Kenya’s Central Bank fines 11 banks for lending, capital and governance breaches

Kenya’s Central Bank (CBK) has fined 11 commercial lenders for violating lending, capital, and governance rules in 2024, as it steps up pressure on the sector to align with its policy push for cheaper credit. The regulator collected KES 191 million ($1.48 million) in penalties from banks and forex bureaus in the year to June, down from 12 institutions penalised in 2023, according to its…