Wazua
»
Investor
»
Stocks
»
NBK announces 1.2 billion shilling loss
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
Your friend @MaichBlack is here in utter shock!!! I am not a shareholder luckily but I have an account there and I am wondering if I should transfer all my cash to another bank tomorrow ama nitulize. NSSF na Government of course wamepeleka pesa yangu huko na ikatafunwa kama njugu karanga!! As someone said, if this was in the West - especially the US - the luckiest of the bunch would have got 60 years and all his assets traced and auctioned to cover some of the losses!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
By the way I hope they are giving the CBK Governor top notch security!!! I understand a good number of fellows in the banking industry are not very happy with him because he has negatively affected their thieving ways!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 6/23/2009 Posts: 13,549 Location: nairobi
|
MaichBlack wrote:By the way I hope they are giving the CBK Governor top notch security!!!
I understand a good number of fellows in the banking industry are not very happy with him because he has negatively affected their thieving ways!!! That is true
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
|
|
|
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
|
Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’ http://www.businessdaily...1/-/bvfnu1z/-/index.htmlpossunt quia posse videntur
|
|
|
Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
|
obiero wrote:MaichBlack wrote:By the way I hope they are giving the CBK Governor top notch security!!!
I understand a good number of fellows in the banking industry are not very happy with him because he has negatively affected their thieving ways!!! That is true I'm always afraid of that and iv mentioned before though 8c criticized me for that  The other day I saw him running in the bushes in the name of cbk team building . This is kenya man where cartels and mafias rule.please give him extra security .please
|
|
|
Rank: Member Joined: 1/22/2015 Posts: 682
|
My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera?
|
|
|
Rank: Chief Joined: 1/13/2011 Posts: 5,964
|
Another Wazua 1st. Impairments are better accounted at FY. Bold provisions however. Wonder if we'd say the same for I&M (all in the family perphaps?) NBK. Life can be unfair, let the bad news sell  The consolidation plays. Nice. I&M Bank to take over Giro Bank for $54mhttp://www.theeastafrica...6/-/100k5du/-/index.html
|
|
|
Rank: Elder Joined: 9/29/2006 Posts: 2,570
|
[quote=maka]Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’ http://www.businessdaily.../-/bvfnu1z/-/index.html[/quote] I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured??? The opposite of courage is not cowardice, it's conformity.
|
|
|
Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
|
Mike Ock wrote:My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera? You can clamp them down unless you have a special interest in them . Why lie some of these guys wa NYS would be in jail if it was Tanzania leave alone west .but kenya is a circus
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
|
Mike Ock wrote:My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera? Votes. The chairman, ex-MD, the lawyer... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
Problems in NBK started when the following was the lineup Munir Ahmed--MD of NBK Mohammed Hassan--Chairman NBK Aden Mohamed--Chairman NSSF Principal Secretary Ministry of Labour--Ali Noor Ismail who previously was an employee at NBK. The chairman should at NBK should also be shown the door if a thorough cleanup is to be done.He is part of the clique Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
|
Mike Ock wrote:My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera? That has always been my question. Why not even if for PR get a few people in jail? Its just talk and more tough talk every day
|
|
|
Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
|
heri wrote:Mike Ock wrote:My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera? That has always been my question. Why not even if for PR get a few people in jail? Its just talk and more tough talk every day and blame the judiciary yet he has power to fire http://www.businessdaily.../-/15f1b3tz/-/index.htmlpunda amecheka
|
|
|
Rank: Veteran Joined: 8/16/2009 Posts: 994
|
jerry wrote:maka wrote:Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’ http://www.businessdaily.../-/bvfnu1z/-/index.html I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured??? I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
Creative accounting reloaded - Even a CPA 1 will tell you this is upus!!!Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: Elder Joined: 9/29/2006 Posts: 2,570
|
Gatheuzi wrote:jerry wrote:maka wrote:Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’ http://www.businessdaily.../-/bvfnu1z/-/index.html I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured??? I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating. Thanks @Gatheuzi, The answer couldn't be simpler! The opposite of courage is not cowardice, it's conformity.
|
|
|
Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
|
The demand side is blaaaank!!!!nobody wants to handle crap "Don't let the fear of losing be greater than the excitement of winning."
|
|
|
Rank: Elder Joined: 7/22/2009 Posts: 7,460
|
There is a new Sheriff in Town!!!And some clowns were more interested in his marital status!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
|
|
|
Rank: New-farer Joined: 12/1/2014 Posts: 45 Location: Nairobi
|
Gatheuzi wrote:jerry wrote:maka wrote:Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’ http://www.businessdaily.../-/bvfnu1z/-/index.html I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured??? I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating. Well said @Gatheuzi. Just to add is the fact the shrewd management will always give exceptional approvals to policies as they tend to also benefit.
|
|
|
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
|
|
|
|
Wazua
»
Investor
»
Stocks
»
NBK announces 1.2 billion shilling loss
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|