GT Bank Appeals Ksh 33 Million CAK Fine

Guaranty Trust Bank (Kenya) Limited (GT Bank) has confirmed the receipt of a recent decision issued by the Competition Authority of Kenya (CAK) on January 29, 2026, arising from a complaint made by ASL Limited in relation to the management of its credit facilities with The Bank.

In a statement, GT Bank stated that it has appealed the Authority’s decision to the Competition Tribunal.

“The matter is now sub judice and as such, it would be inappropriate for The Bank to comment extensively on details of the matter while it is pending before a competent Court,” GT Bank said.

GT Bank said its conduct throughout its banking relationship with ASL Limited was, at all times, consistent with its contractual obligations governing facilities granted to ASL Limited and, in compliance with applicable banking laws and regulations.

The Bank said the decision to appeal reflects its view that the Authority’s findings are not supported by the facts and evidence presented during the investigation.

“The Bank values its long-standing commitment to fair treatment of all Customers and believes the appellate process will provide an opportunity for a fuller consideration of the matter,” reads part of the statement.

Also Read: CAK Slaps GT Bank with Ksh 33 Million Fine for Misleading ASL Limited

No Further Statements

GT Bank said it will refrain from making further statements on this matter out of respect for the judicial process pending the outcome of the appeal before the Competition Tribunal.

“As a financial institution licensed and regulated by the Central Bank of Kenya, Guaranty Trust Bank Kenya remains committed to upholding the highest standards of governance, customer service, and regulatory compliance in all its banking operations and constructive engagement with Regulators.”

Also Read: Diamond Trust Bank, National Bank of Kenya and Access Bank Announce Revised Loan Lending Rates

CAK Fines GT Bank Kenya

CAK ordered Guaranty Trust Bank Kenya Limited to pay a penalty of Ksh 33,180,000 for engaging in false and misleading representations and unconscionable conduct against its customer, ASL Limited, contrary to the Competition Act.

Additionally, the Authority has ordered GT Bank Kenya Limited (GT Bank) to refund ASL Limited (ASL) Ksh 13,211,285, being the summation of the fees and charges determined as improperly levied.

CAK said the investigation into GT Bank’s conduct was occasioned by a complaint lodged with the Authority by ASL on October 5, 2024, alleging unfair treatment in the management of and renewal of its credit facilities held with the bank.

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