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Law Capping interest rates

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muandiwambeu		#1201 Posted : Tuesday, September 20, 2016 8:34:22 PM
Rank: Veteran Joined: 8/28/2015 Posts: 1,247		watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... civic awareness through corporate action. if holding financials, ur out for a nasty pepper tear gassing treat. it gone hurt for a long time. Bp, sukari n salts sitapanda if u r inside now onwards. this is battle of the titans. keep distance . who wins? banks, mpc, mpigs or kamwana. watching from the sides. ,Behold, a sower went forth to sow;....
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Sober		#1202 Posted : Tuesday, September 20, 2016 9:05:02 PM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		CBR rate lowered by 50 points to 10% What happens http://www.businessdaily...387612-q55mif/index.html 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		#1203 Posted : Tuesday, September 20, 2016 9:29:28 PM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... From my understanding there is no much difference as the bank will always be making 4% above the CBR. 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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obiero		#1204 Posted : Tuesday, September 20, 2016 9:37:17 PM
Rank: Elder Joined: 6/23/2009 Posts: 14,321 Location: nairobi		Sober wrote: watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... From my understanding there is no much difference as the bank will always be making 4% above the CBR. There is a difference.. Lower CBR stresses the cost of funds. Higher CBR is better for the banks COOP, IMH, KEGN, KQ, MTNU
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newfarer		#1205 Posted : Tuesday, September 20, 2016 10:37:15 PM
Rank: Elder Joined: 3/19/2010 Posts: 3,505 Location: Uganda		Shak wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? That's funny. Just checked mine and both my easy plus and easy loan limits have increased Hahaha, birdman is a known banker here in wazua, so expect nothing positive on the rate cap from him, rate cap to me is the best thing to happen so far this year. Existing loan instalment with Barclays down. punda amecheka
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Swenani		#1206 Posted : Tuesday, September 20, 2016 10:44:08 PM
Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum		Sober wrote: watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... From my understanding there is no much difference as the bank will always be making 4% above the CBR. Sadly, your understandng is misunderstanding assuming CBR is 10% the spread between rate paid on interest and rate chanrged on loans is only 7% if the CBR goes to 15%, the spread increase to 8.5% if it goes to 100% the spread goes to 34% If Obiero did it, Who Am I?
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MaichBlack		#1207 Posted : Tuesday, September 20, 2016 10:50:09 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,910		Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. @Welder - What makes you imagine Jua Kali means chomelea (welding). Jua Kali is very broad. 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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MaichBlack		#1208 Posted : Tuesday, September 20, 2016 10:53:59 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,910		watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... Welcome to politically driven "economics". The World Bank raised concerns that this law might erode Central Bank's independence. They were afraid that Central Bank might get instructions from the Executive on which direction they should adjust the CBR to. 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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MaichBlack		#1209 Posted : Tuesday, September 20, 2016 10:56:19 PM
Rank: Elder Joined: 7/22/2009 Posts: 7,910		maka wrote: bird_man wrote: guru267 wrote: Impunity wrote: bird_man wrote: Impunity wrote: bird_man wrote: So KCBMpesa is not lending anymore and Equity has reduced the Equitel loan limits! What are the new limits? Have they also reduced the Ezzyloan limits? Yes they have...from 30K to zero and with no communication even. As is, one can only borrow mshwari given KCB is also out of the loan game for now. I still think interest capping is a mistake. Accessing unsecured loans right now is impossible..so what happens to us juakali people with no assets to secure? Use welding machine as a collateral. The Banks will choke the living daylights out of Wanjiku until there are protests to reverse this useless law... Meanwhile they will shift focus to corporate customers, high net worth individuals, T bills and regional subsidiaries... The Act will be reversed...perhaps after elections.It's very good for employees with high salaries and structured business. Mama mboga and the likes cannot meet eligibility criteria anymore. With UK and WSR in power this thing will never be reversed... These are exactly the people who will reverse the law. This was 100% political decision and once UK is back in the house on the hill, be ready for the reversal. I have a feeling the law will not see the end of 2017. 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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Sober		#1210 Posted : Tuesday, September 20, 2016 11:04:26 PM
Rank: Elder Joined: 11/27/2007 Posts: 3,604		Swenani wrote: Sober wrote: watesh wrote: CBR has been lowered. Another hit in the nuts for the banks.... From my understanding there is no much difference as the bank will always be making 4% above the CBR. Sadly, your understandng is misunderstanding assuming CBR is 10% the spread between rate paid on interest and rate chanrged on loans is only 7% if the CBR goes to 15%, the spread increase to 8.5% if it goes to 100% the spread goes to 34% well illustrated. So how wide can CBK swing the so called CBR rate? 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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