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Law Capping interest rates
Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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guru267 wrote:wukan wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional He said slowdown to SME was one of the unintended consequences of capping. it concerns him and it's one issue he will actively seek to resolve so that credit can start flowing again. Hooray!! Reverse this b**ch!  Cap rate will be hard to be reversed by Mpigs since they have taken substantial loans for personal development. Secondly, the statement made by the president was political to please a section of the population that don't matter so much to Jubulee vote-wise. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: Veteran Joined: 3/26/2012 Posts: 985 Location: Dar es salaam,Tanzania
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murchr wrote:Metasploit wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Where is the link to this sweet infor ? Click https://youtu.be/uBMqiElZ4DY?t=13m30s
Thanks Murchr... By 2018 the rate cap will be out.It was never a good idea
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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Rank: Elder Joined: 2/22/2009 Posts: 2,449 Location: Africa
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maka wrote:Angelica _ann wrote:murchr wrote:Metasploit wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Where is the link to this sweet infor ? Click https://youtu.be/uBMqiElZ4DY?t=13m30s
Better position self now slowly step by step  Who wants to bet there is NO way this thing will be overturned before elections....the way guys are enjoying the 14%...ati it goes back to 18-21%.Never ever... Who exactly is enjoying the 14% when banks have stopped lending?
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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Shak wrote:maka wrote:Angelica _ann wrote:murchr wrote:Metasploit wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Where is the link to this sweet infor ? Click https://youtu.be/uBMqiElZ4DY?t=13m30s
Better position self now slowly step by step Who wants to bet there is NO way this thing will be overturned before elections....the way guys are enjoying the 14%...ati it goes back to 18-21%.Never ever... Who exactly is enjoying the 14% when banks have stopped lending? buy banks after the Q1 shock "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Shak wrote:maka wrote:Angelica _ann wrote:murchr wrote:Metasploit wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Where is the link to this sweet infor ? Click https://youtu.be/uBMqiElZ4DY?t=13m30s
Better position self now slowly step by step Who wants to bet there is NO way this thing will be overturned before elections....the way guys are enjoying the 14%...ati it goes back to 18-21%.Never ever... Who exactly is enjoying the 14% when banks have stopped lending? The ones who had loans... possunt quia posse videntur
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Rank: Elder Joined: 6/23/2009 Posts: 13,568 Location: nairobi
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maka wrote:Shak wrote:maka wrote:Angelica _ann wrote:murchr wrote:Metasploit wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Where is the link to this sweet infor ? Click https://youtu.be/uBMqiElZ4DY?t=13m30s
Better position self now slowly step by step Who wants to bet there is NO way this thing will be overturned before elections....the way guys are enjoying the 14%...ati it goes back to 18-21%.Never ever... Who exactly is enjoying the 14% when banks have stopped lending? The ones who had loans... True but at a great price to the larger economy. The inflation is eating up every shilling allegedly saved by the rate cap
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 12/11/2006 Posts: 884
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This law was political. I think govt should try to be innovative with the law so that they control interest rates without necessarily hurting lending and the economy. Just like they exempted paying interests on transaction accounts, they should exempt caps on unsecured loans or widen the margin above cbr “Invest in yourself. Your career is the engine of your wealth.”
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Where are those guys who said they'll get big loans and this law won't affect bank performance? Delusional. Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 1/20/2011 Posts: 1,820 Location: Nakuru
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CBK Governor quoted by WSJ saying that cap on interest rate was "temporary"....Today's Standard Newspaper page 5. Is the bull arriving sooner than expected?? Dumb money becomes dumb only when it listens to smart money
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Rank: Veteran Joined: 8/28/2015 Posts: 1,247
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Fyatu wrote:CBK Governor quoted by WSJ saying that cap on interest rate was "temporary"....Today's Standard Newspaper page 5. Is the bull arriving sooner than expected?? 2017 is a passover year. Blood letting continues shortly. Whoever who thinks that the already loaned aren't enough economy drivers, let them try and they will be knowing shortly hata umbaru ni darasa la kumpeana elimu uzeeni.ishindwe pepo mbaya hiyo. Savings being made is yet to bring the multiplier effect seriously needed to JumpStart our economy. Mpigs and civil sufferers wapuguziwe pay, wanakula saana juu ya wengi. Hehehe. ,Behold, a sower went forth to sow;....
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Rank: Elder Joined: 9/20/2015 Posts: 2,811 Location: Mombasa
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Fyatu wrote:CBK Governor quoted by WSJ saying that cap on interest rate was "temporary"....Today's Standard Newspaper page 5. Is the bull arriving sooner than expected?? The bull doesn't come by observation but cometh like a thief. John 5:17 But Jesus replied, “My Father is always working, and so am I.”
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Not surprised! Quote:kazi yangu ni kuweka kidole mi sifanyi sheria If Obiero did it, Who Am I?
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Swenani wrote:Ericsson wrote:President Kenyatta regrets signing Bill To Cap rates, says that the slow-down in lending by Banks is unfortunate & unintentional Not surprised! Quote:kazi yangu ni kuweka kidole mi sifanyi sheria 
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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ngapat wrote:This law was political. I think govt should try to be innovative with the law so that they control interest rates without necessarily hurting lending and the economy.
Just like they exempted paying interests on transaction accounts, they should exempt caps on unsecured loans or widen the margin above cbr
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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Everyone is hearing what they want to hear. The president did not regret capping the bank rates, he said the lack of credit flow to SME's was an unfortunate consequence which he will work on. "work on" in my opinion does not equate to reversing the capping law (which by the way he can't even if he wanted to) Let him use other means for example reduce the govt appetite for borrowing from the domestic market. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Veteran Joined: 10/29/2008 Posts: 1,566
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http://www.nation.co.ke/...2920-s22ti0z/index.html
Quote:Banks have said only removal of the interest rates cap could release credit flow to the private sector, responding to President Uhuru Kenyatta’s announcement in Wednesday’s State of the Nation address.
Most of the banks that have announced their 2016 full-year results have reported shrunken loan books in the period, with personal and SME loans taking the biggest hit due to their relatively higher risk profile.
“This is an issue that concerns us and is one that I will actively seek to resolve so that credit can start to flow again to the real drivers of our economy,” said the President.
Isuni yilu yi maa me muyo - ni Mbisuu
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Rank: Veteran Joined: 11/13/2015 Posts: 1,597
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Obi 1 Kanobi wrote:Everyone is hearing what they want to hear.
The president did not regret capping the bank rates, he said the lack of credit flow to SME's was an unfortunate consequence which he will work on. "work on" in my opinion does not equate to reversing the capping law (which by the way he can't even if he wanted to)
Let him use other means for example reduce the govt appetite for borrowing from the domestic market. This was more of a dog whistle for certain voting region
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Rank: Elder Joined: 6/23/2009 Posts: 13,568 Location: nairobi
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obiero wrote:obiero wrote:obiero wrote:obiero wrote:sparkly wrote:obiero wrote:MaichBlack wrote:obiero wrote:muandiwambeu wrote:[quote=Ebenyo][quote=obiero]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
80% of deposits are currently held in 7 banks in this country. Consolidation of institutions in the financial sector will pick up speed as we head deeper into turbulent economic times. Dubai, Imperial, Giro and Habib bank down.. Who's next??
COOP 70,000 ABP 15.20; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 10/3/2014 Posts: 20
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wukan wrote:Obi 1 Kanobi wrote:Everyone is hearing what they want to hear.
The president did not regret capping the bank rates, he said the lack of credit flow to SME's was an unfortunate consequence which he will work on. "work on" in my opinion does not equate to reversing the capping law (which by the way he can't even if he wanted to)
Let him use other means for example reduce the govt appetite for borrowing from the domestic market. This was more of a dog whistle for certain voting region Well said. and part of 'work on' is now M-Akiba. More 'work on' oncoming
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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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Obi 1 Kanobi wrote:Everyone is hearing what they want to hear.
The president did not regret capping the bank rates, he said the lack of credit flow to SME's was an unfortunate consequence which he will work on. "work on" in my opinion does not equate to reversing the capping law (which by the way he can't even if he wanted to)
Let him use other means for example reduce the govt appetite for borrowing from the domestic market. Rate~cap days are numbered. No matter how deep the ostrich sinks its head in the bloody sand. HERECS Rotich's take as of yesterday 27th MarchTreasury secretary Henry Rotich yesterday said the government is mulling reviewing the caps in the wake of a sharp decline in credit growth. “We are monitoring the situation very closely. This will inform our next course of action, including reviewing the caps if that’s necessary,” said Mr Rotich in a separate event.
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