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KCB running Chase Bank (in receivership)
Ethiteri
#1 Posted : Wednesday, April 20, 2016 9:23:00 AM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
A press conference by PN is expected today on the way foward. Before midday I hear.
muganda
#2 Posted : Wednesday, April 20, 2016 10:29:55 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
muganda
#3 Posted : Wednesday, April 20, 2016 10:35:16 AM
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Joined: 9/15/2006
Posts: 3,905
alma1
#4 Posted : Wednesday, April 20, 2016 10:42:56 AM
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Joined: 9/19/2015
Posts: 2,871
Location: hapo
As someone who needs to use Chase Bank services in the short term, that's very good.

But I'm shopping for another bank like chase. If you have fununu tumia mimi. Can't imagine KCB management running this bank in the long term. We'll go back to those long ques. Oh boy another big brother takes over.

Very good news. Open the branches so that we can access the facilities as we shop for other options.
Thieves are not good people. Tumeelewana?

maka
#5 Posted : Wednesday, April 20, 2016 10:48:47 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
alma1 wrote:
As someone who needs to use Chase Bank services in the short term, that's very good.

But I'm shopping for another bank like chase. If you have fununu tumia mimi. Can't imagine KCB management running this bank in the long term. We'll go back to those long ques. Oh boy another big brother takes over.

Very good news. Open the branches so that we can access the facilities as we shop for other options.


@Alma1...NIC
possunt quia posse videntur
alma1
#6 Posted : Wednesday, April 20, 2016 10:55:30 AM
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Joined: 9/19/2015
Posts: 2,871
Location: hapo
maka wrote:
alma1 wrote:
As someone who needs to use Chase Bank services in the short term, that's very good.

But I'm shopping for another bank like chase. If you have fununu tumia mimi. Can't imagine KCB management running this bank in the long term. We'll go back to those long ques. Oh boy another big brother takes over.

Very good news. Open the branches so that we can access the facilities as we shop for other options.


@Alma1...NIC


Asante sana. I'll be visiting them soon.

People don't understand that Chase was great coz of customer care. That was why we banked with them.

I can just see the future where all those branches are turned into green with lions all over and dirty floors and a manager who doesn't know your name.

As an investor, I may buy KCB shares. As a customer, let me do some shopping. Can't even imagine the culture shock for Chase Employees. Some who actually left KCB to run to Chase.

Good news though, wacha tuendelee na kazi.

By the way, is anyone going to court for shutting down this bank or is this another PR exercise. Will KCB pay billions to the very same directors who disappeared with the money. Can you imagine the message?

Run down your bank...Get saved by KCB. Get paid billions and retire.
Thieves are not good people. Tumeelewana?

watesh
#7 Posted : Wednesday, April 20, 2016 10:57:55 AM
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Joined: 8/10/2014
Posts: 969
Location: Kenya
I wonder how much KCB is spending to buy this bank....
mlennyma
#8 Posted : Wednesday, April 20, 2016 11:00:29 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
alma1 wrote:
As someone who needs to use Chase Bank services in the short term, that's very good.

But I'm shopping for another bank like chase. If you have fununu tumia mimi. Can't imagine KCB management running this bank in the long term. We'll go back to those long ques. Oh boy another big brother takes over.

Very good news. Open the branches so that we can access the facilities as we shop for other options.

opening is good news,but iam not happy about the management to come
"Don't let the fear of losing be greater than the excitement of winning."
MaichBlack
#9 Posted : Wednesday, April 20, 2016 11:21:38 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,452
Ericsson wrote:
@washiku
Owining two competing etities in the same market.
Unless either they decide chase bank and ecobank be merged

Economics 101: Owning two competing businesses is NOT conflict of interest (especially if you are a major shareholder in both).

It could be loosely be deemed to be some sort of conflict if you are a major shareholder in one and a minor shareholder in the other and you use your influence in the company where you are the minor shareholder to push for decisions that favour the company where you are the major shareholders - But where would the major shareholders in the company you are a minor shareholder be when you are pulling that off.

Conflict of interest comes in when companies are interacting/trading with each other. Like Ciano selling vegetables to Uchumi or if Dr. Opus Dei would own a bank/become the main shareholder in one!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
githundi
#10 Posted : Wednesday, April 20, 2016 11:22:01 AM
Rank: Veteran


Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
This represents the first case where a bank in receivership has been opened in recent times in Kenya . I wish Kcb all the best. ...but as @ alma confirms to allow most depositors get their funds.
Democracy does not belong to the dead
githundi
#11 Posted : Wednesday, April 20, 2016 11:24:08 AM
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Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
From the statement. .Kcb are playing safe as they are going to wait until the dust settles
Democracy does not belong to the dead
muganda
#12 Posted : Wednesday, April 20, 2016 11:24:17 AM
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Joined: 9/15/2006
Posts: 3,905
Ericsson
#13 Posted : Wednesday, April 20, 2016 11:24:50 AM
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Joined: 12/4/2009
Posts: 10,678
Location: NAIROBI
@MaichBlack;
Just like I had said in an earlier post and given my reasons QNB failed to get the nod to acquire Chase Bank even though they were number 1.
Kazi iendelee Hongera KCB
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
githundi
#14 Posted : Wednesday, April 20, 2016 11:26:13 AM
Rank: Veteran


Joined: 11/19/2010
Posts: 1,308
Location: nairobi metropolitan
It's a case of once beaten twice shy for it's clients. .They can try to change name if a takeover materialises
Democracy does not belong to the dead
Emerger
#15 Posted : Wednesday, April 20, 2016 11:30:19 AM
Rank: New-farer


Joined: 12/1/2014
Posts: 45
Location: Nairobi
muganda wrote:


Interesting times.
kiash
#16 Posted : Wednesday, April 20, 2016 11:30:22 AM
Rank: Veteran


Joined: 4/27/2010
Posts: 951
Location: Nyumbani
Is it true that 97% of the account holders had only 6% of the bank deposits? 3% held 94% so you can imagine who are the 3% this explains a lot.
instinct
#17 Posted : Wednesday, April 20, 2016 11:31:13 AM
Rank: Member


Joined: 8/17/2007
Posts: 294
mlennyma wrote:
alma1 wrote:
As someone who needs to use Chase Bank services in the short term, that's very good.

But I'm shopping for another bank like chase. If you have fununu tumia mimi. Can't imagine KCB management running this bank in the long term. We'll go back to those long ques. Oh boy another big brother takes over.

Very good news. Open the branches so that we can access the facilities as we shop for other options.

opening is good news,but iam not happy about the management to come


KCB will most likely run it as a subsidiary for as long as it makes sense to...say 5 years
Mike Ock
#18 Posted : Wednesday, April 20, 2016 11:37:16 AM
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Joined: 1/22/2015
Posts: 682
So did the directors return the 8 billion?
ZZE123
#19 Posted : Wednesday, April 20, 2016 11:46:29 AM
Rank: Elder


Joined: 6/21/2008
Posts: 2,490
Ericsson wrote:
@MaichBlack;
Just like I had said in an earlier post and given my reasons QNB failed to get the nod to acquire Chase Bank even though they were number 1.
Kazi iendelee Hongera KCB

How will KCB recover the billions of insider loans which I believe is required to pay the depositors??
The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
muganda
#20 Posted : Wednesday, April 20, 2016 11:49:13 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
kiash wrote:
Is it true that 97% of the account holders had only 6% of the bank deposits? 3% held 94% so you can imagine who are the 3% this explains a lot.

It's in black and white. That's why they say money without intelligence will kill you - you need smarts if you have more than 1m, to protect you, because CBK/KDIC are not doing it.

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