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Now Imperial Bank under receivership for 12 months

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Emerger		#121 Posted : Wednesday, October 14, 2015 9:42:08 AM
Rank: New-farer Joined: 12/1/2014 Posts: 45 Location: Nairobi		Boris Boyka wrote: malala wrote: Did CBK consider the repercussions on the depositors and other customers/stakeholders? Was this something a fine could have fixed? I am no banker but I feel like the punishment does not fit the crime. As another poster mentioned, inasmuch as we argue that it's not liquidation of the bank, Imperial's goose is pretty much cooked. Even if it is given a clean bill of health, the moment it reopens there will be mass withdrawals. Then profitability and liquidity issues will appear for real. If this was purely a compliance issue CBK may have overreacted. Ili iwe funzo kwao na Benki zengine zenye Tabia kama hiyo! The CBK reacted from a request to intervene from the Board of Directors. Too much wrangling ongoing after the late Janmohamed.
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Wendz		#122 Posted : Wednesday, October 14, 2015 10:15:58 AM
Rank: Elder Joined: 6/19/2008 Posts: 4,268		KulaRaha wrote: enyands wrote: guys I don't think there has to be anything with the books. there is more to it. there was something illegal contrary to the common banking rules and regulations that was flawed by this bank in both countries. there is either money laundering or something.....it will surface Or maybe its an inexperienced CBK Governor using a hammer to open a groundnut, with little regard to the damage this can do to the whole system? Are you saying "inexperience" contagious or how do we explain what happened with our brothers across our border?
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Cornelius Vanderbilt		#123 Posted : Wednesday, October 14, 2015 10:46:39 AM
Rank: Member Joined: 8/15/2015 Posts: 817		Emerger wrote: Boris Boyka wrote: malala wrote: Did CBK consider the repercussions on the depositors and other customers/stakeholders? Was this something a fine could have fixed? I am no banker but I feel like the punishment does not fit the crime. As another poster mentioned, inasmuch as we argue that it's not liquidation of the bank, Imperial's goose is pretty much cooked. Even if it is given a clean bill of health, the moment it reopens there will be mass withdrawals. Then profitability and liquidity issues will appear for real. If this was purely a compliance issue CBK may have overreacted. Ili iwe funzo kwao na Benki zengine zenye Tabia kama hiyo! The CBK reacted from a request to intervene from the Board of Directors. Too much wrangling ongoing after the late Janmohamed. wow. that must be a whole lot of infighting.like a small civil war
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mugwanja		#124 Posted : Wednesday, October 14, 2015 11:03:02 AM
Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi		gmg wrote: CBK bank supervision unit has been a cashcow foe many but with the new Governor mtu hana tamaa ya pesa its bound to happen. Citizen weekly the gutter had reported this issue sometimes last week What had citizen weekly reported?
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Pesa Nane		#125 Posted : Wednesday, October 14, 2015 11:31:56 AM
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c		enyands wrote: Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . KE is not a banana republic Pesa Nane plans to be shilingi when he grows up.
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mugwanja		#126 Posted : Wednesday, October 14, 2015 12:07:21 PM
Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi		shiznit wrote: Merit wrote: Do you think this happened just overnight and that no Branch Manager would have had any knowledge of the situation. I believe i was cheated and lied by a Branch Manager who said the Bank is more healthier today than it has been in the last 8 years causing me to transfer substanial sums of money in the last 5 days. This morning, i hear the bad news that Imperial Bank is under receivership by CBK. Talked with Branch Manager and she is leaving on vacation starting Thursday. The FDR was for a 4 month period. When can i expect to be paid and what about the 19.5% interest? It is statutory management rather than receivership. It's also under receivership! CBK PRESS RELEASE
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maka		#127 Posted : Wednesday, October 14, 2015 12:32:48 PM
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi		Pesa Nane wrote: enyands wrote: Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . KE is not a banana republic I like also...Had an issue with CBK staff...complained about it to the Governor...few days later was inboxed a number to call and voila the issue is on its way to being sorted. possunt quia posse videntur
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sizzla		#128 Posted : Wednesday, October 14, 2015 12:45:28 PM
Rank: Member Joined: 6/10/2006 Posts: 201 Location: Nairobi		Pesa Nane wrote: enyands wrote: Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . KE is not a banana republic I beg to differ... ba·nan·a re·pub·lic nounderogatory noun: banana republic; a small nation, especially in Africa, dependent on one crop or the influx of foreign capital.
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muganda		#129 Posted : Wednesday, October 14, 2015 3:19:42 PM
Rank: Elder Joined: 9/15/2006 Posts: 3,905		Imperial Bank represents 1.8% of banking sector; and other positive noises from CBK: Customer angst continues:
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mugwanja		#130 Posted : Wednesday, October 14, 2015 3:29:57 PM
Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi		Boris Boyka wrote: Kenyans will be skeptical in these ones. • African Banking Corporation Ltd • Guardian Bank Ltd • Consolidated Bank of Kenya Ltd • Charterhouse Bank Ltd • Giro Commercial Bank Ltd • Habib Bank Ltd • Habib Bank A.G Zurich • Jamii Bora Bank Limited • K-Rep Bank Ltd • Middle East Bank (K) Ltd • Oriental Commercial Bank Ltd • Paramount Universal Bank Ltd • Trans-National Bank Ltd • UBA Kenya Bank Limited • Victoria Commercial Bank Ltd • Dubai Bank Kenya Ltd • Development Bank of Kenya Ltd • Equatorial Commercial Bank Ltd • First community Bank Limited • Fina Bank Ltd • Fidelity Commercial Bank Ltd • Gulf African Bank Limited This is the fake list that's been spreading on whatsapp and social media! For your info, charterhouse, Dubai were closed and Fina is no longer called fina! No need to spread rumors!
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Kwanini		#131 Posted : Wednesday, October 14, 2015 4:15:21 PM
Rank: Member Joined: 1/28/2009 Posts: 353 Location: Cloud		Closest shave.... if u have something, try GoK bills/bonds, more save than any bank. Unless it decides to go greek as well! And why cant the Familiar bank sort its ever system downtime challenge? "For i am the master and the captain of my fate"
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hobbit		#132 Posted : Wednesday, October 14, 2015 4:30:41 PM
Rank: New-farer Joined: 5/25/2011 Posts: 88		Kwanini wrote: Closest shave.... if u have something, try GoK bills/bonds, more save than any bank. Unless it decides to go greek as well! And why cant the Familiar bank sort its ever system downtime challenge? Heheheeee..... This once messed me up and i run away like Usain Bolt. Very unreliable uptime
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Impunity		#133 Posted : Wednesday, October 14, 2015 7:36:34 PM
Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada		Kwanini wrote: Closest shave.... if u have something, try GoK bills/bonds, more save than any bank. Unless it decides to go greek as well! And why cant the Familiar bank sort its ever system downtime challenge? GoK is save,ok? Portfolio: Sold You know you've made it when you get a parking space for your yatcht.
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Boris Boyka		#134 Posted : Wednesday, October 14, 2015 8:14:57 PM
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here		mugwanja wrote: Boris Boyka wrote: Kenyans will be skeptical in these ones. • African Banking Corporation Ltd • Guardian Bank Ltd • Consolidated Bank of Kenya Ltd • Charterhouse Bank Ltd • Giro Commercial Bank Ltd • Habib Bank Ltd • Habib Bank A.G Zurich • Jamii Bora Bank Limited • K-Rep Bank Ltd • Middle East Bank (K) Ltd • Oriental Commercial Bank Ltd • Paramount Universal Bank Ltd • Trans-National Bank Ltd • UBA Kenya Bank Limited • Victoria Commercial Bank Ltd • Dubai Bank Kenya Ltd • Development Bank of Kenya Ltd • Equatorial Commercial Bank Ltd • First community Bank Limited • Fina Bank Ltd • Fidelity Commercial Bank Ltd • Gulf African Bank Limited This is the fake list that's been spreading on whatsapp and social media! For your info, charterhouse, Dubai were closed and Fina is no longer called fina! No need to spread rumors! @Mugwanja Who taught you English? You're right about the two banks,but what is wrong with the list? I said "Kenyans will be skeptical in these ones" Yes I copy pasted thar list, but I used my own words to convey my message. Read before you emotionally comment. Who doesn't know Kenyans are scared! I understand since yesterday you have been having "denial" defence mechanism. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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premio		#135 Posted : Wednesday, October 14, 2015 9:28:29 PM
Rank: Member Joined: 5/31/2009 Posts: 226		Well i guess i would be safer with the big 5 depositors at imperial bank are paying a heavy price
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whiteowl		#136 Posted : Wednesday, October 14, 2015 9:44:06 PM
Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove		gatoho wrote: enyands wrote: Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . If Da Vinci code is to be believed, Opus dei has an army so he is safe. Now for the shocker.. Anyone who tries to do something funny to the governer will be evaporated.
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Boris Boyka		#137 Posted : Wednesday, October 14, 2015 9:47:25 PM
Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here		This incident was a nice deccelorometer if such a word exists! We've taken shortest time to reach the current prices. Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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enyands		#138 Posted : Wednesday, October 14, 2015 9:55:29 PM
Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya		whiteowl wrote: gatoho wrote: enyands wrote: Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . If Da Vinci code is to be believed, Opus dei has an army so he is safe. Now for the shocker.. Anyone who tries to do something funny to the governer will be evaporated. Well Robert ouko was always doing right but he stepped on some toes unwillingly . He was evaporated.we need this guy though. It was prudent of him when he told treasury off that they can't raise the minimum deposit with cbk to 5b. Who the heck can do that and put ordinary jua kali guys seeking loan from micro finance first . I'm sure some other governors would get some send off package of 40 million in form of kickbacks and increase the limit .but so far he is doing good job.crack the whip sir
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alotoftalk		#139 Posted : Thursday, October 15, 2015 4:07:24 AM
Rank: Member Joined: 8/27/2015 Posts: 138 Location: Harare		What happens to the bond buyers from the recent issue? I am assuming since the bond process was not complete as it had not been listed; the "contract" was not fully established. Do they get refunded from the unused bond proceeds or they have to line up with the rest of the creditors and depositors? Investment philosophy development in progress...
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Mainat		#140 Posted : Thursday, October 15, 2015 6:22:12 AM
Rank: Veteran Joined: 11/21/2006 Posts: 1,590		Proceeds from the bond were already being put use last week alotoftalk wrote: What happens to the bond buyers from the recent issue? I am assuming since the bond process was not complete as it had not been listed; the "contract" was not fully established. Do they get refunded from the unused bond proceeds or they have to line up with the rest of the creditors and depositors? Sehemu ndio nyumba
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