Wazua
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Family Bank Bond KShs. 10Billion
Rank: New-farer Joined: 6/10/2013 Posts: 52
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Are Wazuans wary of this in the wake of the Imperial Bank scandal?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates....  possunt quia posse videntur
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... Someone told me Family Bank are retrenching. 10B in wake of Imperial saga,under subscription. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Impunity wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? 13.75% P.A With a promise to give back your money with a 1% interest at the end of tenor for every 2% gain in book value with a ceiling of 15%. An example, if the company/bank's book value grow by 50% between December 2014 and December 2020, they will give back your money plus an additional 15% of your money as asante(note that you also have the 13.5% every year regardless of whether they grow or not, unless they "Imperial Bank" you!) With such promises, aiiiih!? Am on the sidelines from Kenyan Banks. Even saw PostBank Kenya giving 13% interest on savings account. Iko kitu mbaya inaendelea. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Family bank seems to be on the right path
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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dunkang wrote:Impunity wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? 13.5% P.A With a promise to give back your money with a 1% interest at the end of tenor for every 2% gain in book value. An example, if the company/bank's book value grow by 50% between October 2015 and October 2020, they will give back your money plus an additional 25% of your money as asante(note that you also have the 13.5% every year regardless of whether they grow or not, unless they "Imperial Bank" you!) With such promises, aiiiih!? Am on the sidelines from Kenyan Banks. Even saw PostBank Kenya giving 13% interest on savings account. Iko kitu mbaya inaendelea. Post bank=gvt. That's why their interest is tax free. Whenever you put money there you have given to gvt. With loan rates ranging 20-27% they can easily pay you and have much balance. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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dunkang wrote:Impunity wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? 13.75% P.A With a promise to give back your money with a 1% interest at the end of tenor for every 2% gain in book value with a ceiling of 15%. An example, if the company/bank's book value grow by 50% between December 2014 and December 2020, they will give back your money plus an additional 15% of your money as asante(note that you also have the 13.5% every year regardless of whether they grow or not, unless they "Imperial Bank" you!) With such promises, aiiiih!? Am on the sidelines from Kenyan Banks. Even saw PostBank Kenya giving 13% interest on savings account. Iko kitu mbaya inaendelea. I'm better off taking my cash to CBK.13.5% every year vs 22% every 91 days.
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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whiteowl wrote:dunkang wrote:Impunity wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? 13.75% P.A With a promise to give back your money with a 1% interest at the end of tenor for every 2% gain in book value with a ceiling of 15%. An example, if the company/bank's book value grow by 50% between December 2014 and December 2020, they will give back your money plus an additional 15% of your money as asante(note that you also have the 13.5% every year regardless of whether they grow or not, unless they "Imperial Bank" you!) With such promises, aiiiih!? Am on the sidelines from Kenyan Banks. Even saw PostBank Kenya giving 13% interest on savings account. Iko kitu mbaya inaendelea. I'm better off taking my cash to CBK.13.5% every year vs 22% every 91 days. Really? I thought 22% in 91 days is better than 13% in 365.5 days .ama I'm using a different math formula
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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@Enyands @whiteowl, that 22% is per annum (p.a) for 3 months its (3/12)* 22%. Even though its still higher than the other one Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: New-farer Joined: 7/17/2014 Posts: 15 Location: Geneva
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22% p.a. is equivalent to 1.8% per month.....This is far much better than 13.5% p.a. which is 0.14% per month.... Treasury Bills and bonds are the way to go.... you cant compare their rates to the Family Bank Bond.... I see it being under-subscribed.... they should have postponed it until GOK rates go down and Imperial Bank fever comes down... Regards,
Jimmy Boy
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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dunkang wrote:Impunity wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... What the rate? 13.75% P.A With a promise to give back your money with a 1% interest at the end of tenor for every 2% gain in book value with a ceiling of 15%. An example, if the company/bank's book value grow by 50% between December 2014 and December 2020, they will give back your money plus an additional 15% of your money as asante(note that you also have the 13.5% every year regardless of whether they grow or not, unless they "Imperial Bank" you!) With such promises, aiiiih!? Am on the sidelines from Kenyan Banks. Even saw PostBank Kenya giving 13% interest on savings account. Iko kitu mbaya inaendelea. Post Bank by the way is not supervised by the CBK, what does that imply? But I would rather place my meager savings in Post Bank than Family Bank which is owned by some "family". Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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Boris Boyka wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... Someone told me Family Bank are retrenching. 10B in wake of Imperial saga, under subscription. 50% Subscription. http://www.businessdaily...6/-/10gf8l2/-/index.htmlEverybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Boris Boyka wrote:Boris Boyka wrote:maka wrote:smitha wrote:Are Wazuans wary of this in the wake of the Imperial Bank scandal? They are offering pathetic rates.... Someone told me Family Bank are retrenching. 10B in wake of Imperial saga, under subscription. 50% Subscription. http://www.businessdaily.../-/10gf8l2/-/index.html The truth is that the Treasury Bills and Bonds are currently sweeter. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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family Bank thought their sweetner was going to convince investors to put more money. They base rate for a corporate bond has been set at 22% so to get good subscription you need to match that. Saying the imperial bank receivership caused jitters is a fallacy Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 6/10/2013 Posts: 52
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DPP orders investigation of senior Family Bank officials over NYS scandal. Hope this is not another Imperial Bank...
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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smitha wrote:DPP orders investigation of senior Family Bank officials over NYS scandal. Hope this is not another Imperial Bank... Anybody with some serious deposit inthere should take heed and flee to saftey...mapema mapema kama saa hii! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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smitha wrote:DPP orders investigation of senior Family Bank officials over NYS scandal. Hope this is not another Imperial Bank... It's well known that a couple of banks handle loot stolen from govt...Things will change going forward. possunt quia posse videntur
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Rank: Veteran Joined: 8/10/2014 Posts: 968 Location: Kenya
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Impunity wrote:smitha wrote:DPP orders investigation of senior Family Bank officials over NYS scandal. Hope this is not another Imperial Bank... Anybody with some serious deposit inthere should take heed and flee to saftey...mapema mapema kama saa hii! CBK will pounce on this one
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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maka wrote:smitha wrote:DPP orders investigation of senior Family Bank officials over NYS scandal. Hope this is not another Imperial Bank... It's well known that a couple of banks handle loot stolen from govt...Things will change going forward. I love this new cbk guy . Meant to understand one of the biggest bank is rushing to clean their books since they have been cooking for a while .but he is doing a good job
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