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Co-operative Bank fate.. discuss
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... We missed that... possunt quia posse videntur
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... If you were earning 300K 15years ago i.e Yr.1999 you will end up with 1.5*15*300K-500K=6.7M-11.2M I can assure you these guys have loans that are more than that sendoff amount (think mortgages,car & Sacco loans).Some invested while others bought BMWs & moved to rent in more upmarket areas. It cannot be easy. I know one from KCB who got 10M, paid 3M Sacco loan & 5M mortgage.He was left with 2M. He is an old ex-banker,with 2 kids still in school.It would take quite sometime to get another job at that age. Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 9/12/2014 Posts: 120 Location: Nyali
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Glad I quit this institution early.I have become wiser and done more in one year than the time I spent working for them.However,generally this is one bank that is very stable due to the huge capital base available to it from Saccos.If they adopted an aggressive approach like that of Equity,they will be very far.That needs a visionary and I am afraid the current captain;with all due respect ought to relinquish his seat to some new blood.
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Rank: Member Joined: 7/20/2011 Posts: 161 Location: nairobi
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bird_man wrote:meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... If you were earning 300K 15years ago i.e Yr.1999 you will end up with 1.5*15*300K-500K=6.7M-11.2M I can assure you these guys have loans that are more than that sendoff amount (think mortgages,car & Sacco loans).Some invested while others bought BMWs & moved to rent in more upmarket areas. It cannot be easy. I know one from KCB who got 10M, paid 3M Sacco loan & 5M mortgage.He was left with 2M. He is an old ex-banker,with 2 kids still in school.It would take quite sometime to get another job at that age. Patience. You cannot have a baby in one month by impregnating nine women....
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Rank: Member Joined: 7/20/2011 Posts: 161 Location: nairobi
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bird_man wrote:meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... If you were earning 300K 15years ago i.e Yr.1999 you will end up with 1.5*15*300K-500K=6.7M-11.2M I can assure you these guys have loans that are more than that sendoff amount (think mortgages,car & Sacco loans).Some invested while others bought BMWs & moved to rent in more upmarket areas. It cannot be easy. I know one from KCB who got 10M, paid 3M Sacco loan & 5M mortgage.He was left with 2M. He is an old ex-banker,with 2 kids still in school.It would take quite sometime to get another job at that age. @maka. birdman read my mind. exactly what I was thinking. Remember this is a guy in his 40's. Its very sad. Patience. You cannot have a baby in one month by impregnating nine women....
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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meme wrote:bird_man wrote:meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... If you were earning 300K 15years ago i.e Yr.1999 you will end up with 1.5*15*300K-500K=6.7M-11.2M I can assure you these guys have loans that are more than that sendoff amount (think mortgages,car & Sacco loans).Some invested while others bought BMWs & moved to rent in more upmarket areas. It cannot be easy. I know one from KCB who got 10M, paid 3M Sacco loan & 5M mortgage.He was left with 2M. He is an old ex-banker,with 2 kids still in school.It would take quite sometime to get another job at that age. @maka. birdman read my mind. exactly what I was thinking. Remember this is a guy in his 40's. Its very sad. Rem a 40% loan offset. I there are those who have invested wisely and put their families in position. Your failure to utilize your salry well while on employment should not be an excuse and a burden to the employer. Live your level...if you didn't inherit anything then begin with basics.ukijifanya kutuonyesha usonko shauri yako. Ref retrenchment,those who re-org well an settled on whatever little are alive and doing well,those who complained & blamed gvt walikufa or live miserably. On your first salary just begin planning for retire/retrench/sacking/resign....compare such a send off package how many kenyans get such????very few. Usipojipanga mwenyewe utapangwa na dunia. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 7/22/2009 Posts: 7,455
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Boris Boyka wrote:meme wrote:bird_man wrote:meme wrote:maka wrote:Boris Boyka wrote:The 160 managers have agross salary of 300-500k. most have worked for btwn 15-35yrs. computation is using the gross salary. A good number of employees were praying to be among the 160. it seems to be a blessing in disguise. surely si mbaya. RINK rafiki mfanyikazi wa ndani They can't get a better deal anywhere on this planet... If you were earning 300K 15years ago i.e Yr.1999 you will end up with 1.5*15*300K-500K=6.7M-11.2M I can assure you these guys have loans that are more than that sendoff amount (think mortgages,car & Sacco loans).Some invested while others bought BMWs & moved to rent in more upmarket areas. It cannot be easy. I know one from KCB who got 10M, paid 3M Sacco loan & 5M mortgage.He was left with 2M. He is an old ex-banker,with 2 kids still in school.It would take quite sometime to get another job at that age. @maka. birdman read my mind. exactly what I was thinking. Remember this is a guy in his 40's. Its very sad. Rem a 40% loan offset. I there are those who have invested wisely and put their families in position. Your failure to utilize your salry well while on employment should not be an excuse and a burden to the employer. Live your level...if you didn't inherit anything then begin with basics.ukijifanya kutuonyesha usonko shauri yako. Ref retrenchment,those who re-org well an settled on whatever little are alive and doing well,those who complained & blamed gvt walikufa or live miserably. On your first salary just begin planning for retire/retrench/sacking/resign....compare such a send off package how many kenyans get such????very few. Usipojipanga mwenyewe utapangwa na dunia.  Tell them @Boris. I even started a thread on the same some time back. Here is the Link: Take your income as A SEED not AS FRUITSLuckily enough most wazuans know this but we need to preach this gospel to our workmates, relatives, neighbours, friends etc. Anyone who means anything to you and is not following this simple logic. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 11/5/2010 Posts: 2,459
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mkonomtupu wrote:mlennyma wrote:Losing a job of this status in a country crowded with unemployment is sooooo painful What were they doing in those 15 years that they can't stand on their own. If they can't then they were just dead weight employees. Employment is modern day slavery @mkonomtupu, you are spot on here. A friend working at coop with some serious side hustles had applied to be included in the list. He tells me there were about 40 such applicants. They were all declined. Reason, the fact that a young guy in his late 30s or early 40s wants to quit employment tells your boss something. You are confident about yourself, you are self-driven and you definitely know you have valuable skills that you can monetize elsewhere. Its no coincidence that this group also happens to be the most productive. They work for the bank. The rest are the dead weight who are 'employed' at the bank waiting for salo at the end of the month.
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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@Boris Boyka.. U are on point
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: New-farer Joined: 9/20/2010 Posts: 79
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@boris nd @frm very true.bankers nd loans is the norm.
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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Co-operative Bank has started searching for a new head of its stockbrokerage subsidiary, Kingdom Securities, following the exit of Geoffrey Odundo for the Nairobi Securities Exchange as its new chief executive.
Mr Odundo an accomplished investment banker with 22 years of experience in the financial industry was instrumental in setting up of Kingdom Securities, Co-op trust Investment Services and Co-op Consultancy Services.
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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Co-op Bank to do great in CSR and has pick 635 students to educate from Form 1 to Form 4 and may be higher depending on performance. That great and touches many hearts. As investors we are greatful.
Now we also wait for good tiding Feb-March,15 FY2014 Results.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Realtreaty wrote:Co-op Bank to do great in CSR and has pick 635 students to educate from Form 1 to Form 4 and may be higher depending on performance. That great and touches many hearts. As investors we are greatful.
Now we also wait for good tiding Feb-March,15 FY2014 Results. Fire employees but increase CSR? Same Co-op is hiring Mackinsey to reduce costs. If fees per year per student is 100k in a national school and 50k in an extra county school then the cost will be at least 50m per year. Life is short. Live passionately.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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sparkly wrote:Realtreaty wrote:Co-op Bank to do great in CSR and has pick 635 students to educate from Form 1 to Form 4 and may be higher depending on performance. That great and touches many hearts. As investors we are greatful.
Now we also wait for good tiding Feb-March,15 FY2014 Results. Fire employees but increase CSR? Same Co-op is hiring Mackinsey to reduce costs. If fees per year per student is 100k in a national school and 50k in an extra county school then the cost will be at least 50m per year. @Sparkly!!!! id expect better reasoning from you!! someone working for 25-35 yrs you call sacking?? which is wiser,uendelee kulipa a wealthy person or usaidie a needy student who is tommorrows work force??? Heartless!! . Note: am not concerned with the costs part. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Boris Boyka wrote:sparkly wrote:Realtreaty wrote:Co-op Bank to do great in CSR and has pick 635 students to educate from Form 1 to Form 4 and may be higher depending on performance. That great and touches many hearts. As investors we are greatful.
Now we also wait for good tiding Feb-March,15 FY2014 Results. Fire employees but increase CSR? Same Co-op is hiring Mackinsey to reduce costs. If fees per year per student is 100k in a national school and 50k in an extra county school then the cost will be at least 50m per year. @Sparkly!!!! id expect better reasoning from you!! someone working for 25-35 yrs you call sacking?? which is wiser,uendelee kulipa a wealthy person or usaidie a needy student who is tommorrows work force??? Heartless!! . Note: am not concerned with the costs part. @Boris no need to tie your boxers in a knot. Your bank can apply all its revenues to CSR for all we care but a serious investor must ask how an increase in CSR is mentioned in the same breath with restructuring. Life is short. Live passionately.
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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The word here is "SOCIAL" and does not need to be associated with Profits. It means giving back to the community as in alms.
All-in-all in cooperative I m entitled to a dividend of 50cts come rain or sun at 19 or at ahigh of 25Kes.
Ofcourse it will rise back to that price this February.
Coop like Equity has opened several branches to serve the growing customer base especially in Agric and Industrial Kenya.
Have they entered Ethiopia market Yet?
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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Co-operative bank of Kenya has entered the cashless fare platform, becoming the latest lender to provide the platform as it targets to grow its non-funded income. Dubbed M-Nauli, co-operative bank said it will ride on its close association with the country’s Sacco movement to win over Matatu saccos. “We tapped into our experience with SACCOs when developing our M-Nauli system to ensure that the product effectively works for the Matatu Owners and as well as for customers." Managing Director Gideon Muriuki said during the launch.  Can I recharge my card at any Co-op ATM? Should there be an option of recharge either through an account or direct money where ATM accepts money and loads it into the M-Nauli? Still the people are carrying cash nd conductors never say they have the machine to "TAP"!
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Realtreaty wrote:The word here is "SOCIAL" and does not need to be associated with Profits. It means giving back to the community as in alms.
All-in-all in cooperative I m entitled to a dividend of 50cts come rain or sun at 19 or at ahigh of 25Kes.
Ofcourse it will rise back to that price this February.
Coop like Equity has opened several branches to serve the growing customer base especially in Agric and Industrial Kenya.
Have they entered Ethiopia market Yet? The BEST form of CSR for a firm is to produce/offer a good product at a good price. The rest is irrelevant. CSR should be left to the INDIVIDUAL shareholders. I think it was Warren Buffett who said that. BTW, foreigners are not allowed to get into banking/finance in Ethiopia. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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VituVingiSana wrote:Realtreaty wrote:The word here is "SOCIAL" and does not need to be associated with Profits. It means giving back to the community as in alms.
All-in-all in cooperative I m entitled to a dividend of 50cts come rain or sun at 19 or at ahigh of 25Kes.
Ofcourse it will rise back to that price this February.
Coop like Equity has opened several branches to serve the growing customer base especially in Agric and Industrial Kenya.
Have they entered Ethiopia market Yet? The BEST form of CSR for a firm is to produce/offer a good product at a good price. The rest is irrelevant. CSR should be left to the INDIVIDUAL shareholders. I think it was Warren Buffett who said that. BTW, foreigners are not allowed to get into banking/finance in Ethiopia. @vvs yours is better,apple to apple. On other side "product" is relative. Assuming the Memba way it could yeild for them in few yrs time. the beneficiaries could work at lower pay in future,their siblings/dependants accts to.be in coop in order to continue enjoying benefits,the monies are channelled to instituitions through coop. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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When I bought Coop at IPO, i had eyes that could see it being one of the strongest banks in Kenya. It is still and its doing fine.It has diversified quite well and Muriuki is becoming a global identity.With the broom (Mackinsey) having done its work and various outlets and agents onsite Coop is the best.Co-op is in real estate as a lender and a nominee. Its true Co-op owns many assets and may in future control a larhe chunk of Kenyan towers and peri-urban estates.
This FY14 has a message for Co-op investors. I can foretell that!
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