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NCBA bows to pressure, cuts loan rates

John Gachora, Group Managing Director, NCBA. [File, Standard]

NCBA Bank has bowed to pressure from the Central Bank of Kenya (CBK), becoming the latest lender to slash its loan rates following the regulator's aggressive push to lower borrowing costs.

The move comes just days after NCBA Group Managing Director John Gachora argued that market conditions did not support a rate cut.

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