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KCB running Chase Bank (in receivership)
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Ethiteri
#21 Posted : Wednesday, April 20, 2016 11:56:57 AM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
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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  | | Edit by user: Wednesday, April 20, 2016 12:01 PM | Reason: Not specified
Swenani
#22 Posted : Wednesday, April 20, 2016 12:11:30 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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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Swenani
#23 Posted : Wednesday, April 20, 2016 12:16:03 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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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MaichBlack
#24 Posted : Wednesday, April 20, 2016 12:30:24 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
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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MaichBlack
#25 Posted : Wednesday, April 20, 2016 12:34:41 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
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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MaichBlack
#26 Posted : Wednesday, April 20, 2016 12:37:56 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,838
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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alma1
#27 Posted : Wednesday, April 20, 2016 1:19:03 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
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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kiash
#28 Posted : Wednesday, April 20, 2016 1:50:40 PM
Rank: Veteran

Joined: 4/27/2010
Posts: 951
Location: Nyumbani
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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Swenani
#29 Posted : Wednesday, April 20, 2016 1:52:46 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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".

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
If Obiero did it, Who Am I?
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Swenani
#30 Posted : Wednesday, April 20, 2016 1:55:15 PM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
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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