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141 Pages«<138139140141>
Law Capping interest rates
tom_boy
#2781 Posted : Sunday, April 07, 2019 9:05:28 PM
Rank: Member


Joined: 2/20/2007
Posts: 681
[quote=obiero]Let me leave this here https://www.businessdail...0530-h9xgfbz/index.html[/quote]

Tough situation but removal of rate caps will only make things worse.
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
Angelica _ann
#2782 Posted : Sunday, April 07, 2019 9:42:58 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,558
tom_boy wrote:
[quote=obiero]Let me leave this here https://www.businessdail...0530-h9xgfbz/index.html[/quote]

Tough situation but removal of rate caps will only make things worse.


These types of borrowing have existed historically ever and ever nothing new!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
obiero
#2783 Posted : Sunday, April 07, 2019 9:47:50 PM
Rank: Elder


Joined: 6/23/2009
Posts: 11,862
Location: nairobi
Angelica _ann wrote:
tom_boy wrote:
[quote=obiero]Let me leave this here https://www.businessdail...0530-h9xgfbz/index.html[/quote]

Tough situation but removal of rate caps will only make things worse.


These types of borrowing have existed historically ever and ever nothing new!

Not at current percentages.. Data is to be understood and not fought
COOP 5,500; KCB 3,700; KQ 221,100
obiero
#2784 Posted : Friday, April 19, 2019 10:15:58 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,862
Location: nairobi
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
COOP 5,500; KCB 3,700; KQ 221,100
Ericsson
#2785 Posted : Friday, April 19, 2019 7:37:03 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,891
Location: NAIROBI
Coop bank will swallow who?
drogon
#2786 Posted : Friday, April 19, 2019 10:58:16 PM
Rank: New-farer


Joined: 11/28/2018
Posts: 42
Location: Nairobi
Ericsson wrote:
Coop bank will swallow who?


Haha, maybe akina Ekeza and Urithi sacco
ombaalbt
#2787 Posted : Saturday, April 20, 2019 9:19:13 AM
Rank: New-farer


Joined: 5/19/2014
Posts: 68
Location: Migori
drogon wrote:
Ericsson wrote:
Coop bank will swallow who?


Haha, maybe akina Ekeza and Urithi sacco


There are rumours that coop bank are the ones behind sidian bank troubles they never wanted mwalimu sacco to get their own bank.
Learning to sit on my hands
drogon
#2788 Posted : Saturday, April 20, 2019 10:50:21 AM
Rank: New-farer


Joined: 11/28/2018
Posts: 42
Location: Nairobi
ombaalbt wrote:
drogon wrote:
Ericsson wrote:
Coop bank will swallow who?


Haha, maybe akina Ekeza and Urithi sacco


There are rumours that coop bank are the ones behind sidian bank troubles they never wanted mwalimu sacco to get their own bank.


I think you mean SPIRE bank.
Sidian ni ile ya Centum.
Ericsson
#2789 Posted : Saturday, April 20, 2019 5:36:17 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,891
Location: NAIROBI
drogon wrote:
ombaalbt wrote:
drogon wrote:
Ericsson wrote:
Coop bank will swallow who?


Haha, maybe akina Ekeza and Urithi sacco


There are rumours that coop bank are the ones behind sidian bank troubles they never wanted mwalimu sacco to get their own bank.


I think you mean SPIRE bank.
Sidian ni ile ya Centum.


They should make an acquisition of a stake in Spire bank to bring Mwalimu back to their stable and teach them a lesson
Ericsson
#2790 Posted : Monday, April 22, 2019 2:05:02 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,891
Location: NAIROBI
Tier 2 and below banks in distress that have so far been swallowed;
Jamii Bora taken over by CBA
NBK--KCB in process

Those still hanging;
Spire Bank
Consolidated Bank
Housing Finance
Ngalaka
#2791 Posted : Tuesday, June 18, 2019 7:26:58 PM
Rank: Veteran


Joined: 10/29/2008
Posts: 1,525

Henry Rotich wrote:
“The aim of the interest rate capping introduced in September 2016 was to reduce the cost of borrowing, increase access to credit and higher return to savings its now going to 3 years and the law has had the opposite effect with micro, small and medium business starved of credit and the loan book of small banks becoming smaller,”

“Conscious of the need to spur business activity, I will in this year’s finance bill be proposing repeal of section 33b of the banking act 2016, I am convinced this will unlock credit to the private sector,”
Isuni yilu yi maa me muyo - ni Mbisuu
Jon Jones
#2792 Posted : Wednesday, June 19, 2019 5:05:16 AM
Rank: New-farer


Joined: 9/11/2015
Posts: 93
Location: Thika
MPs are major beneficiaries of the law capping interest rates. They are viewed as credit worthy, and the law caps the interest they pay to banks. Some owe banks hundreds of millions or intend to borrow such huge figures. They certainly can't pass that law because they will be puking on their shoes.
Since men have learned to shoot without missing, I have learned to fly without perching
tinker
#2793 Posted : Wednesday, June 19, 2019 6:12:29 AM
Rank: Member


Joined: 11/15/2010
Posts: 361
Location: Nairobi
Jon Jones wrote:
MPs are major beneficiaries of the law capping interest rates. They are viewed as credit worthy, and the law caps the interest they pay to banks. Some owe banks hundreds of millions or intend to borrow such huge figures. They certainly can't pass that law because they will be puking on their shoes.


I agree.
But then again, we know most of our MPs serves at behest of their kingpin, if asked to commit suicide for their boss they would do so without second thought.
....He who began a good work in you will carry it on to completion..
Fyatu
#2794 Posted : Wednesday, June 19, 2019 7:48:47 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,468
Location: Nakuru
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.
Dumb money becomes dumb only when it listens to smart money
newfarer
#2795 Posted : Wednesday, June 19, 2019 8:00:14 AM
Rank: Elder


Joined: 3/19/2010
Posts: 3,199
Location: Uganda
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.

nobody should touch that law.greedy banks should not armstwist anyone.
punda amecheka
obiero
#2796 Posted : Wednesday, June 19, 2019 8:12:31 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,862
Location: nairobi
newfarer wrote:
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.

nobody should touch that law.greedy banks should not armstwist anyone.

We are operating under a new normal.. Let us live with it
COOP 5,500; KCB 3,700; KQ 221,100
HaMaina
#2797 Posted : Wednesday, June 19, 2019 8:50:08 AM
Rank: Member


Joined: 4/23/2014
Posts: 620
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.


True the rate cap has helped us against the greedy loan shark banks, and I'm sure it wount go through parliament.

The problem is according to the judgement around February, where a judge actually called it unconstitutional and illegal, and gave parliament a year to correct the law otherwise it would be repealed without any further court appearance(i.e returns to its original state). My issue is we have forgotten about that ruling and our chicken memory governors and mp's will not remember to do anything about the law. I can bet you nnext year the interest rates will most likely increase, and we shall have no one to blame but ourselves for not following up on the ruling.
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
HaMaina
#2798 Posted : Wednesday, June 19, 2019 9:00:26 AM
Rank: Member


Joined: 4/23/2014
Posts: 620
HaMaina wrote:
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.


True the rate cap has helped us against the greedy loan shark banks, and I'm sure it wount go through parliament.

The problem is according to the judgement around February, where a judge actually called it unconstitutional and illegal, and gave parliament a year to correct the law otherwise it would be repealed without any further court appearance(i.e returns to its original state). My issue is we have forgotten about that ruling and our chicken memory governors and mp's will not remember to do anything about the law. I can bet you nnext year the interest rates will most likely increase, and we shall have no one to blame but ourselves for not following up on the ruling.


Here is the link.

https://www.businessdail...6434-6a9knqz/index.html
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
Ngalaka
#2799 Posted : Wednesday, June 19, 2019 11:05:54 AM
Rank: Veteran


Joined: 10/29/2008
Posts: 1,525
HaMaina wrote:
HaMaina wrote:
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.


True the rate cap has helped us against the greedy loan shark banks, and I'm sure it wount go through parliament.

The problem is according to the judgement around February, where a judge actually called it unconstitutional and illegal, and gave parliament a year to correct the law otherwise it would be repealed without any further court appearance(i.e returns to its original state). My issue is we have forgotten about that ruling and our chicken memory governors and mp's will not remember to do anything about the law. I can bet you nnext year the interest rates will most likely increase, and we shall have no one to blame but ourselves for not following up on the ruling.


Here is the link.

https://www.businessdail...6434-6a9knqz/index.html


Hence the proposal by Henry Rotich.
Isuni yilu yi maa me muyo - ni Mbisuu
HaMaina
#2800 Posted : Wednesday, June 19, 2019 11:38:19 AM
Rank: Member


Joined: 4/23/2014
Posts: 620
Ngalaka wrote:
HaMaina wrote:
HaMaina wrote:
Fyatu wrote:
Uhuru Kenyatta is the man squarely behind the rate cap. You cannot tell me that he does not know that things have slowed down since the cap came to effect.He knows.

The interest rate cap will be repealed when he leaves office post 2022. Hiyo ingine yote ni kelele.


True the rate cap has helped us against the greedy loan shark banks, and I'm sure it wount go through parliament.

The problem is according to the judgement around February, where a judge actually called it unconstitutional and illegal, and gave parliament a year to correct the law otherwise it would be repealed without any further court appearance(i.e returns to its original state). My issue is we have forgotten about that ruling and our chicken memory governors and mp's will not remember to do anything about the law. I can bet you nnext year the interest rates will most likely increase, and we shall have no one to blame but ourselves for not following up on the ruling.


Here is the link.

https://www.businessdail...6434-6a9knqz/index.html


Hence the proposal by Henry Rotich.


Last 2 years budgets there have been similar proposals, this time its there to close our eyes and forget the judgement deadline.

“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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