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KCB 2018 and Beyond
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Gathige
#501 Posted : Tuesday, December 17, 2019 10:25:40 AM
Rank: Elder

Joined: 3/29/2011
Posts: 2,242
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
Kenya Red Cross (KRC) run Boma Hotels has been placed under receivership after failing to repay loans owed to National Bank of Kenya.


Sheikh Munir legacy loans...the loan was owned by Equity Bank, non perfoming...came Sheikh Munir CEO of NBK,,,bought the over 4B loan and it remained non performing


KCB are ruthless,next will be PCEA who defaulted on an NBK loan.



Looks like the PCEA and NBK have reached an agreement. NBK is selling portion of the land directly to the public in Ruiru and has left the rest to PCEA. This looks more amicable than the court battle.
"Things that matter most must never be at the mercy of things that matter least." Goethe
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Ericsson
#502 Posted : Friday, December 20, 2019 9:52:00 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Gathige wrote:
Ericsson wrote:
KaunganaDoDo wrote:
Ericsson wrote:
Kenya Red Cross (KRC) run Boma Hotels has been placed under receivership after failing to repay loans owed to National Bank of Kenya.


Sheikh Munir legacy loans...the loan was owned by Equity Bank, non perfoming...came Sheikh Munir CEO of NBK,,,bought the over 4B loan and it remained non performing


KCB are ruthless,next will be PCEA who defaulted on an NBK loan.



Looks like the PCEA and NBK have reached an agreement. NBK is selling portion of the land directly to the public in Ruiru and has left the rest to PCEA. This looks more amicable than the court battle.


41.5% YTD share price appreciation
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#503 Posted : Friday, December 20, 2019 11:39:35 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
https://www.businessdail...92324-m92y60/index.html
KCB Group has joined the fight over the ownership of the land hosting Weston Hotel in Nairobi on grounds that the lender gave the Sh1.2 billion loan used to build the facility associated with Deputy President William Ruto.
The bank is now locked in a court battle where the Kenya Civil Aviation Authority (KCAA) is claiming ownership of the land and wants the hotel demolished and the property handed back to it.

The bank argues that it risks losing the Sh1.2 billion plus interest on loan if the court grants the aviation regulator its wish since the title property was used as security for the loan.

“At the time of registration, the interested party (KCB) did a due diligence and fulfilled all prerequisites to registration of the charge in land as required by law,” the bank said in documents filed in court.
In the application filed before the Environment and Land Court, KCB said that it had done due diligence and confirmed that Weston Hotel was the registered proprietor of the land before advancing more than Sh1.2 billion to the hotel four years ago.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#504 Posted : Saturday, December 21, 2019 7:14:55 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
https://www.businessdailyafrica.com/news/KCB-discloses-Sh1-2bn-loan-in-Weston-Hotel/539546-5392324-m92y60/index.html
KCB Group has joined the fight over the ownership of the land hosting Weston Hotel in Nairobi on grounds that the lender gave the Sh1.2 billion loan used to build the facility associated with Deputy President William Ruto.
The bank is now locked in a court battle where the Kenya Civil Aviation Authority (KCAA) is claiming ownership of the land and wants the hotel demolished and the property handed back to it.

The bank argues that it risks losing the Sh1.2 billion plus interest on loan if the court grants the aviation regulator its wish since the title property was used as security for the loan.

“At the time of registration, the interested party (KCB) did a due diligence and fulfilled all prerequisites to registration of the charge in land as required by law,” the bank said in documents filed in court.
In the application filed before the Environment and Land Court, KCB said that it had done due diligence and confirmed that Weston Hotel was the registered proprietor of the land before advancing more than Sh1.2 billion to the hotel four years ago.




we wonder if this loan will be paid when the guy becomes president in 2022.
Towards the goal of financial freedom
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VituVingiSana
#505 Posted : Saturday, December 21, 2019 11:00:35 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Ebenyo wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/news/KCB-discloses-Sh1-2bn-loan-in-Weston-Hotel/539546-5392324-m92y60/index.html
KCB Group has joined the fight over the ownership of the land hosting Weston Hotel in Nairobi on grounds that the lender gave the Sh1.2 billion loan used to build the facility associated with Deputy President William Ruto.
The bank is now locked in a court battle where the Kenya Civil Aviation Authority (KCAA) is claiming ownership of the land and wants the hotel demolished and the property handed back to it.

The bank argues that it risks losing the Sh1.2 billion plus interest on loan if the court grants the aviation regulator its wish since the title property was used as security for the loan.

“At the time of registration, the interested party (KCB) did a due diligence and fulfilled all prerequisites to registration of the charge in land as required by law,” the bank said in documents filed in court.
In the application filed before the Environment and Land Court, KCB said that it had done due diligence and confirmed that Weston Hotel was the registered proprietor of the land before advancing more than Sh1.2 billion to the hotel four years ago.


we wonder if this loan will be paid when the guy becomes president in 2022.
It will be sorted out whether "forgiven" or paid off by other means.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#506 Posted : Wednesday, December 25, 2019 3:42:50 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
https://www.nation.co.ke...96552-cxddexz/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#507 Posted : Thursday, December 26, 2019 7:09:50 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
https://www.nation.co.ke/news/Collapse-of-firm-in-Bura-project-sinks-taxpayers-cash/1056-5396552-cxddexz/index.html



Tomorrow kcb will trade at below 53.25
Towards the goal of financial freedom
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Ericsson
#508 Posted : Monday, January 06, 2020 11:24:08 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
https://www.businessdail...08830-8vv52p/index.html

KCB Group has provided new capital of undisclosed amount to its newly acquired subsidiary National Bank of Kenya (NBK) which had suffered capital shortfalls for years.

The country’s biggest bank says NBK is now well capitalised, with the new funds provided towards the end of last year.

“We provided the funds last week. NBK is now compliant in terms of capital,” said Lawrence Kimathi, KCB’s chief financial officer. He declined to reveal the size of the capital injection, saying it will soon become public.

KCB had initially estimated a capital injection of up to Sh7.5 billion, with the actual figure pegged on the success level of NBK bad debt recovery.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#509 Posted : Thursday, January 09, 2020 10:24:11 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/KCB-wires-new-funds-into-National-Bank/4003102-5408830-8vv52p/index.html

KCB Group has provided new capital of undisclosed amount to its newly acquired subsidiary National Bank of Kenya (NBK) which had suffered capital shortfalls for years.

The country’s biggest bank says NBK is now well capitalised, with the new funds provided towards the end of last year.

“We provided the funds last week. NBK is now compliant in terms of capital,” said Lawrence Kimathi, KCB’s chief financial officer. He declined to reveal the size of the capital injection, saying it will soon become public.

KCB had initially estimated a capital injection of up to Sh7.5 billion, with the actual figure pegged on the success level of NBK bad debt recovery.


https://www.businessdail...1794-pq9ubgz/index.html

KCB Group has injected Sh5 billion in its newly acquired subsidiary National Bank of Kenya (NBK) enabling it to comply with capital requirements after suffering shortfalls for years.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#510 Posted : Thursday, January 09, 2020 2:06:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
https://pbs.twimg.com/me...ormat=jpg&name=large
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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