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Chase Bank loss...another case of cooking the books?
Obi 1 Kanobi
#71 Posted : Wednesday, April 06, 2016 6:25:46 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
watesh wrote:
Massive withdrawal everywhere

Will probably worsen tomorrow after people have watched the evening news today.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
TheGeek
#72 Posted : Wednesday, April 06, 2016 6:57:00 PM
Rank: Member

Joined: 7/3/2014
Posts: 245
Obi 1 Kanobi wrote:
watesh wrote:
Massive withdrawal everywhere

Will probably worsen tomorrow after people have watched the evening news today.


Biggest beneficiary will be MPESA BANK.

In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
ayushnehra
#73 Posted : Wednesday, April 06, 2016 7:16:55 PM
Rank: Member

Joined: 1/4/2015
Posts: 153
Impunity wrote:
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...


Na tier 2 ni kina banks gani?
Always here of tier 1 (KCB, Equity, Barclays, Stanchart,Coop etc) and tier 3 (Baroda, India,Chase,Dubai,Imperial etc)

WHO ARE THE TIER 2 NIGGAHS?

And what about tier 4s (Faulu,Krep,KWFT,Uwezo,Jamii etc)?


Tier 2 include I&M , DTB and either CBA or CFC (one of the 2 is tier 1)..and Family I think. ! NIC and EcoBank too.

either way of the above I think I&M DTB and CFC are Sound Banks.

DTB clearly being a bank from the Aga Khan Dynasty you cannot expect expect anything but reliability. It has good reach and being smaller than the tier 1 banks give you a more private feel. I&m is good too, family business of course but has a lot of outside involvement to even think of being dodgy. CFC well is connected to it's senior in SA should be okay (and the 7% on savings a/c is decent).. NIC and Eco are good.. haven't dealt directly so can't say much. But I guess banks that are well spread and have outside shareholding tend to be okay...CBA well..

Family might be tricky considering recent issues of mismanagement.

But then again don't take my word.. In Kenya you wake up to surprises everyday.
Dreams are not the thing you see in your sleep..it's the thing that doesn't let you sleep. - A.P.J. Abdul Kalam
newfarer
#74 Posted : Wednesday, April 06, 2016 7:29:50 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
TheGeek wrote:
Obi 1 Kanobi wrote:
watesh wrote:
Massive withdrawal everywhere

Will probably worsen tomorrow after people have watched the evening news today.


Biggest beneficiary will be MPESA BANK.


sure
punda amecheka
enyands
#75 Posted : Wednesday, April 06, 2016 7:38:09 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
ayushnehra wrote:
Impunity wrote:
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...


Na tier 2 ni kina banks gani?
Always here of tier 1 (KCB, Equity, Barclays, Stanchart,Coop etc) and tier 3 (Baroda, India,Chase,Dubai,Imperial etc)

WHO ARE THE TIER 2 NIGGAHS?

And what about tier 4s (Faulu,Krep,KWFT,Uwezo,Jamii etc)?


Tier 2 include I&M , DTB and either CBA or CFC (one of the 2 is tier 1)..and Family I think. ! NIC and EcoBank too.

either way of the above I think I&M DTB and CFC are Sound Banks.

DTB clearly being a bank from the Aga Khan Dynasty you cannot expect expect anything but reliability. It has good reach and being smaller than the tier 1 banks give you a more private feel. I&m is good too, family business of course but has a lot of outside involvement to even think of being dodgy. CFC well is connected to it's senior in SA should be okay (and the 7% on savings a/c is decent).. NIC and Eco are good.. haven't dealt directly so can't say much. But I guess banks that are well spread and have outside shareholding tend to be okay...CBA well..

Family might be tricky considering recent issues of mismanagement.

But then again don't take my word.. In Kenya you wake up to surprises everyday.


Ayushnehra you know anything about the credit bank please ?
kimugaman
#76 Posted : Wednesday, April 06, 2016 8:06:47 PM
Rank: New-farer

Joined: 5/15/2015
Posts: 26
One of the largest banks in U.S.A is called CHASE. Full name is J.P MORGAN CHASE MANHATTAN. Their website is www.chase.com.
Why did a Kenyan bank choose this name? I am sure many people in Diaspora opened an account with this bank thinking they are the same.
For me I always wondered:


1. Why chase U.S.A didn't sue chase Kenya
2. Why did a bank in Kenya give it-self a U.S.A bank name? - That was a red flag.
Spikes
#77 Posted : Wednesday, April 06, 2016 8:38:55 PM
Rank: Elder

Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
kimugaman wrote:
One of the largest banks in U.S.A is called CHASE. Full name is J.P MORGAN CHASE MANHATTAN. Their website is www.chase.com.
Why did a Kenyan bank choose this name? I am sure many people in Diaspora opened an account with this bank thinking they are the same.
For me I always wondered:


1. Why chase U.S.A didn't sue chase Kenya
2. Why did a bank in Kenya give it-self a U.S.A bank name? - That was a red flag.



Most Kenyans are naive and vulnerable to deception. The founders of Chase Bank new about the psychology of herd mentality and gullibility of Kenyans. Kenyans are weird people . I am an entrepreneur. I do make skyrocketing profits per item as high as 7000% . When I started I was rocked by the culture shock in the business world where some customers told me to hike prices as they considered my offers as below equilibrium. I used to make like 3500% profit per piece then. Now you can see how Kenyans are playing the drumbeats of the paradox of law of demand and supply. Shafting continues.....!!!!!!
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
kediveKed
#78 Posted : Wednesday, April 06, 2016 8:43:55 PM
Rank: New-farer

Joined: 3/28/2016
Posts: 37
Location: nairobi
All the jokes made about putting money under the mattress don't seem too funny now.
mlennyma
#79 Posted : Wednesday, April 06, 2016 8:46:45 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
TheGeek wrote:
Obi 1 Kanobi wrote:
watesh wrote:
Massive withdrawal everywhere

Will probably worsen tomorrow after people have watched the evening news today.


Biggest beneficiary will be MPESA BANK.


mpesa cannot hold substantial deposits,kcb will catch the biggest share followed by other big banks remember nbk has credibility issues too
"Don't let the fear of losing be greater than the excitement of winning."
whiteowl
#80 Posted : Wednesday, April 06, 2016 8:55:27 PM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
hisah wrote:
Bond holders that bought the recent bank bonds must be having the infamous butterfly stomach effect...


Bond holders are paid what's left after depositors are paid so if it goes down they'll be totally roasted.
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