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Potential merger NIC + CBA
Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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sparkly wrote:watesh wrote:Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much. I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service. Heard there is mistreatment of customers who were formerly at NIC. For example fictitious deductions if you had a credit facility with NIC. Terms also been changed for account holders Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ericsson wrote:sparkly wrote:watesh wrote:Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much. I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service. Heard there is mistreatment of customers who were formerly at NIC. For example fictitious deductions if you had a credit facility with NIC. Terms also been changed for account holders True... I banked with NIC ... Naona kivumbi aisee ..... possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.standardmedi...aults-increase-fourfold
Mshwari defaults increase four fold Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/16/2019 Posts: 313
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maka wrote:Ericsson wrote:sparkly wrote:watesh wrote:Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much. I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service. Heard there is mistreatment of customers who were formerly at NIC. For example fictitious deductions if you had a credit facility with NIC. Terms also been changed for account holders True... I banked with NIC ... Naona kivumbi aisee ..... The Nation confirms all the above accounts and more. LINKQuote:
... there is a storm in NCBA’s online platforms. Under every post the bank makes, there are often customers complaining of one inconvenience or another; be it a failed ATM withdrawal, slow customer care response, non-responsive systems among others. Others are blunt enough to write that the merger reduced the quality of service they used to enjoy.
Mr Gachora admits that there are issues, and most of them are to do with merging of the banking systems. Over the past few weeks, he says, the group has been merging customer details. Initially, the core banking systems existed separately and were inter-connected with a bridging software. While the bridging worked, he says, it did not offer access to all data, and it was not uncommon for a former CBA customer to be referred to an NIC branch.
“We wanted to take away that noise by having one uniform experience for our customers. That is why we decided to merge our systems, almost a year down the line,” he says.
“Now, merging two banking systems is very difficult,” adds Mr Gachora . The works done so far, he notes, have ensured seamless operation of branches but there is still more to do.
“Mobile banking was unstable for a while; now I think we’ve got everything stable,” he says.
“What has really taken time to work is online banking. And the reason that has taken time to work is that what we did was to combine all the customers onto one online banking platform; whether you are ex-CBA or ex-NIC. And what we have found is that the capacity tripled; or the required capacity tripled. And that is causing a lot of problems.”
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Rank: Member Joined: 3/16/2019 Posts: 313
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Rank: New-farer Joined: 2/8/2018 Posts: 73
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Clueless MD playing PR....
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Rank: Member Joined: 7/6/2018 Posts: 175 Location: Kinshasa
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Why don't they hire the hacker students?  Very unresponsive company. Keeps running customer surveys but never improves on its services. Bure kabisa! If it don't make dollars, it don't make sense
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Rank: Member Joined: 3/16/2019 Posts: 313
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Balaa wrote:Why don't they hire the hacker students? Very unresponsive company. Keeps running customer surveys but never improves on its services. Bure kabisa! Safaricom rewards ethical hackers if they can find bugs in there products. So what you are you saying is not far fetched.  NCBA should follow suit since no system is invincible. LINKQuote:If you believe you have found a security vulnerability on any of Safaricom’s products or services, we encourage you to let us know right away. We will investigate all legitimate reports and do our best to quickly fix the problem. Please email findings to bugbounty@safaricom.co.ke. Please be aware we do not permit any reports to be publicly disclosed. Should your submission be valid and impactful, we may invite you to join our private Bug Bounty Program on HackerOne.
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Rank: Member Joined: 3/16/2019 Posts: 313
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Tough times for bankers as NCBA draws first bloodQuote:NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.
Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.
“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.
The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.
In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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kmucheke wrote:Tough times for bankers as NCBA draws first bloodQuote:NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.
Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.
“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.
The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.
In the second phase, whose outcome will depend on the VEP, workers will be declared redundant. Expect disappointing Q3 and Q4 results. Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 969 Location: Kenya
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kmucheke wrote:Tough times for bankers as NCBA draws first bloodQuote:NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.
Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.
“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.
The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.
In the second phase, whose outcome will depend on the VEP, workers will be declared redundant. Stock price already tanking
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:kmucheke wrote:Tough times for bankers as NCBA draws first bloodQuote:NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.
Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.
“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.
The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.
In the second phase, whose outcome will depend on the VEP, workers will be declared redundant. Expect disappointing Q3 and Q4 results. Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank. I am surprised he wasn't axed after the merger. NIC has performed poorly under him. When he came in there were major NPLs taken to give him somewhat of a clean slate. 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: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:kmucheke wrote:Tough times for bankers as NCBA draws first bloodQuote:NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.
Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.
“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.
The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.
In the second phase, whose outcome will depend on the VEP, workers will be declared redundant. Expect disappointing Q3 and Q4 results. Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank. I am surprised he wasn't axed after the merger. NIC has performed poorly under him. When he came in there were major NPLs taken to give him somewhat of a clean slate. Can't be axed with reasons only known to them. Problems started during the reign of James Macharia who is now CS Infrastructure. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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NCBA Quarterly performance in 2020 Q1--2.46bn Q2--1.45bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,515 Location: nairobi
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Ericsson wrote:Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Shocking really. Must have been skeles in the closet
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: 8/10/2014 Posts: 969 Location: Kenya
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Ericsson wrote:Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Things must be really thick in this bank and their sentiments indicate it may get worse in the coming months.
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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Ericsson wrote:Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Mshwari still domiciled there? People not paying back their mshwari loans ama? punda amecheka
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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obiero wrote:Ericsson wrote:Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Shocking really. Must have been skeles in the closet it has caught my attention and will act accordingly,I will be more comfortable in Co -op than Ncba "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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watesh wrote:Ericsson wrote:Ericsson wrote:NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn Q3---loss of 120mn Things must be really thick in this bank and their sentiments indicate it may get worse in the coming months. Provision for bad debt at ksh.13bn in Q3 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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