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National Bank FY 2014 results profit before tax down 28%
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kizee1
#41 Posted : Tuesday, June 23, 2015 12:00:37 AM
Rank: Member


Joined: 9/29/2010
Posts: 679
Location: nairobi
oltome wrote:
Things are thick in NBK! @siringi and mkonomtupu should do some research before payukaing


yes

its not very hard to analyze financial statements,when a bank is below TWO key statutory ratios how can one deduce that all is well?
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innairobi
#42 Posted : Tuesday, June 23, 2015 2:43:35 AM
Rank: Member


Joined: 9/2/2010
Posts: 845
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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xxxxx
#43 Posted : Tuesday, June 23, 2015 4:03:05 AM
Rank: Member


Joined: 3/20/2008
Posts: 503
kizee1 wrote:
oltome wrote:
Things are thick in NBK! @siringi and mkonomtupu should do some research before payukaing


yes

its not very hard to analyze financial statements,when a bank is below TWO key statutory ratios how can one deduce that all is well?


I believe the two key statutory ratios being adverse is a result of significant growth in loans and deposits coupled with delays in the recapitalization by govt/nssf via the rights issue. How is that a bad thing?

Did anyone catch their defence on citizen news night? How was it??
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Mainat
#44 Posted : Tuesday, June 23, 2015 6:44:09 AM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
Its very easy for a bank to forecast whether it will run short of capital or liquidity, so it might be the case that the ceo has no idea how to run a bank or he is too busy facilitating his religious community.
Interestingly the ceo sets his won bonus and of course wages have tripled since he came on board.

You employ a non-shareholding ceo at your own considerable risk.

xxxxx wrote:


I believe the two key statutory ratios being adverse is a result of significant growth in loans and deposits coupled with delays in the recapitalization by govt/nssf via the rights issue. How is that a bad thing?

Did anyone catch their defence on citizen news night? How was it??

Sehemu ndio nyumba
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mulla
#45 Posted : Tuesday, June 23, 2015 12:37:14 PM
Rank: Member


Joined: 6/15/2013
Posts: 301
mkonomtupu wrote:
Siringi wrote:
Bigchick wrote:
obiero wrote:
National Bank re-crumbling.. www.mobile.nation.co.ke/.../0/-/yf7cmd/-/index.html



Should we anticipate a run on deposits??

Was the media right in writing this article knowing very well how sensitive banking is?


Hii ni brown envelope journalism

clearly this story is one sided and was being driven by people who do not like Munir Hassan at the Helm...


That story and the one on HF judgment makes you wonder on the gutter motives


Media on the most part are only interested in selling papers (sensational headlines and misquoting people). i guess one of the reasons there is friction with jubilee. Even though there may be some element of truth to what they report they over dramatize to make it more serious than it actually is. People with heavy pockets should start suing them when they publish false no evidence stories.
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xxxxx
#46 Posted : Tuesday, June 23, 2015 3:35:13 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
mulla wrote:
mkonomtupu wrote:
Siringi wrote:
Bigchick wrote:
obiero wrote:
National Bank re-crumbling.. www.mobile.nation.co.ke/.../0/-/yf7cmd/-/index.html



Should we anticipate a run on deposits??

Was the media right in writing this article knowing very well how sensitive banking is?


Hii ni brown envelope journalism

clearly this story is one sided and was being driven by people who do not like Munir Hassan at the Helm...


That story and the one on HF judgment makes you wonder on the gutter motives


Media on the most part are only interested in selling papers (sensational headlines and misquoting people). i guess one of the reasons there is friction with jubilee. Even though there may be some element of truth to what they report they over dramatize to make it more serious than it actually is. People with heavy pockets should start suing them when they publish false no evidence stories.


http://www.businessdaily.../-/ihmqh0z/-/index.html
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murchr
#47 Posted : Tuesday, June 23, 2015 10:28:37 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
National Bank of Kenya (NBK) has confirmed that the Treasury wants it to merge with other State-owned lenders, sending a strong signal that the privatisation bid that has stalled for over seven years could delay even more....

http://www.businessdaily...10/-/xp32xk/-/index.html
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Cde Monomotapa
#48 Posted : Wednesday, June 24, 2015 12:14:52 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Been thinking about this consolidation and what opportunities can come up. Apart from NBK, most of the potentials are unlisted. Do our regulations allow for reverse listings? Let's see those H1s.
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Ericsson
#49 Posted : Wednesday, June 24, 2015 9:16:25 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
@Cde Monomotapa
Yes it does Stanbic and CFC style
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Cde Monomotapa
#50 Posted : Wednesday, June 24, 2015 10:01:53 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.
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VituVingiSana
#51 Posted : Wednesday, June 24, 2015 4:07:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
xxxxx wrote:
kizee1 wrote:
oltome wrote:
Things are thick in NBK! @siringi and mkonomtupu should do some research before payukaing


yes

its not very hard to analyze financial statements,when a bank is below TWO key statutory ratios how can one deduce that all is well?


I believe the two key statutory ratios being adverse is a result of significant growth in loans and deposits coupled with delays in the recapitalization by govt/nssf via the rights issue. How is that a bad thing?

Did anyone catch their defence on citizen news night? How was it??


Well, if it was any other 'private' bank e.g. Barclays, I&M, NIC, StanChart... CBK would have come down on them like a ton of bricks. No sympathy for them unlike NBK.

BTW, the breaching of the Capital Ratios is for the UNAUDITED results. I wonder how bad the ratios would be if the accounts were AUDITED.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#52 Posted : Wednesday, June 24, 2015 4:12:35 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Mart_Consult
#53 Posted : Wednesday, June 24, 2015 7:50:23 PM
Rank: Member


Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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Cde Monomotapa
#54 Posted : Wednesday, June 24, 2015 8:09:28 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Mart_Consult wrote:
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...


It was TN Bank & TEDCO Ltd. now Steward Bank, ZW.
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innairobi
#55 Posted : Thursday, June 25, 2015 4:25:26 AM
Rank: Member


Joined: 9/2/2010
Posts: 845
VituVingiSana wrote:
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.


Not the financials. Its specific bank accounts. Insider loans if I read well. NSSF and GoK are not seeing eye to eye on the matter so GoK's stake of I think some 20-somthing percent cant do much.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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kizee1
#56 Posted : Thursday, June 25, 2015 8:56:15 PM
Rank: Member


Joined: 9/29/2010
Posts: 679
Location: nairobi
innairobi wrote:
VituVingiSana wrote:
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.


Not the financials. Its specific bank accounts. Insider loans if I read well. NSSF and GoK are not seeing eye to eye on the matter so GoK's stake of I think some 20-somthing percent cant do much.



LOL GoK can have 0% stake but they can do a lot, lesson here is never fight the government of the day,
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Cde Monomotapa
#57 Posted : Wednesday, July 01, 2015 10:28:08 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
@Ericsson @Mart_ Should guarantee* foot traffic? The shops need a thorough makeover. Would really like to see how they manage the two brands in one.

Jamii Bora Bank To Open Branches in Uchumi Shops http://www.fountainnews....anches-in-uchumi-shops/

Cde Monomotapa wrote:
Mart_Consult wrote:
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...


It was TN Bank & TEDCO Ltd. now Steward Bank, ZW.
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