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National Bank Group 1Q17
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Pesa Nane plans to be shilingi when he grows up.
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Rank: Member Joined: 8/14/2009 Posts: 244
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I am used to results which shows comparatives with similar period a year before. These ones are really trench
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Rank: Veteran Joined: 8/16/2009 Posts: 994
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Sooner or later, this one too may slide into loss making. This may be as early as this year. Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Gatheuzi wrote:Sooner or later, this one too may slide into loss making. This may be as early as this year. To imagine this nyani once stood tall at KES 71 per share, just a few years ago
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 8/14/2009 Posts: 244
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obiero wrote:Gatheuzi wrote:Sooner or later, this one too may slide into loss making. This may be as early as this year. To imagine this nyani once stood tall at KES 71 per share, just a few years ago I remember had this share and sold at KES 50 around yr 2007
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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The sh.3bn loan given to NBK by NSSF;it will be hard for NBK to repay based on it's weak business and statutory ratios Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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The National Bank of Kenya (NBK) won the Sh 2.1 Billion contract on digitalisation of the driving licences http://kenyanwallstreet....s-smart-driving-licencesWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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http://www.businessdaily...8926-t071giz/index.html
The woes in this bank never end Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Overdue for sale. Kept alive for corruption reasons only. Business opportunities are like buses,there's always another one coming
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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National Bank Kenya Considering Branch Closures to Cut CostsNational Bank of Kenya Ltd., which has the biggest bad-loan book in the Kenyan banking industry, is considering closing some of its 85 branches to cut costs, Chief Executive Officer Wilfred Musau said. Lenders in East Africa’s biggest economy are being forced to lower expenses after a government-imposed cap on commercial lending rates impaired their ability to provide loans and as consumers embrace digital banking, including Safaricom Ltd.’s M-Pesa platform. Banks have closed at least 39 branches and cut 1,620 jobs since the caps were announced in August 2016, according to Cytonn Investment Management Ltd., a Nairobi-based money manager. NBK will make a decision early in the second quarter on the number of outlets it will shut, Musau said Monday in an emailed response to questions. “This is a decision based on the strategic positioning and profitability of a branch,” Musau said. The lender cut 150 jobs last month. NBK, in which the Kenyan Treasury and the state-run National Social Security Fund own a 64 percent stake, had the worst non-performing loan book in Kenya in the third quarter at 44 percent of total loans, according to Cytonn. Co-Operative Bank of Kenya Ltd., the third-biggest Kenyan bank by market value, has the lowest ratio at 6.4 percent. NBK shares have dropped 12 percent this year, under-performing the Nairobi Securities Exchange All Share Index, which has risen 5.9 percent over the same period. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 6/1/2017 Posts: 288
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Ericsson wrote:National Bank Kenya Considering Branch Closures to Cut Costs
National Bank of Kenya Ltd., which has the biggest bad-loan book in the Kenyan banking industry, is considering closing some of its 85 branches to cut costs, Chief Executive Officer Wilfred Musau said.
Lenders in East Africa’s biggest economy are being forced to lower expenses after a government-imposed cap on commercial lending rates impaired their ability to provide loans and as consumers embrace digital banking, including Safaricom Ltd.’s M-Pesa platform. Banks have closed at least 39 branches and cut 1,620 jobs since the caps were announced in August 2016, according to Cytonn Investment Management Ltd., a Nairobi-based money manager.
NBK will make a decision early in the second quarter on the number of outlets it will shut, Musau said Monday in an emailed response to questions.
“This is a decision based on the strategic positioning and profitability of a branch,” Musau said. The lender cut 150 jobs last month.
NBK, in which the Kenyan Treasury and the state-run National Social Security Fund own a 64 percent stake, had the worst non-performing loan book in Kenya in the third quarter at 44 percent of total loans, according to Cytonn. Co-Operative Bank of Kenya Ltd., the third-biggest Kenyan bank by market value, has the lowest ratio at 6.4 percent.
NBK shares have dropped 12 percent this year, under-performing the Nairobi Securities Exchange All Share Index, which has risen 5.9 percent over the same period. As usual they will blame interest rate caps for their woes yet in reality its a corrupt management with bogus insider loans that have resulted in high NPLs that are really the problem Contrarian Investor and Trader.Advocate of free markets,limited government interference in the economy and sound money
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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slick wrote:Ericsson wrote:National Bank Kenya Considering Branch Closures to Cut Costs
National Bank of Kenya Ltd., which has the biggest bad-loan book in the Kenyan banking industry, is considering closing some of its 85 branches to cut costs, Chief Executive Officer Wilfred Musau said.
Lenders in East Africa’s biggest economy are being forced to lower expenses after a government-imposed cap on commercial lending rates impaired their ability to provide loans and as consumers embrace digital banking, including Safaricom Ltd.’s M-Pesa platform. Banks have closed at least 39 branches and cut 1,620 jobs since the caps were announced in August 2016, according to Cytonn Investment Management Ltd., a Nairobi-based money manager.
NBK will make a decision early in the second quarter on the number of outlets it will shut, Musau said Monday in an emailed response to questions.
“This is a decision based on the strategic positioning and profitability of a branch,” Musau said. The lender cut 150 jobs last month.
NBK, in which the Kenyan Treasury and the state-run National Social Security Fund own a 64 percent stake, had the worst non-performing loan book in Kenya in the third quarter at 44 percent of total loans, according to Cytonn. Co-Operative Bank of Kenya Ltd., the third-biggest Kenyan bank by market value, has the lowest ratio at 6.4 percent.
NBK shares have dropped 12 percent this year, under-performing the Nairobi Securities Exchange All Share Index, which has risen 5.9 percent over the same period. As usual they will blame interest rate caps for their woes yet in reality its a corrupt management with bogus insider loans that have resulted in high NPLs that are really the problem They need to retrace their steps and Musau is the best man for the job
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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http://kenyanwallstreet....ches-across-the-country
According to reports reaching us from reliable sources, National Bank of Kenya (NBK) is planning to close no fewer than ten of its branches in the coming weeks. This exercise, expected to be completed in the second quarter will lead to undisclosed number of job losses in addition to the recent early retirement exercise which targeted 150 employees aged above 35. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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https://www.businessdail...340510-l3ysve/index.htmlIn the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Angelica _ann wrote:https://www.businessdailyafrica.com/corporate/companies/National-Bank-boss-in-staff-sexual-assault-case/4003102-4340510-l3ysve/index.html Sad if true. Kicking of the landing area, punching of the holding grounds.. Sad
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,699 Location: NAIROBI
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Wonders never cease to amaze at this bank Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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Ericsson wrote:Wonders never cease to amaze at this bank The unfolding tale of national bank is one painful soap opera to watch. now in its Nth season... Start!
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Rank: Chief Joined: 1/3/2007 Posts: 18,107 Location: Nairobi
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Another successful GoK controlled firm. #Sarcastica Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,107 Location: Nairobi
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Yikes! https://www.businessdail...340510-l3ysve/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,520 Location: nairobi
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Mzee bwana. This thing was shared here yesterday!!! But guess the details are forever shocking
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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