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KCB Group says it will start using a new loan pricing system as required by the Central Bank on December 1. This will make the bank one of the first major lenders to adopt the new rules, which are meant to make loan costs change more responsive to monetary policy changes.
The move by the tier one lender which is Kenya's largest bank by assets comes as pressure mounts on the country's 38 commercial banks to comply with the Central Bank of Kenya's (CBK) December deadline for the revised Risk-Based Credit Pricing Model (RBCPM), aimed at increasing loan pricing transparency in a sector long criticised for slow transmission of rate cuts to borrowers.
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