GT Bank appeals Sh33mn CAK fine over ASL dispute
The dispute stems from a complaint lodged in October 2024 by ASL, a Kenyan manufacturer and distributor in the construction and industrial sectors. The firm accused the lender of unfair treatment in the management and renewal of its credit facilities. Kenya breaking news | Kenya ..
✨ Key Highlights
Guaranty Trust Bank is appealing a Sh33.18 million fine imposed by the Competition Authority of Kenya (CAK) over alleged false and misleading representations in its dealings with customer ASL Limited.
- The fine amounts to Sh33.18 million, with an additional direction to refund Sh13.21 million to ASL.
- Key organizations involved are Guaranty Trust Bank and the Competition Authority of Kenya (CAK), with the dispute originating from a complaint by ASL Limited.
- The dispute centers on alleged unfair treatment regarding the management and renewal of ASL's credit facilities, which dated back to their banking relationship starting in 2001.
Continue Reading
Read the complete article from Capital Business
Part of the Day's Coverage
GT Bank, Ombudsman, Manyanja Mall Shape Kenyan News - February 2026
Guaranty Trust Bank is appealing a Sh33.18 million fine imposed by the Competition Authority of Kenya over alleged false and misleading representations in its dealings with customer ASL Limited. The Commission on Administrative Justice, the Ombudsman, has expressed concern over a Sh30 SMS fee charged to Kenyan students and parents for accessing senior secondary school placement results. MRE Real Estate has launched a Sh400 million mixed-use commercial mall, Manyanja Mall, in Eastlands, Nairobi, aiming to capitalize on the area's growing retail demand.
