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Cfc Stanbic Kenya FY 2015 Profit drops by 14%
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streetwise
#31 Posted : Thursday, July 14, 2016 7:30:49 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
This is how , let’s assume you deposit 100K @ interest rate of 7%.

The you borrow 80K at interest of 24%.

You are effectively paying an interest of 17% and will eventually get your money back.

So essentially you are enjoying like the banks would say a lower interest.
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newfarer
#32 Posted : Thursday, July 14, 2016 8:05:23 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
streetwise wrote:
This is how , let’s assume you deposit 100K @ interest rate of 7%.

The you borrow 80K at interest of 24%.

You are effectively paying an interest of 17% and will eventually get your money back.

So essentially you are enjoying like the banks would say a lower interest.


Why not withdraw your 80000 and pay 0% interest instead of 17% then repay your 80000 back to your account instead of repaying the bank loan?
punda amecheka
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sparkly
#33 Posted : Friday, July 15, 2016 7:25:39 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
newfarer wrote:
streetwise wrote:
This is how , let’s assume you deposit 100K @ interest rate of 7%.

The you borrow 80K at interest of 24%.

You are effectively paying an interest of 17% and will eventually get your money back.

So essentially you are enjoying like the banks would say a lower interest.


Why not withdraw your 80000 and pay 0% interest instead of 17% then repay your 80000 back to your account instead of repaying the bank loan?


Exactly! Why borrow your own money at 17%?
Life is short. Live passionately.
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streetwise
#34 Posted : Friday, July 15, 2016 8:28:39 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.

Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing
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sparkly
#35 Posted : Monday, July 18, 2016 7:09:30 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
streetwise wrote:
It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.

Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing



@streetwise let's say that I agree with you. Let us do it practically. Send me KShs 1 million today (or whatever you can manage). I will send you back KShs 800k at 10% interest which is lower than what all banks are offering. Come for the KShs 1m when you finish repaying the KShs 800k.
Life is short. Live passionately.
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VituVingiSana
#36 Posted : Monday, July 18, 2016 9:57:48 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
sparkly wrote:
streetwise wrote:
It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.

Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing



@streetwise let's say that I agree with you. Let us do it practically. Send me KShs 1 million today (or whatever you can manage). I will send you back KShs 800k at 10% interest which is lower than what all banks are offering. Come for the KShs 1m when you finish repaying the KShs 800k.
Laughing out loudly Applause Laughing out loudly Applause Laughing out loudly Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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The Great
#37 Posted : Monday, July 18, 2016 10:36:45 AM
Rank: Member

Joined: 9/9/2015
Posts: 233
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VituVingiSana wrote:
sparkly wrote:
streetwise wrote:
It encourages you to keep your 1M. If you withdraw the 800K , the chances that you will recreate it are very low.

Let me ask you why don't you sell your house instead of taking what they call asset release to do business. Simply because after you repay the loan your house will be left standing



@streetwise let's say that I agree with you. Let us do it practically. Send me KShs 1 million today (or whatever you can manage). I will send you back KShs 800k at 10% interest which is lower than what all banks are offering. Come for the KShs 1m when you finish repaying the KShs 800k.
Laughing out loudly Applause Laughing out loudly Applause Laughing out loudly Applause


Applause Applause Applause Laughing out loudly Laughing out loudly Laughing out loudly
"Buy when there's blood in the streets, even if the blood is your own."
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Pesa Nane
#38 Posted : Friday, July 29, 2016 11:44:45 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Gatheuzi wrote:
It was only a matter of time before the bank reverted to Stanbic Bank. The "CFC" prefix was only to allow for cfc bank clients adopt to the changes that came with the merger.


Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#39 Posted : Thursday, August 04, 2016 1:56:23 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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sparkly
#40 Posted : Sunday, August 12, 2018 6:43:57 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
obiero wrote:
mugo2of3 wrote:
sparkly wrote:
obiero wrote:
if u know whats good for you, stay away from this one. thank me later


@Obiero you are simply unbelievable. Asking people to stay away from CFC with at 80/= with PE 6.7, DY 7.6% and Shareholders Equity KShs 36B. At the same time telling people to buy KQ?


I also fail to understand this kind of advice. Wazua is a sharing platform, if you are privy to something that we are not aware of kindly be forthcoming...

I have advised no one to buy KQ. I actually sold my KQ in bulk early this year.. I js put info on the table, its anyone here to choose whether to eat or not


Those who chose to eat Stanbic are enjoying.
Life is short. Live passionately.
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