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KCB 2018 and Beyond
Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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mlennyma wrote:aemathenge wrote:mlennyma wrote:What does kcb see in imperial bank which it has failed to do with it's own structures in the same business environment?I don't support the approval,they wanted chasebank,they wanted nbk is everything good for them? You look at this issue from the wrong perspective. The question should be: Why would a banking client patronize Imperial Bank, Chasebank, National Bank of Kenya et al and not KCB? There is a relationship, a system, a feature, a need that such patrons are looking for and finding in these institutions. That is what KCB is venturing out to capture. Just a thought. Just a thought. The management will be kcb,do you think a new management will run it,the loopholes in management is what killed them There you go again. You fail to take cognizance of the fact that there is a client out there prepared to put, nay, trust his/her/its money there rather than any other bank.
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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aemathenge wrote:mlennyma wrote:aemathenge wrote:mlennyma wrote:What does kcb see in imperial bank which it has failed to do with it's own structures in the same business environment?I don't support the approval,they wanted chasebank,they wanted nbk is everything good for them? You look at this issue from the wrong perspective. The question should be: Why would a banking client patronize Imperial Bank, Chasebank, National Bank of Kenya et al and not KCB? There is a relationship, a system, a feature, a need that such patrons are looking for and finding in these institutions. That is what KCB is venturing out to capture. Just a thought. Just a thought. The management will be kcb,do you think a new management will run it,the loopholes in management is what killed them There you go again. You fail to take cognizance of the fact that there is a client out there prepared to put, nay, trust his/her/its money there rather than any other bank. The bottom line is that these former 53k odd Imperial Bank clients bring in KES 58B of good deposits to KCB and they have been scared shitless from past happenings with the small bank so it's likely to be a sticky deposit base for KCB. Let's not split hairs to understand this
KQ ABP 4.26
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Rank: Veteran Joined: 7/3/2007 Posts: 1,635
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obiero wrote:aemathenge wrote:mlennyma wrote:aemathenge wrote:mlennyma wrote:What does kcb see in imperial bank which it has failed to do with it's own structures in the same business environment?I don't support the approval,they wanted chasebank,they wanted nbk is everything good for them? You look at this issue from the wrong perspective. The question should be: Why would a banking client patronize Imperial Bank, Chasebank, National Bank of Kenya et al and not KCB? There is a relationship, a system, a feature, a need that such patrons are looking for and finding in these institutions. That is what KCB is venturing out to capture. Just a thought. Just a thought. The management will be kcb,do you think a new management will run it,the loopholes in management is what killed them There you go again. You fail to take cognizance of the fact that there is a client out there prepared to put, nay, trust his/her/its money there rather than any other bank. The bottom line is that these former 53k odd Imperial Bank clients bring in KES 58B of good deposits to KCB and they have been scared shitless from past happenings with the small bank so it's likely to be a sticky deposit base for KCB. Let's not split hairs to understand this Oigara is not dumb. Imperial and Chase offer KCB an opportunity to expand its upmarket and Corporate banking footprint. In an era of depressed interest rates, inter-mediation banking is where the real money will likely be. Rescuing NBK earns KCB some serious Government Bonga points, that can never hurt. Plus they are rescuing a bank that, in addition to having a call on inexhaustible Government money, can not possibly be allowed to fail. In fact I am surprised that JM, with his deep pockets, is not playing in this game. "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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aemathenge wrote:mlennyma wrote:What does kcb see in imperial bank which it has failed to do with it's own structures in the same business environment?I don't support the approval,they wanted chasebank,they wanted nbk is everything good for them? You look at this issue from the wrong perspective. The question should be: Why would a banking client patronize Imperial Bank, Chasebank, National Bank of Kenya et al and not KCB? There is a relationship, a system, a feature, a need that such patrons are looking for and finding in these institutions. That is what KCB is venturing out to capture. Just a thought. Just a thought. Haven't the relationships, systems, features and goodwill all but disappeared? Even the (innocent) staff have probably moved on given it has been 2+ years. A quick sale may have salvaged some of the relationships the staff had with customers. Good luck to all the parties. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-landThe hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M). Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Ericsson wrote:https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-land
The hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M).
Huge exposure! If this is not a one-off scenario then kcb is playing a dangerous game. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 12/7/2012 Posts: 11,935
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lochaz-index wrote:Ericsson wrote:https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-land
The hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M).
Huge exposure! If this is not a one-off scenario then kcb is playing a dangerous game. The figures i didnt get is that the hotel is valued at 300m yet the loan is 1.2b ..... does it mean the loan is more than the charge or it is supported by other properties. Kenya financials seem to be handing alot, if you look at this and connect with the Amanya gambling story. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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Ericsson wrote:https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-land
The hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M).
During moi era kcb almost died,i see a repeat if the second occupies the top slot "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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mlennyma wrote:Ericsson wrote:https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-land
The hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M).
During moi era kcb almost died,i see a repeat if the second occupies the top slot Well, I wonder if the CEO who made 350mn+ OK'd this transaction. Or that write-off is for the next CEO to worry about? https://kenyainsights.co...involvement-in-the-saga/Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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mlennyma wrote:Ericsson wrote:https://www.standardmedia.co.ke/article/2001299329/dp-ruto-fights-agency-on-weston-hotel-land
The hotel, according to a valuation report by Zenith (Management) Valuers Ltd, was valued at Sh300 million in May this year and had been charged to a bank for Sh1.2 billion. On December 7, 2011, Ruto charged the property for Sh100 million, which was discharged on October 8, 2014. Ruto and Rachel signed the charge documents on December 8, 2011 as directors of Weston. Ruto then charged the property to Kenya Commercial Bank for a Sh350 million and $1.5 million (about Sh150 million) facility on June 30, 2014. This charge was signed by Rachael and Charlene. On July 8, 2015, Weston took a further charge of Sh700 million which was signed by Rachael and Charlene before lawyer Nancy W. Gitau. This took the total charge at KCB to Sh1.2 billion. All the charges were prepared by the law firm of Hamilton, Harris and Mathews (HH&M).
During moi era kcb almost died,i see a repeat if the second occupies the top slot I think market dynamics then were different.
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