Barclays Bank saw its profit before tax grow 40% in the 3rd quarter of 2012 in a period where banks enjoyed charging high interest rates on new loans borrowed by customers. CBK has since reduced the base lending rate to 11%.

Banks still have their base lending rates at between 18.5% and 22.5% despite the Central Bank lowering the base lending rate (CBR) to 11% beginning of November.

Citibank has lowered its base lending rate to 15% down from 19%, a week after Central Bank lowered the CBR by 200 basis points to 11%. Inflation drop (4.14%) and a stable currency advised CBKs decision.