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Equity Bank Results FY2010
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VituVingiSana
#91 Posted : Monday, March 07, 2011 12:54:16 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
mwanahisa wrote:
Underestimate Equity Bank (JM) at your own peril. HF is already in their stable so they can draw on that experience.
AGREE...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Burning Spear
#92 Posted : Monday, March 07, 2011 1:08:20 PM
Rank: Veteran

Joined: 7/22/2008
Posts: 1,139
I think there are so many pessimists here in wazua.First they should realise that what is imposible does not exist but not to say that Equity will burn even when they dont know whether there is some research commisioned by Equity to find the viability of the business in morgages involving low income earners.

When Equity launched their ledger fee FREE account,so many people were shouting on top of synagouges (spelling) that Equity would crash land.I was part of those people and was happily banking with Barclays and being frozen at every opportunity.Time passed fast and had to joint people in Equity by opening an account.
Mwangi's point is that if you earn something,then you can own something however little.ie If you earn handsomely,you can afford big mortgage in karen and the likes but if you earn 20K,you can afford mortgauge in Isinya and the likes.

So,its as simple as knowing your market other than dismissing anything and everything by your gut feelings.

(no pun intended)
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Sufficiently Philanga....thropic
#93 Posted : Monday, March 07, 2011 3:01:48 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
hard to believe but Equity has traded slighty more than 30K shares at 25bob just before end of trading!
What a great buy at these prices!
@SufficientlyP
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YOUNG ECONOMST
#94 Posted : Monday, March 07, 2011 3:13:32 PM
Rank: New-farer

Joined: 11/11/2010
Posts: 65
Location: NRB
Pray Pray Pray Pray Pray Pray Pray Pray for it not to fall below 25.

"The opportunity of a lifetime must be seized during the lifetime of the opportunity."
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mwanahisa
#95 Posted : Monday, March 07, 2011 3:14:23 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Sufficiently Philanga....thropic wrote:
hard to believe but Equity has traded slighty more than 30K shares at 25bob just before end of trading!
What a great buy at these prices!


A great bargain to whoever got it at 25.
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mwanahisa
#96 Posted : Monday, March 07, 2011 3:16:53 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
YOUNG ECONOMST wrote:
Pray Pray Pray Pray Pray Pray Pray Pray for it not to fall below 25.


This should not worry you too much. If the market (NSE) recovers, I will be expecting Equity to bounce back big as well. I am looking forward to buying at these prices!
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Sufficiently Philanga....thropic
#97 Posted : Monday, March 07, 2011 3:18:20 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
Burning Spear wrote:
I think there are so many pessimists here in wazua.First they should realise that what is imposible does not exist but not to say that Equity will burn even when they dont know whether there is some research commisioned by Equity to find the viability of the business in morgages involving low income earners.

When Equity launched their ledger fee FREE account,so many people were shouting on top of synagouges (spelling) that Equity would crash land.I was part of those people and was happily banking with Barclays and being frozen at every opportunity.Time passed fast and had to joint people in Equity by opening an account.
Mwangi's point is that if you earn something,then you can own something however little.ie If you earn handsomely,you can afford big mortgage in karen and the likes but if you earn 20K,you can afford mortgauge in Isinya and the likes.

So,its as simple as knowing your market other than dismissing anything and everything by your gut feelings.

(no pun intended)

Cant agree more!
After reading last Thursday's DN on the Mortgage market's potential and after listening to JM and after talking to some chap in Equity, i have to admit i have been on the buying side of HF for the last 3 trading days having dumped power.
I'm looking at nothing short of 100% Profit growth this year and in the next two years. I however expect a lot of price volatility in this stock particularly next year due to politics, which i hope to gain from.It is not that liquid and is where Equity was before its stock split in H1 2009, another plus!
@SufficientlyP
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  | | Edit by user: Monday, March 07, 2011 3:22 PM | Reason: Not specified
erifloss
#98 Posted : Monday, March 07, 2011 3:57:24 PM
Rank: Member

Joined: 6/21/2010
Posts: 514
Location: Nairobi
For Sport wrote:
youcan'tstopusnow wrote:
Kwanini aretire? Kwani kuna term limits?


Subprime mortgages:
So far, financial institutions have been careful about who they lend to to ensure that people take mortgages they can afford to repay. The US problems were partly caused by greedy bankers who were hawking loans to all and sundry irrespective of ability to repay.
If his dream of lending to people who are on a salary of 20 k is realized without waiting for policy adjustments in the housing industry to deal with all the problems facing the housing industry like
- Speculation on land (which someone here has said accounts for 40%) of the cost
- Infrastructure development (which developers are now forced to do)
- Financing structure
the default rate in such loans will go UP. Other thing he said is EB makes its money on large volumes. Wondering how this would play out on the property market. “Fuel” a construction boom in that segment of the market to make sure maaaaany affordable houses are built, and then lend out to people on a 20k salary. Can only lead to irresponsible lending. Read somewhere that “mortgage” literally translated is something like “death lock”. Sure trigger to problems in that industry.
Read the thread on the “housing bubble” for lots of speculation about a burst.

With subprime, most of those financial institutions sold those worthless backed financial instruments to people who never understood the American mortgage market & they never had the backing of an experienced developer, an aggressive fundraiser, an experienced mortgage lender & a large branch network.
With Equity, they do have a base to start with, a good branch network, an experienced developer & funds to seal it up. The bargaining power that these guys will have will be huge. The only thing i do believe will happen is that they'll help to burst this real estate bubble
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Papa Investor
#99 Posted : Monday, March 07, 2011 4:15:23 PM
Rank: New-farer

Joined: 6/3/2010
Posts: 96
Britak as an experienced developer is a bit of a misnomer since they have been concentrating on the west side of Uhuru highway and dont have too much experience doing massive large scale projects...
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mlennyma
#100 Posted : Monday, March 07, 2011 4:57:17 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
After books close 20bobLaughing out loudly
"Don't let the fear of losing be greater than the excitement of winning."
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