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NBK Profits drop
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Sober
#1 Posted : Monday, May 23, 2011 9:58:29 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
While others are recording double digit results these ones can't even defend the position.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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VituVingiSana
#2 Posted : Monday, May 23, 2011 10:15:29 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,221
Location: Nairobi
Well... I am sure some banks have 'hidden' losses from Bond Trading i.e. they bought Bonds to re-sell but now prices have dropped so they are 'hidden' in the Hold To Maturity pile.

Instead of lending these funds at 15%+, they will get only 5-12% on them. If they sell them, then they may have to take losses!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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maka
#3 Posted : Tuesday, May 24, 2011 8:43:36 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
@vvs i agree with you revaluation has really hit most banks and if the truth of what they are holding is put to the fore it will be shocking NBK has done well to point out where the problem is and probably when they realign their books the outcome might be totally different.
possunt quia posse videntur
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VituVingiSana
#4 Posted : Tuesday, May 24, 2011 8:55:32 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,221
Location: Nairobi
http://www.businessdaily.../-/67kdnjz/-/index.html
NBK is not the only one...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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