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{
    "id": 846727,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846727/?format=api",
    "text_counter": 254,
    "type": "speech",
    "speaker_name": "Kiambu, JP",
    "speaker_title": "Hon. Jude Njomo",
    "speaker": {
        "id": 1784,
        "legal_name": "Jude L. Kangethe Njomo",
        "slug": "jude-l-kangethe-njomo"
    },
    "content": "remember well, KCB made Kshs12.1 billion. That was 18 per cent increment from what they made the previous year. Equity Bank made Kshs11.1 billion, up from Kshs9.4 billion the previous year. Co-operative Bank made Kshs9.98 billion, which marked 7.6 per cent increment from what they had last year. Very few businesses in Kenya are able to make this kind of profits in a half year. Therefore, we should not listen to the crocodile tears that the banks are making to cheat us. I was very shocked when the finance committee had initially given its report and said that they were going to give back the mandate of regulating interest rates to the monetary committee of CBK. I was shocked because the same committee is the one which came up with KBBR, a rate which is not functional today. They had completely failed to regulate interest rates from 2012. I am very happy that the Departmental Committee on Finance and National Planning saw it wise to remove that amendment that they wanted to bring. It would not be smart of us to give the Central Bank of Kenya (CBK) back this work, which they had failed to do."
}