Top 10 Most Expensive Banks In Kenya

By Juma / Published May 30, 2023 | 10:27 am

KEY POINTS

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.

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.

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

Credit Bank – 17.6%
Middle East – 16%
Sidian Bank – 14.9%
CIB – 14.7%
Victoria – 14.5%
Equity – 14.1%
M-Oriental – 14%
Kingdom – 13.8%
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.”

About Juma

Juma is an enthusiastic journalist who believes that journalism has power to change the world either negatively or positively depending on how one uses it.(020) 528 0222 or Email: info@sokodirectory.com

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