Consolidated Bank: We are no longer lending recklessly

Consolidated Bank Chief Executive Officer Thomas Kiyai

Consolidated Bank, which has operated without a licence for months now, says it is no longer in breach of capital requirements set out by the Central Bank of Kenya (CBK).

Reacting to last month’s parliamentary report, the bank’s chief executive says the lender has moved to deal with the issues raised by legislators. “We are not recklessly lending and we are not in breach at the moment. On the issue of the licence, our understanding is that when we apply for a licence you assume you have it until you are advised otherwise,” Chief Executive Officer Thomas Kiyai told The Standard in an interview.