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Barclays sees up to 20pc revenue dip on interest cap law

Barclays Bank of Kenya managing director Jeremy Awori (left) and Board Chairman Charles Muchene during the bank’s Annual General Meeting at Barclays Sports Club in Nairobi on April 28, 2017. PHOTO | SALATON NJAU | NMG

By  JIMMY MBOGOH

Barclays Bank of Kenya #ticker:BBK (BBK) is projecting a 15 to 20 per cent drop in revenue for this year, attributing the trend to the law capping interest rates.

This comes just days after another NSE-listed lender, Kenya Commercial Bank #ticker:KCB (KCB), said its net interest margins will fall by at least 1 per cent in 2017 owing to the same.

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