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StanChart Q1 2013 Profit Before Tax down 16%
Rank: Member Joined: 6/21/2010 Posts: 514 Location: Nairobi
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obiero wrote:This and NBK could easily be among the few that have uncooked books True, i believe they are the ones providing the true positions. 'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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erifloss wrote:obiero wrote:This and NBK could easily be among the few that have uncooked books True, i believe they are the ones providing the true positions. Ha ha ha. Other banks have reported stellar results because of maintaining high interest rates on loans and paying lower interest rates on deposits. How is that cooking books!!! ... Stanchart was not successful in lowering interest rates on deposits because 55.0% of its deposits are provided by corporate clients who tend to be very demanding. ... NBK iko na mashida mingi
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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I attended the AGM and I remember two questions asked by one Adan Hussein.
1. Dividend policy based on previous years of 3 payments in a year
2. Reflection on the performance for this year because results had not been released yet the 1st quarter was over.
The answers from one Richard Etemesi were
1. The company will revert back to 3 payments starting this year
2. Results are ready and they are good.
When management clearly presents lies in an AGM how can they be held to account?
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Rank: Member Joined: 2/8/2007 Posts: 808
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@Jamani I know what you mean. Mr Matu at Olympia is the proffessa on what you saying. Promises dividends will be paid during the week after AGM and you go a whole year without dividends being paid.
I wonder what CMA does because this is what they need to reign on, they have overdone brokers time they shifted to the underlying assets themselves. Mr Matu has been issuing dividends which are never paid over the past 3yrs.
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StanChart Q1 2013 Profit Before Tax down 16%
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