Top 10 Most Expensive Banks In Kenya

The Central Bank of Kenya has listed the top 10 most expensive banks in Kenya in terms of the interest rates they offer on loans. The majority of the banks in this category are big banks, and most of them have been approved for risk-based lending.

Credit Bank, which has an average loan rate of 17.6 percent, tops as the most expensive bank in Kenya followed by Middle East Bank which lends at 16 percent. Sidian follows closely at 14.9 percent.

Related Content: Top 29 Kenyan SACCOs: How Technology Is Transforming Saccos And Challenging Banks

Read More:

• CBK Launches Quick Response Code For Kenyan Banks
• The Disruption of Tech On Money: The Emergence Of Two Banks And The Future Of Money
• Cheques From Different Banks To Clear On the Same Day

Here is the list of the top 10 most expensive banks in Kenya:

1. Credit Bank – 17.6%
2. Middle East – 16%
3. Sidian Bank – 14.9%
4. CIB – 14.7%
5. Victoria – 14.5%
6. Equity – 14.1%
7. M-Oriental – 14%
8. Kingdom – 13.8%
9. SBM Bank – 13.7%

Related Content: Here Are The Top 10 Cheapest Banks In Kenya

Absa Bank Kenya’s MD has said that the bank’s SME growth agenda will be on for years in Kenya and expressed the bank’s commitment to continue supporting them to bring their possibilities to life, thereby furthering the development and prosperity of Kenya and its people.

He said: “Small and medium enterprises are the economic bedrock of Kenya’s economy, contributing approximately 50% of GDP and more than 80% of employment. My market visit today is a demonstration of our commitment as Absa to support the SME sector with targeted propositions that are relevant and responsive to emerging customer needs and expectations through financing and non-financial support.”

Related Content: Absa Bank Kenya Hosts KipKeino Classic Athletics Event To Promote Health, Economic Growth, And Community Engagement