Wazua
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Law Capping interest rates
Rank: Member Joined: 8/17/2011 Posts: 207 Location: humu humu
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Equity is still not clear on existing loans.
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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Aguytrying wrote:Shouldn't safaricom price also take a haircut if they will adjust their rates downwards Hahaha this giant makes peanuts from mshwari...mpesa transaction charges make up the bulk of that revenue
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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kaifastus wrote:Equity is still not clear on existing loans. The CBK circular was silent silent too
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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obiero wrote:kaifastus wrote:Equity is still not clear on existing loans. The CBK circular was silent silent too CBK seems watermelon on this issue. Not serious. Thanks to the mps for doing the right thing and president too. The blood sucking loan vampires can sit on a pin punda amecheka
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Rank: Veteran Joined: 4/23/2014 Posts: 909
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kaifastus wrote:Equity is still not clear on existing loans. Here is the full detail. EQUITY BANK PRESS BRIEFING https://www.youtube.com/watch?v=JaTtTmLpc9k
Enjoy “You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Coop bank considers a maximum of 50% of your after tax income as what can be applied to your mortgage Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Equity shakes market with mobile phone loans rate cutQuote:Equity Bank chief executive James Mwangi said customers borrowing through the lender’s Eazzy loans (its mobile phone-based credit offering) will be charged at the maximum rate of 14.5 per cent per annum on a reducing balance – a figure that translates to approximately 0.65 per cent per month.
“You can’t partner with a non-bank institution - a fintech or telcom – and pretend you can be outside this law – it says directly or indirectly. The issue of mobile is clearly spelt in this law,” said Mr Mwangi. 14.5% p.a. can never translate to 0.65% per month. Editors sleeping on the job. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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I tell you something , I have respect for JM. The kind of courage he has is what makes him win.
With this courage you can win any war
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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KulaRaha wrote:penkon wrote:obiero wrote:Impunity wrote:watesh wrote:KulaRaha wrote:Equity announces all loans got to 14.5% including Equitel.
So, who was recommending we buy this stock? So Equitel loans will be 1.2%. That is almost free money. Unless they introduce a fee, that cash cow is gone At 1.2% pm for Equitel-loan, that will be free money. Imagine borrowing 10,000 shillings and pay Kes. 120 as interest? I hope I am dreaming.  There is no link to the Equitel rumor.. Treat it as a hoax meant to fatigue the price of Equity stock no hoax, Dr. mwangi amesema https://www.youtube.com/watch?v=JaTtTmLpc9k
Its real, even his Head of Retail has tweeted: Does it (law) apply to SACCOs? The opposite of courage is not cowardice, it's conformity.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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jerry wrote:KulaRaha wrote:penkon wrote:obiero wrote:Impunity wrote:watesh wrote:KulaRaha wrote:Equity announces all loans got to 14.5% including Equitel.
So, who was recommending we buy this stock? So Equitel loans will be 1.2%. That is almost free money. Unless they introduce a fee, that cash cow is gone At 1.2% pm for Equitel-loan, that will be free money. Imagine borrowing 10,000 shillings and pay Kes. 120 as interest? I hope I am dreaming. There is no link to the Equitel rumor.. Treat it as a hoax meant to fatigue the price of Equity stock no hoax, Dr. mwangi amesema https://www.youtube.com/watch?v=JaTtTmLpc9k
Its real, even his Head of Retail has tweeted: Does it (law) apply to SACCOs? SACCOS are Saccos and not Banks. Saccos are Chamas. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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M-thurari just sent me an sms that my deposit will now earn 7.35% pa while the loan "facility fee" remained 7.5% per loan. Very hogwash coz they think the spirit of the LAW will not catch up with them. First they have not even said if the loan period is indefinite, they have not said whether the loan facility fee is 7.5% pm, pa or indef! If you look at the "normal loan" say a Kes.1,000,000 loan, a bank will normally lend you at an interest of say 14.5% pa and charge you a facilitation fee of 1% paid once. So this means M-thurari is giving us loans at a ZERO interest rate with facilitation fee levied at 7.5%, per what? I dont know! These guys will not know what hit them when everyone will singing Equitel. May be shit will hit them. Thank me.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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Impunity wrote:M-thurari just sent me an sms that my deposit will now earn 7.35% pa while the loan "facility fee" remained 7.5% per loan. Very hogwash coz they think the spirit of the LAW will not catch up with them. First they have not even said if the loan period is indefinite, they have not said whether the loan facility fee is 7.5% pm, pa or indef! If you look at the "normal loan" say a Kes.1,000,000 loan, a bank will normally lend you at an interest of say 14.5% pa and charge you a facilitation fee of 1% paid once. So this means M-thurari is giving us loans at a ZERO interest rate with facilitation fee levied at 7.5%, per what? I dont know! These guys will not know what hit them when everyone will singing Equitel. May be shit will hit them. Thank me. Equity will kill CBA unless they react immediately
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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Impunity wrote:M-thurari just sent me an sms that my deposit will now earn 7.35% pa while the loan "facility fee" remained 7.5% per loan. Very hogwash coz they think the spirit of the LAW will not catch up with them. First they have not even said if the loan period is indefinite, they have not said whether the loan facility fee is 7.5% pm, pa or indef! If you look at the "normal loan" say a Kes.1,000,000 loan, a bank will normally lend you at an interest of say 14.5% pa and charge you a facilitation fee of 1% paid once. So this means M-thurari is giving us loans at a ZERO interest rate with facilitation fee levied at 7.5%, per what? I dont know! These guys will not know what hit them when everyone will singing Equitel. May be shit will hit them. Thank me. I prefer Equity over KCB! Big up to JM. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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VituVingiSana wrote:Impunity wrote:M-thurari just sent me an sms that my deposit will now earn 7.35% pa while the loan "facility fee" remained 7.5% per loan. Very hogwash coz they think the spirit of the LAW will not catch up with them. First they have not even said if the loan period is indefinite, they have not said whether the loan facility fee is 7.5% pm, pa or indef! If you look at the "normal loan" say a Kes.1,000,000 loan, a bank will normally lend you at an interest of say 14.5% pa and charge you a facilitation fee of 1% paid once. So this means M-thurari is giving us loans at a ZERO interest rate with facilitation fee levied at 7.5%, per what? I dont know! These guys will not know what hit them when everyone will singing Equitel. May be shit will hit them. Thank me. I prefer Equity over KCB! Big up to JM. These CBA guys are still flip floping between defining a fee and an iterest when the spirit of the law is very clear. Equity just nailed it! CBA want to pay us deposit on fixed income at 7.35% pa and charge us interest of 90% pa...okay. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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The banks need to remember the per minute and per second war between safcom and airtel.
From the time airtel lost that war they never recovered.
They need to copy JM and very quickly
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Rank: Chief Joined: 5/9/2007 Posts: 13,095
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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wukan wrote:KulaRaha wrote:obiero wrote:KulaRaha wrote:At 12.9% kcb and co are doomed. What forms the basis of your judgement. Kenyan banks could lend at 5% and still make a profit.. It all depends on cost of funds.. Recalibration of the accounts that qualify for the minimum of 70% on CBR shall determine which bank thrives.. COOP via the SACCO movement remains the best bet to ride this wave With a gross spread of 6% and npls higher, how will they earn a profit? The aim is to maintain the market share so for a while the profit motive takes a chill. I would bet Equity would come at 12% and effectively wipe out the Sacco movement's value proposition. Why would anyone borrow their own money at 12% when you can get it from the bank? I would expect Sacco deposits will shrink so Coop would the worst bus James Mwangi makes this point clear, "saccos, MFIs will struggle to defend their market share". It's a volume game only the big boys will survive. http://www.bloomberg.com...an-banks-equity-ceo-says
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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I need an equitel line. Stat. This is free money! The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"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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Rank: Member Joined: 3/3/2016 Posts: 132
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Equity's new strategy post capping is just its old strategy: grow fast, use equitel, efficiency. What's new?
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