The solid credit history would be lost and, consequently, financing options would be reduced. Loan-by-loan modifications can help some, but they require substantial time and effort. Where appropriate, an efficient, systematic approach lets servicers reach more of these borrowers and prevent more foreclosures. Furthermore, as noted above, standards for dealing with problem loans may help make more capital available for potential borrowers.
I am pleased to announce that Mr. Samwiri Njuki, MD Orient Bank has been re-elected as Chairman UBA and Mr. Nick Mbuvi, MD Barclays has been re-elected Vice Chairman of UBA. Congratulations. Let me conclude by once again thanking you for being here this evening. May God bless you all. 2  BIS Review 28/2006