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Why banks are seeking overhaul of loan pricing models
The Central Bank of Kenya (CBK) Governor Dr Kamau Thugge when he appeared before the Committee on Finance and National Planning at Continental House Nairobi on March 14, 2024
Commercial banks are in talks with Central Bank of Kenya (CBK) for an overhaul of their loan pricing models to come up with a common base lending rate amid concerns that they are not cutting interest rates in line with reducing central bank rate (CBR).
The lenders have sent proposals to CBK Governor Kamau Thugge, arguing that the current models are sticky and have made it difficult for them to adjust rates downwards as soon as the regulator gives the cue.
