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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Why Banks should lose?

Why Banks should lose?

Go down  Message [Page 1 of 1]

1Why Banks should lose? Empty Why Banks should lose? Mon Nov 16, 2020 7:13 am

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I think its important for the banking Industry to undersand that making losses is part of business just like any other business they lend. Bank shareholders, employees and management should not take things for granted especially during covid time when all other industries suffer to make ends meat.

When Banks make losses, banking system and government is there to support them, give them concessionary lending, relaxation of statutory requirements etc. But when borrower or his company start making losses and not repaying loans what would the bank do?

Bank squeeze the borrower, they force sell the property, go after the personal properties of the borrower and guarantors! Put the borrower directors in the CRIB, black list them from borrowing from any other bank.

Should this be the objective of a people centric economic policy of the government?

Can a borrower go for a right issue like Sampath Bank or NDB Bank would do? Banks are licensed to playout minority shareholders the same way they played out the innocent borrowers. Shareholders investing in these bank shares should be mindful that banks are all after their hard earned money.

Bank staff operate in Air Conditioned offices in all islandwide branches, they get concessionary loans for their cars and houses. they get commissions for recoveries, going after innocent borrowers personal properties.

Borrower has to work hard to develop business day in and day out, pay salaries, deal with suppler and customer financial issues and dirty his hands to repay his loans to the bank so that bank shareholders, directors and staff enjoy a luxury life. If he fail to do so, borrowers home will be force sold by the bank to the highest bidder and bank will be coming after your mothers jewellery because she signed for you as a guarantor.

Banks take your own deposit at 5%pa and lend you the same money at 8% per annum. This they call "CASH BACK FACILITY'. I call it a crime scheme.

Bank Managers hoodwink innocent client with crime scheme by telling the borrowers that they benefit from this facility. Giving your own money back to you at an extra cost. This is justified only if you have too much money that cannot be kept under your pillow.
Bank manager and the branch benefit from these schemes with pro benefit to the borrowers. Manager gets a commission for misleading clients for this facility and branch gets the opportunity to continue playing out innocent borrowers.

Banks are still squeezing their borrowers by not offering Concessionary schemes offered by the Government and Central Bank, They still try to carryout cashflow and profitabilities before granting these concessionary facilities. Banks are yet to pass the concessions offered by the government to Credit Cards and personal loans. Instead still their motivated recovery officers are after flesh of the borrowers with face masks.

Bank employees and management should pull their socks and cut unnecessary costs before blaming Covi or Government for low interest rates. Banks should learn the new norm and make endeavors to survive in a low interest rate regime through their own innovations instead of passing their burden to innocent borrowers.

DEVELOPEMNT BANKS SHOULD RE-FOCUS

Development banks should complete stop lending to conglomerates and large companies. They should only lend to small to medium businesses and proprietors.

Instead of giving a large loans to CARGILLS and KEELLS to run super markets islandwide, development banks should lend to small grocery shop and small wayside shop owners a small facilities to run their businesses.

Instead of giving large loans to SOFTLOGIC and ODEL bank should have given facilities to Bathik Shop owners and tailors and local fashion designers and small Cloth Shops. Development bank should be refocused to finance home grower, taxi drivers etc instead of giving money to the rich to make the more rich.

This is the only way country can create  self sufficient, low cost low profit but sustainable business units within the society which provide economic and financial independence the community and achieve the people centric economic development.

Unfortunately 60% of  Sri Lanka's business are owned and managed by conglomerate or multi national and only less than 30% are owned by Small to Medium businessmen. In singapore 60% business is carried out by small to medium companies.

lal62 likes this post

2Why Banks should lose? Empty Re: Why Banks should lose? Mon Nov 16, 2020 8:13 am

samaritan


Moderator
Moderator
Attn: Quibit

When i initiated a topic titled "Good news ahead of Budget 2021". It was consolidated under the title "Budget 2021". Fair enough!

Now don't you think the topic you have initiated under "Why Banks should lose?" is appropriate to be consolidated under the heading titled "Banking sector" which already exists.

I don't intend to be a gullible sucker here.

For all members attention and comments please.


_________________




The biggest risk in life is not taking any risk at all.

dayandacool likes this post

3Why Banks should lose? Empty Re: Why Banks should lose? Mon Nov 16, 2020 8:34 am

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@samaritan wrote:Attn: Quibit

When i initiated a topic titled "Good news ahead of Budget 2021". It was consolidated under the title "Budget 2021". Fair enough!

Now don't you think the topic you have initiated under "Why Banks should lose?" is appropriate to be consolidated under the heading titled "Banking sector" which already exists.

I don't intend to be a gullible sucker here.

For all members attention and comments please.

I humbly invite you to be a Moderator of this forum. Thank you.

4Why Banks should lose? Empty Re: Why Banks should lose? Mon Nov 16, 2020 9:27 am

samaritan


Moderator
Moderator
@Quibit wrote:
@samaritan wrote:Attn: Quibit

When i initiated a topic titled "Good news ahead of Budget 2021". It was consolidated under the title "Budget 2021". Fair enough!

Now don't you think the topic you have initiated under "Why Banks should lose?" is appropriate to be consolidated under the heading titled "Banking sector" which already exists.

I don't intend to be a gullible sucker here.

For all members attention and comments please.

I humbly invite you to be a Moderator of this forum. Thank you.
I accept your kind invitation. Thank you


_________________




The biggest risk in life is not taking any risk at all.

judecroos likes this post

5Why Banks should lose? Empty Re: Why Banks should lose? Mon Nov 16, 2020 1:11 pm

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@samaritan wrote:
@Quibit wrote:
@samaritan wrote:Attn: Quibit

When i initiated a topic titled "Good news ahead of Budget 2021". It was consolidated under the title "Budget 2021". Fair enough!

Now don't you think the topic you have initiated under "Why Banks should lose?" is appropriate to be consolidated under the heading titled "Banking sector" which already exists.

I don't intend to be a gullible sucker here.

For all members attention and comments please.

I humbly invite you to be a Moderator of this forum. Thank you.
I accept your kind invitation. Thank you

Welcome

6Why Banks should lose? Empty Re: Why Banks should lose? Mon Nov 16, 2020 9:01 pm

ThivankS


Stock Analytic
Stock Analytic
Throughout history each and every government tried to uplift the economy and fueled the growth with the support of banks. Actually banks play a huge role in creating wealth. Key component of this economy, Credit mainly managed through banks. So needless to say banks are much closely tied with the country’s economy and chances are very less to outperform.  
Banks capitalized the advantage of economic expansion tremendously in the last few years especially after the war. This time banks should support the government to absorb the economic hit. If the situation is managed wisely and collaboratively industry will definitely favor again. 

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