Equity Bank and Barclays have some of the most expansive loans in Kenya. This is according to data from the Central Bank of Kenya.
Barclays Bank has the most expensive loans among large banks lending at an average 19.2 per cent followed closely by Equity Bank at 19 per cent.
The two lender are charging above the industry average of 18.2 per cent and nearly two percentage points above their fellow large lenders – Standard Chartered, Co-operative and KCB.
These three lenders have an average lending rate of average 17.3 per cent.
Small lender First Community Bank and mid-sized Citibank are the cheapest at an average 11.7 per cent, said the CBK.
The data showed short-term individual borrowers with the National Bank of Kenya were the hardest hit paying interest of 25.2 per cent.
