CRDB Bank shareholders follow proceedings during the 24th CRDB Bank Plc Annual General Meeting in Arusha on Thursday. PHOTO I FILBERT RWEYEMAMU
What you need to know:
Commercial banks charged off loans amounting to Sh43.346 billion until the end of March 2019 as they comply with the regulator’s directives on reducing bad loans. In financial terms, a charge-off is a debt that is deemed unlikely to be collected by the creditor because the borrower has become substantially delinquent after a period of time. However, a charge-off does not mean a write-off of the debt entirely. The ratio of NPLs to total gross loans dropped to an average of 10. 4 per cent in 2018 from an average of 11.9 per cent in 2017.
