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What is coming HY for BBK?
Rank: Elder Joined: 8/16/2011 Posts: 2,386
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Barclays Bank has secured a trading licence from the Nairobi Securities Exchange, joining other lenders that have diversified into brokerage.
The NSE said in a statement it had admitted the Barclays Financial Services Limited as “trading participants”, a term used to describe intermediaries with direct access to the stock market trading platform.
“The admission of Barclays Financial Services Ltd is in line with our strategy of broadening and deepening Kenya’s capital markets,” said NSE chairman Eddy Njoroge.
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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.....Of the Banks Barclays to lead the others in FY 2014 results anytime from now. Barclays has been shaved by Mackinsey and will come with new hair. Nothing below 50Cts it will be ranging betwn 75 to 100cts.
Equity,NIC, KCB, Co-op, DTB and standard will follow all with positive sentiments
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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When you start seeing the ants move, rain is coming  Barclays Bank of Kenya has opened a mortgage centre that could see the lender cut approval of home loan financing to two days from the current average of seven days. The centre comes with a range of products which include home purchase loan at 90 per cent of the market value and new construction loan that will provide 100 per cent financing to prospective home owners. “We believe that by providing affordable and relevant mortgages, we will make a significant mark in this industry,” managing director, Mr Jeremy Awori, said during the launch. CONSTRUCTION PARTNERS Located at the bank’s headquarters in Nairobi, the mortgage centre is to host key construction partners such as valuers, architects and quantity surveyors in a move aimed at serving customers.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Realtreaty wrote:When you start seeing the ants move, rain is coming Barclays Bank of Kenya has opened a mortgage centre that could see the lender cut approval of home loan financing to two days from the current average of seven days. The centre comes with a range of products which include home purchase loan at 90 per cent of the market value and new construction loan that will provide 100 per cent financing to prospective home owners. “We believe that by providing affordable and relevant mortgages, we will make a significant mark in this industry,” managing director, Mr Jeremy Awori, said during the launch. CONSTRUCTION PARTNERS Located at the bank’s headquarters in Nairobi, the mortgage centre is to host key construction partners such as valuers, architects and quantity surveyors in a move aimed at serving customers. Approval using a template is a two minute process. Time will be taken on : your lawyers - 2 weeks, bank's lawyers - 2 weeks, vendor's lawyers - 2 weeks, lands ministry - 2 weeks. Funds will be disbursed after one month (at best). BTW template based approval assumes you have everything ready i.e. 6 months payslips, check; wife's 6 months payslips, check; valid sales agreement, check; 10% deposit paid to vendor, check; other sources of income, check; net after mortgage deduction to exceed 30% of gross, check; proof of stamp duty funds availability, check; salary to be processed through Barclay's, check; employer to make commitment to stand surety, check etc etc. So is two days approval a gamechanger?
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Stick with the mid-tier banks who may charge more for your mortgage but will get it done with fewer conditions especially if you have your own business... How many Wazuans fit in this category? Is the BBK 12% really 12%? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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VituVingiSana wrote:Stick with the mid-tier banks who may charge more for your mortgage but will get it done with fewer conditions especially if you have your own business... How many Wazuans fit in this category?
Is the BBK 12% really 12%? @VVS we have all gone "Chama" in our family. People have run away from banks. A bank will ask you for various useless conditions as collatteral, stamp duty(ok obvious), high interest rates, hash penalties,and the worst pay Insurance for the same loan you are taking even with a good collatteral, pay for processing fees, pay this and that and at the end if you needed 1M you get 0.9M and after 3 months you start repaying. Go "Chama" now it has proved better as people know each other. It has been successful in other countries as Bangladesh, India, etc
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Realtreaty wrote:VituVingiSana wrote:Stick with the mid-tier banks who may charge more for your mortgage but will get it done with fewer conditions especially if you have your own business... How many Wazuans fit in this category?
Is the BBK 12% really 12%? @VVS we have all gone "Chama" in our family. People have run away from banks. A bank will ask you for various useless conditions as collatteral, stamp duty(ok obvious), high interest rates, hash penalties,and the worst pay Insurance for the same loan you are taking even with a good collatteral, pay for processing fees, pay this and that and at the end if you needed 1M you get 0.9M and after 3 months you start repaying. Go "Chama" now it has proved better as people know each other. It has been successful in other countries as Bangladesh, India, etc What if everyone in the family wants a loan? Who gets the loan? It's better to use a Chama but be careful of lending to that useless cousin who uses the loan to buy booze! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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Barclays Bank has cut its loan rates after the Central Bank of Kenya (CBK) lowered the standard base rate last month, turning the spotlight on other lenders.
The bank said it had reduced the cost of loans borrowed on variable terms by a 0.6 percentage point in a notice sent to borrowers through text messages on Monday.
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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This Monday we get 75-100 cents DVD. There will be alot to tell espec on real estates. Barclays may start using its property in Kajiado and elsewhere to do business
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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The 100 cents(1kes) are Available now courtesy BKL and we can now have some good tea.
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