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CBK Governor No Match to Kenyan Banks.
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kizee1
#21 Posted : Monday, April 04, 2011 2:05:00 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
mukiha wrote:
selah wrote:
@proverB My arguments are when banks make most of their cash through bonds or investments in CBK instruments it beats the purpose of the banking industry....
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.
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The other thing why would a bank charge me withdrawing charges of up to ksh.100 when in actual sense they are making more than 15% out of my savings.

The first statement is a fallacy peddled by Kenyan media. As I have shown above, Bond income is less that 10% of the total income. That cannot be said to be "most of their income"!

If your bank is charging you sh100 withdrawal fees, move to another bank. There are many that do not charge these fees, mine being one of them. Don't be a lazy customer!



bond income is only 10pct of total? are u aware of an income line known as"other income" ??are u talkin about the interest on gvt securities or on trading gvt securities?
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mukiha
#22 Posted : Monday, April 04, 2011 2:21:01 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
kizee1 wrote:
mukiha wrote:
selah wrote:
@proverB My arguments are when banks make most of their cash through bonds or investments in CBK instruments it beats the purpose of the banking industry....
.
.
.
The other thing why would a bank charge me withdrawing charges of up to ksh.100 when in actual sense they are making more than 15% out of my savings.

The first statement is a fallacy peddled by Kenyan media. As I have shown above, Bond income is less that 10% of the total income. That cannot be said to be "most of their income"!

If your bank is charging you sh100 withdrawal fees, move to another bank. There are many that do not charge these fees, mine being one of them. Don't be a lazy customer!



bond income is only 10pct of total? are u aware of an income line known as"other income" ??are u talkin about the interest on gvt securities or on trading gvt securities?


Yes, I am aware of it; and it is also around 10% to 15%, bringing the total to around 25%.

if you look at Equity [I have the full report], they have listed income from bond trading as a separate entry in note 9[b]... the figure is Sh2.048b; sounds a lot, but note that total income is Sh20.248b

So, my estimate of 10% is good.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#23 Posted : Monday, April 04, 2011 2:26:33 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
....Equity has also given the income from counter withdrawals; Sh456m.

Again, it sounds large, but with 6m customers, this is an average of 6-bob per month per customer!!!!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mozenrat
#24 Posted : Monday, April 04, 2011 2:34:55 PM
Rank: Veteran

Joined: 5/18/2008
Posts: 796
mukiha wrote:
....Equity has also given the income from counter withdrawals; Sh456m.

Again, it sounds large, but with 6m customers, this is an average of 6-bob per month per customer!!!!



Ngai... while I pay 850 per month to Stanchart.. I'm leaving..
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selah
#25 Posted : Monday, April 04, 2011 2:39:38 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
Equity charges ksh.50 if ur withdrawing from ur branch & Ksh.101 over the counter if u r withdrawing from another branch
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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mukiha
#26 Posted : Monday, April 04, 2011 3:25:20 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
selah wrote:
Equity charges ksh.50 if ur withdrawing from ur branch & Ksh.101 over the counter if u r withdrawing from another branch

And people don't use the atm because.....?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#27 Posted : Monday, April 04, 2011 3:58:56 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
Now look how things sound when the shoe is on the other foot: http://www.wazua.co.ke/f...&t=11863#post163114

Everybody is lazy; not just bank managers. Individual investors as well...
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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kizee1
#28 Posted : Monday, April 04, 2011 4:05:07 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
mukiha wrote:
kizee1 wrote:
mukiha wrote:
selah wrote:
@proverB My arguments are when banks make most of their cash through bonds or investments in CBK instruments it beats the purpose of the banking industry....
.
.
.
The other thing why would a bank charge me withdrawing charges of up to ksh.100 when in actual sense they are making more than 15% out of my savings.

The first statement is a fallacy peddled by Kenyan media. As I have shown above, Bond income is less that 10% of the total income. That cannot be said to be "most of their income"!

If your bank is charging you sh100 withdrawal fees, move to another bank. There are many that do not charge these fees, mine being one of them. Don't be a lazy customer!



bond income is only 10pct of total? are u aware of an income line known as"other income" ??are u talkin about the interest on gvt securities or on trading gvt securities?


Yes, I am aware of it; and it is also around 10% to 15%, bringing the total to around 25%.

if you look at Equity [I have the full report], they have listed income from bond trading as a separate entry in note 9[b]... the figure is Sh2.048b; sounds a lot, but note that total income is Sh20.248b

So, my estimate of 10% is good.



ur math is flawed...i know of one large bank that did 1.5bn in trading and 5bn in revaluation...my point is the line item that made banks cash last year will kill them this year...nearly every banks bond portfolio is under water...
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selah
#29 Posted : Monday, April 04, 2011 4:05:08 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
mukiha wrote:
selah wrote:
Equity charges ksh.50 if ur withdrawing from ur branch & Ksh.101 over the counter if u r withdrawing from another branch

And people don't use the atm because.....?


The Limit.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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mukiha
#30 Posted : Monday, April 04, 2011 4:22:55 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
selah wrote:
mukiha wrote:
selah wrote:
Equity charges ksh.50 if ur withdrawing from ur branch & Ksh.101 over the counter if u r withdrawing from another branch

And people don't use the atm because.....?


The Limit.

And they don't want to go M-Kesho [Limit 70k] because....?

And don't want to use cheques because....?

Or debit cards because?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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