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Chase Bank loss...another case of cooking the books?
KulaRaha
#1 Posted : Thursday, March 31, 2016 9:21:06 AM
Rank: Elder


Joined: 7/26/2007
Posts: 5,819
What were Q3 results?

Where did they get caught by the auditors?
Business opportunities are like buses,there's always another one coming
watesh
#2 Posted : Thursday, March 31, 2016 11:36:01 AM
Rank: Member


Joined: 8/10/2014
Posts: 556
Location: Kenya
Ksh849 million in losses woi...massive rise in non performing loans...
Ethiteri
#3 Posted : Thursday, March 31, 2016 12:07:59 PM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
watesh wrote:
Ksh849 million in losses woi...massive rise in non performing loans...



Most banks have had good chefs to do the books but this Opus Dei fellow has not allowed any cooking this time round.

He is sweeping clean this banking sector.Expect more turbulence in the coming days.

Meanwhile.....Chase bond holders wataumia.
guru267
#4 Posted : Thursday, March 31, 2016 12:33:12 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,585
Location: Nairobi
Something is also cooking at HFC. They have never been the last to announce! Pray
Mark 12:29
Deuteronomy 4:16
Impunity
#5 Posted : Thursday, March 31, 2016 12:34:07 PM
Rank: Elder


Joined: 3/2/2009
Posts: 25,129
Location: Masada
This is after pocketing the 781M Y-iguru loot...the loss could have been 1.6B and over.
Portfolio: KQ 6,200
You know you've made it when you get a parking space for your yatcht.

watesh
#6 Posted : Thursday, March 31, 2016 1:18:57 PM
Rank: Member


Joined: 8/10/2014
Posts: 556
Location: Kenya
Impunity wrote:
This is after pocketing the 781M Y-iguru loot...the loss could have been 1.6B and over.

Laughing out loudly Laughing out loudly Laughing out loudly and 200M Youth Fund loot and many other not busted
jerry
#7 Posted : Thursday, March 31, 2016 1:24:08 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,561
guru267 wrote:
Something is also cooking at HFC. They have never been the last to announce! Pray

Are they supposed to report by end of today or they have their own rules?
The opposite of courage is not cowardice, it's conformity.
rutechura
#8 Posted : Thursday, March 31, 2016 1:42:57 PM
Rank: Hello


Joined: 1/7/2016
Posts: 8
jerry wrote:
guru267 wrote:
Something is also cooking at HFC. They have never been the last to announce! Pray

Are they supposed to report by end of today or they have their own rules?



Actually, Housing Finance have already announced there results. there profit rose from 975 million to 1.2 billion.. which is not bad
mlennyma
#9 Posted : Thursday, March 31, 2016 1:45:37 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,469
Location: nairobi
rutechura wrote:
jerry wrote:
guru267 wrote:
Something is also cooking at HFC. They have never been the last to announce! Pray

Are they supposed to report by end of today or they have their own rules?



Actually, Housing Finance have already announced there results. there profit rose from 975 million to 1.2 billion.. which is not bad

you mean Q1 2016?
"Don't let the fear of losing be greater than the excitement of winning."
Ethiteri
#10 Posted : Thursday, March 31, 2016 2:06:56 PM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
mlennyma wrote:
rutechura wrote:
jerry wrote:
guru267 wrote:
Something is also cooking at HFC. They have never been the last to announce! Pray

Are they supposed to report by end of today or they have their own rules?



Actually, Housing Finance have already announced there results. there profit rose from 975 million to 1.2 billion.. which is not bad

you mean Q1 2016?




Eish!

Results being published now are for year ended 2015 and today is the deadline for reporting.

Q1 results will start to trickle in next month.
KenyanEconomist
#11 Posted : Thursday, March 31, 2016 3:29:21 PM
Rank: New-farer


Joined: 5/7/2014
Posts: 40
KulaRaha wrote:
What were Q3 results?

Where did they get caught by the auditors?


They went from a Q3 2015 Net Profit of 2.3bn to a Full Year 2015 loss of 849m?? A +3.1bn swing! Biggest jump was Loan Loss proivisions (From 439m to 2.1bn)...
maka
#12 Posted : Thursday, March 31, 2016 3:38:27 PM
Rank: Elder


Joined: 4/22/2010
Posts: 9,909
Location: Nairobi
KenyanEconomist wrote:
KulaRaha wrote:
What were Q3 results?

Where did they get caught by the auditors?


They went from a Q3 2015 Net Profit of 2.3bn to a Full Year 2015 loss of 849m?? A +3.1bn swing! Biggest jump was Loan Loss proivisions (From 439m to 2.1bn)...


I swear ni kubaya....
possunt quia posse videntur
muganda
#13 Posted : Thursday, March 31, 2016 4:00:17 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,695
Shocking...
even K-Rep reported a loss and change of name
guru267
#14 Posted : Thursday, March 31, 2016 4:13:11 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,585
Location: Nairobi
rutechura wrote:
jerry wrote:
guru267 wrote:
Something is also cooking at HFC. They have never been the last to announce! Pray

Are they supposed to report by end of today or they have their own rules?



Actually, Housing Finance have already announced there results. there profit rose from 975 million to 1.2 billion.. which is not bad


My Bad! Somehow I missed them.

HFC did well... Happy to continue being a shareholder there~
Mark 12:29
Deuteronomy 4:16
mlennyma
#15 Posted : Thursday, March 31, 2016 4:19:06 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,469
Location: nairobi
maka wrote:
KenyanEconomist wrote:
KulaRaha wrote:
What were Q3 results?

Where did they get caught by the auditors?


They went from a Q3 2015 Net Profit of 2.3bn to a Full Year 2015 loss of 849m?? A +3.1bn swing! Biggest jump was Loan Loss proivisions (From 439m to 2.1bn)...


I swear ni kubaya....

kwani watu hawalipi loans and the way banks take small men round round only to give big fish who are a majority defaulters
"Don't let the fear of losing be greater than the excitement of winning."
faa
#16 Posted : Thursday, March 31, 2016 4:25:58 PM
Rank: Member


Joined: 5/8/2007
Posts: 656
there is no loss,

its pure cooking the books to report a loss, whereas in real sense they have made billions.

either to not pay taxes or just for some reasons.

Ericsson
#17 Posted : Thursday, March 31, 2016 4:50:42 PM
Rank: Elder


Joined: 12/4/2009
Posts: 3,261
Location: NAIROBI
Dr Opus Dei Patrick Njoroge is not joking.
Some banks will close down or be acquired by the big ones.
Oigara has been quoted as saying KCB is looking for an acquisition locally
enyands
#18 Posted : Thursday, March 31, 2016 5:27:43 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,232
Location: kenya
Ericsson wrote:
Dr Opus Dei Patrick Njoroge is not joking.
Some banks will close down or be acquired by the big ones.
Oigara has been quoted as saying KCB is looking for an acquisition locally



I love this guy. We need such people in this country . Problem is that and i said before , he will step on some mafias and they will fire him. That's the day I'll know for sure the country has gone to the dogs .let's have a fair play where everyone is honest and play by the same rule . I think he should also come down on this bank called CREDIT BANK before it's sold to innocent diaspora .
streetwise
#19 Posted : Thursday, March 31, 2016 5:31:32 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,739
Location: Nairobi
Is credit bank is still opening for business nowdays. I feel there is something cooking
Ericsson
#20 Posted : Thursday, March 31, 2016 6:01:16 PM
Rank: Elder


Joined: 12/4/2009
Posts: 3,261
Location: NAIROBI
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