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Non-performing loans earn NIC negative outlook rating

http://www.businessdaily...1748-pfvf2fz/index.html

"The bank’s bad debts had risen to Sh12.5 billion in the period ended June constituting 11.2 per cent of its total loan book of Sh112.1 billion."

"Ratio of bad debts at the NIC bank shot up last year from 3.9 per cent of its loan book at the end of 2014 driven by rising interest rates and an unfavourable business environment."

I wonder how many banks are hiding their true NPLs.

"One of the loan defaulters at NIC Bank is Mombasa-based businessman Tahir Sheikh Said who has outstanding loans of over Sh1.4 billion." >>> It's a pity that NIC has to work through the lethargic court system. By the time NIC can get orders to seize TSS assets, these assets may have been stripped!

"The bank also has bulky portfolio of foreign currency denominated loans, which are not affected by the interest caps. This signals a lower cut to the net interest margins meaning its profitability will not take a hard hit as is expected of other lenders." >>> Good news for NIC.