Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
High interest rates gift top lenders an extra Sh61bn
I&M Bank plc Regional CEO Kihara Maina makes his remarks during the banks release of the 2024 Financial Results (FY2024) at the Stanley Hotel on March 26, 2025.
Photo credit: Francis Nderitu | Nation Media Group
Top Kenyan banks pocketed an additional Sh61 billion from lending last year, tapping the gains of a high interest rates environment to increase their earning margins even as they countered higher costs to keep customer deposits.
A Business Daily analysis showed that the net income from interest charges by local units of nine tier I banks listed on the Nairobi Securities Exchange (NSE) surged 19.3 percent to Sh376.4 billion in 2024, up from Sh315.4 billion in the previous year.
