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Equity Bank Limited has reduced interest rates for the second time in six months. The bank’s new lending rate of 17.39% follows the CBK monetary policy committee’s decision to cut the base lending rate to 12%. The new rate, which takes effect from the 18th of November, applies to all new and existing Kenya shilling-denominated credit facilities. CEO Dr. James Mwangi says this reduced rate will benefit both businesses and households by creating access to credit that he hopes will drive economic growth.
Equity Bank lowers interest rates for the second time in six months
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