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Equity lending rate 25%

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guru267		#41 Posted : Friday, November 11, 2011 6:45:39 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		astute wrote: Lets wait and see, Kenyans are aware: They are officially the most expensive lenders!! The loan book growth days are numbered. The only new thing equity has done is raise rates to 25%.. They have always charged interest based on principal instead of reducing balance and kenyans have known this the whole time.. But yet they still chose and are still choosing equity bank limited as their preferred lender of choice.. Mark 12:29 Deuteronomy 4:16
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mwekez@ji		#42 Posted : Friday, November 11, 2011 6:57:57 PM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		guru267 wrote: astute wrote: Lets wait and see, Kenyans are aware: They are officially the most expensive lenders!! The loan book growth days are numbered. The only new thing equity has done is raise rates to 25%.. They have always charged interest based on principal instead of reducing balance and kenyans have known this the whole time.. But yet they still chose and are still choosing equity bank limited as their preferred lender of choice.. I doubt whether wanjiku (who are the majority of EB clients) know the difference between flat rate and reducing balancing rate. When she gets to know, she will run from this so called wanjiku's bank ... and no wonder EB is unable to grow its corporate business
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guru267		#43 Posted : Friday, November 11, 2011 7:20:58 PM
Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi		mwezek@ji wrote: ... and no wonder EB is unable to grow its corporate business Who needs corporates?? Numbers dont lie.. retail business is proving more profitable than corporate business.. There is not a bank in kenya that doesnt envy equity bank limited.. Mark 12:29 Deuteronomy 4:16
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mwekez@ji		#44 Posted : Saturday, November 12, 2011 10:01:23 AM
Rank: Chief Joined: 5/31/2011 Posts: 5,121		guru267 wrote: mwezek@ji wrote: ... and no wonder EB is unable to grow its corporate business Who needs corporates?? Numbers dont lie.. retail business is proving more profitable than corporate business.. There is not a bank in kenya that doesnt envy equity bank limited.. EVERY BANK NEEDS CORPORATES ... Even Equity Bank recently hired expensive foreigners to its corporate banking as it seeks new ideas to gain a larger foothold in the lucrative corporate lending. http://allafrica.com/stories/201110310955.html FYI, the day wanjiku will wake up, Equity Bank itajiju
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Sober		#45 Posted : Saturday, November 12, 2011 10:09:13 AM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		and the other banks follow suit: New lending rates FamilyBankKenya 24.5% BarclaysKenya 22.5% 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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Sober		#46 Posted : Saturday, November 12, 2011 10:16:03 AM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		Standard Chartered Bank raises its Base Lending Rate to a massive 23 per cent with effect from 15th Nov 2011 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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Mpenzi		#47 Posted : Saturday, November 12, 2011 12:42:21 PM
Rank: Veteran Joined: 10/17/2008 Posts: 1,234		Sober wrote: Standard Chartered Bank raises its Base Lending Rate to a massive 23 per cent with effect from 15th Nov 2011 But what is the effective rates being charged by these? They could be much higher than EB's 25%.
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Stealth		#48 Posted : Saturday, November 12, 2011 1:06:56 PM
Rank: Member Joined: 5/3/2010 Posts: 145 Location: East Africa		Already seeing the USD going down. Hope it goes down down down doooooooown further. The rate increase is for new and existing facilities.
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GGK		#49 Posted : Saturday, November 12, 2011 3:48:14 PM
Rank: Member Joined: 11/21/2006 Posts: 608 Location: Ruiru		Sober wrote: and the other banks follow suit: New lending rates FamilyBankKenya 24.5% BarclaysKenya 22.5% It would be difficult to expect a bank to lend at a rate lower than inflation. EB does it this way because of simplicity. How do you expect Wanjiku to understand the reducing balance model? "..I am because we are. "― Ubuntu, Umtu,
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QW25081985		#50 Posted : Saturday, November 12, 2011 4:32:03 PM
Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani		i think this was a case of who'll be first to throw int he towel on cheap rates ..lol
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