What equity is doing now is what they should have done eons ago.
This counter is very lucrative but for those of us who strictly believe in fundamentals,and by this I dont mean the balance sheet growth but the management of the company, then I would look at it twice.
The new innitiatives in banking that this bank comes up with are very lucrative especiaally in growing their liabilities but they can only make good profits if they manage them proffessionally which I dont think they do starting with their recruitment process.
-Their compliance department is their greatest undiong espesially in giving unsecured loans to the self employed.
-In some branches they will indirectly tell you to part with TKK so that your loan can move fast of which if you can part with something small you will get a loan faster than if you have the ability to repay it.Some time back heads have rolled for this.
-Also,the compliance department at the branch level credits your account directly once the loan is approved at the branch.In other banks that have been in this market for long, creditng of loans is done from a central place at the head office after another compliance team goes thru your application.
-If a customer applies for an ATM card,once the card is processed,both the card and the PIN are held at the branch.(Banks with experience in this will hold the card and mail the PIN to your address i.e if they are not processing the card for you as you wait to put your own PIN).This is another avenue for inhouse fraud to occur.
-I think their idea of merging their compliance department with other departments is ill adviced.
-They would have scrapped other irrelevant departments and used this resources to strengthen their compliance and controls department if they have one.Their aggressive lending requires an idependent compliance department better than the one they have currently.Bila compliance pesa zita endelea kupotea.May be this shake up ni juu pesa zimepotea or Bad Debts zime ongezeka.
-This bank has very good ideas but there is so much they have been taking for granted and if the time to bring order has come then be it.

BTW, CFC Stanbic wants a PIN card/certificate for an account.

1) Do all banks ask for the PIN cert from KRA?
2) How does Equity open accounts since I doubt (I may be wrong) Equity requires a PIN cert.

Banks usually require PIN certs for opening Business Current accounts but not for ordinery Savings accoonts.