Co-op Bank lowers cost of old loans to 14.5pc

Kenya's third largest lender by assets Co-operative Bank has lowered interest rates for old loans to 14.5pc, a day after after KCB and CFC and Chase Bank.

Co-op was the first bank to announce lower interest charges for new loans after President Uhuru Kenyatta signed a Bill capping interest rates at 4 per cent above the central bank rate.