Wednesday, August 31, 2016

CFC Stanbic becomes first bank to cut rates for existing loans


The CFC Stanbic Bank branch on Kimathi Street in Nairobi. PHOTO | FILE
The CFC Stanbic Bank branch on Kimathi Street in Nairobi. PHOTO | FILE 
By GEORGE NGIGI, gngigi@ke.nationmedia.com
CFC Stanbic has become the first bank to cut rates for existing loans following President Uhuru Kenyatta's decision to sign into law a Bill capping interest rates.
The new law caps loan interest rates at 4 per cent above the Central Bank rate.
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