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Mwalimu Sacco buys 51pc of ECB
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hisah
#21 Posted : Wednesday, July 06, 2016 11:32:09 AM
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Joined: 8/4/2010
Posts: 8,977
murchr wrote:
hisah wrote:
hisah wrote:
Ericsson wrote:
@Sober
SOber up gava has stopped the transaction to allow further probe.The sacco might be buying an empty shell

Merali to cede control of the bank? Fishy deal. A particular sacco was wanjikud so will read a future headline.

That didn't take long...

Equatorial Commercial Bank loss after tax stands at Sh326.4m
Quote:
The bank said it set aside a total of Sh880.8 million to cover bad debts, a 915 per cent jump from the Sh87 million it set aside over a similar period the previous year.


Hope mwalimu sacco knows how to swim in shark infested waters.

This NPL shadowy animal still lingers in the KE banking sector. Risk departments at the banks are on toes if their models are right. Caging that animal is taking extra effort...


I've been waiting for this bombshell, i believe this is not all...

It's interesting how the NPL drama has unravel one year later as the bad loans come home to roost and tanked the banking stocks.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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kawi254
#22 Posted : Monday, September 07, 2020 6:37:01 PM
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Joined: 2/20/2015
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Borrowers default 90pc of Spire Bank loan book

Mwalimu Sacco was warned here back in 2015 not to go to bed with Naushad Merali.
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Ericsson
#23 Posted : Tuesday, September 08, 2020 12:24:27 AM
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kawi254 wrote:
Borrowers default 90pc of Spire Bank loan book

Mwalimu Sacco was warned here back in 2015 not to go to bed with Naushad Merali.


Options now is to either shutdown due to non-compliance with statutory ratios or be acquired at bei ya jioni
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#24 Posted : Sunday, December 27, 2020 1:22:56 PM
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https://mobile.twitter.c...030908077670400/photo/1

Mwalimu Sacco acquires the remaining 25% ownership of the bank and now fully owns it 100%.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#25 Posted : Wednesday, December 30, 2020 4:46:44 PM
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Coop bank
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Ericsson
#26 Posted : Saturday, January 02, 2021 3:20:01 PM
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Ericsson wrote:
https://mobile.twitter.com/moneyacademyKE/status/1343030908077670400/photo/1

Mwalimu Sacco acquires the remaining 25% ownership of the bank and now fully owns it 100%.


https://www.theeastafric...ut-of-spire-bank-3242798
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#27 Posted : Tuesday, March 08, 2022 4:22:43 PM
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https://www.businessdail...king-spire-bank-3740230

Mwalimu Sacco is waiting for regulatory approvals to conclude the sale of troubled Spire Bank to a local lender by end of March.

The Sacco CEO Kenneth Odhiambo said they have agreed to terms with a financial institution willing to buy the lender and are waiting on the Sacco Societies Regulatory Authority and the Central Bank of Kenya approvals to finalise the deal.

Mr Odhiambo said the deal was an asset purchase agreement where the counterparty will take over assets and their liabilities rather than injecting in money through an equity purchase.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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My 2 cents
#28 Posted : Tuesday, March 08, 2022 8:45:50 PM
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Joined: 6/2/2010
Posts: 1,066
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/teachers-find-buyer-for-loss-making-spire-bank-3740230

Mwalimu Sacco is waiting for regulatory approvals to conclude the sale of troubled Spire Bank to a local lender by end of March.

The Sacco CEO Kenneth Odhiambo said they have agreed to terms with a financial institution willing to buy the lender and are waiting on the Sacco Societies Regulatory Authority and the Central Bank of Kenya approvals to finalise the deal.

Mr Odhiambo said the deal was an asset purchase agreement where the counterparty will take over assets and their liabilities rather than injecting in money through an equity purchase.


I just hope it is not KCB.
They have become the shit hoover.
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VituVingiSana
#29 Posted : Tuesday, March 08, 2022 10:56:15 PM
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VituVingiSana wrote:
I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move! The SACCO should talk to Centum and buy a stake in K-Rep...

And it has came to pass.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#30 Posted : Wednesday, March 09, 2022 6:30:51 AM
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VituVingiSana wrote:
VituVingiSana wrote:
I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move! The SACCO should talk to Centum and buy a stake in K-Rep...

And it has came to pass.


Is Mwalimu Sacco buying a stake in Sidian Bank?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#31 Posted : Wednesday, March 09, 2022 6:32:50 AM
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Joined: 12/4/2009
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My 2 cents wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/bd/corporate/companies/teachers-find-buyer-for-loss-making-spire-bank-3740230

Mwalimu Sacco is waiting for regulatory approvals to conclude the sale of troubled Spire Bank to a local lender by end of March.

The Sacco CEO Kenneth Odhiambo said they have agreed to terms with a financial institution willing to buy the lender and are waiting on the Sacco Societies Regulatory Authority and the Central Bank of Kenya approvals to finalise the deal.

Mr Odhiambo said the deal was an asset purchase agreement where the counterparty will take over assets and their liabilities rather than injecting in money through an equity purchase.


I just hope it is not KCB.
They have become the shit hoover.


Cooperative bank of Kenya most likely
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#32 Posted : Wednesday, March 09, 2022 9:52:46 AM
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Joined: 1/3/2007
Posts: 18,103
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Ericsson wrote:
VituVingiSana wrote:
VituVingiSana wrote:
I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move! The SACCO should talk to Centum and buy a stake in K-Rep...

And it has came to pass.


Is Mwalimu Sacco buying a stake in Sidian Bank?
"I wonder how much the Mwalimu SACCO officials are getting in this deal... Bad move"
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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