KCB Bank Kenya reduces base lending rate to 14.6 percent

KCB Bank Kenya has become the second large lender to publicly disclose a reduction in its base interest rate following the recent cuts in the benchmark rate by the Central Bank of Kenya (CBK).

In a statement, KCB said it has cut its base charge on loan by a percentage point to 14.6 percent, with the announcement coming a day after Co-operative Bank of Kenya reduced its rate by two percentage points to 14.5 percent.