Banks’ profit margin receded to 6.44 percent in March as lenders responded to warnings from the Central Bank of Kenya (CBK) by lowering the average lending rate to 15.77 percent, in line with the regulator’s policy cut.
However, banks also lowered deposit rates to 9.33 percent, leaving them with a spread, or profit margin, of 6.44 percent, down from an eight-year high of 6.81 percent last November.
