This bumpiness has led to layoffs, reduced cash flow for businesses and forced unpaid leave, which have set the stage for loan defaults.
The CBK says loans worth Sh273 billion had been restructured between mid-March and end of April.
Equity has restructured Sh92 billion loans, equivalent to about 25 per cent of its net loans at the end of last year, as the lender seeks to cushion customers who have been hit by the coronavirus crisis.
The relief, which is being determined on a case-by-case basis, also includes extension of loan terms to cut monthly instalments and repayment breaks on the full or part of the credit.
