investors

October 7, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024