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Chase Bank loss...another case of cooking the books?
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whiteowl
#31 Posted : Wednesday, April 06, 2016 10:58:37 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
KulaRaha wrote:
The cooking continues. New numbers today, qualified by auditor. Inside loans from 2b to 10b.

Oh boy!


This confirms my suspicion that most if not all banks were cooking results before Dr.Njoroge took office. The only difference is the amount of cooking involved.But 2b to 10b? They might just have outdone NBK!
Also keep in mind Centum are majority shareholders.
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  | | Edit by user: Wednesday, April 06, 2016 11:01 AM | Reason: Not specified
maka
#32 Posted : Wednesday, April 06, 2016 11:00:33 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
watesh wrote:
Rumors flying all over social media that the bank is going under receivership.....
The amount of cooked figures in this bank and money laundering...


Now with those rumours comes mass withdrawals no one would want to be caught in an imperial bank situation....CBK was supposed to have a press conference at 1030 guess it's been delayed....
possunt quia posse videntur
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Othelo
#33 Posted : Wednesday, April 06, 2016 11:26:34 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
maka wrote:
watesh wrote:
Rumors flying all over social media that the bank is going under receivership.....
The amount of cooked figures in this bank and money laundering...


Now with those rumours comes mass withdrawals no one would want to be caught in an imperial bank situation....CBK was supposed to have a press conference at 1030 guess it's been delayed....

Almost gone Sad
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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alma1
#34 Posted : Wednesday, April 06, 2016 11:52:44 AM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
If Chase Bank goes, I will not trust any bank in Kenya. I'll actually put them in the same league as politicians.

That bank was one of the most efficient banks I've ever come accross. The employees fantastic.Customer service the best you can ever find anywhere.

It would really be a shame if we have another of these greedy people ruining such a good thing.

Kweli wakenya, how greedy are you people? Hii Tamaa boss. You shall not take your mercedes benz to hell.

regards

Confused Customer
Thieves are not good people. Tumeelewana?
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KulaRaha
#35 Posted : Wednesday, April 06, 2016 12:01:19 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
This is technically fraud is it not?
Business opportunities are like buses,there's always another one coming
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joga bonito
#36 Posted : Wednesday, April 06, 2016 12:04:12 PM
Rank: New-farer

Joined: 1/12/2016
Posts: 19
Total loans by Directors and Shareholders is 10B while total shareholders funds at 11B....interesting
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Sufficiently Philanga....thropic
#37 Posted : Wednesday, April 06, 2016 12:13:41 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
If this one goes the way of Imperial Bank, expect a proper shaving on Bank stocks at the NSE.
@SufficientlyP
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alma1
#38 Posted : Wednesday, April 06, 2016 12:24:34 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Thieves are not good people. Tumeelewana?
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Sufficiently Philanga....thropic
#39 Posted : Wednesday, April 06, 2016 12:25:10 PM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
By the way, the strong USD has caused a lot of pain and grief to net importer nations as well as commodity rich ones.
Before the USD took off, cbr and inflation rate would be at the same levels or thereabout. For the longest, we had our cbr at 6.25% which is where i believe we should have been now that inflation rate is at 6.45%. but not possible since we have the Eurobond to pay and Gov.Njoroge has to continue punishing us by leaving the cbr at 11.50 so as to tame this USD monster and keep it below 107.
At times i wonder if small banks like chase had branches in South sudan where Equity and KCb each took a 6b shaving from the SSP devaluation. Would they have lived to tell the story?
@SufficientlyP
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KulaRaha
#40 Posted : Wednesday, April 06, 2016 12:27:32 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
joga bonito wrote:
Total loans by Directors and Shareholders is 10B while total shareholders funds at 11B....interesting


Word on the street is insider lending sits at20b.
Business opportunities are like buses,there's always another one coming
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