Commercial banks are lobbying the Central Bank of Kenya (CBK) ,to use profit after tax as a measure to calculate licence fees and drop its proposal to use revenues, a change that will see the regulator forgo collecting billions.
Kenya Bankers Association (KBA), the industry’s lobby group, argues that basing permit fees on gross annual revenue (GAR) as proposed by CBK unfairly impacts banks that report high revenues but have high operational costs.
