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An in-house banker for Wazua anyone ?
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Banker
#21 Posted : Monday, April 08, 2013 9:40:28 AM
Rank: New-farer

Joined: 4/1/2013
Posts: 20
Hallo wazua, Sorry I had an out-of-town weekend with minimal internet access. I note the questions are coming fast and furious. Let me start with the easy ones. FDR vs t-bills ;

A little secret in the industry is that small banks will always offer you a better FDR rate than the big guys for a very simple reason. The big 5 can mobilize deposits very quickly and very cheaply. Think KCB banking holding 80% of the accounts from the best customer in Kenya i.e. GoK. Think BBK banking for most of the big corporates (EABL, Nakumatt,KQ e.t.c) Equity has 6 million customers at the bottom of the pyramid and you know whats amazing about this group, they only bank their savings. Co-op holds money from all coop societies. Did you know stanchart holds the funds for the free primary education ? KCB and Co-op hold about 90% of all CDF accounts in Kenya.

Before you move your funds, I once had a customer who went to one of the small guys at the beginning of 2012 when interest rates hit the roof. They offered him 29% for 100mn. The t-bill rate was at 18%, and the interbank was at 16%. Wait until he wanted to withdraw the funds!! Thats a story for another day.
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Banker
#22 Posted : Monday, April 08, 2013 9:53:12 AM
Rank: New-farer

Joined: 4/1/2013
Posts: 20
aemathenge wrote:
Fifteen years in one bank and not stolen a dime where the elephant in the bank is that employees are the biggest thieves?

@Obiero, I am serious.

obiero wrote:
aemathenge wrote:
Take me through the immediate last process you took part in in stealing money from your employer.

Or just go away.

Hahahaha. U have killed me



@Mathenge, I take it you are the in-house bully. will remember that.
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Banker
#23 Posted : Monday, April 08, 2013 10:01:52 AM
Rank: New-farer

Joined: 4/1/2013
Posts: 20
digitek1 wrote:
@banker 1m Sacco vs bank loan
there is a long thread somewhere


As a banker, I would say borrow from the Sacco anytime. Am thinking in terms of the financing costs of your project. As a borrower, it would depend. To get 1m from your sacco you must have deposit of around Kes.350,000 earning between 8-12 % p.a. From my interaction with Jua kali guys, they would laugh at you if you told them your 350k earned you Kes.36k or 3k per month. Majority of them would double that figure in less than one year. Thats why they dont mind borrowing at 25%. But if you are employed, stick to the sacco. It adds up to your pension to improve your networth.
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Pesa Nane
#24 Posted : Monday, April 08, 2013 10:19:33 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
mwekez@ji wrote:
cc @Banker >>> http://www.wazua.co.ke/forum.as...710&f=1&q=396358 #Post No. 10


ACCESS DENIED: You tried to enter a area where you didn't have access. Sad Sad
Pesa Nane plans to be shilingi when he grows up.
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mwekez@ji
#25 Posted : Monday, April 08, 2013 10:26:16 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Pesa Nane wrote:
mwekez@ji wrote:
cc @Banker >>> http://www.wazua.co.ke/forum.as...710&f=1&q=396358 #Post No. 10


ACCESS DENIED: You tried to enter a area where you didn't have access. Sad Sad


Ooops. The link is >>> http://www.wazua.co.ke/forum.as...s&t=23710#post396358
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aemathenge
#26 Posted : Monday, April 08, 2013 3:11:51 PM
Rank: Elder

Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
Let me rephrase. How do banks account for employee fund theft on their books and how are employee thieves treated?

Banker wrote:
aemathenge wrote:
Fifteen years in one bank and not stolen a dime where the elephant in the bank is that employees are the biggest thieves?

@Obiero, I am serious.

obiero wrote:
aemathenge wrote:
Take me through the immediate last process you took part in in stealing money from your employer.

Or just go away.

Hahahaha. U have killed me



@Mathenge, I take it you are the in-house bully. will remember that.
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washiku
#27 Posted : Monday, April 08, 2013 4:30:26 PM
Rank: Chief

Joined: 5/9/2007
Posts: 13,095
@aemathenge, you sound so interested in this topic. Is it that you want to start a bank or you want to do it and cover up? This reminds me you were terminated some time back...hope these tendencies were nowhere near the reason.

aemathenge wrote:
Let me rephrase. How do banks account for employee fund theft on their books and how are employee thieves treated?

Banker wrote:
aemathenge wrote:
Fifteen years in one bank and not stolen a dime where the elephant in the bank is that employees are the biggest thieves?

@Obiero, I am serious.

obiero wrote:
aemathenge wrote:
Take me through the immediate last process you took part in in stealing money from your employer.

Or just go away.

Hahahaha. U have killed me



@Mathenge, I take it you are the in-house bully. will remember that.
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aemathenge
#28 Posted : Monday, April 08, 2013 5:21:52 PM
Rank: Elder

Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
washiku wrote:
@aemathenge, you sound so interested in this topic. Is it that you want to start a bank or you want to do it and cover up? This reminds me you were terminated some time back...hope these tendencies were nowhere near the reason.

After being summarily dismissed for gross insubordination, I joined freelancer.com and oDesk.com as a programming freelancer and contractor.

I have noticed that some hidden well paying contracts involve writing script that attaches a certain programme that deducts a certain miniscule percentage from every transaction to the main software which is run by local banks.

Part of the requirements to get the contract is either to be a current or recent employee of a bank.

I am interested in the banker's version on how management treats theft in the books and punishment meted out to those CAUGHT. Is it worth the risk to write the script?
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Ngong
#29 Posted : Monday, April 08, 2013 8:23:20 PM
Rank: Veteran

Joined: 11/17/2012
Posts: 1,461
Location: Ngong Forest
Banker wrote:
aemathenge wrote:
Fifteen years in one bank and not stolen a dime where the elephant in the bank is that employees are the biggest thieves?

@Obiero, I am serious.

obiero wrote:
aemathenge wrote:
Take me through the immediate last process you took part in in stealing money from your employer.

Or just go away.

Hahahaha. U have killed me



@Mathenge, I take it you are the in-house bully. will remember that.


No he is not a bully,you should apologize!
He works for an investment group that plans to be a bank soon!
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aemathenge
#30 Posted : Thursday, April 11, 2013 2:44:48 AM
Rank: Elder

Joined: 10/18/2008
Posts: 3,434
Location: Kerugoya
Mr. Banker? I cannot bully you if you do not visit. Do not be a stranger. Talk to us often.
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