For weeks, after legislators approved a law capping retail lending rates, the Kenya Bankers Association warned that price controls would restrict lending. August's data from the Central Bank, which indicated that private sector credit growth had fallen to under 6% annual growth, a 4-year low, seemed to bolster their point. However, if data from Equity Bank - the largest in the region by bank accounts - is anything to go by, those claims were way off the mark, as lending has rebounded strongly from mid-September.
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