Sharp Daily
No Result
View All Result
Tuesday, May 27, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home Banking

Equity Bank lowers interest rates for third time in six months

Huldah Matara by Huldah Matara
February 13, 2025
in Banking
Reading Time: 1 min read

Equity Bank (Kenya) Ltd has announced a 300-basis-point (3%) reduction in interest rates on all new and existing Kenya Shilling-denominated credit facilities. The new rates take effect on February 13, 2025, for new loans and March 1, 2025, for existing loans.

This decision follows the Central Bank of Kenya’s (CBK) recent move to lower the Central Bank Rate (CBR) by 50 basis points to 10.75% and reduce the Cash Reserve Ratio (CRR) by 100 basis points to 3.25%. The reduction aims to ease borrowing costs for businesses and households while stimulating economic activity.

“We understand the financial pressures facing Kenyans today, and we’re committed to doing our part to ease that burden,” said Moses Nyabanda, Managing Director of Equity Bank Kenya. “This rate cut is about more than just lower interest rates; it’s about opening doors for Kenyans to invest in their businesses, support their families, and their livelihoods.”

This marks the third time in six months that Equity Bank has slashed its lending rate, following previous cuts in September and November 2024. The revised rates will include an Equity Bank Reference Rate (EBRR) of 14.39% plus a margin that varies based on customer risk profiles.

RELATEDPOSTS

Lessons from Equity Bank’s M-Pesa scandal

May 22, 2025

The impact of interest rates and inflation on investments in Kenya

March 6, 2025

Lower interest rates are expected to boost business expansion, reduce operational costs, and create jobs. For households, lower rates will mean reduced loan repayments, increased disposable income, and greater consumer spending.

CBK’s February 5, 2025, decision to reduce the CRR is expected to increase liquidity in the banking sector, further lowering borrowing costs and promoting credit growth in the private sector.

Equity Bank reaffirmed its commitment to supporting financial inclusion and economic growth. “By passing on the benefits of reduced interest rates, Equity Bank aims to create an environment where businesses can expand, employment opportunities increase, and communities thrive,” the bank stated.

Previous Post

Kenya Revenue Authority (KRA) dismisses 19 staff in a renewed anti-corruption drive

Next Post

What an interest rate cut means and its economic implications

Huldah Matara

Huldah Matara

Versatile multimedia journalist with a keen interest in compelling stories that resonate with my audience. Reach out on huldahmatara12@gmail.com

Related Posts

NCBA Bank
Banking

NCBA group records 3.4% profit growth in Q’1 2025

May 23, 2025
Banking

Stanbic bank Kenya posts 16.6% profit decline in Q1 2025

May 9, 2025
Banking

Kenya’s risk-based credit pricing: Five years on

April 24, 2025
Banking

CBK introduces green finance taxonomy to guide climate risk management in banking

April 4, 2025
Banking

The impact of mobile banking on Kenya’s economy

February 19, 2025
Banking

Absa Bank Kenya cuts lending rates again to spur private sector growth

February 14, 2025

LATEST STORIES

What Africa’s Great Migration Can Teach Modern Travelers

May 27, 2025

Government reverses plan for parents to pay exam fees

May 27, 2025

Ripple effects of WFP’s cash transfer cuts on Kenya’s rural economy

May 27, 2025

Kenya’s textile industry: Weaving a new future

May 27, 2025

The era of social commerce is here

May 27, 2025

Elgeyo Marakwet leaders demand action on banditry

May 26, 2025

The rise of Kenya’s blue economy: A new frontier for investment

May 26, 2025

World Bank: Kenya’s growth at risk from debt and poverty

May 26, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024