VIDEO: CFC Stanbic and KCB announce drop in rates for new and current loans

We kick off our bulletin tonight with good news…now banks have this evening cut interest rates on loans to 14.5 per cent for both new and existing facilities. The Kenya bankers association announced that all banks have agreed to the move hours after CFC Stanbic and KCB group announced the new rates approved by president Uhuru Kenyatta last week would apply to old loans. The announcement is a welcome relief for borrowers following a week of anxiety as Denis Otieno now tells us.