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Equity Bank Q1 2016 Results
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innovator
#31 Posted : Thursday, May 12, 2016 11:30:54 PM
Rank: Member

Joined: 7/24/2010
Posts: 239
Location: nairobi
innovator wrote:
maka wrote:
Sufficiently Philanga....thropic wrote:
Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account.


They are a making a killing out of those short term loans...


Real killing, but better than others which could be murder.

ooh that's 2% a month, not bad if paid fast.
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Sufficiently Philanga....thropic
#32 Posted : Friday, May 13, 2016 8:32:51 AM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
By the way, their SMS loans at Brick and mortar are at the same rate of 24%.
I think the equitel loans are a good working capital management tool.....only access the cash when absolutely needed and pay it off as soon as your debtors pay up, to cut on the total interest paid.
@SufficientlyP
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VituVingiSana
#33 Posted : Friday, May 13, 2016 10:03:48 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Sufficiently Philanga....thropic wrote:
Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account.
That quite pricey when one looks at it from a reducing balance perspective. How can you afford it?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Sufficiently Philanga....thropic
#34 Posted : Friday, May 13, 2016 10:11:11 AM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
VituVingiSana wrote:
Sufficiently Philanga....thropic wrote:
Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account.
That quite pricey when one looks at it from a reducing balance perspective. How can you afford it?

True that, ODs,working capital financing/short term loans dont come cheap. They are meant to keep the business doors open for more business as you wait for the slow debtors to pay up.
Huge opportunity and initiative for SME banks like Equity to crack this segment which is the next growth frontier.
@SufficientlyP
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Ericsson
#35 Posted : Sunday, May 15, 2016 4:42:06 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Equity bank assets grew by sh.2bn in the period between Jan 1-March 31 2016.
The jump in profits in Q1 2016 compared to Q1 2015 was due to investment in government securities which grew from sh.42bn as at end of December 31 2015 to sh.62bn as at March 31 2016.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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watesh
#36 Posted : Friday, June 10, 2016 8:58:59 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya


Equity Afia plans already rolling out
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mkate_nusu
#37 Posted : Saturday, June 11, 2016 11:26:42 PM
Rank: Member

Joined: 5/30/2016
Posts: 332
Location: Kayole
watesh wrote:


Equity Afia plans already rolling out


Good things poppin'
KEGN, KPLC, KQ, SCOM
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VituVingiSana
#38 Posted : Sunday, June 12, 2016 8:06:11 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
watesh wrote:


Equity Afia plans already rolling out
Where is this location?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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watesh
#39 Posted : Sunday, June 12, 2016 9:53:23 AM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
VituVingiSana wrote:
watesh wrote:


Equity Afia plans already rolling out
Where is this location?

I think Rongai
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murchr
#40 Posted : Thursday, June 23, 2016 12:38:32 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
the Star wrote:
Equity Bank has 14 days to file assessment documents in a case where eight former employees are seeking over Sh100 million as compensation.

Justice Fred Ochieng made the orders after the court was informed that the bank had admitted the liability for failing to disclose and pay the employees their unit-shareholdings.

Ochieng further directed the parties to file facts agreed to enable the court give judgment on the quantity of damages to be awarded to the eight.

Plaintiffs in the case are Patrick Pamba, Edna Mwangi, Arthur Washe, John Thagana, John Nderitu, Jacob Obiero, Edward Waweru and John Kamau.

They accuse bank trustees of "blantantly and deliberately" failing to comply with the provisions of Section 117 of the Capital Markets (Collective Investment Schemes) Regulations 2001.

The provision ensures that a repurchase of units in an ESOP shall reflect the latest traded price of the company's shares at the Nairobi Securities Exchange.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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