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Law Capping interest rates
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Ericsson
#2811 Posted : Saturday, August 24, 2019 8:41:26 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
whiteowl wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
MaichBlack wrote:
Ebenyo wrote:
obiero wrote:
I told you guys to sell off bank stocks in 2014. Luckily made it out of some major holdings in good time..


but a big percent of your portfolio is still in banks!

so, what do you expect to be a fair hair cut on obieros portfolio as a result of kamwanaas house attempt to please Wanjiku. what will be the overall industries' hit in percentage. my fair guess from my lender's perspective
(16-14.5)/(16*0.5)*100=18.75% conservetively
thieves.

COOP & HF will come out strongest in this.. Too little meat to be bitten out from the two. Plus HF has never been strong on deposits being only licensed to have current accounts a few months ago!! HF will have the least interest expense of all listed lenders

Hey @Obiero. Bill not signed. And please note I did not put the word 'yet' at the end.

Its bound to be signed on Monday 29th Aug 2016


The bankers will visit statehouse with big brown envelop and this story will be forgotten.

Smaller banks will fold

Here we are...
Family fires it's staff https://citizentv.co.ke/...fs-to-cut-costs-143841/
and then Sidian lays off 108 workers http://www.businessdaily...9550-3428588-151f209z/,
then Ecobank collapses 9 branches http://www.businessdaily...6506-316lohz/index.html
First Community Bank let go of a quarter of its staff http://www.the-star.co.k...osed-number-of_c1451638
And now BoA closes 12 branches. Sad state of affairs http://www.businessdaily...2926-jp394sz/index.html

Sidian, NBK, Family, HF, NIC struggling.. Small banks shall fold

The goose is cooked for NBK


NBK has 9 lives,it was supposed to go down even before Dubai bank but its still standing.

@whiteowl NBK in its current form and shape cannot survive.. It must be absorbed by a real bank. Smaller banks must close shop unless the caps are reversed http://www.nation.co.ke/...9774-14pykoy/index.html

Boom boom pow. Small banks have nowhere to turn

Another one down.. HF is likely to be eaten up by Equity

Smaller banks will continue to fold. NBK towel thrown in. The sector is halfway done with the M&A action


Umehesabiwa obiero?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#2812 Posted : Saturday, August 24, 2019 8:44:34 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,220
Location: nairobi
Ericsson wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
whiteowl wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
MaichBlack wrote:
Ebenyo wrote:
obiero wrote:
I told you guys to sell off bank stocks in 2014. Luckily made it out of some major holdings in good time..


but a big percent of your portfolio is still in banks!

so, what do you expect to be a fair hair cut on obieros portfolio as a result of kamwanaas house attempt to please Wanjiku. what will be the overall industries' hit in percentage. my fair guess from my lender's perspective
(16-14.5)/(16*0.5)*100=18.75% conservetively
thieves.

COOP & HF will come out strongest in this.. Too little meat to be bitten out from the two. Plus HF has never been strong on deposits being only licensed to have current accounts a few months ago!! HF will have the least interest expense of all listed lenders

Hey @Obiero. Bill not signed. And please note I did not put the word 'yet' at the end.

Its bound to be signed on Monday 29th Aug 2016


The bankers will visit statehouse with big brown envelop and this story will be forgotten.

Smaller banks will fold

Here we are...
Family fires it's staff https://citizentv.co.ke/...fs-to-cut-costs-143841/
and then Sidian lays off 108 workers http://www.businessdaily...9550-3428588-151f209z/,
then Ecobank collapses 9 branches http://www.businessdaily...6506-316lohz/index.html
First Community Bank let go of a quarter of its staff http://www.the-star.co.k...osed-number-of_c1451638
And now BoA closes 12 branches. Sad state of affairs http://www.businessdaily...2926-jp394sz/index.html

Sidian, NBK, Family, HF, NIC struggling.. Small banks shall fold

The goose is cooked for NBK


NBK has 9 lives,it was supposed to go down even before Dubai bank but its still standing.

@whiteowl NBK in its current form and shape cannot survive.. It must be absorbed by a real bank. Smaller banks must close shop unless the caps are reversed http://www.nation.co.ke/...9774-14pykoy/index.html

Boom boom pow. Small banks have nowhere to turn

Another one down.. HF is likely to be eaten up by Equity

Smaller banks will continue to fold. NBK towel thrown in. The sector is halfway done with the M&A action


Umehesabiwa obiero?

I’m in Connecticut!

KQ ABP 4.26
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littledove
#2813 Posted : Tuesday, September 10, 2019 3:21:54 PM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html

A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.

The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.

........................
GIVE CREDIT

“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.

Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”

At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES.
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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tom_boy
#2814 Posted : Wednesday, September 11, 2019 7:17:09 AM
Rank: Member

Joined: 2/20/2007
Posts: 767
littledove wrote:
https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html

A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.

The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.

........................
GIVE CREDIT

“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.

Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”

At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES.


For once MPigs are thinking right.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
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wukan
#2815 Posted : Wednesday, September 11, 2019 2:39:25 PM
Rank: Veteran

Joined: 11/13/2015
Posts: 1,654
tom_boy wrote:
littledove wrote:
https://www.nation.co.ke/business/MPs-oppose-interest-rate-cap-repeal/996-5266530-on6gs0z/index.html

A parliamentary committee has opposed a proposal by National Treasury to have the interest rate capping law repealed saying it will subject Kenyans to expensive credit at the expense of commercial banks, a majority of them multinationals.

The proposal to amend section 33 (b) of the Banking Act, is contained in the Finance Bill 2019, currently before the National Assembly.

........................
GIVE CREDIT

“I disagree with you. The banks decide who to give credit to. The removal of interest caps will only benefit few shareholders and encourage capital flight,” Mr Atandi said.

Mr Atandi wondered why Treasury was so keen on the matter and whether it is “speaking for the banks that failed to convince us to have the caps removed.”

At some point, Mr Atandi advised the government to stop borrowing from local banks saying it has made the cost of credit so high to the SMES.


For once MPigs are thinking right.


yaaaaaawn...wharever. We accepted and moved on. They repeal, they don't who cares. You can't buck the markets
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Ericsson
#2816 Posted : Thursday, September 12, 2019 9:51:11 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Treasury has cut revenue targets by sh.100bn as staff layoffs bite,corporate profits dip and several firms close shop.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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KulaRaha
#2817 Posted : Thursday, September 12, 2019 10:07:15 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Ericsson wrote:
Treasury has cut revenue targets by sh.100bn as staff layoffs bite,corporate profits dip and several firms close shop.


But the economy is booming......
Business opportunities are like buses,there's always another one coming
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Fyatu
#2818 Posted : Thursday, September 19, 2019 2:05:44 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends?
Dumb money becomes dumb only when it listens to smart money
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Gathige
#2819 Posted : Thursday, September 19, 2019 2:10:04 PM
Rank: Elder

Joined: 3/29/2011
Posts: 2,242
Fyatu wrote:
Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends?


Akothee was in Parliament yesterday. Lets hope it works out
"Things that matter most must never be at the mercy of things that matter least." Goethe
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Fyatu
#2820 Posted : Thursday, September 19, 2019 2:23:04 PM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Gathige wrote:
Fyatu wrote:
Can a slay queen be sent to Jude Njomo with the sole purpose of derailing him from making ammendments to the Banking act? If it happened to Linturi then it can happen to Njomo ama namna gani my friends?


Akothee was in Parliament yesterday. Lets hope it works out


Laughing out loudly Laughing out loudly Laughing out loudly
Dumb money becomes dumb only when it listens to smart money
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