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COOP Bank FY results 2013 profit BT up 9%
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murchr
#51 Posted : Wednesday, March 19, 2014 8:50:47 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Cde Monomotapa wrote:
#61 http://www.wazua.co.ke/f...sts&t=26558&p=4

mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
Excellent!!!

Bonus?


Yes, you do knw how i like the sound of that. Do u hv the dates of CFCI? I hope KNRE wil not disappoint


Enjoy ... Last year CFCI released on 14th March. ... Hizi companies zafaa ziwe zinatupatia upcoming events calendar to avoid this date speculation.... KenyaRe, i await from outside the counter ;-)


I hope they release them ths wk, enuff with the cookn. @Mweke KNRE will shock u off ur shoes


On looking at the @Cde wikileaks, i believe you. I however keep wondering what they did with the JKIA loss. Ama its to reflect in H/FY14



From what I read the expense was not much, but we'll see. Was the insurer APA?


Where do you read that the expense was not much ... yes the insurer was APA and Reinsurer Kenya Re ... Below is an extract from IRA Q3 2013 Insurance Industry Report:

Major Occurrences Affecting the Industry

JKIA's international arrivals section was destroyed in a fire incident on 7th August 2013. APA Insurance Company is the insurer for Kenya Airports Authority (KAA). According to Kenya Re, who is the reinsurer, initial estimates and second investigations indicate that the claim could be KES 2.5 billion. APA Insurance has already settled a claim for Micro-City Computers, a company contracted to put up CCTV cameras at the Jomo Kenyatta International Airport (JKIA) at a sum of KES 19.9 million.


What % does the reinsurer pay?


Kizungumkuti hapo. Haijulikani


Wacha tungoje basi


Ndivyo hivyo



Thanks @cde.....@mweke...have u seen how the risk was spread
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Aguytrying
#52 Posted: : Wednesday, March 19, 2014 8:59:03 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
obiero wrote:
Aguytrying wrote:
obiero wrote:
check out stockmaster's thread and see at what price he sold coop bank. my average buy price is KES 16.20. dear wazuans. I buy low and sell high
NB not highest, simply high :)


what price did u sell. I also bought at 16.20.

@aguy sold entire holding today at KES 20.25.. I repeat, it may go higher in near term and especially the longer term, but i have made my GAINS


well done. people are hating and you've made some of them cash. sielewi watu. without decisiveness one can't succeed in stocks
The investor's chief problem - and even his worst enemy - is likely to be himself
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mwekez@ji
#53 Posted : Wednesday, March 19, 2014 10:50:26 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
murchr wrote:
Cde Monomotapa wrote:
#61 http://www.wazua.co.ke/f...sts&t=26558&p=4

mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
mwekez@ji wrote:
murchr wrote:
Excellent!!!

Bonus?


Yes, you do knw how i like the sound of that. Do u hv the dates of CFCI? I hope KNRE wil not disappoint


Enjoy ... Last year CFCI released on 14th March. ... Hizi companies zafaa ziwe zinatupatia upcoming events calendar to avoid this date speculation.... KenyaRe, i await from outside the counter ;-)


I hope they release them ths wk, enuff with the cookn. @Mweke KNRE will shock u off ur shoes


On looking at the @Cde wikileaks, i believe you. I however keep wondering what they did with the JKIA loss. Ama its to reflect in H/FY14



From what I read the expense was not much, but we'll see. Was the insurer APA?


Where do you read that the expense was not much ... yes the insurer was APA and Reinsurer Kenya Re ... Below is an extract from IRA Q3 2013 Insurance Industry Report:

Major Occurrences Affecting the Industry

JKIA's international arrivals section was destroyed in a fire incident on 7th August 2013. APA Insurance Company is the insurer for Kenya Airports Authority (KAA). According to Kenya Re, who is the reinsurer, initial estimates and second investigations indicate that the claim could be KES 2.5 billion. APA Insurance has already settled a claim for Micro-City Computers, a company contracted to put up CCTV cameras at the Jomo Kenyatta International Airport (JKIA) at a sum of KES 19.9 million.


What % does the reinsurer pay?


Kizungumkuti hapo. Haijulikani


Wacha tungoje basi


Ndivyo hivyo



Thanks @cde.....@mweke...have u seen how the risk was spread


Initial payment - Kes. 0.5B (paid)
Final payment - Kes. ??? (to be paid on ___)
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Ericsson
#54 Posted : Wednesday, March 19, 2014 11:10:22 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Some of the highlights mentioned by the CEO of Co-operative Bank during the presentation are;
--The bank has shelved opening additional branches in South Sudan because of the instability.They had planned to open a branch in every state in the country.
--The co-operative movement the largest shareholders have said/committed/signed an agreement they are not disposing or reducing their shareholding in the bank for the next ten years.
--The branch intends to open an additional 20 branches this year.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Cde Monomotapa
#55 Posted : Wednesday, March 19, 2014 11:11:48 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
It's Ok @mweke smile You can consider the stock in 2016. We'll continue to share the tab with our partners. However, I wonder where the insurance sector will be by then both locally & regionally... Anxious
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mwekez@ji
#56 Posted : Thursday, March 20, 2014 9:05:16 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Clarification @Cde, why 2016? Expensing in 2013/14/15???
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Ericsson
#57 Posted : Thursday, March 20, 2014 9:10:20 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Concerning JKIA fire;Kenya Airports Authority was nearly taking APA insurance to court after they had refused to accept compensation.
APA were also told by KAA that if they do not compensate them then they should forget any future business with KAA.
APA then agreed to compensation and they will fork out more than a billion shillings
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#58 Posted : Thursday, March 20, 2014 10:33:45 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
Ericsson wrote:
Concerning JKIA fire;Kenya Airports Authority was nearly taking APA insurance to court after they had refused to accept compensation.
APA were also told by KAA that if they do not compensate them then they should forget any future business with KAA.
APA then agreed to compensation and they will fork out more than a billion shillings
APA like other insurance firms would wait for the report of the cause of the fire. If the cause was arson, and if KAA had not paid to cover it, then APA is not liable to pay. Or if it was terrorism, etc... APA re-insures the risk & the 'official report' is required to get the re-insurers to pay up their portion of the claim.

As for not getting future business... Well, a billion in the pocket today is better than fighting for future business!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Goldilocks Reloaded
#59 Posted : Thursday, March 20, 2014 10:51:12 AM
Rank: Member

Joined: 1/14/2014
Posts: 178
21 printed
Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it – Peter Lynch
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Metasploit
#60 Posted : Friday, March 21, 2014 3:04:44 PM
Rank: Veteran

Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
Goldilocks Reloaded wrote:
21 printed


Co-op bank getting a good beating!

Waiting for Next week

β€œThe pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
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