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KCB running Chase Bank (in receivership)
Rank: Member Joined: 2/4/2016 Posts: 175 Location: Global
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From my understanding the main purpose of this move is to enable depositors access their funds which are affecting the economy when locked up.
Chase bank is under the receiver manager but with KCB providing oversight.This is in terms of liquidity(note monies are upto 1M..),normal current account operations,receiving loan repayments etc.
Other bank issues like loans may be not there.
After due diligence which could take 6 months then KCB will have the first right to take it over.
As for the staff the receiver will decide how many he wants to keep for those basic operations.This means a good number will have to go.
All in all the small depositor is safe and I strongly support the Opus Dei who is doing a good job.
About "flight to safety" from tier 2 banks I urge we rethink our moves and support them but ensure good governance in them.Let the management structures be as required by Prudential Guidelines.
@Alma ....DTB,I&M,BOA are good to look at.
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Ethiteri wrote:From my understanding the main purpose of this move is to enable depositors access their funds which are affecting the economy when locked up.
Chase bank is under the receiver manager but with KCB providing oversight.This is in terms of liquidity(note monies are upto 1M..),normal current account operations,receiving loan repayments etc.
Other bank issues like loans may be not there.
After due diligence which could take 6 months then KCB will have the first right to take it over.
As for the staff the receiver will decide how many he wants to keep for those basic operations.This means a good number will have to go.
All in all the small depositor is safe and I strongly support the Opus Dei who is doing a good job.
About "flight to safety" from tier 2 banks I urge we rethink our moves and support them but ensure good governance in them.Let the management structures be as required by Prudential Guidelines.
@Alma ....DTB,I&M,BOA are good to look at.
1.All branches to be opened on 27th April 2. Access up-to Kshs 1Million (accounts within this bracket make up 97% of the bank customers or 6% of total deposits) 3.Full access to new deposits If Obiero did it, Who Am I?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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alma1 wrote: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. Jaribu time for more, they even send you whiskey on your birthdays! If Obiero did it, Who Am I?
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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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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. You must be among the 10 happiest Kenyans today!!! This Bank almost drove you nuts and threatened to turn you into a poet!!! He he he. If you ask philosophers they will tell you what are some of the things that make one a "good poet". 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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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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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 Luckily, KCB have no other bank and hence no perceived "conflict of interest". And just in case you haven't noticed yet, I am being sarcastic! 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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Rank: Elder Joined: 7/22/2009 Posts: 7,452
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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. That is life. Hata "mayuu". Ever heard of the 1% in the US - Who control 90% of the wealth??? 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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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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MaichBlack 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. You must be among the 10 happiest Kenyans today!!! This Bank almost drove you nuts and threatened to turn you into a poet!!! He he he. If you ask philosophers they will tell you what are some of the things that make one a "good poet". Lol Kabisa It's not easy finding a bank in Kenya. They are just places where people line up to give money to an annoying fellow on the other side and receive money from an even more annoyed fellow on the other side. So of course when I saw smilling watchmen saying hi and goodmorning to you and in English, I had hope in humanity. Trust me, if KCB tries any of their managerial style on this bank, they would have been better advised to allow the Qutaris take it over. Chase customers were spoilt. That's why you see that very many of them have yet to find another bank. Look at the fellows at Imperial Bank...To them its good riddance. At Chase it was all about service to the customer. Sasa hii KCB who don't even wash their offices itatupeleka wapi? Thank you Mr. Governor for allowing us the time to shop accordingly. Thieves are not good people. Tumeelewana?
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Rank: Veteran Joined: 4/27/2010 Posts: 951 Location: Nyumbani
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You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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MaichBlack 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. You must be among the 10 happiest Kenyans today!!! This Bank almost drove you nuts and threatened to turn you into a poet!!! He he he. If you ask philosophers they will tell you what are some of the things that make one a "good poet".  If Obiero did it, Who Am I?
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank If Obiero did it, Who Am I?
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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Swenani wrote:kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank Very very true. Considering the counties and gov't agencies that had accounts there, KCB's true purpose is to get those accounts. That's why they are willing to give the alma's their 1m to leave bila kuleta shida. That's why we are moaning as SME's. We are like a chick who was just dumped at the altar after the groom decided to spend time at Karumaindo. Thieves are not good people. Tumeelewana?
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Rank: Hello Joined: 1/7/2016 Posts: 8
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alma1 wrote:Swenani wrote:kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank Very very true. Considering the counties and gov't agencies that had accounts there, KCB's true purpose is to get those accounts. That's why they are willing to give the alma's their 1m to leave bila kuleta shida. That's why we are moaning as SME's. We are like a chick who was just dumped at the altar after the groom decided to spend time at Karumaindo. I need some clarification hapa.. Chase Assurance is a wholly owned subsidiary of Chase bank, does this go to KCB too? Is it probable that KCB will also buy the other sister companies like Rafiki Microfinance and Genghis Capital? How exactly will this take place?
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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rutechura wrote:alma1 wrote:Swenani wrote:kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank Very very true. Considering the counties and gov't agencies that had accounts there, KCB's true purpose is to get those accounts. That's why they are willing to give the alma's their 1m to leave bila kuleta shida. That's why we are moaning as SME's. We are like a chick who was just dumped at the altar after the groom decided to spend time at Karumaindo. I need some clarification hapa.. Chase Assurance is a wholly owned subsidiary of Chase bank, does this go to KCB too? Is it probable that KCB will also buy the other sister companies like Rafiki Microfinance and Genghis Capital? How exactly will this take place? Those other companies were owned by Romeo & Juliet but were not part of Chase Group..very smart! They can't be touched. However, most costs are on Chase, so expect them to start making losses once they pay their own HR and rental costs. Business opportunities are like buses,there's always another one coming
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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rutechura wrote:alma1 wrote:Swenani wrote:kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank Very very true. Considering the counties and gov't agencies that had accounts there, KCB's true purpose is to get those accounts. That's why they are willing to give the alma's their 1m to leave bila kuleta shida. That's why we are moaning as SME's. We are like a chick who was just dumped at the altar after the groom decided to spend time at Karumaindo. I need some clarification hapa.. Chase Assurance is a wholly owned subsidiary of Chase bank, does this go to KCB too? Is it probable that KCB will also buy the other sister companies like Rafiki Microfinance and Genghis Capital? How exactly will this take place? @Chura, My basic understanding is this, If KCB acquires 70% of chase bank while chase bank had 50% in any subsidiary, KCB will takeover proportionate ownership of that subsidiary,in this case 35%(70%X 50%) If Obiero did it, Who Am I?
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Bring it on the KCB rights issue. We will snap all that will be on the table. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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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 I wish member ndio ingechulua hii Chase...they have almost similar customer base...ROAR is so "upper class". Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Member Joined: 1/22/2015 Posts: 682
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Swenani wrote:kiash wrote:You mean Chase bank was that gud, ama Alma used to be a manager there.I never knew a lot about the bank i could not even identify the logo.
But am a bit lost here, imagining there are more than 150K Alma's out there, they will wait for next week to get back their millions and then look for another suitor, and going by the word here, it does not look like its going to be KCB.So some other bank might get that money (say I&M)
So who can explain to me the purpose of KCB buying into Chase Bank? unless they have assets worth several billions which i doubt.Unless they force the former customers to stay with them for say 2 yrs as a collateral to acquire their monies. What are the benefits to KCB ? KCB is not interested in the @Alma's of chase bank who are many but only make up 6% of the deposits, I think it's interested in the 3% who make up 94% of the deposits and of course the KCB managers are also interested in those yummy women working at chase bank I would not be shocked to see the wazuans who have been crying here are in that 3%. You will be surprised at the bigshots behind these handles. Also the 'guests' tend to be heavy hitters sourcing for insider info.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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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. Sijui @alma ako pande gani ya hizi %age...97% sio mbaya saaaaaana. LOL! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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watesh wrote:I wonder how much KCB is spending to buy this bank.... Rights issue coming soon. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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