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Equity Bank Q1 2016 Results
Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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VituVingiSana wrote:Shak wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. What a jump though @VVS. Let's hope they don't get burnt by a high default rate What's the difference between Eazzy and Eazzy Plus? Eazzy plus is a new product that was introduced for equitel subscribers. I am not sure why it allows one to borrow a higher amount
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Rank: Elder Joined: 7/22/2009 Posts: 7,460
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VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. @Shak - Equity has been dealing with so called risky customers since day one and it keeps growing every single year. If there is one thing Equity knows, it is how to assess and manage risks. Rest easy. Your loan limit is well thought out. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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MaichBlack wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. @Shak - Equity has been dealing with so called risky customers since day one and it keeps growing every single year. If there is one thing Equity knows, it is how to assess and manage risks. Rest easy. Your loan limit is well thought out. Just found out that the maximum loan one can take through this product is Kshs.3 million but must be repaid within 12 months.
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Rank: Veteran Joined: 8/10/2014 Posts: 977 Location: Kenya
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Shak wrote:MaichBlack wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. @Shak - Equity has been dealing with so called risky customers since day one and it keeps growing every single year. If there is one thing Equity knows, it is how to assess and manage risks. Rest easy. Your loan limit is well thought out. Just found out that the maximum loan one can take through this product is Kshs.3 million but must be repaid within 12 months. Mine started at 15k and dropped to 0 the next month and has been 0 ever since. Never borrowed a loan ever. My mshwari is at 12k, borrowed once paid it by the end of the day. I guess Equity just doesnt trust me hahaha
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Rank: Member Joined: 1/31/2007 Posts: 304
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Shak wrote:VituVingiSana wrote:Shak wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. What a jump though @VVS. Let's hope they don't get burnt by a high default rate What's the difference between Eazzy and Eazzy Plus? Eazzy plus is a new product that was introduced for equitel subscribers. I am not sure why it allows one to borrow a higher amount My sim card seems to have only one limit the, eazzy loan.How do you check the limit for Eazzy plus?
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Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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moneydust wrote:Shak wrote:VituVingiSana wrote:Shak wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. What a jump though @VVS. Let's hope they don't get burnt by a high default rate What's the difference between Eazzy and Eazzy Plus? Eazzy plus is a new product that was introduced for equitel subscribers. I am not sure why it allows one to borrow a higher amount My sim card seems to have only one limit the, eazzy loan.How do you check the limit for Eazzy plus? @money dust under loans are two options: eazzy loan and plus, at least on mine shows that . Maybe you need to update your SIM card
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Rank: Member Joined: 1/31/2007 Posts: 304
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Shak wrote:moneydust wrote:Shak wrote:VituVingiSana wrote:Shak wrote:VituVingiSana wrote:Shak wrote:About a month ago my eazzy loan limit was 20,000 and eazzy loan plus limit was 25,000. Just checked now to find that the amounts have changed to 67,500 and 652,300 respectively! I only use my bank account for salary processing. How is it that all of a sudden I can borrow hundreds of thousands of shillings? Has anyone else noticed this?Dr. Mwangi did indicate yesterday that they had increased the loan limit by 5 times. Is this good for business? Have they really taken into account one's ability to pay? There will be some defaults but overall Equity has looked at your credit-worthiness. Your salary, your CRB report, your balances, etc. What a jump though @VVS. Let's hope they don't get burnt by a high default rate What's the difference between Eazzy and Eazzy Plus? Eazzy plus is a new product that was introduced for equitel subscribers. I am not sure why it allows one to borrow a higher amount My sim card seems to have only one limit the, eazzy loan.How do you check the limit for Eazzy plus? @money dust under loans are two options: eazzy loan and plus, at least on mine shows that . Maybe you need to update your SIM card Okay I will have it updated
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%. Happily accessed it. They deduct 26,009 every month from the account. @SufficientlyP
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Sufficiently Philanga....thropic wrote:Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account. They are a making a killing out of those short term loans... possunt quia posse videntur
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Rank: Member Joined: 7/24/2010 Posts: 236 Location: nairobi
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maka wrote:Sufficiently Philanga....thropic wrote:Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account. They are a making a killing out of those short term loans... Real killing, but better than others which could be murder.
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Rank: Member Joined: 7/24/2010 Posts: 236 Location: nairobi
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innovator wrote:maka wrote:Sufficiently Philanga....thropic wrote:Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account. They are a making a killing out of those short term loans... Real killing, but better than others which could be murder. ooh that's 2% a month, not bad if paid fast.
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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By the way, their SMS loans at Brick and mortar are at the same rate of 24%. I think the equitel loans are a good working capital management tool.....only access the cash when absolutely needed and pay it off as soon as your debtors pay up, to cut on the total interest paid. @SufficientlyP
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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Sufficiently Philanga....thropic wrote:Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account. That quite pricey when one looks at it from a reducing balance perspective. How can you afford it? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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VituVingiSana wrote:Sufficiently Philanga....thropic wrote:Updated mine to easyplus at my local branch last month and immediately saw my loan limit shoot up to KES.251,700 payable in 12months at a fixed interest rate of 24%.
Happily accessed it. They deduct 26,009 every month from the account. That quite pricey when one looks at it from a reducing balance perspective. How can you afford it? True that, ODs,working capital financing/short term loans dont come cheap. They are meant to keep the business doors open for more business as you wait for the slow debtors to pay up. Huge opportunity and initiative for SME banks like Equity to crack this segment which is the next growth frontier. @SufficientlyP
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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Equity bank assets grew by sh.2bn in the period between Jan 1-March 31 2016. The jump in profits in Q1 2016 compared to Q1 2015 was due to investment in government securities which grew from sh.42bn as at end of December 31 2015 to sh.62bn as at March 31 2016. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 977 Location: Kenya
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Equity Afia plans already rolling out
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Rank: Member Joined: 5/30/2016 Posts: 332 Location: Kayole
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watesh wrote:
Equity Afia plans already rolling out
Good things poppin' KEGN, KPLC, KQ, SCOM
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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watesh wrote:
Equity Afia plans already rolling out
Where is this location? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/10/2014 Posts: 977 Location: Kenya
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VituVingiSana wrote:watesh wrote:
Equity Afia plans already rolling out
Where is this location? I think Rongai
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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the Star wrote:Equity Bank has 14 days to file assessment documents in a case where eight former employees are seeking over Sh100 million as compensation.
Justice Fred Ochieng made the orders after the court was informed that the bank had admitted the liability for failing to disclose and pay the employees their unit-shareholdings.
Ochieng further directed the parties to file facts agreed to enable the court give judgment on the quantity of damages to be awarded to the eight.
Plaintiffs in the case are Patrick Pamba, Edna Mwangi, Arthur Washe, John Thagana, John Nderitu, Jacob Obiero, Edward Waweru and John Kamau.
They accuse bank trustees of "blantantly and deliberately" failing to comply with the provisions of Section 117 of the Capital Markets (Collective Investment Schemes) Regulations 2001.
The provision ensures that a repurchase of units in an ESOP shall reflect the latest traded price of the company's shares at the Nairobi Securities Exchange. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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