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Potential merger NIC + CBA
Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Share excited,by cap repeal? "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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mlennyma wrote:Share excited,by cap repeal? cap repeal by the owner Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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The bank group named Former NIC Chairman, James Ndegwa, as the Group Chairman. On the other hand, Isaac Awuondo will lead NCBA Bank Kenya as the chairman.Former CBA chairman, Desterio Oyatsi, will deputize James Ndegwa whereas John Gachora will hold the Group’s MD office. Additionally, a letter from the company secretary reveals the following members of the Group’s new board: John S. Armitage – Non-executive Director. George A Maina – Non-executive Director. Hon. Abdirahin Abdi – Non-executive Director. Andrew Ndegwa – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Philip Lopokoiyot – Non-executive Director. Isaac Awuondo – Non-executive Director. David Abwoga – Executive Director. Jeremy Ngunze – Executive Director. Consequently, other members of the NCBA Bank Kenyan PLC board include: John S. Armitage – Non-executive Director. Andrew S.M Ndegwa – Non-executive Director. Hon. Abdirahin H Abdi – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Kairo Thuo – Non-executive Director. Nelson J.M Maina – Non-executive Director. Jonathan Somen – Non-executive Director. The who is who in Kenya Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:The bank group named Former NIC Chairman, James Ndegwa, as the Group Chairman. On the other hand, Isaac Awuondo will lead NCBA Bank Kenya as the chairman.Former CBA chairman, Desterio Oyatsi, will deputize James Ndegwa whereas John Gachora will hold the Group’s MD office. Additionally, a letter from the company secretary reveals the following members of the Group’s new board: John S. Armitage – Non-executive Director. George A Maina – Non-executive Director. Hon. Abdirahin Abdi – Non-executive Director. Andrew Ndegwa – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Philip Lopokoiyot – Non-executive Director. Isaac Awuondo – Non-executive Director. David Abwoga – Executive Director. Jeremy Ngunze – Executive Director. Consequently, other members of the NCBA Bank Kenyan PLC board include: John S. Armitage – Non-executive Director. Andrew S.M Ndegwa – Non-executive Director. Hon. Abdirahin H Abdi – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Kairo Thuo – Non-executive Director. Nelson J.M Maina – Non-executive Director. Jonathan Somen – Non-executive Director. The who is who in Kenya Who are most of these people? Except for a few eg Ndegwa Bros, I do not know most of them. Some are familiar names eg MKR Shah (Carbacid) Somen (Access) Lopokoiyot (ex-BAT?) Awuondo, Abwoga, Ngunze, Gachora (NIC/CBA) Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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VituVingiSana wrote:Ericsson wrote:The bank group named Former NIC Chairman, James Ndegwa, as the Group Chairman. On the other hand, Isaac Awuondo will lead NCBA Bank Kenya as the chairman.Former CBA chairman, Desterio Oyatsi, will deputize James Ndegwa whereas John Gachora will hold the Group’s MD office. Additionally, a letter from the company secretary reveals the following members of the Group’s new board: John S. Armitage – Non-executive Director. George A Maina – Non-executive Director. Hon. Abdirahin Abdi – Non-executive Director. Andrew Ndegwa – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Philip Lopokoiyot – Non-executive Director. Isaac Awuondo – Non-executive Director. David Abwoga – Executive Director. Jeremy Ngunze – Executive Director. Consequently, other members of the NCBA Bank Kenyan PLC board include: John S. Armitage – Non-executive Director. Andrew S.M Ndegwa – Non-executive Director. Hon. Abdirahin H Abdi – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Kairo Thuo – Non-executive Director. Nelson J.M Maina – Non-executive Director. Jonathan Somen – Non-executive Director. The who is who in Kenya Who are most of these people? Except for a few eg Ndegwa Bros, I do not know most of them. Some are familiar names eg MKR Shah (Carbacid) Somen (Access) Lopokoiyot (ex-BAT?) Awuondo, Abwoga, Ngunze, Gachora (NIC/CBA) Ngaine & Abwoga are Citibank Products. Of course plus Andrew 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: Member Joined: 12/8/2006 Posts: 104
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Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:The bank group named Former NIC Chairman, James Ndegwa, as the Group Chairman. On the other hand, Isaac Awuondo will lead NCBA Bank Kenya as the chairman.Former CBA chairman, Desterio Oyatsi, will deputize James Ndegwa whereas John Gachora will hold the Group’s MD office. Additionally, a letter from the company secretary reveals the following members of the Group’s new board: John S. Armitage – Non-executive Director. George A Maina – Non-executive Director. Hon. Abdirahin Abdi – Non-executive Director. Andrew Ndegwa – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Philip Lopokoiyot – Non-executive Director. Isaac Awuondo – Non-executive Director. David Abwoga – Executive Director. Jeremy Ngunze – Executive Director. Consequently, other members of the NCBA Bank Kenyan PLC board include: John S. Armitage – Non-executive Director. Andrew S.M Ndegwa – Non-executive Director. Hon. Abdirahin H Abdi – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Kairo Thuo – Non-executive Director. Nelson J.M Maina – Non-executive Director. Jonathan Somen – Non-executive Director. The who is who in Kenya Who are most of these people? Except for a few eg Ndegwa Bros, I do not know most of them. Some are familiar names eg MKR Shah (Carbacid) Somen (Access) Lopokoiyot (ex-BAT?) Awuondo, Abwoga, Ngunze, Gachora (NIC/CBA) Ngaine & Abwoga are Citibank Products. Of course plus Andrew Andrew?
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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passiveinvestor wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:The bank group named Former NIC Chairman, James Ndegwa, as the Group Chairman. On the other hand, Isaac Awuondo will lead NCBA Bank Kenya as the chairman.Former CBA chairman, Desterio Oyatsi, will deputize James Ndegwa whereas John Gachora will hold the Group’s MD office. Additionally, a letter from the company secretary reveals the following members of the Group’s new board: John S. Armitage – Non-executive Director. George A Maina – Non-executive Director. Hon. Abdirahin Abdi – Non-executive Director. Andrew Ndegwa – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Philip Lopokoiyot – Non-executive Director. Isaac Awuondo – Non-executive Director. David Abwoga – Executive Director. Jeremy Ngunze – Executive Director. Consequently, other members of the NCBA Bank Kenyan PLC board include: John S. Armitage – Non-executive Director. Andrew S.M Ndegwa – Non-executive Director. Hon. Abdirahin H Abdi – Non-executive Director. Esther Ngaine – Non-executive Director. Mukeshchandra K. R Shah – Non-executive Director. Kairo Thuo – Non-executive Director. Nelson J.M Maina – Non-executive Director. Jonathan Somen – Non-executive Director. The who is who in Kenya Who are most of these people? Except for a few eg Ndegwa Bros, I do not know most of them. Some are familiar names eg MKR Shah (Carbacid) Somen (Access) Lopokoiyot (ex-BAT?) Awuondo, Abwoga, Ngunze, Gachora (NIC/CBA) Ngaine & Abwoga are Citibank Products. Of course plus Andrew Andrew? Yes Andrew Ndegwa, when misee/musee was CBK Governor. 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: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Rank: Member Joined: 6/26/2008 Posts: 384
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NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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xtina wrote:NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
NCBA is out to fight mkt share from equity bank Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:xtina wrote:NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
NCBA is out to fight mkt share from equity bank Gachora is not JM. The latter has a significant equity stake. Gachora's pay was 3x JM's in a year when NIC did worse than the prior year. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,516 Location: nairobi
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xtina wrote:NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
Bold move HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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[quote=obiero][quote=xtina]NCBA adds branches in expansion drive NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses. The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time. This will raise its branch network to 95, spread across 21 counties. The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties. Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres. “You will see activities as early as next year. “By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview. He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank. “We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora. He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets. The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets. Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch. Banking is moving from bricks and mortar. They should have tried to build on mshwari and loop. Towards the goal of financial freedom
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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obiero wrote:xtina wrote:NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
Bold move Brick & morter, more money is made in alternative channels!!! 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: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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Angelica _ann wrote:obiero wrote:xtina wrote:NCBA adds branches in expansion drive
NCBA Group will open at least 10 new branches in Kenya next year as it sets eyes on expanding lending to small and medium-sized businesses.
The lender will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
This will raise its branch network to 95, spread across 21 counties.
The lender, which emerged from the combination of the former NIC Group and CBA Group, currently has 85 physical branches in 17 counties.
Group Managing director John Gachora said the branches will be smaller in size and serve more as sales centres as opposed to full service centres.
“You will see activities as early as next year.
“By end of 2020 we want to have entered four more counties and added at least 10 branches,” Mr Gachora told the Business Daily in an interview.
He explained that despite the industry’s increased focus on digital as opposed to physical branches, market surveys show that physical branches still dictate customer decisions on where to bank.
“We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees,” said Mr Gachora.
He expects that this would help the bank to expand without having to incur huge operational costs. Mr Gachora estimates that the new model would see the upcoming branches run at about a third the cost of traditional outlets.
The merger has left the new outfit with branch overlaps in places such as Thika Road Mall and Junction Mall while, in some instances, the branches face each other across the streets.
Mr Gachora said these would be merged but added that the strategy is to open one or two new ones in strategic locations for each closed branch.
Bold move Brick & morter, more money is made in alternative channels!!! I think in banking brick & mortar aids in attracting the new customer, alternative channels locks in the customer to keep using the bank. Most customers don't want to go to the bank to do a transaction but will open an account and do business with a bank they have easy access to should any issue arise that they may need to speak to someone physically. Small strategic cost-efficient branches make sense
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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I don't know if anyone of you banks with NCBA... Post merger the services have been horrendous... Nothing seems to work efficiently. possunt quia posse videntur
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Rank: Member Joined: 6/26/2008 Posts: 384
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maka wrote:I don't know if anyone of you banks with NCBA... Post merger the services have been horrendous... Nothing seems to work efficiently. Growing pains, I would imagine. This was expected as VVS intimated in an earlier post but eventually they should be fine. sparkly wrote: Sober wrote: From the presentation done by the MD on the NIC-CBaa Merger, the shareholders will give it a nod. As shareholders, we gave it a nod a long time ago. The price rallied for a moment above 40 but has now dropped to 36. There will probably be a huge charge to earnings for 2019 and maybe 2020 for restructuring, re-branding, staff reductions, ex-gratia payments, re-training, etc. The gains will likely come from 2021 onwards. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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xtina wrote:maka wrote:I don't know if anyone of you banks with NCBA... Post merger the services have been horrendous... Nothing seems to work efficiently. Growing pains, I would imagine. This was expected as VVS intimated in an earlier post but eventually they should be fine. sparkly wrote: Sober wrote: From the presentation done by the MD on the NIC-CBaa Merger, the shareholders will give it a nod. As shareholders, we gave it a nod a long time ago. The price rallied for a moment above 40 but has now dropped to 36. There will probably be a huge charge to earnings for 2019 and maybe 2020 for restructuring, re-branding, staff reductions, ex-gratia payments, re-training, etc. The gains will likely come from 2021 onwards. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett Well I have banked with them for 8 years now I think it's time to get to move to another bank... Let me try DTB or I&M. possunt quia posse videntur
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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Their (nic securities) online share trading platform has been screwed up since the merger. For example, it has not worked optimally since the two institutions merged. Management issues apologies continually and they are never short of excuses! So useless... If it don't make dollars, it don't make sense
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