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Stocks as collateral.
Rank: New-farer Joined: 9/25/2012 Posts: 58 Location: kenia
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Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it.
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. That's crazy. They should arrange a deal for you with Equity Bank. Move to a different bank. Try the mid-sized banks like I&M, DTB, Prime, NIC, CBA, etc Some e.g. NIC, CFCStanbic [give them a miss], CBA (I think), ABC, Chase have brokerage firms. Others e.g. I&M have custody departments. Why bother with a bank/brokerage that doesn't serve your needs? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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VituVingiSana wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. That's crazy. They should arrange a deal for you with Equity Bank. Move to a different bank. Try the mid-sized banks like I&M, DTB, Prime, NIC, CBA, etc Some e.g. NIC, CFCStanbic [give them a miss], CBA (I think), ABC, Chase have brokerage firms. Others e.g. I&M have custody departments. Why bother with a bank/brokerage that doesn't serve your needs? @VVS why give CFC Stanbic a pass?A client of mine has used his as collateral papo hapo. possunt quia posse videntur
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!!
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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maka wrote:VituVingiSana wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. That's crazy. They should arrange a deal for you with Equity Bank. Move to a different bank. Try the mid-sized banks like I&M, DTB, Prime, NIC, CBA, etc Some e.g. NIC, CFCStanbic [give them a miss], CBA (I think), ABC, Chase have brokerage firms. Others e.g. I&M have custody departments. Why bother with a bank/brokerage that doesn't serve your needs? @VVS why give CFC Stanbic a pass?A client of mine has used his as collateral papo hapo. I gave up on them after the CFC-Stanbic merger. Anyway, my experience post-merger. Or I was not a big enough client for them. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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VituVingiSana wrote:maka wrote:VituVingiSana wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. That's crazy. They should arrange a deal for you with Equity Bank. Move to a different bank. Try the mid-sized banks like I&M, DTB, Prime, NIC, CBA, etc Some e.g. NIC, CFCStanbic [give them a miss], CBA (I think), ABC, Chase have brokerage firms. Others e.g. I&M have custody departments. Why bother with a bank/brokerage that doesn't serve your needs? @VVS why give CFC Stanbic a pass?A client of mine has used his as collateral papo hapo. I gave up on them after the CFC-Stanbic merger. Anyway, my experience post-merger. Or I was not a big enough client for them. Totally agreed. CFC-Stanbic---a waste of time. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!!
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Rank: Elder Joined: 6/23/2009 Posts: 13,551 Location: nairobi
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Yes we can! Though 60% margin will apply
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 9/25/2012 Posts: 58 Location: kenia
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Realtreaty wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!! You can be a young Millionaire, I think if you hold between 5-10 Millions worthy of shares the bank should work with you. To add salt to injury you hold same bank shares you are trying to get loan from. To me it sounded like bank don't value their stocks(just saying).
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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young farmer wrote:Realtreaty wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!! You can be a young Millionaire, I think if you hold between 5-10 Millions worthy of shares the bank should work with you. To add salt to injury you hold same bank shares you are trying to get loan from. To me it sounded like bank don't value their stocks(just saying). Seems you met a trainee. One more thing is no longer share certificates that earlier we had to deposit. Cdsc is a bit different and you could privately sell the same shares as there is no way to attach unless the shares are transfered to bank name and account.
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Rank: Veteran Joined: 6/23/2014 Posts: 1,652
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Realtreaty wrote:young farmer wrote:Realtreaty wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!! You can be a young Millionaire, I think if you hold between 5-10 Millions worthy of shares the bank should work with you. To add salt to injury you hold same bank shares you are trying to get loan from. To me it sounded like bank don't value their stocks(just saying). Seems you met a trainee. One more thing is no longer share certificates that earlier we had to deposit. Cdsc is a bit different and you could privately sell the same shares as there is no way to attach unless the shares are transfered to bank name and account. The bank will give you a letter to take to cdsc.CDSC will then freeze the shares indicated.The banks will only take 50% value of the shares. Hutia Mundu!!
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Wamunyota wrote:Realtreaty wrote:young farmer wrote:Realtreaty wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!! You can be a young Millionaire, I think if you hold between 5-10 Millions worthy of shares the bank should work with you. To add salt to injury you hold same bank shares you are trying to get loan from. To me it sounded like bank don't value their stocks(just saying). Seems you met a trainee. One more thing is no longer share certificates that earlier we had to deposit. Cdsc is a bit different and you could privately sell the same shares as there is no way to attach unless the shares are transfered to bank name and account. The bank will give you a letter to take to cdsc.CDSC will then freeze the shares indicated.The banks will only take 50% value of the shares. Word... possunt quia posse videntur
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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young farmer wrote:Realtreaty wrote:young farmer wrote:Which banks or lenders accept stocks as collateral for loans in kenya. I have tried Equity investment bank but can't hear none of it. @ Farmer......Stock is very near to cash and isn't a fixed asset.They wonder why you want to use csh as a collateral for another cash and may well doubt you if your holding is meagre. They will need a millionaire to do that assuming that he is just hungry for an overdraft which is a very short term loan. Long term loan while you hve poor stocks, none will listen to you. Sell your stock and use that cash,....they say.!!!! You can be a young Millionaire, I think if you hold between 5-10 Millions worthy of shares the bank should work with you. To add salt to injury you hold same bank shares you are trying to get loan from. To me it sounded like bank don't value their stocks(just saying). I believe CBK regulations do not allow one to borrow from a bank using shares of the same bank [or a closely related entity]. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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