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HSBC ,JP Morgan chase n VISA come knocking.
selah
#1 Posted : Wednesday, March 16, 2011 4:31:44 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
Our local banks should be very worried as this power houses come calling.The cash most of our banks have been making using syndicated loans might be at risk once these highly capitalized institutions set base in the country.

I foresee a very competitive banking sector that will force mergers and acquisition,coupled with the CBK deadline for 1billion core capital requirement which is just some few months away,this does not make it easy for some banks.

http://www.businessdaily...46/-/to6581/-/index.html
'......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
innairobi
#2 Posted : Wednesday, March 16, 2011 4:57:17 PM
Rank: Member


Joined: 9/2/2010
Posts: 845
HSBC and JP Morgan starting full scale banking ops would mainly worry 2 banks - Citigroup and Standard Chartered. More the former which heavily relies on income from US/UK multinationals. Unless they intend to later acquire a local bank (ala Barclays-ABSA), they are likely to fall into the corporate segment of the market and steer clear of retail in the mid-term.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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