National Bank of Kenya’s non-performing loans have risen by 124 per cent to Sh. 15 billion in the first quarter of 2016 compared to Sh. 6 billion recorded in the same period last year.
This was revealed in the bank’s quarter one financial results which also showed that the bank had posted a 33 per cent drop in net profit to Sh. 334.6 million compared to Sh. 495 million recorded the previous year.
The bank’s total assets fell to Sh115 billion compared to Sh117 billion recorded same period in 2015 and Sh125 billion as at the end of December 31, 2015.
In March, NBK had reported a shocking full-year loss of Sh1.2 billion.