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Co-operative Bank fate.. discuss
Realtreaty
#301 Posted : Monday, January 25, 2016 1:13:55 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,386
They say "Shilingi humulikwa na ingine" Now Co-op is doing just that!!!smile smile Applause
Just waiting for FEB 2015FY results.
Co-op places agents inside banking halls as model stepped up
enyands
#302 Posted : Monday, January 25, 2016 5:41:19 AM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
Wish coop bank can follow what family bank is doing .5 year limit for the MD. coop needs néw faces and new ideas.
jerry
#303 Posted : Monday, January 25, 2016 9:57:05 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
enyands wrote:
Wish coop bank can follow what family bank is doing .5 year limit for the MD. coop needs néw faces and new ideas.

I think Coop is way ahead. FB should list in NSE. There are reasons,other than strategic planning, that led to retiring of FB's CEO.
The opposite of courage is not cowardice, it's conformity.
streetwise
#304 Posted : Monday, January 25, 2016 10:02:34 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
You forget one fact, that Coop MD owns the bank while as Family Bank MD is just an employee.
Ericsson
#305 Posted : Monday, January 25, 2016 10:17:53 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
@streetwise;
I support enyands comment.Coop needs a new face and fresh ideas.
What sort of a plan is this they are doing placing agents inside the branches and removing the tellers.Just have the tellers.
If the customers aren't responding positively to the agent then there is a problem.Customer is always KING.
Safaricom tried the big box and when they realised it wasn't working had to scrap it off and check the cause.
Coop is being run like a kiosk;corporate governance procedures are extremely weak and Gideon fears leaving now because once he leaves the cockroaches being hidden will be let thus exposing the rot and "investigators" might come for him.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
streetwise
#306 Posted : Monday, January 25, 2016 10:41:31 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
You have stated the facts very correctly, the board needs to take heed.

Currently Coop is not only run the way you have said but like personal property.

When the current MD leaves I expect the scandals and orphans to be the level of the NYS scandals.
enyands
#307 Posted : Monday, January 25, 2016 3:37:17 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
streetwise wrote:
You have stated the facts very correctly, the board needs to take heed.

Currently Coop is not only run the way you have said but like personal property.

When the current MD leaves I expect the scandals and orphans to be the level of the NYS scandals.


I worked there once upto to a level up. I'm telling you the rot that will come out will shock many. The MD gets a bonus of 40m a year beside the dividends and that was in 2007.at the procurement and purchases dept is another den. Well I'm not mad at why he used to get that but made me wonder alot. He owns a little bit under 2% shares but man that guy should just let go leadership .it is what it is....

The shares will rally better with new faces.
Bachuma Gate
#308 Posted : Monday, January 25, 2016 4:22:51 PM
Rank: Member

Joined: 3/26/2012
Posts: 280
He also owns the board.

His has given them loans and shares. And they are very thankful. Imagine you are a civil servant/an employee sitting on the board by virtue of being your Sacco rep. The CEO finances you to buy hundred of acres of land /upmarket proerties at concessionary interest rate to sell later in future. Why would you want to remove him. The bank belongs to Sacco plus you n me. Hes got nothing to loss even if it doesn't make profit. Very poor board structure.

He is now working to move from CEO to chairman of the board so that he can continue shielding himself. Afro cinema.
DOH
enyands
#309 Posted : Monday, January 25, 2016 4:39:35 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
Bachuma Gate wrote:
He also owns the board.

His has given them loans and shares. And they are very thankful. Imagine you are a civil servant/an employee sitting on the board by virtue of being your Sacco rep. The CEO finances you to buy hundred of acres of land /upmarket proerties at concessionary interest rate to sell later in future. Why would you want to remove him. The bank belongs to Sacco plus you n me. Hes got nothing to loss even if it doesn't make profit. Very poor board structure.

He is now working to move from CEO to chairman of the board so that he can continue shielding himself. Afro cinema.



You killed it man Applause . Then poor tellers going to lose their jobs to the agents working on the same banking hall. Jameni hata usa greedy banks don't do that
Obi 1 Kanobi
#310 Posted : Monday, January 25, 2016 4:44:46 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
Ericsson wrote:
@streetwise;
I support enyands comment.Coop needs a new face and fresh ideas.
What sort of a plan is this they are doing placing agents inside the branches and removing the tellers.Just have the tellers.
If the customers aren't responding positively to the agent then there is a problem.Customer is always KING.
Safaricom tried the big box and when they realised it wasn't working had to scrap it off and check the cause.
Coop is being run like a kiosk;corporate governance procedures are extremely weak and Gideon fears leaving now because once he leaves the cockroaches being hidden will be let thus exposing the rot and "investigators" might come for him.


I don't know about fraud or lack of corporate governance structures, but I tell you from a marketing perspective, placing of agents inside the bank is a master piece which will probably be copied by all other banks.

Its a temporary measure to help customers familiarise with agencies, eventually it will move distribution from branches to agents hence freeing the bank staff to focus on selling as opposed to admin work or allowing management to cut cost by reducing tellers.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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