RE: “Bank of Kigali 2017 pricing policy ‘to promote good corporate governance’” (The New Times, March 3).
A little bit of more research would have been helpful here. I know a few banks that charge interest rates lower than “the new lending policy”; it seems like BK is feeling the pinch of competition.
A little lower, say 14 per cent for low risk clients, would be a good starting point. And even lower for those with lots of savings or good collateral. Send a scout to other banks along the street of your headquarters and then compare.
Anyhow, that said, I like that you have put in effort and time to communicate the bank’s decisions to your clients. Great example, of a practice associated with good corporate governance.