The Competition Authority of Kenya (CAK) has ordered Guaranty Trust Bank Kenya Ltd (GT Bank) to pay a penalty of KSh 33.18 million for engaging in false, misleading representations and unconscionable conduct.Â
The ruling, issued on February 24, 2026, follows an investigation into a complaint filed by ASL Limited, a long-standing corporate client in the construction and industrial sectors.Â
The total Penalty is KSh 33,180,000 for violations of the Competition Act.The bank must also refund KSh 13.21 million to ASL Limited for improperly levied fees and charges.
The CAK found that GT Bank backdated default interest without notice, mischaracterized materially altered credit terms as routine renewals, and charged fees on unapproved facilities.
ASL Limited had maintained a banking relationship with GT Bank since 2001.
By Anthony Solly
