Nairobi – Kenya Commercial Bank (KCB) became the first
institution on Monday to lower its lending rates following last week’s
reduction of the Central Bank’s benchmark tariff.
KCB announced that its base lending rate would reduce from 22 percent
to 19 percent from October 1, while its mortgage base rate would drop
by a percentage point to 18 percent.
The regional bank which is Kenya’s largest in terms of asset size and
profitability said that the downward revision of its base lending and
mortgage rates reflects the improvement in the overall cost of credit
and the easing of inflationary pressures.
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