Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Uniform cost of credit as base loan rates converge at 8.75pc
Kenya Bankers Association Acting General CEO Raimond Molenje speaks during the Launch of the Chora Plan financial literacy campaign on June 11, 2024 at the Serena Hotel in Nairobi.
The Central Bank Rate (CBR) and a new benchmark rate for pricing loans have converged at 8.75 percent, creating a single industry stand for assessing the cost of credit.
The Kenya Shilling Overnight Interbank Average (Kesonia), which is the overnight lending rate among banks that was launched in December, has settled at an average of 8.75 percent in recent weeks to match the CBR, resulting in a uniform loans reference rate.
