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3 Pages<123
KCB and NBK material announcement
Ericsson
#41 Posted : Tuesday, April 23, 2019 3:56:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,563
Location: NAIROBI
VituVingiSana wrote:
HaMaina wrote:
KaunganaDoDo wrote:
Ericsson wrote:
KCB intends to acquire 100% of the ordinary shares with a par value of Ksh.5 of National Bank of Kenya.
The offer shall be a way of a share swap of 10 ordinary shares of NBK shares for every 1 ordinary share of KCB.


Is a good deal for both KCB and NBK....Though its the NBK shareholders to laugh all the way to the bank...KCB will have to recapitalize by way off injecting new Capital into NBK...Its a winner takes all. With new capital, and increased deposits through GOVERNMENT SINGLE TREASURY ACCOUNT, NBK will lend and lend and lend ....

It would have been nice if Safaricom had taken the initiative and purchased NBK, that would definitely have given Equity and Equitel a run for their money.
Why buy NBK with its myriad problems that would be expensive to solve? If Safaricom wants to buy a bank, it should go for one that is relatively clean. Hit the ground running.


Let them buy a telco if looking for an acquisition
mlennyma
#42 Posted : Wednesday, April 24, 2019 1:28:04 PM
Rank: Elder


Joined: 7/21/2010
Posts: 5,935
Location: nairobi
The monkey being bought is rejoicing upwards,the elephant buying is sinking downwards.
"Don't let the fear of losing be greater than the excitement of winning."
KaunganaDoDo
#43 Posted : Wednesday, April 24, 2019 1:39:13 PM
Rank: Member


Joined: 8/6/2018
Posts: 139
mlennyma wrote:
The monkey being bought is rejoicing upwards,the elephant buying is sinking downwards.


Monkeys are lighter than elephants.
VituVingiSana
#44 Posted : Thursday, April 25, 2019 7:28:22 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,699
Location: Nairobi
In my early days I rejoiced when markets rose. Then I read Ben Grahams The Intelligent Investor & Chapter 8 dealing with how investors should view fluctuations in stock prices. Since then, low prices became my friend. Picking that book was the luckiest moment in my life

- Warren Buffett
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#45 Posted : Thursday, April 25, 2019 3:20:22 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,563
Location: NAIROBI
KaunganaDoDo wrote:
mlennyma wrote:
The monkey being bought is rejoicing upwards,the elephant buying is sinking downwards.


Monkeys are lighter than elephants.



Elephant up monkey down today
Pesa Nane
#46 Posted : Tuesday, May 07, 2019 9:58:39 AM
Rank: Elder


Joined: 5/25/2012
Posts: 4,063
Location: 08c

Pesa Nane plans to be shilingi when he grows up.
Ericsson
#47 Posted : Tuesday, May 07, 2019 10:26:12 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,563
Location: NAIROBI
Pesa Nane wrote:




Acquisition is expected to close by end of July
Ericsson
#48 Posted : Thursday, May 09, 2019 1:27:36 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,563
Location: NAIROBI
NBK to operate for one year after merger with KCB

National Bank of Kenya will be operational for a year if the merger deal with Kenya Commercial Bank goes through, the latter's chief executive Josua Oigara said late on Friday.

In April, KCB Group Plc declared its intention acquire 100 per cent stake of National Bank of Kenya through a share swap deal, comprising of 10 ordinary shares of NBK for every 1 ordinary share of KCB.

Oigara welcomed the ongoing consolidations in the Kenyan banking sector.

“I am a big fan for the ongoing mergers and acquisitions because it is better for banks to operate in large entities in assets value than small ones,” Oigara said.

KCB is also planning to open a representative office in China, to take advantage of growing trade links between East Africa and China, he said.

The requirement to establish such entity is about one trillion in asset base.

The entry may come after consolidation with NBK after which the bank currently with Sh714.3 billion in total assets as per its 2018 financial results will have the muscle for entry.

“It is very expensive to open a bank in such country but we are still geared to have a representative office there,” he said.

The bank’s offices will facilitate deals in syndicated lending, specialised, project and trade finance.

While there are no Kenyan banks' representative offices in other countries, there are at least eight representative offices of foreign banks in the country.

He said KCB plans to buy a bank in Rwanda and one in the Democratic Republic of the Congo (DRC).

Oigara did not reveal the identity of the two banks the lender is considering acquiring or the timeframe.

Kenyan banks have announced several deals since the government capped commercial lending rates in 2016, crimping their profit margins and forcing them to look for survival strategies, including consolidation.

https://www.the-star.co....r-after-merger-with-kcb/
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