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Equity Bank Q1 2015 earnings up 11%
Rank: Elder Joined: 7/11/2010 Posts: 5,040
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VituVingiSana wrote:Aguytrying wrote:[quote=murchr]IN SUMMARY An Equity Bank Uganda executive has allegedly swindled the lender of $2.8 million (Sh274 million), adding the Kenyan firm to the growing list of companies that have been hit by internal theft. David Serwamba Musoke was on Tuesday charged with stealing $1.4 million (Sh137 million) through money laundering, according to the charge sheet in a Kampala court. He is facing two other charges of embezzlement, in which he is accused of stealing $700,000 and $750,000 (or a total of Sh142.1 million) which prosecutors say went into his possession by virtue of his employment. http://www.businessdaily...-/11srejfz/-/index.html[/quote] If this was KQ, MUMIAS, NBK this story would have never been released and nothing would have been done to the criminals. Thats the difference folks At KQ, Mumias or NBK... KES 274mn is pocket change. They eat in the billions. Precisely. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Aguytrying wrote:VituVingiSana wrote:Aguytrying wrote:[quote=murchr]IN SUMMARY An Equity Bank Uganda executive has allegedly swindled the lender of $2.8 million (Sh274 million), adding the Kenyan firm to the growing list of companies that have been hit by internal theft. David Serwamba Musoke was on Tuesday charged with stealing $1.4 million (Sh137 million) through money laundering, according to the charge sheet in a Kampala court. He is facing two other charges of embezzlement, in which he is accused of stealing $700,000 and $750,000 (or a total of Sh142.1 million) which prosecutors say went into his possession by virtue of his employment. http://www.businessdaily...-/11srejfz/-/index.html[/quote] If this was KQ, MUMIAS, NBK this story would have never been released and nothing would have been done to the criminals. Thats the difference folks At KQ, Mumias or NBK... KES 274mn is pocket change. They eat in the billions. Precisely. Endeleeni kujipondoa pondoa tu, bora mpunguze mbus politics kwa ndege. @Aguy bado Alcoblow @TPS KE, you should be more concerned about that. @VVS tukitoboa KQ we'll let you know. Keep looking for good businesses, we'll look for good investments. That should be in order.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Cde Monomotapa wrote:Aguytrying wrote:VituVingiSana wrote:Aguytrying wrote:[quote=murchr]IN SUMMARY An Equity Bank Uganda executive has allegedly swindled the lender of $2.8 million (Sh274 million), adding the Kenyan firm to the growing list of companies that have been hit by internal theft. David Serwamba Musoke was on Tuesday charged with stealing $1.4 million (Sh137 million) through money laundering, according to the charge sheet in a Kampala court. He is facing two other charges of embezzlement, in which he is accused of stealing $700,000 and $750,000 (or a total of Sh142.1 million) which prosecutors say went into his possession by virtue of his employment. http://www.businessdaily...-/11srejfz/-/index.html[/quote] If this was KQ, MUMIAS, NBK this story would have never been released and nothing would have been done to the criminals. Thats the difference folks At KQ, Mumias or NBK... KES 274mn is pocket change. They eat in the billions. Precisely. Endeleeni kujipondoa pondoa tu, bora mpunguze mbus politics kwa ndege. @Aguy bado Alcoblow @TPS KE, you should be more concerned about that. @VVS tukitoboa KQ we'll let you know. Keep looking for good businesses, we'll look for good investments. That should be in order. comrade you've found you voice again. TPS is facing serious headwinds, This government imeshindwa na kazi The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Aguytrying wrote:Cde Monomotapa wrote:Aguytrying wrote:VituVingiSana wrote:Aguytrying wrote:[quote=murchr]IN SUMMARY An Equity Bank Uganda executive has allegedly swindled the lender of $2.8 million (Sh274 million), adding the Kenyan firm to the growing list of companies that have been hit by internal theft. David Serwamba Musoke was on Tuesday charged with stealing $1.4 million (Sh137 million) through money laundering, according to the charge sheet in a Kampala court. He is facing two other charges of embezzlement, in which he is accused of stealing $700,000 and $750,000 (or a total of Sh142.1 million) which prosecutors say went into his possession by virtue of his employment. http://www.businessdaily...-/11srejfz/-/index.html[/quote] If this was KQ, MUMIAS, NBK this story would have never been released and nothing would have been done to the criminals. Thats the difference folks At KQ, Mumias or NBK... KES 274mn is pocket change. They eat in the billions. Precisely. Endeleeni kujipondoa pondoa tu, bora mpunguze mbus politics kwa ndege. @Aguy bado Alcoblow @TPS KE, you should be more concerned about that. @VVS tukitoboa KQ we'll let you know. Keep looking for good businesses, we'll look for good investments. That should be in order. comrade you've found you voice again. TPS is facing serious headwinds, This government imeshindwa na kazi My voice is very much intact brother only less for incessant griping. This country needs solutions and more people who can generate them. Politicizing every darn thing doesn't help. Politicizing sensitive issues like security doesn't help, we're all affected. Now, that being the position we're in we here have to navigate and come out tops. That's the best we can do.
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Rank: Chief Joined: 1/3/2007 Posts: 18,353 Location: Nairobi
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Cde Monomotapa wrote:Aguytrying wrote:Cde Monomotapa wrote:Aguytrying wrote:VituVingiSana wrote:Aguytrying wrote:[quote=murchr]IN SUMMARY An Equity Bank Uganda executive has allegedly swindled the lender of $2.8 million (Sh274 million), adding the Kenyan firm to the growing list of companies that have been hit by internal theft. David Serwamba Musoke was on Tuesday charged with stealing $1.4 million (Sh137 million) through money laundering, according to the charge sheet in a Kampala court. He is facing two other charges of embezzlement, in which he is accused of stealing $700,000 and $750,000 (or a total of Sh142.1 million) which prosecutors say went into his possession by virtue of his employment. http://www.businessdaily...-/11srejfz/-/index.html[/quote] If this was KQ, MUMIAS, NBK this story would have never been released and nothing would have been done to the criminals. Thats the difference folks At KQ, Mumias or NBK... KES 274mn is pocket change. They eat in the billions. Precisely. Endeleeni kujipondoa pondoa tu, bora mpunguze mbus politics kwa ndege. @Aguy bado Alcoblow @TPS KE, you should be more concerned about that. @VVS tukitoboa KQ we'll let you know. Keep looking for good businesses, we'll look for good investments. That should be in order. comrade you've found you voice again. TPS is facing serious headwinds, This government imeshindwa na kazi My voice is very much intact brother only less for incessant griping. This country needs solutions and more people who can generate them. Politicizing every darn thing doesn't help. Politicizing sensitive issues like security doesn't help, we're all affected. Now, that being the position we're in we here have to navigate and come out tops. That's the best we can do. Take all these chaps who stole from the public purse out to a field. One shot in the face. A 2nd shot in the back of the head. Then let the others know that this shall be their fate if... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,809 Location: NAIROBI
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Equity bank and African Development Bank sign sh.15bn loan deal for small and micro enterprises. Equity Bank is of late taking aloat of these type of loans. Now nearly 20% of their asset base Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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Ericsson wrote:Equity bank and African Development Bank sign sh.15bn loan deal for small and micro enterprises.
Equity Bank is of late taking aloat of these type of loans.
Now nearly 20% of their asset base Well borrow at low interest and give out of higher interests...am betting net interest margin is over 10% here and the demand for SME loans is so high. An area they have perfected in.
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Rank: Elder Joined: 12/4/2009 Posts: 10,809 Location: NAIROBI
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@watesh what happened to customer deposits Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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Ericsson wrote:@watesh
what happened to customer deposits Currently growing at 35% but these guy actually use more than 90% of the deposits in lending. Big companies demand higher interest for their deposits so sometimes a loan is more logical since it may have a higher interest margin than the expensive deposits. Remember Equity is in 6 countries, each of them needs capital, from the books last year Tz was growing so fast so more money for lending may be needed
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Rank: Veteran Joined: 7/1/2014 Posts: 927 Location: sky
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Equity Bank Q1 2015 earnings up 11%
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