A business woman in Watamu, Kilifi County has taken KCB bank Watamu Branch to court after her efforts to revoke the log book of her school vehicle failed, despite clearing Ksh3.3 million loan.
Mrs. Rose Mutinda Katsole has asked the office of the Director of Public Prosecution to intervene and investigate the KCB Watamu branch operations against professional misconduct and poor services.
Speaking to the press in Watamu yesterday Mrs. Katsole said when she visited the bank to pick the log book after clearing the loan, she was told to clear Sh. 36,000 pending balance, adding that no clarification from the branch manager Mr. Bernard Mutia, was provided of the new balance whose source she cannot trace.
Mrs. Katsole however said she suspected transactions changed when the Bank forced her to repay the loan at an interest rate of 21.33 per cent, against an initial agreement rate which was at 20 per cent.
“The bank issued me with a clearance form after clearing the amount at their rate but after 15 days the bank asked me to pay an additional Ksh36, 000 before giving me back the log book. Why did the bank clear me if they were aware I had an outstanding balance? Where is this additional repayment coming from?” she said.
Mrs. Katsole borrowed Ksh3.3 million from KCB bank Watamu Branch to purchase the school vehicle whose log book was retained by the bank as she was repaying the loan. She claimed that KCB has now blocked her from accessing loans from other financial institutions.
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Mrs. Katsole added, “Because I am scared this bank is colluding with cartels to rob innocent people, I brought the matter to the attention of KCB contact center head office, DCI, Kenya Bankers Association and Central Bank.”
Responding to the claims, KCB Watamu branch manager, Bernard Mutia said the matter would be solved by the Bank head office in Nairobi.