:eek::eek::eek:
@Okiya, i think those banks refusing to adjust their lending rate are factoring in the highcost of deposits that they will have to carry into next year. Some huge depositors locked in funds at exhorbitant rates for upto 12months so hizi banks hazina otherwise.
Saccos are a good idea if only they can drop their stone-age thinking of guarantors. Why should i involve 5-10 other people in my PERSONAL financial matters?
Yes I agree with you that there are some expensive deposits within these banks. But don’t forget that these banks will try and match their assets and liabilities. The moment they accept expensive deposits they already have an idea of where to invest that money to so that they can make more. And I have a feeling these expensive deposits were channeled to treasury bills @22%.
But Mwalimu Sacco is on the verge of entering the banking sector by buying off Equatorial bank
There’s a very laughable merry-go-round of beef that seems to be going on between the chief execs@the two institutions:D
saccos are members funded,they must safe guard your contributions other wise if they start writting off bad loans people will cry.