I&M Bank Reduces Lending Interest Rates Again
Nairobi, 13th February 2025
After reducing lending interest rates by 0.75% in the 4th quarter of 2024, I&M Bank has again reduced its Kenya Shillings lending interest rates further by 2.00% effective 01/03/2025. This reduction is subject to the applicable customer risk profile. This brings the total reduction in lending interest rates to 2.75% in recent months. This is in response to the Central Bank of Kenya’s (CBK) recent decision to lower the Central Bank Rate (CBR) and the Cash Reserve Ratio (CRR).
“This action reflects our commitment to making credit more accessible and affordable for both businesses and individuals. We understand the challenges our customers face in the current economic environment and this reduction will provide meaningful relief while supporting Kenya's economic growth.” said Gul Khan, CEO of I&M Bank Kenya.
This move aligns perfectly with I&M’s brand promise to always be 'On Your Side' and demonstrates our readiness to respond timely and positively to policy changes that benefit our customers.
About I&M Bank:
Notes to Editor
50 Years of I&M Bank
I&M Bank is celebrating its golden jubilee this year since the incorporation of the company in 1974. The entrepreneurial spark of the Founder and Chairman Emeritus ignited a vision of greatness that has seen I&M Bank grow from a community-based lending outfit to a regional financial services market leader.
About I&M Group PLC
I&M Group has a long-standing presence in the Kenyan market with presence in banking, insurance, and real estate. The Group offers a full range of banking and financial services covering Corporate & Institutional Banking, Personal & Business Banking, Bancassurance, Wealth Management, and Advisory services with presence spanning across 5 countries in Kenya, Uganda, Tanzania, Rwanda, and Mauritius.
I&M Bank was founded in 1974 as a financial services company and later converted to a commercial bank. It is now a wholly owned subsidiary of I&M Group Plc, a public company listed at the Nairobi Securities Exchange (NSE).
I&M Group PLC is regulated by the Central Bank of Kenya, Capital Markets Authority of Kenya, and the Nairobi Securities Exchange.
For more information visit www.imbankgroup.com
I&M Group PLC Media Contact
Seline Mak’Onyango
Ag. Head of Marketing & Communication
+ 254 719 088 187
