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33 Pages<12345>»
Chase Bank loss...another case of cooking the books?
poundfoolish
#41 Posted : Wednesday, April 06, 2016 12:30:23 PM
Rank: Elder


Joined: 12/2/2009
Posts: 2,416
Location: Nairobi
A lot of lies doing rounds around the world before the truth catches up as well..

Banks cannibalising each other.
Some of this rumours originating from CBK employees as well.

Too much going on. Might just end up as a ploy to fix the governor
ecstacy
#42 Posted : Wednesday, April 06, 2016 12:39:39 PM
Rank: Elder


Joined: 2/26/2008
Posts: 4,433
"On Chase Bank, CBK Governor urges the public to ignore the rumors on Social Media"
lochaz-index
#43 Posted : Wednesday, April 06, 2016 12:59:19 PM
Rank: Member


Joined: 9/18/2014
Posts: 562
Sufficiently Philanga....thropic wrote:
By the way, the strong USD has caused a lot of pain and grief to net importer nations as well as commodity rich ones.
Before the USD took off, cbr and inflation rate would be at the same levels or thereabout. For the longest, we had our cbr at 6.25% which is where i believe we should have been now that inflation rate is at 6.45%. but not possible since we have the Eurobond to pay and Gov.Njoroge has to continue punishing us by leaving the cbr at 11.50 so as to tame this USD monster and keep it below 107.
At times i wonder if small banks like chase had branches in South sudan where Equity and KCb each took a 6b shaving from the SSP devaluation. Would they have lived to tell the story?

I also don't expect the cbr to change in the meantime. The governor knows his craft and he expects an even stronger usd(precautionary loan taken to aid on that front) not to mention that he is an inflation freak.

Apparently we are conducting a roadshow to test the waters for the second eurobond as the guinea pigs for other African states. I can't see this ending well. Dollar shortage is real and it is not a problem we would want to have.

On matters ssp, it hit 48 at one point and is currently at about 28, what was the rate used by banks to account for the devaluation? Compounding matters is the discrepancy between the official rate and the black market.
The main purpose of the stock market is to make fools of as many people as possible.
ZZE123
#44 Posted : Wednesday, April 06, 2016 1:47:29 PM
Rank: Elder


Joined: 6/21/2008
Posts: 2,280
Resignations happening??
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
Plimsoul
#45 Posted : Wednesday, April 06, 2016 2:01:29 PM
Rank: Member


Joined: 3/3/2016
Posts: 132
maka
#46 Posted : Wednesday, April 06, 2016 2:11:32 PM
Rank: Elder


Joined: 4/22/2010
Posts: 9,354
Location: Nairobi
ZZE123 wrote:
Resignations happening??



Heard that Kabui and Khan....flimsy source lakini...wait for it.

http://nairobitech.blogs...and-group-md-resign.html
possunt quia posse videntur
ZZE123
#47 Posted : Wednesday, April 06, 2016 2:20:27 PM
Rank: Elder


Joined: 6/21/2008
Posts: 2,280
maka wrote:
ZZE123 wrote:
Resignations happening??


Heard that Kabui and Khan....flimsy source lakini...wait for it.

http://nairobitech.blogs...nd-group-md-resign.html

I thought Khan was the owner??
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
tandich
#48 Posted : Wednesday, April 06, 2016 2:23:32 PM
Rank: Member


Joined: 5/6/2008
Posts: 28
No one is talking about their Tier 1 Capital Ratio below regulatory minimum. It's been in the public domain all along
alma1
#49 Posted : Wednesday, April 06, 2016 2:27:40 PM
Rank: Veteran


Joined: 9/19/2015
Posts: 1,241
Location: hapo
Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business.
Hapa ukora tu
maka
#50 Posted : Wednesday, April 06, 2016 2:37:35 PM
Rank: Elder


Joined: 4/22/2010
Posts: 9,354
Location: Nairobi
alma1 wrote:
Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business.


Before you firefight one rumour you are bombarded by 10 more...what do you deal with first?At the same time whatsapp messages...texts.
possunt quia posse videntur
timuka
#51 Posted : Wednesday, April 06, 2016 2:41:58 PM
Rank: Member


Joined: 1/21/2013
Posts: 427
alma1
#52 Posted : Wednesday, April 06, 2016 2:49:31 PM
Rank: Veteran


Joined: 9/19/2015
Posts: 1,241
Location: hapo
maka wrote:
alma1 wrote:
Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business.


Before you firefight one rumour you are bombarded by 10 more...what do you deal with first?At the same time whatsapp messages...texts.


It seems these rumors are turning out to be true after all....9 more to go.
Hapa ukora tu
timuka
#53 Posted : Wednesday, April 06, 2016 2:51:11 PM
Rank: Member


Joined: 1/21/2013
Posts: 427
winmak
#54 Posted : Wednesday, April 06, 2016 3:09:37 PM
Rank: Member


Joined: 12/1/2007
Posts: 162
Location: Nakuru
So, is there any safe bank? These tier 3s are treading on shaky ground...
For investors as a whole, returns decrease as motion increases ~ WB
maka
#55 Posted : Wednesday, April 06, 2016 3:25:03 PM
Rank: Elder


Joined: 4/22/2010
Posts: 9,354
Location: Nairobi
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...


KCB
possunt quia posse videntur
muganda
#56 Posted : Wednesday, April 06, 2016 3:50:15 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,631
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...

The very 'respectable' CNyakundi is on the trail...
imminent collapse, 6b loss, siphoning, etc.

http://cnyakundi.com/201...e-move-your-money-asap/

murchr
#57 Posted : Wednesday, April 06, 2016 4:07:38 PM
Rank: Elder


Joined: 2/26/2012
Posts: 10,437
muganda wrote:
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...

The very 'respectable' CNyakundi is on the trail...
imminent collapse, 6b loss, siphoning, etc.

http://cnyakundi.com/201...e-move-your-money-asap/



? Really?

Can you all calm down and wait for a word from the CBK
"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
.
innairobi
#58 Posted : Wednesday, April 06, 2016 4:22:34 PM
Rank: Member


Joined: 9/2/2010
Posts: 699
muganda wrote:
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...

The very 'respectable' CNyakundi is on the trail...
imminent collapse, 6b loss, siphoning, etc.

http://cnyakundi.com/201...e-move-your-money-asap/



haha. the 'bidco man' cnyakundi.com amepata some legit news finally. such websites and the likes of kenya-today.com, kenya-post.com, and sijui kahawa tungu are ones you only visit while wearing 50 condoms.
Africans need to ask the fundamental question 'Why?' more often
muganda
#59 Posted : Wednesday, April 06, 2016 4:25:33 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,631
murchr wrote:
muganda wrote:
winmak wrote:
So, is there any safe bank? These tier 3s are treading on shaky ground...

The very 'respectable' CNyakundi is on the trail...
imminent collapse, 6b loss, siphoning, etc.

http://cnyakundi.com/201...e-move-your-money-asap/



? Really?

Can you all calm down and wait for a word from the CBK

As we wait for word from the CBK...

• I note Chase Bank and National Bank share the same auditor, Deloitte.

• Seems the challenge in banking will always remain the extent to which insiders (owners/directors) fund their other businesses with customer deposits – 10.5bn in this case


Feels exaggerated, should maybe read 'is the major shareholder'
murchr
#60 Posted : Wednesday, April 06, 2016 4:29:39 PM
Rank: Elder


Joined: 2/26/2012
Posts: 10,437
Actually sit tight, all banks are under the microscope. If we can have a list of what they listed as their NPL vs what will be coming out in the near future. Chase listed 2.5Bn, Actual 11Bn. By the time they start dishing out Q1 things will be hot

"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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