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Cfc Stanbic Kenya FY 2015 Profit drops by 14%
Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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@pesanane Toa hiyo news ya CFCStanbic hapa.We don't need Yuan in wazua Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:@pesanane
Toa hiyo news ya CFCStanbic hapa.We don't need Yuan in wazua  Life is short. Live passionately.
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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It was only a matter of time before the bank reverted to Stanbic Bank. The "CFC" prefix was only to allow for cfc bank clients adopt to the changes that came with the merger. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Running an advert that you can borrow up to 80% of your savings. Life is short. Live passionately.
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Rank: Elder Joined: 3/19/2010 Posts: 3,503 Location: Uganda
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sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. punda amecheka
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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newfarer wrote:sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. someone is crazy to borrow 80% of his/her money at 24% rather than just withdraw the savings Life is short. Live passionately.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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sparkly wrote:newfarer wrote:sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. someone is crazy to borrow 80% of his/her money at 24% rather than just withdraw the savings Sometimes banks take us for fools. Im speechless The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: User Joined: 1/20/2014 Posts: 3,528
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Aguytrying wrote:sparkly wrote:newfarer wrote:sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. someone is crazy to borrow 80% of his/her money at 24% rather than just withdraw the savings Sometimes banks take us for fools. Im speechless It happens. Many put fixed deposits and then borrow a %age of it. That is how people make profits and earn dividends and bonuses.  Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Othelo wrote:Aguytrying wrote:sparkly wrote:newfarer wrote:sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. someone is crazy to borrow 80% of his/her money at 24% rather than just withdraw the savings Sometimes banks take us for fools. Im speechless It happens. Many put fixed deposits and then borrow a %age of it. That is how people make profits and earn dividends and bonuses. The interest rate applied could never be 24% unless the FD rate is about 20%. It is a margin of the FD and not normal bank rate. Further, the same is a tax avoidance strategy that is legal in nature
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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obiero wrote:Othelo wrote:Aguytrying wrote:sparkly wrote:newfarer wrote:sparkly wrote:Running an advert that you can borrow up to 80% of your savings. A Sacco gives 3 times, and 10% dividend. someone is crazy to borrow 80% of his/her money at 24% rather than just withdraw the savings Sometimes banks take us for fools. Im speechless It happens. Many put fixed deposits and then borrow a %age of it. That is how people make profits and earn dividends and bonuses. The interest rate applied could never be 24% unless the FD rate is about 20%. It is a margin of the FD and not normal bank rate. Further, the same is a tax avoidance strategy that is legal in nature I am lost. How do you make money by borrowing against your cash deposits, considering the interest rate spread? Life is short. Live passionately.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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This is how , let’s assume you deposit 100K @ interest rate of 7%.
The you borrow 80K at interest of 24%.
You are effectively paying an interest of 17% and will eventually get your money back.
So essentially you are enjoying like the banks would say a lower interest.
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Rank: Elder Joined: 3/19/2010 Posts: 3,503 Location: Uganda
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streetwise wrote:This is how , let’s assume you deposit 100K @ interest rate of 7%.
The you borrow 80K at interest of 24%.
You are effectively paying an interest of 17% and will eventually get your money back.
So essentially you are enjoying like the banks would say a lower interest.
Why not withdraw your 80000 and pay 0% interest instead of 17% then repay your 80000 back to your account instead of repaying the bank loan? punda amecheka
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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newfarer wrote:streetwise wrote:This is how , let’s assume you deposit 100K @ interest rate of 7%.
The you borrow 80K at interest of 24%.
You are effectively paying an interest of 17% and will eventually get your money back.
So essentially you are enjoying like the banks would say a lower interest.
Why not withdraw your 80000 and pay 0% interest instead of 17% then repay your 80000 back to your account instead of repaying the bank loan? Exactly! Why borrow your own money at 17%? Life is short. Live passionately.
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.
Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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streetwise wrote:It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.
Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing
@streetwise let's say that I agree with you. Let us do it practically. Send me KShs 1 million today (or whatever you can manage). I will send you back KShs 800k at 10% interest which is lower than what all banks are offering. Come for the KShs 1m when you finish repaying the KShs 800k. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,050 Location: Nairobi
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Rank: Member Joined: 9/9/2015 Posts: 233
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Gatheuzi wrote:It was only a matter of time before the bank reverted to Stanbic Bank. The "CFC" prefix was only to allow for cfc bank clients adopt to the changes that came with the merger.  Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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 Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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obiero wrote:mugo2of3 wrote:sparkly wrote:obiero wrote:if u know whats good for you, stay away from this one. thank me later @Obiero you are simply unbelievable. Asking people to stay away from CFC with at 80/= with PE 6.7, DY 7.6% and Shareholders Equity KShs 36B. At the same time telling people to buy KQ? I also fail to understand this kind of advice. Wazua is a sharing platform, if you are privy to something that we are not aware of kindly be forthcoming... I have advised no one to buy KQ. I actually sold my KQ in bulk early this year.. I js put info on the table, its anyone here to choose whether to eat or not Those who chose to eat Stanbic are enjoying. Life is short. Live passionately.
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Cfc Stanbic Kenya FY 2015 Profit drops by 14%
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