hisah wrote:whiteowl wrote:blame everything on El Nino
It doesn't matter what will be used to take the blame as long as the reality check is sinking in.
Meanwhile something that @vvs has been a bitter opponent of is about to happen. Banking consolidation.
Experts see CBK move as bid to consolidate banks
When @young made is last wazua post he stated that he foresaw banking reorganization hitting KE just like what happened in his home town Nigeria.
If KE will host an international capital hub this will have to take place. Imperial bank will likely not open... What is that I've seen in the wires about Family bank?
I'll say it again, if one is holding bank stocks sit tight... I am OK with VOLUNTARY bank consolidation. That's biashara. That's similar to Williamson buying Kapchorua or Total buying Agip or Airtel buying YU or Stanbic buying CFC or GTB buying Fina.
What I oppose is FORCED consolidation that leaves us with an oligopoly. I find that smaller banks give better services than the larger banks. In addition, larger banks pay low rates to (small-medium) savers compared with smaller banks.
@hisah - if you read the article, it seems CBK wants 'new investors' to BUY into existing banks rather than bank consolidation. It's a roundabout way of shoring up weak banks.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett