The reality is that Banks will stick to (no-risk) T-Bills and T-Bonds.
@VVS can die, go broke, have a fake title deed OR buy KQ shares. So the bank takes a risk.
GoK cannot "die" in the same way. Plus if GoK 'defaults' all KE banks are in big shit. Typically a gov't will "print" money to repay its LCY liabilities but of course that also creates inflation. See Zimbabwe.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett