Banks making too much money, says CS Rotich

Treasury Cabinet Secretary Henry Rotich. [Photo: BEVERLYNE MUSILI/STANDARD]

Commercial banks are making too much profit at the expense of borrowers, National Treasury Cabinet Secretary Henry Rotich has said.

While he does not support the legislation of interest rates as proposed in the amendments that are awaiting President Uhuru Kenyatta’s assent, the CS told Weekend Business that lenders have a lot of scope to cut interest rates.