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If you believed half of what you read in the emails that have been circulating about Equity Bank you would be expecting the bank to collapse at any time.
Based on the information I have managed to gather this is NOT true.
There are two main things that can cause a bank to go down. Firstly not being able to generate enough revenue and secondly non-performing loans in its' books. Equity suffers none of these two. Interestingly, according to confidential information that I was able to see, almost all the loans the bank gives are very small amounts to individuals and small business people. Meaning that even if some of them were to go bad, it would hardly leave a dent.
But the thing that shocked even me, was the revenue generation happening at the bank. WOW!! Let me simplify it so that everybody can understand.
Equity bank now has 1.4 million account holders. Any seasoned entrepreneur will tell you that when you have critical mass in numbers like these you can hardly go wrong.
Every time those 1.4 millions folks breathe, Equity makes money.
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Kumekucha-excellent articles.
ReplyDeleteYou've done what many a Kenyan refuses to do. Research. Instead many choose ignorance as their reference book.
One of the most compelling and logical questions peeps need to ask about Mwangi's so-called ksh200m from Trade Bank is this. Why would you, if you had that kind of money go thru what Equity had go thru between 1993-2000 i.e. going from office to office, farmer to farmer in Muranga and Karatina/Mukurweini trying to convince to deposit their meagre funds with you or take a short-term loan?
Did you know that Equity advances cash to coffee, tea and dairy farmers, provided they open and acciunt there and deduct the same when they dividends are paid. Using the ignorance of the farmers, the bank has thrown some to penury (FACT)
ReplyDeletePlease don’t worry Equity Bank is strong and will go stronger and stronger.
ReplyDeleteThe thing is that the “Big” banks you think cares a lot for you are the ones paying for this kind of rubbish to tarnish the name of Equity Bank and the rest of small Banks.
It’s just some kind of Trade wars.
Equity Bank and Family Bank are banks for poor Kenyans who are the majority.
Lets not take the shit from some of our useless Mps who were paid to go and claim in parliament that there is a problem with Equity Bank!!!!!!!!!!!.
They are fools who are selling out to Kenyans to Multinationals and foreigners because of small ugali they have eaten!!!!!!!!!!!
Be a Kenyan and love your country Pls.and love Kenyan Bank for Kenyans and by Kenyans.
When multinationalbanks were going for corprate world the same mistake Celtel did. Equity was going for common mwananchi.
ReplyDeleteIts the masses who have the money .I love Equity
The common Mwananchi Bank