Eight commercial banks raised interest rates in the year to August, placing them on a collision course with the Central Bank of Kenya (CBK), which has threatened daily fines on lenders that deny borrowers lower interest charges.
The overall weighted average lending rates of DIB Bank Kenya, Consolidated Bank of Kenya, Co-operative Bank of Kenya, Kingdom Bank, UBA Kenya Bank, Diamond Trust Bank Kenya, Premier Bank Kenya, and Access Bank Kenya have increased over the past year, according to fresh CBK data.
