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14 Pages«<910111213>»
Potential merger NIC + CBA
VituVingiSana
#201 Posted : Tuesday, January 21, 2020 9:48:59 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#202 Posted : Wednesday, January 22, 2020 6:49:17 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,893
Location: Enk are Nyirobi
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.
Life is short. Live passionately.
Angelica _ann
#203 Posted : Thursday, January 23, 2020 11:03:20 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,705
sparkly wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.


What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes.

Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
sparkly
#204 Posted : Sunday, January 26, 2020 4:32:32 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,893
Location: Enk are Nyirobi
Angelica _ann wrote:
sparkly wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.


What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes.

Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends smile


- Or maybe more aggressive in recovery. Remember they are heavy on asset finance.

- DY is crap but capital gains ok, as long as your buy in 20-30 range and sell in 40-50 range

Life is short. Live passionately.
heri
#205 Posted : Tuesday, April 21, 2020 11:46:39 AM
Rank: Member


Joined: 9/14/2011
Posts: 778
Location: nairobi
so apparently no dividends
Ericsson
#206 Posted : Tuesday, April 21, 2020 4:16:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,876
Location: NAIROBI
heri wrote:
so apparently no dividends

Who said
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
heri
#207 Posted : Tuesday, April 21, 2020 5:36:01 PM
Rank: Member


Joined: 9/14/2011
Posts: 778
Location: nairobi
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said


Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
VituVingiSana
#208 Posted : Wednesday, April 22, 2020 5:49:49 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
xxxxx
#209 Posted : Wednesday, April 22, 2020 6:00:48 PM
Rank: Member


Joined: 3/20/2008
Posts: 502
VituVingiSana wrote:
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.


They should sell their bonus sharesLaughing out loudly Laughing out loudly smile . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
VituVingiSana
#210 Posted : Wednesday, April 22, 2020 8:24:34 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
xxxxx wrote:
VituVingiSana wrote:
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.


They should sell their bonus sharesLaughing out loudly Laughing out loudly smile . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
Laughing out loudly Laughing out loudly Laughing out loudly But there is no significant difference. Why even give bonus shares? Just sell existing shares.

Just an example:
Assume NCBA has 100,000 shares

1000 shares = 1% shareholding
1,100 (after bonus) = 1% shareholding (of 110,000 shares)

In both the above cases, the shareholder can sell some (100) of his shares for cash. The bonus is a waste of time.

1000-100 = 900 shares = 0.9% shareholding (of 100,000 shares)
1,100 - 100 = 1,000 shares = 0.91% shareholding (of 110,000 shares)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Horton
#211 Posted : Wednesday, April 22, 2020 9:59:00 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,538
Location: Nairobi
VituVingiSana wrote:
xxxxx wrote:
VituVingiSana wrote:
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.


They should sell their bonus sharesLaughing out loudly Laughing out loudly smile . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
Laughing out loudly Laughing out loudly Laughing out loudly But there is no significant difference. Why even give bonus shares? Just sell existing shares.

Just an example:
Assume NCBA has 100,000 shares

1000 shares = 1% shareholding
1,100 (after bonus) = 1% shareholding (of 110,000 shares)

In both the above cases, the shareholder can sell some (100) of his shares for cash. The bonus is a waste of time.

1000-100 = 900 shares = 0.9% shareholding (of 100,000 shares)
1,100 - 100 = 1,000 shares = 0.91% shareholding (of 110,000 shares)



There is a roughly 8/- EPS for a 28/- stock. Still looks good in the grand scheme of things.
Ericsson
#212 Posted : Wednesday, April 22, 2020 11:16:27 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,876
Location: NAIROBI
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?

Yes
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#213 Posted : Thursday, April 23, 2020 9:39:15 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?

Yes
How?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#214 Posted : Thursday, April 23, 2020 1:16:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,876
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
[quote=VituVingiSana]Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?

Yes
How?
[/quote
The first to cancel FY cash dividends
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Angelica _ann
#215 Posted : Thursday, April 23, 2020 2:25:03 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,705
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
[quote=VituVingiSana]Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?

Yes
How?
[/quote
The first to cancel FY cash dividends


Probably based on Opus Dei opinion/advisory/directive on shareholder's approval of dividends before payment.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
VituVingiSana
#216 Posted : Thursday, April 23, 2020 3:39:27 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?

Yes
How?

The first to cancel FY cash dividends
The thread was discussing auctions and loans not dividends. Laughing out loudly Laughing out loudly Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Gadaffi
#217 Posted : Tuesday, May 12, 2020 7:10:17 PM
Rank: Member


Joined: 2/13/2011
Posts: 283
Location: Nairobi
Is the counter still trading cum bonus?
heri
#218 Posted : Thursday, June 04, 2020 10:28:58 AM
Rank: Member


Joined: 9/14/2011
Posts: 778
Location: nairobi
Were the bonus shares credited ?
kmucheke
#219 Posted : Thursday, June 04, 2020 12:06:03 PM
Rank: Member


Joined: 3/16/2019
Posts: 174
Bank of Uganda (BoU) gives go ahead to NC , CBA merger

Quote:
“BoU has issued a letter of no objection to the proposed business [merger] of NC Bank and Commercial Bank of Africa,” the notice signed by Mr Sam Ntulume, the NC Bank managing director and Mr Anthony Ndegwa, the CBA chief executive officer, reads in part.


Quote:
The merger is expected to give the two banks an edge that is likely to build a relatively large financial base.

NC Bank recovered from a Shs4.3b loss for the period ended December 2018 to post Shs3b in profits in 2019 while CBA made a loss of Shs10.4b in 2019 from a Shs567m profit in 2018.

NC Bank is a subsidiary of the National Industrial Credit Bank (NIC).
VituVingiSana
#220 Posted : Thursday, June 04, 2020 7:58:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,215
Location: Nairobi
kmucheke wrote:
Bank of Uganda (BoU) gives go ahead to NC , CBA merger

Quote:
“BoU has issued a letter of no objection to the proposed business [merger] of NC Bank and Commercial Bank of Africa,” the notice signed by Mr Sam Ntulume, the NC Bank managing director and Mr Anthony Ndegwa, the CBA chief executive officer, reads in part.


Quote:
The merger is expected to give the two banks an edge that is likely to build a relatively large financial base.

NC Bank recovered from a Shs4.3b loss for the period ended December 2018 to post Shs3b in profits in 2019 while CBA made a loss of Shs10.4b in 2019 from a Shs567m profit in 2018.

NC Bank is a subsidiary of the National Industrial Credit Bank (NIC).
The joint entity will remain much smaller than Stanbic (UG) and dfcu.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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