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Now Imperial Bank under receivership for 12 months
Rank: Member Joined: 4/22/2008 Posts: 5 Location: Nairobi
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Now Imperial Bank placed under management https://centralbank.go.k...ease_-_Imperial_Bank.pdfThe young man knows the rules, but the old man knows the exceptions. - O.W. Holmes Snr.
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Rank: User Joined: 1/20/2014 Posts: 3,528
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How was the bond approved, thought CB is part of approval/authorization process. cc@mnandi ...... things are starting to fall into place! Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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This new CBK, quite decisive. All things aside, better to salvage when there's life left, than working with a carcass.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Othelo wrote:How was the bond approved, thought CB is part of approval/authorization process.
cc@mnandi ...... things are starting to fall into place! Different times, different governor. Is it even 2 months since the bond, will it get listed and trade at the NSE?
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Massive run on small banks expected. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 7/4/2010 Posts: 118
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For a bank that recently posted KES 2 billion profits after tax in the quarter ending March 2015 (https://www.imperialbankgroup.com/ke/wp-content/uploads/2014/05/Q1-2015-financials.pdf) this is incredible. CBK should take responsibility for this now, they are clearly not performing their supervisory role as effectively as they should.
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Rank: Member Joined: 8/15/2015 Posts: 817
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Rank: Hello Joined: 9/29/2015 Posts: 5
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Beside, all recent indicators showed that the bank was sailing on a solid rock.
As at end of FY14, Imperial bank was ranked 17th in terms of core capital (KES 6.5bn), 17th on gross advances (1.6% of total industry), 14th on PBT (1.9% of total industry) and 17th on total customer deposits (1.8% of total industry). As at close of 2Q15, Imperial’s tier 1 CAR stood at 14.8% (vs. 10.5% statutory minimum) and liquidity ratio was 40.7% (vs. 20% statutory minimum). In 1H15, PAT, loans and deposits increased 0.3%y/y, 14.4%y/y and 15.7%y/y respectively. (CBK, Standard Investment Bank).
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What actually went wrong and who failed?
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Cooking the books? Who was the auditor? Business opportunities are like buses,there's always another one coming
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Tafathali Wazuans we need to dig this and leave no stone unturned.
The purpose is this would be a lesson to Wanjiku not to invest in such banks or management.
We are waittiiiiiing
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Rank: Veteran Joined: 4/4/2007 Posts: 1,162
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The GM Janmohammed died a few months back, no?
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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a polite reminder on companies/stocks not to touch in the short term: transcentury, sameer, britam, eveready, express, kq, marshalls, olympia, carbacid, eabl, eapc, msc, home afrika, tpsea, kurwitu, uchumi
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,501 Location: nairobi
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liquidity ratios are finishing the smaller banks. consolidated, development and national banks are merging so as to survive.. this is good for the industry but bad for the customer of affected banks that may go under
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2007 Posts: 1,162
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obiero wrote:a polite reminder on companies/stocks not to touch in the short term: transcentury, sameer, britam, eveready, express, kq, marshalls, olympia, carbacid, eabl, eapc, msc, home afrika, tpsea, kurwitu, uchumi How did you arrive at this conclusion?
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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2 banks within a 2-month span? Under a new Guvnor?
Dubai and Imperial Bank shenanigans took months-to-years to happen, didnt just happen overnight, so why didn't Prof Ndung'u funga them?
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Rank: Elder Joined: 8/1/2008 Posts: 1,432 Location: Marsabit
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lisaox wrote:For a bank that recently posted KES 2 billion profits after tax in the quarter ending March 2015 (https://www.imperialbankgroup.com/ke/wp-content/uploads/2014/05/Q1-2015-financials.pdf) this is incredible. CBK should take responsibility for this now, they are clearly not performing their supervisory role as effectively as they should. Found this strange too. Profits.. then problems? Mhn.. Nevermind what haters say, ignore them til they fade away - Just live your life
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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Did the son take over or what ?
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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streetwise wrote:Tafathali Wazuans we need to dig this and leave no stone unturned.
The purpose is this would be a lesson to Wanjiku not to invest in such banks or management.
We are waittiiiiiing
Could this news show the FOOLS in us all? I have scanned through financial statements of this mid-tier bank https://www.imperialbankgroup.co...us/financial-statements/, and how in the hell do we foresee this coming to this mid-tier bank, linked to Alnasir-Popat family, auditors PKF, capital above CBK ratios? Okay many business empires link a bank to their holdings money remains in the conglomerate and for financing, and do incorporate younger family members, are in real estate, but is that enough? (Kenblest, Imperial Court/Eaton Place, PathCare, Coolxtreme) Investment needs more than intellect.
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Rank: Veteran Joined: 11/15/2013 Posts: 1,977 Location: Here
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obiero wrote:a polite reminder on companies/stocks not to touch in the short term: transcentury, sameer, britam, eveready, express, kq, marshalls, olympia, carbacid, eabl, eapc, msc, home afrika, tpsea, kurwitu, uchumi Finally KQ is on list Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Rank: New-farer Joined: 5/21/2013 Posts: 72 Location: KENYA
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muganda wrote:This new CBK, quite decisive. All things aside, better to salvage when there's life left, than working with a carcass.
Wow, new brooms sweeping very clean. So what now for the bond-holders? “The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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Now Imperial Bank under receivership for 12 months
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