Guaranty Trust Bank Kenya Appeals Competition Authority of Kenya’s Decision on ASL Limited

Nairobi Kenya, February 24, 2026 Guaranty Trust Bank (Kenya) Limited (“The Bank”) confirms receipt of a recent decision issued by the Competition Authority of Kenya on the 29th of January 2026, arising from a complaint made by ASL Limited in relation to the management of its credit facilities. The Bank Guaranty Trust Bank Kenya confirms 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. The Bank’s 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 decision to appeal reflects The Bank’s 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. Pending the outcome of the appeal before the Competition Tribunal, The Bank will refrain from making further statements on this matter out of respect for the judicial process. 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.