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Now Imperial Bank under receivership for 12 months
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Othelo
#41 Posted : Tuesday, October 13, 2015 2:18:39 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
Things gonna be nasty very very soon!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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shiznit
#42 Posted : Tuesday, October 13, 2015 2:23:26 PM
Rank: New-farer

Joined: 5/21/2013
Posts: 72
Location: KENYA
Merit wrote:
Do you think this happened just overnight and that no Branch Manager would have had any knowledge of the situation. I believe i was cheated and lied by a Branch Manager who said the Bank is more healthier today than it has been in the last 8 years causing me to transfer substanial sums of money in the last 5 days. This morning, i hear the bad news that Imperial Bank is under receivership by CBK. Talked with Branch Manager and she is leaving on vacation starting Thursday. The FDR was for a 4 month period. When can i expect to be paid and what about the 19.5% interest?


It is statutory management rather than receivership.
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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Tgoldman
#43 Posted : Tuesday, October 13, 2015 2:26:28 PM
Rank: New-farer

Joined: 1/16/2012
Posts: 56
You guys just scared the living out of me. Can wazuans tell me the status of DTB? Is it also a mid tier bank probable to face the ax.
Given its proximity to Aga Khan who are also major Nation Group shareholders, is it a safe bet?
Should someone holding over 40m in DTB for business purposes be worried? Your feedback are appreciated folks.
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KulaRaha
#44 Posted : Tuesday, October 13, 2015 2:28:37 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Story emerging is they reported a fraud to CBK who suddenly decided to walk in and close shop.

Update is key shareholders are going to court to reverse CBK order.

So many rumours.
Business opportunities are like buses,there's always another one coming
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murchr
#45 Posted : Tuesday, October 13, 2015 2:32:52 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Tgoldman wrote:
You guys just scared the living out of me. Can wazuans tell me the status of DTB? Is it also a mid tier bank probable to face the ax.
Given its proximity to Aga Khan who are also major Nation Group shareholders, is it a safe bet?
Should someone holding over 40m in DTB for business purposes be worried? Your feedback are appreciated folks.


Shame on you The accounting books are online.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Nimerudi
#46 Posted : Tuesday, October 13, 2015 2:38:49 PM
Rank: New-farer

Joined: 1/21/2015
Posts: 78
Location: Pare Pare
willin2learn wrote:
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.


When it comes to Banks..Profit is a really Loose Word. Very Loose


Kindly explain.
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mnandii
#47 Posted : Tuesday, October 13, 2015 3:02:15 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Othelo wrote:
How was the bond approved, thought CB is part of approval/authorization process.

cc@mnandi ...... things are starting to fall into place!


Sad but true.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mawinder
#48 Posted : Tuesday, October 13, 2015 3:03:18 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Panic atChase, Giro, Paramount
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mnandii
#49 Posted : Tuesday, October 13, 2015 3:07:03 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
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.


A report was released some time alleging that Kenyan banks' profits were being inflated. Pray
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Boris Boyka
#50 Posted : Tuesday, October 13, 2015 3:09:22 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
mawinder wrote:
Panic atChase, Giro, Paramount

Massive cash withdrawals from such banks
Gvt Bond will be oversubscribed.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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