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National Bank FY 2014 results profit before tax down 28%
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VituVingiSana
#51 Posted : Wednesday, June 24, 2015 4:07:35 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
xxxxx wrote:
kizee1 wrote:
oltome wrote:
Things are thick in NBK! @siringi and mkonomtupu should do some research before payukaing


yes

its not very hard to analyze financial statements,when a bank is below TWO key statutory ratios how can one deduce that all is well?


I believe the two key statutory ratios being adverse is a result of significant growth in loans and deposits coupled with delays in the recapitalization by govt/nssf via the rights issue. How is that a bad thing?

Did anyone catch their defence on citizen news night? How was it??


Well, if it was any other 'private' bank e.g. Barclays, I&M, NIC, StanChart... CBK would have come down on them like a ton of bricks. No sympathy for them unlike NBK.

BTW, the breaching of the Capital Ratios is for the UNAUDITED results. I wonder how bad the ratios would be if the accounts were AUDITED.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#52 Posted : Wednesday, June 24, 2015 4:12:35 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Mart_Consult
#53 Posted : Wednesday, June 24, 2015 7:50:23 PM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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Cde Monomotapa
#54 Posted : Wednesday, June 24, 2015 8:09:28 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Mart_Consult wrote:
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...


It was TN Bank & TEDCO Ltd. now Steward Bank, ZW.
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innairobi
#55 Posted : Thursday, June 25, 2015 4:25:26 AM
Rank: Member

Joined: 9/2/2010
Posts: 845
VituVingiSana wrote:
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.


Not the financials. Its specific bank accounts. Insider loans if I read well. NSSF and GoK are not seeing eye to eye on the matter so GoK's stake of I think some 20-somthing percent cant do much.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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kizee1
#56 Posted : Thursday, June 25, 2015 8:56:15 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
innairobi wrote:
VituVingiSana wrote:
innairobi wrote:
obiero wrote:
innairobi wrote:
obiero wrote:
National Bank re-crumbling.. www.nation.co.ke/news/Na...6/-/s98ugvz/-/index.html


Story doesnt add up. How does NBK refusing to provide accounts to the Treasury become an issue? There is more than one way for the government to obtain that info e.g. through CBK.

@innairobi i think u meant through the courts


CBK as supervisor of all commercial banks can surely do an impromptu audit and demand the accounts in the process?
Huh? Why would NBK not provide the accounts to Treasury which owns a huge chunk of NBK. As is NBK publishes the results quarterly so those for 1Q should be available.


Not the financials. Its specific bank accounts. Insider loans if I read well. NSSF and GoK are not seeing eye to eye on the matter so GoK's stake of I think some 20-somthing percent cant do much.



LOL GoK can have 0% stake but they can do a lot, lesson here is never fight the government of the day,
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Cde Monomotapa
#57 Posted : Wednesday, July 01, 2015 10:28:08 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
@Ericsson @Mart_ Should guarantee* foot traffic? The shops need a thorough makeover. Would really like to see how they manage the two brands in one.

Jamii Bora Bank To Open Branches in Uchumi Shops http://www.fountainnews....anches-in-uchumi-shops/

Cde Monomotapa wrote:
Mart_Consult wrote:
Cde Monomotapa wrote:
Ericsson wrote:
@Cde Monomotapa
Yes it does Stanbic and CFC style


OK. Thanks. Was also recalling a reverse listing by a certain bank of a furniture & clothing retailer. That made think of the Jamii Bora, Uchumi acquisition.

Random.


ABIL? That receivership though...


It was TN Bank & TEDCO Ltd. now Steward Bank, ZW.
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