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NBK announces 1.2 billion shilling loss
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Ericsson
#51 Posted : Friday, April 01, 2016 2:44:53 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Problems in NBK started when the following was the lineup
Munir Ahmed--MD of NBK
Mohammed Hassan--Chairman NBK
Aden Mohamed--Chairman NSSF
Principal Secretary Ministry of Labour--Ali Noor Ismail who previously was an employee at NBK.

The chairman should at NBK should also be shown the door if a thorough cleanup is to be done.He is part of the clique
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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heri
#52 Posted : Friday, April 01, 2016 5:47:16 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
Mike Ock wrote:
My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera?


That has always been my question. Why not even if for PR get a few people in jail? Its just talk and more tough talk every day
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newfarer
#53 Posted : Friday, April 01, 2016 6:05:12 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
heri wrote:
Mike Ock wrote:
My question is, why won't Uhuru clamp down on some people, even as sacrificial lambs? Surely, what does he have to lose if he takes Munir to jail? Or those Youth Fund guys who confessed everything live live on camera?


That has always been my question. Why not even if for PR get a few people in jail? Its just talk and more tough talk every day



and blame the judiciary yet he has power to fire

http://www.businessdaily.../-/15f1b3tz/-/index.html
punda amecheka
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  | | Edit by user: Friday, April 01, 2016 7:00 AM | Reason: Not specified
Gatheuzi
#54 Posted : Friday, April 01, 2016 7:27:05 AM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
jerry wrote:
maka wrote:
Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’

http://www.businessdaily.../-/bvfnu1z/-/index.html

I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured???

I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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MaichBlack
#55 Posted : Friday, April 01, 2016 7:43:22 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,841
Creative accounting reloaded - Even a CPA 1 will tell you this is upus!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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jerry
#56 Posted : Friday, April 01, 2016 9:51:40 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
Gatheuzi wrote:
jerry wrote:
maka wrote:
Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’

http://www.businessdaily.../-/bvfnu1z/-/index.html

I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured???

I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating.

Thanks @Gatheuzi, The answer couldn't be simpler!
The opposite of courage is not cowardice, it's conformity.
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mlennyma
#57 Posted : Friday, April 01, 2016 9:54:16 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
The demand side is blaaaank!!!!nobody wants to handle crap
"Don't let the fear of losing be greater than the excitement of winning."
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MaichBlack
#58 Posted : Friday, April 01, 2016 10:35:57 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,841
There is a new Sheriff in Town!!!

And some clowns were more interested in his marital status!!!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Emerger
#59 Posted : Friday, April 01, 2016 10:37:46 AM
Rank: New-farer

Joined: 12/1/2014
Posts: 45
Location: Nairobi
Gatheuzi wrote:
jerry wrote:
maka wrote:
Analysts at Citi Group have been warning since 2012 that Kenyan banks are inflating their profits by deliberately underprovisioning for bad loans, says the report dubbed, ‘Don’t get Caught When the Music Stops’

http://www.businessdaily.../-/bvfnu1z/-/index.html

I need a simple answer to a simple question. It might appear stupid but why should we expect bad loans if before the loan is granted, due diligence(appraisal) is done, and the loan is secured in addition to it (loan) being insured???

I think insurance only comes in if the borrower dies. Appraisals done by thieves are not even worth the paper they are written on. In the current banking lending regime not all loans are secured. Again even with security, getting court orders to dispose off the assets is not a walk in the park. In short nothing can stop a dishonest management from cheating and eating.



Well said @Gatheuzi.

Just to add is the fact the shrewd management will always give exceptional approvals to policies as they tend to also benefit.
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whiteowl
#60 Posted : Friday, April 01, 2016 11:08:19 AM
Rank: Veteran

Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
Projected sales....projected profit Laughing out loudly Laughing out loudly Laughing out loudly
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