I&M Bank CEO Gul Khan has commended Central Bank’s recent move to lower interest rates, noting that the reduction will enhance productivity and contribute to the overall growth of the Kenyan economy.
The Central Bank of Kenya (CBK) implemented a reduction in interest rates from 11.25% to 10.75% in 2025, with an additional 50 basis point cut anticipated.
This move is expected to ease the financial burden on borrowers thus creating a more favorable environment for business expansion and entrepreneurship, particularly among the youth.
“This is a crucial step in boosting the economy, especially by supporting small businesses and entrepreneurs,” Mr Khan stated.
He spoke during the opening of a new I&M Bank branch in the Makutano, Meru town which further underscores the bank’s commitment to expanding its reach and supporting local entrepreneurs.
The new branch is expected to provide enhanced banking services, enabling residents and businesses in the region to access more affordable financial services, which will contribute to the growth of the local economy.
