Equity Bank, Kenya’s largest retail lender by customers, has been ranked the country’s most expensive bank.
This indicates the Nairobi Securities Exchange-listed firm’s huge pricing power despite competition from large and small rivals.
Taking a Ksh. 1 million, one-year unsecured personal loan from Equity now costs a total of Sh131,807, including charges and interest.
This is according to www.costofcredit.co.ke, a portal that was created by the Kenya Bankers Association (KBA) and the Central bank of Kenya to boost transparency of loan pricing. Read more; bit.ly/2RzMkdO