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Coop Bank 2019 and beyond
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Queen
#171 Posted : Friday, January 08, 2021 3:25:19 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
mlennyma wrote:
According to what this guy's reported upto Q3,a warning was not expected unless they made 0 income in Q4


The only probable scenario is that they employed very many cooks in their kitchen.

From Post#123 quoted above, it was rather obvious that Coop bank's results, compared to those of other banks, were an outlier.
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  | | Edit by user: Friday, January 08, 2021 8:04 PM | Reason: Not specified
Ericsson
#172 Posted : Sunday, January 10, 2021 11:41:20 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ericsson wrote:
Profit warning issued


https://mobile.twitter.c...7421649604403200/photo/1
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#173 Posted : Monday, January 11, 2021 8:30:33 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.
Towards the goal of financial freedom
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Queen
#174 Posted : Monday, January 11, 2021 3:19:02 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?
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  | | Edit by user: Monday, January 11, 2021 4:30 PM | Reason: Not specified
mlennyma
#175 Posted : Tuesday, January 12, 2021 11:06:30 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#176 Posted : Tuesday, January 12, 2021 11:13:08 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions.
I expect Equity group to also follow suit.

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#177 Posted : Tuesday, January 12, 2021 11:14:44 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Lies was to protect the share price from further erosion.
Luckily in the spirit of wazua someone had already raised the red flag.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Queen
#178 Posted : Tuesday, January 12, 2021 6:40:23 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
Ericsson wrote:
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Lies was to protect the share price from further erosion.
Luckily in the spirit of wazua someone had already raised the red flag.


Since it's rather obvious lies were involved ( and probably have been involved in lies severally in the past), we now know how this award was arrived at and, with the benefit of hindsight, should probably be withdrawn. Best bank, my foot!

https://www.the-star.co....nya-at-emea-awards-2020/
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  | | Edit by user: Tuesday, January 12, 2021 6:50 PM | Reason: Not specified
Queen
#179 Posted : Tuesday, January 12, 2021 6:52:52 PM
Rank: Member

Joined: 11/21/2018
Posts: 564
Location: Britain
Ericsson wrote:
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions.
I expect Equity group to also follow suit.



Same here.
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Ericsson
#180 Posted : Tuesday, January 19, 2021 8:00:49 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...n-ifc-businesses-3260984
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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