wazua Wed, Apr 8, 2026
Welcome Guest Search | Active Topics | Log In

77 Pages«<1415161718>»
Chase Bank loss...another case of cooking the books?
Options
Previous Topic · Next Topic
Boris Boyka
#151 Posted : Thursday, April 07, 2016 11:02:09 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
How will Rafiki DTM be affected in this saga? I fear for our cash.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
Back to top
  |
jano
#152 Posted : Thursday, April 07, 2016 11:04:08 AM
Rank: New-farer

Joined: 7/12/2011
Posts: 57
Location: nairobi
wal6807 wrote:
Someone advise if thought clients with money market accounts are protected Through CMA.?



CMA is just a regulator to oversee that fund managers follow the set regulations and not necessarily guarantee security. In money market the underlying instruments are diversified and most of the time not invested in the custody bank.

Not unless Genghis had placed most of their investment with chase bank they should be able to uplift their investments and pay clients.
Back to top
  |
Liv
#153 Posted : Thursday, April 07, 2016 11:04:50 AM
Rank: Veteran

Joined: 11/14/2006
Posts: 1,311
alma1 wrote:


In fact, this rumors started with innuendos from some guys in the green section trying to second guess what the CBK governor was going to talk about yesterday.

On being asked a direct question, he said, "those are social media rumors"

Forgive me for trusting my beloved Central Bank Governor more than I trust the hate monger Impunity and the Waiguru cry baby Much Know.

So up until yesterday afternoon, with all the information on wazua plus more information that is not privy to us, the CBK Governor said there was no cause for concern.

But you were all on twitter, you saw what was going on. All of a sudden the story was Chase Bank was going to be closed.

Students of economics shall tell you, if you have a run on a bank, it may not survive unless something drastic is done. Some branches were closing early because people came from everywhere to withdraw their cash.

According the the CBK which I take as a better source of information than Impunity and Much Know, they had to appoint a receiver simply because of the rumors on chocho media.

So get a grip.

Yes, the fake accounting was in the public domain for more than a week. But what brought the bank to its knees was the Chasebank hashtag that even my mother told me about.And yes, they should have handled it better and probably be working today.

Unless of course you are saying that the Governor of the Central Bank of Kenya is a liar. Which may be possible but honestly I believe Much Know to be the biggest liar ever on Wazua. Tafakari hayo.

Now for more matusi's lets meet kule green section.



Though the social media may have hastened the process of getting into receivership, I think it was inevitable.

1. Chase bank shareholders equity is circa Kes 11B while loans to directors and staff are Kes 13.5B.... Real shareholder equity is negative.

2. 8 directors have a loan from the bank of kes 10.5B....which is NPL.

3. CBK requires a maximum of 25% of capital as loans to directors and staff. chase bank has over 100%... Circa 115%.

4. Chase bank was allowed to issue a Kes 10B bond last year while they could have recovered this from their directors...NPLs

Professor Ndungu should be prosecuted.


Back to top
  |
Impunity
#154 Posted : Thursday, April 07, 2016 11:07:34 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
K22 wrote:
wa P wrote:
Please someone assure my friend that MPESA will not be put under receivership. Huko dio pesa itakaa sasa.


Mpesa funds are held in trust account(s) in several banks. d'oh!


Nope, all held in @Uhuru's bank..CBA.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
Back to top
  |
kollabo
#155 Posted : Thursday, April 07, 2016 11:08:41 AM
Rank: Veteran

Joined: 2/3/2012
Posts: 1,317
mlennyma wrote:
This shows the rot in the previous cbk' governors tenure when a competent dude takes charge


Bitter pill of tribalism and political patronage.
Back to top
  |
Spikes
#156 Posted : Thursday, April 07, 2016 11:10:36 AM
Rank: Elder

Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
kollabo wrote:
mlennyma wrote:
This shows the rot in the previous cbk' governors tenure when a competent dude takes charge


Bitter pill of tribalism and political patronage.


Even the citizens who drum up support for tribalism are not spared. They are the most victims.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
Back to top
  |
mlennyma
#157 Posted : Thursday, April 07, 2016 11:12:12 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
IMG-20160407-WA0001.jpg
"Don't let the fear of losing be greater than the excitement of winning."
Back to top
WWW
  |
alma1
#158 Posted : Thursday, April 07, 2016 11:13:48 AM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Liv wrote:



Though the social media may have hastened the process of getting into receivership, I think it was inevitable.

1. Chase bank shareholders equity is circa Kes 11B while loans to directors and staff are Kes 13.5B.... Real shareholder equity is negative.

2. 8 directors have a loan from the bank of kes 10.5B....which is NPL.

3. CBK requires a maximum of 25% of capital as loans to directors and staff. chase bank has over 100%... Circa 115%.

4. Chase bank was allowed to issue a Kes 10B bond last year while they could have recovered this from their directors...NPLs

Professor Ndungu should be prosecuted.




I totally agree with you. But I'm not taking all this at face value. The Governor is supposed to be holding a press conference soon on Chase Bank. I'd like to hear what he has to say.

Their statement was very clear on "inaccurate social media reports"

This case is exactly like the Continental Illinois Bank. Where it was not the mismanagement that caused the failure of the bank but rather an "inaccurate" report by reuters.

Mismanagement is part and parcel of any business.Even NBK for crying out loud is still on its feet.

Please read this book http://www.amazon.com/Th...-Illinois/dp/0396088090

It's funny how what happened at Chase is exactly what happened with Continental. The only difference is the names of the parties involved.

As for the previous governor, I'm sorry to say that we shall be paying for his "leadership" for years to come. God knows what's going to happen to the property market when all these banks start restating their earnings.

Now let's wait for the Governor's talk. I'll rely on him for concrete information on exactly what happened.
Thieves are not good people. Tumeelewana?
Back to top
  |
Obi 1 Kanobi
#159 Posted : Thursday, April 07, 2016 11:14:40 AM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
Liv wrote:
alma1 wrote:


In fact, this rumors started with innuendos from some guys in the green section trying to second guess what the CBK governor was going to talk about yesterday.

On being asked a direct question, he said, "those are social media rumors"

Forgive me for trusting my beloved Central Bank Governor more than I trust the hate monger Impunity and the Waiguru cry baby Much Know.

So up until yesterday afternoon, with all the information on wazua plus more information that is not privy to us, the CBK Governor said there was no cause for concern.

But you were all on twitter, you saw what was going on. All of a sudden the story was Chase Bank was going to be closed.

Students of economics shall tell you, if you have a run on a bank, it may not survive unless something drastic is done. Some branches were closing early because people came from everywhere to withdraw their cash.

According the the CBK which I take as a better source of information than Impunity and Much Know, they had to appoint a receiver simply because of the rumors on chocho media.

So get a grip.

Yes, the fake accounting was in the public domain for more than a week. But what brought the bank to its knees was the Chasebank hashtag that even my mother told me about.And yes, they should have handled it better and probably be working today.

Unless of course you are saying that the Governor of the Central Bank of Kenya is a liar. Which may be possible but honestly I believe Much Know to be the biggest liar ever on Wazua. Tafakari hayo.

Now for more matusi's lets meet kule green section.



Though the social media may have hastened the process of getting into receivership, I think it was inevitable.

1. Chase bank shareholders equity is circa Kes 11B while loans to directors and staff are Kes 13.5B.... Real shareholder equity is negative.

2. 8 directors have a loan from the bank of kes 10.5B....which is NPL.

3. CBK requires a maximum of 25% of capital as loans to directors and staff. chase bank has over 100%... Circa 115%.

4. Chase bank was allowed to issue a Kes 10B bond last year while they could have recovered this from their directors...NPLs

Professor Ndungu should be prosecuted.




Very true @Liv.

Blaming access to information for the fall of Chase Bank is akin to shooting the messenger coz you don't like the message.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
Back to top
  |
littledove
#160 Posted : Thursday, April 07, 2016 11:14:51 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
Liv wrote:
alma1 wrote:


In fact, this rumors started with innuendos from some guys in the green section trying to second guess what the CBK governor was going to talk about yesterday.

On being asked a direct question, he said, "those are social media rumors"

Forgive me for trusting my beloved Central Bank Governor more than I trust the hate monger Impunity and the Waiguru cry baby Much Know.

So up until yesterday afternoon, with all the information on wazua plus more information that is not privy to us, the CBK Governor said there was no cause for concern.

But you were all on twitter, you saw what was going on. All of a sudden the story was Chase Bank was going to be closed.

Students of economics shall tell you, if you have a run on a bank, it may not survive unless something drastic is done. Some branches were closing early because people came from everywhere to withdraw their cash.

According the the CBK which I take as a better source of information than Impunity and Much Know, they had to appoint a receiver simply because of the rumors on chocho media.

So get a grip.

Yes, the fake accounting was in the public domain for more than a week. But what brought the bank to its knees was the Chasebank hashtag that even my mother told me about.And yes, they should have handled it better and probably be working today.

Unless of course you are saying that the Governor of the Central Bank of Kenya is a liar. Which may be possible but honestly I believe Much Know to be the biggest liar ever on Wazua. Tafakari hayo.

Now for more matusi's lets meet kule green section.



Though the social media may have hastened the process of getting into receivership, I think it was inevitable.

1. Chase bank shareholders equity is circa Kes 11B while loans to directors and staff are Kes 13.5B.... Real shareholder equity is negative.

2. 8 directors have a loan from the bank of kes 10.5B....which is NPL.

3. CBK requires a maximum of 25% of capital as loans to directors and staff. chase bank has over 100%... Circa 115%.

4. Chase bank was allowed to issue a Kes 10B bond last year while they could have recovered this from their directors...NPLs

Professor Ndungu should be prosecuted.




a loan of more than a billion per director!!!! just shocking
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
Back to top
WWW
  |
77 Pages«<1415161718>»
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.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.