KCB posted an after tax profit of Sh10.26 billion during the second quarter of the year, dropping marginally by 0.19 per cent from Sh10.28 billion during the same period last year.
This was however a 55.75 per cent jump compared to net profit earned during the first quarter ending March recorded at Sh4.54 billion.
Na bado walikuwa crying children wa capping interest rate. Cartels everywhere. Hizi banks… Cop bank is even opening new branches.
KCB Mpesa is doing so well that its now rivaling Mshwari.
and they want us to believe the interest rate capping law has drastically affected business :D:D:D:D
Sasa capping iteremshwe to 2% that of CBK
thugs in suits!!
Banks will be very efficient, I foresee them being more stringent when dealing with personal loans and sme applications but that will mean only the most feasible and viable businesses get them loans which is good for the economy because it will mean less business failures
Loan Duration payment is also very accommodating, you choose between there choices and interest is quite low
I always wonder why local banks dont embrace artificial intelligence and machine learning in order as a measure in giving out loans.
Lack of adequate technological skills and knowhow both within the heads of the it departments as well as locally in the country
Technology can be outsourced.Take Tala for instance,their tech team seats somewhere in the USA.These guys have given out over 2.5 billing shillings in the last two years with 6% default rate which I believe is very impressive. They together with Branch are currently working on a business lending platform,that will as well leverage on machine learning.
An insider at Tala intimated to me,that they always wanted to give out loans even to the excess of 10 million but their request was turned down by C.B.K.Obviously someone saw this as a real threat to local bank’s lending business
Let’s start here.
The technology cannot be outsourced since how can you outsource what you do not know what you want to achieve. How do you even give out the specifications and requirements to measure against the deliverables. Plus the mantra of most Kenyan corporates is, why fix when it’s not broken.