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CENTUM FY2016/2017
obiero
#21 Posted : Tuesday, August 15, 2017 9:10:23 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,530
Location: nairobi
Angelica _ann wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/markets/news/Sidian-slips-loss-lower-interest-income-/3815534-4057684-h6y6c2z/index.html

The bank laid off 108 out of its total 560 staff at a cost of Sh70 million as a strategy to contain costs under the rate caps regime.
Despite the job cuts, Sidian’s wage bill increased 10 per cent to 374 million in the half-year period.


Probably because of bonuses to employees like mother smile

Some of the recent moves by Centum aren't logical

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
winston
#22 Posted : Wednesday, August 16, 2017 10:25:52 PM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
obiero wrote:
Angelica _ann wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/markets/news/Sidian-slips-loss-lower-interest-income-/3815534-4057684-h6y6c2z/index.html

The bank laid off 108 out of its total 560 staff at a cost of Sh70 million as a strategy to contain costs under the rate caps regime.
Despite the job cuts, Sidian’s wage bill increased 10 per cent to 374 million in the half-year period.


Probably because of bonuses to employees like mother smile

Some of the recent moves by Centum aren't logical


Is it just me...i seem to think the share moves in tandem with Simba and Member...if true..whats the correlation?
alotoftalk
#23 Posted : Wednesday, August 16, 2017 11:54:52 PM
Rank: Member


Joined: 8/27/2015
Posts: 138
Location: Harare
VituVingiSana wrote:
Ericsson wrote:
http://www.businessdailyafrica.com/markets/news/Sidian-slips-loss-lower-interest-income-/3815534-4057684-h6y6c2z/index.html

The bank laid off 108 out of its total 560 staff at a cost of Sh70 million as a strategy to contain costs under the rate caps regime.
Despite the job cuts, Sidian’s wage bill increased 10 per cent to 374 million in the half-year period.


Tough times for Tier 3 banks. As a shareholder of Centum, I hope Sidian can find a strategic investor who can bring in new cash [equity] and expertise in micro-banking. Is there a possibility of Sidian acquiring Platinum (micro-lender) as a subsidiary?


Except for the extra regulatory and compliance risks the tie-up will bring to Platcorp and its other subs (Platinum, Premier etc.) that would be a winning strategy.
Investment philosophy development in progress...
Ericsson
#24 Posted : Thursday, August 17, 2017 10:08:21 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,701
Location: NAIROBI
Merging Platinum and Sidian bank will yield no benefit.
The bleeding at Sidian far outweighs the profits Platinum makes
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#25 Posted : Monday, August 28, 2017 11:12:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,701
Location: NAIROBI
iv) Directors retiring by Rotation
a)To note the retirement of Mr Henry Njoroge a director retiring by rotation who,although eligible,does not offer himself for re-election.

b)To note the retirement of Mr Imtiaz Khan a director retiring by rotation who,although eligible,does not offer himself for re-election.

c)To note the retirement of Dr James Mcfie a director retiring by rotation who,although eligible,does not offer himself for re-election.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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