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Now Imperial Bank under receivership for 12 months
Rank: New-farer Joined: 12/1/2014 Posts: 45 Location: Nairobi
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Boris Boyka wrote:malala wrote:Did CBK consider the repercussions on the depositors and other customers/stakeholders? Was this something a fine could have fixed? I am no banker but I feel like the punishment does not fit the crime. As another poster mentioned, inasmuch as we argue that it's not liquidation of the bank, Imperial's goose is pretty much cooked. Even if it is given a clean bill of health, the moment it reopens there will be mass withdrawals. Then profitability and liquidity issues will appear for real.
If this was purely a compliance issue CBK may have overreacted. Ili iwe funzo kwao na Benki zengine zenye Tabia kama hiyo! The CBK reacted from a request to intervene from the Board of Directors. Too much wrangling ongoing after the late Janmohamed.
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Rank: Elder Joined: 6/19/2008 Posts: 4,268
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KulaRaha wrote:enyands wrote:guys I don't think there has to be anything with the books. there is more to it. there was something illegal contrary to the common banking rules and regulations that was flawed by this bank in both countries. there is either money laundering or something.....it will surface Or maybe its an inexperienced CBK Governor using a hammer to open a groundnut, with little regard to the damage this can do to the whole system? Are you saying "inexperience" contagious or how do we explain what happened with our brothers across our border?
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Rank: Member Joined: 8/15/2015 Posts: 817
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Emerger wrote:Boris Boyka wrote:malala wrote:Did CBK consider the repercussions on the depositors and other customers/stakeholders? Was this something a fine could have fixed? I am no banker but I feel like the punishment does not fit the crime. As another poster mentioned, inasmuch as we argue that it's not liquidation of the bank, Imperial's goose is pretty much cooked. Even if it is given a clean bill of health, the moment it reopens there will be mass withdrawals. Then profitability and liquidity issues will appear for real.
If this was purely a compliance issue CBK may have overreacted. Ili iwe funzo kwao na Benki zengine zenye Tabia kama hiyo! The CBK reacted from a request to intervene from the Board of Directors. Too much wrangling ongoing after the late Janmohamed. wow. that must be a whole lot of infighting.like a small civil war
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Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi
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gmg wrote:CBK bank supervision unit has been a cashcow foe many but with the new Governor mtu hana tamaa ya pesa its bound to happen. Citizen weekly the gutter had reported this issue sometimes last week What had citizen weekly reported?
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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enyands wrote:Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married .  KE is not a banana republic Pesa Nane plans to be shilingi when he grows up.
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Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi
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shiznit wrote: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. It's also under receivership! CBK PRESS RELEASE
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Pesa Nane wrote:enyands wrote:Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . KE is not a banana republic I like also...Had an issue with CBK staff...complained about it to the Governor...few days later was inboxed a number to call and voila the issue is on its way to being sorted. possunt quia posse videntur
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Rank: Member Joined: 6/10/2006 Posts: 201 Location: Nairobi
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Pesa Nane wrote:enyands wrote:Don't quote me but I'm meant to understand from a friend working at the watchdog somewhere that there is a bigger shocker on the way on one of banks . I like this Njoroge guy . I'm worried about him stepping on big boys shoes hence his safety . Iv always said we need someone with a different culture to run some institutions. Njoroge has been installed with "outside kenya culture" of doing things . maybe it's because the tempo hasn't been corrupted but I hope he will keep the tempo he got from his previous employer .we need such leaders but not leaders who ask him why he isn't married . KE is not a banana republic I beg to differ...
ba·nan·a re·pub·lic
nounderogatory
noun: banana republic;a small nation, especially in Africa, dependent on one crop or the influx of foreign capital.
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Rank: Elder Joined: 9/15/2006 Posts: 3,907
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Imperial Bank represents 1.8% of banking sector; and other positive noises from CBK:
Customer angst continues:
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Rank: Hello Joined: 10/13/2015 Posts: 4 Location: Nairobi
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Boris Boyka wrote:Kenyans will be skeptical in these ones.
• African Banking Corporation Ltd
• Guardian Bank Ltd
• Consolidated Bank of Kenya Ltd
• Charterhouse Bank Ltd
• Giro Commercial Bank Ltd
• Habib Bank Ltd
• Habib Bank A.G Zurich
• Jamii Bora Bank Limited
• K-Rep Bank Ltd
• Middle East Bank (K) Ltd
• Oriental Commercial Bank Ltd
• Paramount Universal Bank Ltd
• Trans-National Bank Ltd
• UBA Kenya Bank Limited
• Victoria Commercial Bank Ltd
• Dubai Bank Kenya Ltd
• Development Bank of Kenya Ltd
• Equatorial Commercial Bank Ltd
• First community Bank Limited
• Fina Bank Ltd
• Fidelity Commercial Bank Ltd
• Gulf African Bank Limited This is the fake list that's been spreading on whatsapp and social media! For your info, charterhouse, Dubai were closed and Fina is no longer called fina! No need to spread rumors!
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Now Imperial Bank under receivership for 12 months
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