Central Bank of Kenya on Haile Selassie Avenue in Nairobi. [Wilberforce Okwiri, Standard]
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Kenyan units of global banking giants are offering the country’s most competitive lending rates, using their expansive capital bases to undercut domestic rivals and capture prime borrowers in the country.
A review by The Standard of the latest Central Bank data shows Citibank NA Kenya, part of US-based Citigroup Inc, offered loans at an average rate of 10.59 per cent in July—the lowest among 38 commercial banks in the country.
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