Interest rates on bank loans race past 26pc in fresh review

The Central Bank of Kenya in Nairobi County on January 28, 2024. PHOTO | DENNIS ONSONGO | NMG    

By KEPHA MUIRURI More by this Author

Commercial banks are now charging more than 26 percent interest on loans in another round of credit repricing that ...

signals more pain for risky borrowers amid a surge in defaults.

Tier I lender Equity Bank has, for instance, set 26.74 percent as the lending rate for new loans to high-risk borrowers from a previous peak of 26.06 percent.

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