Foreign-owned banks operating in Kenya are offering significantly cheaper loan rates compared to local rivals, leveraging their substantial capital to attract prime borrowers. A review of Central Bank of Kenya data reveals that these global financial institutions are undercutting domestic banks.

• Citibank N.A. Kenya offered loans at an average rate of 12.59% in July, marking the lowest among 37 commercial banks in the country.
• The Central Bank of Kenya on Haile Selassie Avenue in Nairobi is the source of the data.
• The competitive rates are attributed to the expansive capital bases of these foreign banks, allowing them to capture leading borrowers.