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Law Capping interest rates
Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Liv wrote:mlennyma wrote:Interest brexit,ring the bell we halt trading, its chaotic, 0 demand across bank stocks,let's wait for suicide reports This was expected.... Next stop is the USD.... Will they try to protect the shilling? Let's wait and see. CBK selling USD this morning to defend the shilling...... Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Safaricom Ltd has caught the flu due to wait and see attitude. Clearly, a financial earthquake is in town! John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Member Joined: 1/31/2007 Posts: 303
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Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand.
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Rank: Veteran Joined: 11/14/2006 Posts: 1,311
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KulaRaha wrote:Liv wrote:mlennyma wrote:Interest brexit,ring the bell we halt trading, its chaotic, 0 demand across bank stocks,let's wait for suicide reports This was expected.... Next stop is the USD.... Will they try to protect the shilling? Let's wait and see. CBK selling USD this morning to defend the shilling......
This may work in the short term.....but if the problem persists interest rates will go up....remember October 2015? That might repeat itself.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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FRM2011 wrote:guru267 wrote:FRM2011 wrote:The mwananchi bank's are in real trouble. They have facilities called micro loans that are secured with household goods I.e. chattels mortgage.
Am looking at a letter of offer for 300,000 from coop bank.
Int rate : 2% pm flat
Nego fee : 2.5%
After adding insurance, guarantee and hypothecation fees, the APR is 45.2%.
You read that right. These pranksters have been shafting wanjiku in the name of availing credit to her.
Am told equity is much much worse. Will share once I see a sample offer letter. Walk into your nearest bank and apply for a loan under the above security structure at 14.5% p.a. and all you will be looking at is a decline letter. @guru, the person in trouble here is not the borrower. The bill has just turned off a tap that was giving coop interest revenue at four times the other loans. Am looking at equity figures right now and if JM tells you he will abandon wanjiku, he is lieing. If he does, or dares to slow down lending to Wanjiku, he will simply close shop. After 21 days, Equity's interest expense jumps by 350%. These schlock interest revenues dry up. It's basic survival for equity. Good luck walking into a bank with your unstable job and a sofa set and wardrobe as security and thinking they will lend to you at 14% p.a. With Equity... They will simply adjust the minimum interest earning balances upwards to a comfortable level... The law does not stop Banks from changing terms, conditions and tarriff guides and they still reserve full right of admission. Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Elder Joined: 7/28/2015 Posts: 9,562 Location: Rodi Kopany, Homa Bay
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Does this also affect mortgage interest rates?
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Imagine now you cant sell equity and kcb since no buyers and leading sell orders is in millions holding of 10% rule "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Impunity wrote:murchr wrote:mikanjoroge wrote:I have a question. Will this law affect those who already had loans, or is it only for new loans from the date of "operationalization" or "gazettement" of the law? Old loans remain unless you refinance He can top up his old loans under new terms. Interesting times indeed. Imagine having taken a 2M loan at 21% pa, after 2 years top it up under new rate, 14%pa.  Try it out.. Top up declined pap! unless you double up on the security and increase your income to instalment ratio. Mark 12:29
Deuteronomy 4:16
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Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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If the jumbo supply volumes on the banking stocks are not taken by cod,I will be very afraid. If they will be taken,I will be a buyer next week.
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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Rank: Member Joined: 2/24/2015 Posts: 154 Location: Nairobi
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Metasploit wrote:If the jumbo volumes on the banking stocks are not taken by cod,I will be very afraid.
If they will be taken,I will be a buyer next week.
There is absolutely ZERO way these volumes clear today. Who is going to buy 47 million shares of KCB, for example?
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Rank: Elder Joined: 6/23/2009 Posts: 13,506 Location: nairobi
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Sober wrote:moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. Huyo ni mtu wa cord anatuambia KCB down 30.6%.. Seriousness is needed here
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 1/31/2007 Posts: 303
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Sober wrote:moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. The 10% rule does not apply today,it will resume from tomorrow.However,by the look of things today there will be zero or very little trading in bank stocks in the coming days and months.The supply is overwhelming and the uncertainty/risk in the sector is real.
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Rank: Veteran Joined: 11/14/2006 Posts: 1,311
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obiero wrote:Sober wrote:moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. Huyo ni mtu wa cord anatuambia KCB down 30.6%.. Seriousness is needed here
Did you see 30.6% anywhere? ..... Look at it carefully.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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Liv wrote:obiero wrote:Sober wrote:moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. Huyo ni mtu wa cord anatuambia KCB down 30.6%.. Seriousness is needed here
Did you see 30.6% anywhere? ..... Look at it carefully. He is seeing his own things. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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Metasploit wrote:If the jumbo supply volumes on the banking stocks are not taken by cod,I will be very afraid.
If they will be taken,I will be a buyer next week.
I will be buying banks heavily when the dust settles. Probably not next week. President Uhuru might just have opened a window for me. I am thinking long term. I will explain my thinking later. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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This is not blood in the street, it is fire in the streets
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Rank: Elder Joined: 6/23/2009 Posts: 13,506 Location: nairobi
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Impunity wrote:Liv wrote:obiero wrote:Sober wrote:moneydust wrote:Wamunyota wrote:Sober wrote:Spikes wrote:Shak wrote:Bank stocks plunging.Equity has hit a low of 33bob Expect more than 50% drop! Hapa hakuna mchezo. Foreigners don't take chances. Massive pullout as supply overruns demand! Banks are in the REDKCB Down to 30 6% Equity to 33 7% Co-operative 11 9% Kichinjio kimeanza..... Imagine even at these low prices there is zero demand. Is the 10% rule in place? I thought this is material information affecting the counters in the Banking sector. Huyo ni mtu wa cord anatuambia KCB down 30.6%.. Seriousness is needed here
Did you see 30.6% anywhere? ..... Look at it carefully. He is seeing his own things. LOL.. Ulijuaje
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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It's important as investors to realize the golden age for the banking industry has come to an end. It was great period from the mid 1990s to 2016. It was one of the best places to pack cash and enjoy great returns.Banks used to have a say at the seat of power but not any more. Going forward investors must look for new places to invest. As the banks lose there are other businesses that will now gain. At the end of it all the economy will re-balance.
I don't see any reason to sell my banking stocks acquired at prices below NAV. Going forward I will allocate capital to other sectors and benefit from the lower interest rates and consumer demand. Just being pragmatic
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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MaichBlack wrote:Metasploit wrote:If the jumbo supply volumes on the banking stocks are not taken by cod,I will be very afraid.
If they will be taken,I will be a buyer next week.
I will be buying banks heavily when the dust settles. Probably not next week. President Uhuru might just have opened a window for me. I am thinking long term. I will explain my thinking later. Me too we are one here . I do believe these thugs will continue making billions .nothing will change. So I'll be buying more especially equity from next week
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