Bank Safety Net

and other brief’s

Kenya’s deposit protection fund results are also out. They fund had about Kshs. 18 billion ($240 million) invested in government securities to protect depositors in case one of Kenya’s 45 banks collapses – and pay each account holder up to Kshs. 100,000 (~$1,333). The fund now covers account holders in the two new Shariah banks who were excluded a year ago

Lending crunch? wooing customers
– CFC/Stanbic – win out of the blue; open an account with Kshs. 10,000 and win one of 5 cruises, flat screen TV, digcam, ipods, satellite TV decoders (with subscription)
– Stanchart – take unsecured loan of Kshs. 750,000 or more and get a DVD player
– KCB – spend more than Kshs. 2,500 on your credit cards and you may win a DVD, TV, mobile phones or a holiday

Going regional Equity Bank hiring staff to work in South Sudan, while East African Development Bank is hiring staff to work in Rwanda

Mobile payments Old Mutual customers/fund investors can now pay their monthly subscriptions by M-Pesa – Safaricom’s mobile phone money transfer facility. Banks have already a ceded a significant chunk of the local the money transfer business to mobile phone, who are now expanding into investment and utility payment turf of banks.

8 thoughts on “Bank Safety Net

  1. Anonymous

    Here in UK, the best deal I’ve seen so far is – buy 4 Apartments and get 2 Free…I’m still waiting to see if there’s anyone who’ll come up with a better deal that that 🙂 Other deals are either a free car or a 2 weeks holiday at the Caribbean when you buy a property. Interesting isn’t?

  2. propaganda

    If they have to bribe you to take the money, things are bad. Nobody wants to borrow.

    Stanchart loans are now in the 19 per cent range. So, yeah, they can throw in some crap DVD player.

  3. Mitzy

    Saw the CFC ad with the list of prizes. For the 5 cruises, there’s a disclaimer if one isn’t granted a visa, they have to forfeit the trip!

  4. bankelele

    Coldtusker: there have been stories that some banks are cutting back lending

    Anon: even better, I read that one General Motors dealer (in US) is giving GM shares to buyers of GM cars as an incentive

    Propaganda: yes loans are almost at 20% for small companies,while unsecured individuals are higher

    Ravinder: I’m sure it will be on the CBK site in a few days

    Mitzy: That’s a shame, they should substitute it. (even many winners of car prizes, opt for cash instead)

    HATUA: prop for your answer

    Propaganda: thanks, i feel that figure should not be cast in stone though, some banks have about 3,000while Equity has almost 2 million accounts

Comments are closed.