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Now Imperial Bank under receivership for 12 months
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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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sparkly
#51 Posted : Tuesday, October 13, 2015 3:11:01 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Wth if big banks are in manure how about the SACCO sector? huko watu watalia
Life is short. Live passionately.
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mnandii
#52 Posted : Tuesday, October 13, 2015 3:13:46 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Mainat wrote:
Notice we seem to be confusing liquidity with P&L(capital). A bank can survive capital shortage if it has strong liquidity, but will never survive liquidity shortage no matter how profitable or well capitalised.


The problem with the banking industry is that it relies on public confidence. In an environment where public confidence is crashed even the well managed institutions go under.
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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mnandii
#53 Posted : Tuesday, October 13, 2015 3:18:52 PM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Sober wrote:
So this means any account holder can only withdraw Ksh 100,000 or how does it go?


I believe receivership is quite messy. The New managers are likely to misappropriate the funds they find there! And make things worse..
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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streetwise
#54 Posted : Tuesday, October 13, 2015 3:19:49 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
You guys think this is a joke. I have friends whose life savings are in Imperial , what was CBK doing till things became this thick.

Ama ni mashida ya NYS
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timuka
#55 Posted : Tuesday, October 13, 2015 3:20:36 PM
Rank: Member

Joined: 1/21/2013
Posts: 427
Bigchick, Boris Boyka, FUNKY, Guest (42), kasibitta, kryptonite, KulaRaha, lochaes, mawinder, mnandii, Ngogoyo, Pesa Nane, rosa, streetwise, Tgoldman, timuka

Eishhh!!!!
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Othelo
#56 Posted : Tuesday, October 13, 2015 3:23:58 PM
Rank: User

Joined: 1/20/2014
Posts: 3,528
mawinder wrote:
Panic atChase, Giro, Paramount

Hope you have not been caught here this time round
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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streetwise
#57 Posted : Tuesday, October 13, 2015 3:25:55 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Let them bring the money to NSE tukule
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kasibitta
#58 Posted : Tuesday, October 13, 2015 3:28:00 PM
Rank: Member

Joined: 2/7/2014
Posts: 155
sparkly wrote:
Wth if big banks are in manure how about the SACCO sector? huko watu watalia



Woooiiii
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alma1
#59 Posted : Tuesday, October 13, 2015 3:28:11 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
You just can't run away from the truth. I have friends there. So sad.
Thieves are not good people. Tumeelewana?
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malala
#60 Posted : Tuesday, October 13, 2015 3:29:12 PM
Rank: Hello

Joined: 10/13/2015
Posts: 2
KBC reports that it's a management issue:

"...A statement from the central bank of Kenya says that the bank has been experiencing management challenges.

According to industry players, trouble begun last month following the death of Imperial bank founder and long serving group managing director Abdul-Malek Jan Mohammed.

...Following the death of Jan Mohammed, Naeem shah who was the head of credit and finance was picked on interim bases to succeed him. This has led to internal jostling for power among the other top shareholders."

http://www.kbc.co.ke/cbk...bank-under-receivership/
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  | | Edit by user: Tuesday, October 13, 2015 3:30 PM | Reason: Not specified
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