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14 Pages«<121314
Potential merger NIC + CBA
Ericsson
#261 Posted : Thursday, September 17, 2020 10:36:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,102
Location: NAIROBI
sparkly wrote:
watesh wrote:
Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much.


I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service.


Heard there is mistreatment of customers who were formerly at NIC.
For example fictitious deductions if you had a credit facility with NIC.
Terms also been changed for account holders
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
maka
#262 Posted : Friday, September 18, 2020 9:53:13 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,365
Location: Nairobi
Ericsson wrote:
sparkly wrote:
watesh wrote:
Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much.


I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service.


Heard there is mistreatment of customers who were formerly at NIC.
For example fictitious deductions if you had a credit facility with NIC.
Terms also been changed for account holders



True... I banked with NIC ... Naona kivumbi aisee .....
possunt quia posse videntur
Ericsson
#263 Posted : Saturday, October 03, 2020 5:19:37 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,102
Location: NAIROBI
https://www.standardmedi...aults-increase-fourfold

Mshwari defaults increase four fold
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
kmucheke
#264 Posted : Sunday, October 11, 2020 6:08:53 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
maka wrote:
Ericsson wrote:
sparkly wrote:
watesh wrote:
Every week I see new negative sentiments about this bank consistently on social media. The main issues are on basic functionality of things and money disappearing in accounts. A year later with the same issues, management doesnt seem to care that much.


I attended the virtual agm. Management admitted that there were hiccups in the integration process which affected customer service.


Heard there is mistreatment of customers who were formerly at NIC.
For example fictitious deductions if you had a credit facility with NIC.
Terms also been changed for account holders



True... I banked with NIC ... Naona kivumbi aisee .....


The Nation confirms all the above accounts and more.
LINK

Quote:

... there is a storm in NCBA’s online platforms. Under every post the bank makes, there are often customers complaining of one inconvenience or another; be it a failed ATM withdrawal, slow customer care response, non-responsive systems among others. Others are blunt enough to write that the merger reduced the quality of service they used to enjoy.

Mr Gachora admits that there are issues, and most of them are to do with merging of the banking systems. Over the past few weeks, he says, the group has been merging customer details. Initially, the core banking systems existed separately and were inter-connected with a bridging software. While the bridging worked, he says, it did not offer access to all data, and it was not uncommon for a former CBA customer to be referred to an NIC branch.

“We wanted to take away that noise by having one uniform experience for our customers. That is why we decided to merge our systems, almost a year down the line,” he says.

“Now, merging two banking systems is very difficult,” adds Mr Gachora . The works done so far, he notes, have ensured seamless operation of branches but there is still more to do.

“Mobile banking was unstable for a while; now I think we’ve got everything stable,” he says.

“What has really taken time to work is online banking. And the reason that has taken time to work is that what we did was to combine all the customers onto one online banking platform; whether you are ex-CBA or ex-NIC. And what we have found is that the capacity tripled; or the required capacity tripled. And that is causing a lot of problems.”
kmucheke
#265 Posted : Thursday, October 29, 2020 5:25:48 PM
Rank: Member


Joined: 3/16/2019
Posts: 227
RIEK01
#266 Posted : Thursday, October 29, 2020 6:05:56 PM
Rank: New-farer


Joined: 2/8/2018
Posts: 72
Clueless MD playing PR....
Balaa
#267 Posted : Thursday, October 29, 2020 8:14:00 PM
Rank: Member


Joined: 7/6/2018
Posts: 164
Location: Kinshasa


Why don't they hire the hacker students?Laughing out loudly
Very unresponsive company. Keeps running customer surveys but never improves on its services. Bure kabisa!
If it don't make dollars, it don't make sense
kmucheke
#268 Posted : Friday, October 30, 2020 8:17:06 AM
Rank: Member


Joined: 3/16/2019
Posts: 227
Balaa wrote:


Why don't they hire the hacker students?Laughing out loudly
Very unresponsive company. Keeps running customer surveys but never improves on its services. Bure kabisa!


Safaricom rewards ethical hackers if they can find bugs in there products. So what you are you saying is not far fetched.Applause
NCBA should follow suit since no system is invincible.

LINK

Quote:
If you believe you have found a security vulnerability on any of Safaricom’s products or services, we encourage you to let us know right away. We will investigate all legitimate reports and do our best to quickly fix the problem. Please email findings to bugbounty@safaricom.co.ke.

Please be aware we do not permit any reports to be publicly disclosed.

Should your submission be valid and impactful, we may invite you to join our private Bug Bounty Program on HackerOne.


kmucheke
#269 Posted : Monday, November 02, 2020 8:54:42 AM
Rank: Member


Joined: 3/16/2019
Posts: 227
Tough times for bankers as NCBA draws first blood

Quote:
NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.

“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.

The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.


Ericsson
#270 Posted : Monday, November 02, 2020 10:19:09 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,102
Location: NAIROBI
kmucheke wrote:
Tough times for bankers as NCBA draws first blood

Quote:
NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.

“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.

The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.



Expect disappointing Q3 and Q4 results.
Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
watesh
#271 Posted : Monday, November 02, 2020 11:20:02 AM
Rank: Member


Joined: 8/10/2014
Posts: 849
Location: Kenya
kmucheke wrote:
Tough times for bankers as NCBA draws first blood

Quote:
NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.

“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.

The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.




Stock price already tanking
VituVingiSana
#272 Posted : Monday, November 02, 2020 6:15:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,314
Location: Nairobi
Ericsson wrote:
kmucheke wrote:
Tough times for bankers as NCBA draws first blood

Quote:
NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.

“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.

The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.



Expect disappointing Q3 and Q4 results.
Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank.
I am surprised he wasn't axed after the merger. NIC has performed poorly under him. When he came in there were major NPLs taken to give him somewhat of a clean slate.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#273 Posted : Tuesday, November 03, 2020 7:53:47 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,102
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
kmucheke wrote:
Tough times for bankers as NCBA draws first blood

Quote:
NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

Mr Gachora said the uncertainty surrounding the pandemic has also forced them to reorganise its business model, with unspecified number of employees expected to go home in the next two months.

“Today, I announce that we are embarking on a process to reorganise our workforce which will result in reduction of staff headcount,” said Gachora in a statement to employees.

The re-organisation will be done in two-folds, with the first phase entailing a voluntary exit programme (VEP) which will see employees who wish to exit the company to do so with a benefits package.

In the second phase, whose outcome will depend on the VEP, workers will be declared redundant.



Expect disappointing Q3 and Q4 results.
Aside from COVID-19 pandemic effects the bad loans it inherited from NIC is weighing heavily on the bank.
I am surprised he wasn't axed after the merger. NIC has performed poorly under him. When he came in there were major NPLs taken to give him somewhat of a clean slate.



Can't be axed with reasons only known to them.
Problems started during the reign of James Macharia who is now CS Infrastructure.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#274 Posted : Tuesday, November 03, 2020 8:34:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,102
Location: NAIROBI
NCBA Quarterly performance in 2020
Q1--2.46bn
Q2--1.45bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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