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KCB running Chase Bank (in receivership)
MaichBlack
#81 Posted : Saturday, April 23, 2016 8:40:39 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,452
Wakanyugi wrote:
Swenani wrote:
Wakanyugi wrote:
Swenani wrote:
Wakanyugi wrote:
muganda wrote:
The big questions:

1. Which depositors don't interpret this as a call to MOVE funds? Including via online and mobile banking come Wednesday?

2. Do the hefty depositors locked in, 64bn in 5,000 accounts, who obviously have relations with more than one bank, agree to move to KCB?




There is a good reason why banks record depositors on the debit column (beyond accounting practice). The real value to KCB is in the loan portfolio and especially the SME customers that Chase has attracted over the years. These ones are much harder to move.

For the long term, some value could come from the brand but I don't think KCB will want a competing brand in its stable. Remember the challenges they have had over the years in integrating Savings and Loan, which is their baby.


What is the reason? In most cases, you will find that total net book value is usually less than total custom deposits, the bank cannot only be interested in loan book at the expenses of deposits since the later determines the former


When you deposit money in an account the Bank considers it a loan that you can often call back any time. So it goes to the liability column. But when you borrow money from a bank, the logic is reversed. To the Banker, you are now the gift that keeps on giving.

Of course I am not a banker...but akina Kula Raha wanaweza kuchangia huu mjadala.

What you have explained above is the accounting practise, In your post, you stated there is another reason beyond the accounting practice-That's what I was waiting to hear/read



Asi!

Swenani, na wewe ni aye.

It was a finger of speech




Aiii naku!!! Finger of speech ndio gani tena? Any relations to one Hellon and Esther Arunga?
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
MaichBlack
#82 Posted : Saturday, April 23, 2016 9:05:10 AM
Rank: Elder


Joined: 7/22/2009
Posts: 7,452
enyands wrote:
murchr wrote:
kiash wrote:
Just like Dr Mwangi said about Technology in Equity, banking jobs will be left for a very few. Those tellers will dissapear. You will not need a teller to withdraw or deposit.Machines will replace people.It has happened here and you pop into a bank, a receptionist who does everything like giving out new cards ama checkbooks.The rest work with appointments.This will be the case in Kenya, checking account balance online is/will be possible book appointment for a kaloan, withdraw hapo nje,deposit.
Actually in Kenya it might turn out in a very different way coz of mobile banking.
Let the employees dance for now


Yes Bank tellers will be a job of the past. Customer care reps will be needed tho, not everyone is computer literate, so they will need people to speak to customers on phone, they will need to sell their products so these reps will be needed for a while.

I look at bank tellers feeling hot across the counter and just pity them...



Used to be one. When employed they tell you you need to be neat and look good because you are the image of the bank. We used to be money custodian of guys in the informal sector who would earn 10 time more than us and they never wore a neck choking tie like we did and having crazy targets. Most of those guys should go and learn ICT stuff if they have to survive.

And some banks are employing babies as tellers nowadays - I guess it is on contract. I visited one and had a problem believing some of the tellers were above 18. Others take students on attachment and put them in the banking hall pap! Probably after a day of training.

I hate when some kid tries to tell me something I have been doing all along is not possible and even argues with me trying to explain to me why it is not possible. I try to school the fellow but his crammed theory can't allow him to understand. He argues till a more experienced employee intervenes.

Some idiot on attachment once told me it is not possible to apply for extra shares than allocated in a rights issue. I argued with him for some time and he could not hear any of it. I went to the extent of showing him the section on the form where you indicate the number of extra shares you are applying for and he told me they probably meant I should buy those extra shares from the open market at current market prices!!! I almost slapped the day light out of him!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
Swenani
#83 Posted : Saturday, April 23, 2016 9:19:41 AM
Rank: User


Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Ethiteri wrote:
I hear Sidian has bagged most of the "hot mamas" akina maka have been salivating for.

Hope they do the Chase Magic at Sidian.


Happy for you Ethiteri for getting a job so soon!
If Obiero did it, Who Am I?
enyands
#84 Posted : Saturday, April 23, 2016 9:22:22 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
MaichBlack wrote:
enyands wrote:
murchr wrote:
kiash wrote:
Just like Dr Mwangi said about Technology in Equity, banking jobs will be left for a very few. Those tellers will dissapear. You will not need a teller to withdraw or deposit.Machines will replace people.It has happened here and you pop into a bank, a receptionist who does everything like giving out new cards ama checkbooks.The rest work with appointments.This will be the case in Kenya, checking account balance online is/will be possible book appointment for a kaloan, withdraw hapo nje,deposit.
Actually in Kenya it might turn out in a very different way coz of mobile banking.
Let the employees dance for now


Yes Bank tellers will be a job of the past. Customer care reps will be needed tho, not everyone is computer literate, so they will need people to speak to customers on phone, they will need to sell their products so these reps will be needed for a while.

I look at bank tellers feeling hot across the counter and just pity them...



Used to be one. When employed they tell you you need to be neat and look good because you are the image of the bank. We used to be money custodian of guys in the informal sector who would earn 10 time more than us and they never wore a neck choking tie like we did and having crazy targets. Most of those guys should go and learn ICT stuff if they have to survive.

And some banks are employing babies as tellers nowadays - I guess it is on contract. I visited one and had a problem believing some of the tellers were above 18. Others taken students on attachment and put them in the banking hall pap! Probably after a day of training.

I hate when some kid tries to tell me something I have been doing all along is not possible and even argues with me trying to explain to me why it is not possible. I try to school the fellow but his crammed theory can't allow him to understand. He argues till a more experienced employee intervenes.

Some idiot on attachment once told me it is not possible to apply for extra shares than allocated in a rights issue. I argued with him for some time and he could not hear any of it. I went to the extent of showing him the section on the form where you indicate the number of extra shares you are applying and he told me they probably meant I should buy those extra shares from the open market at current market prices!!! I almost slapped the day light out of him!



MaichBlack that kids ego of being a "banker " won't let him/her accept that a non banker can school a banker .Laughing out loudly .been there long time and I know . Though iv heard good things about the Chase cum kcb bank tellers and their customer service . I really want to go get that experience . Can't wait for august
Ericsson
#85 Posted : Saturday, April 23, 2016 10:29:34 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,678
Location: NAIROBI
http://www.businessdaily.../-/ndo4yfz/-/index.html

KCB can make Chase Bank a subsidiary or division purely dedicated to SME instead of lumping their SME banking under the Retail Banking division and retain the staff to undertake this mission.
The Chase Bank branches can be converted to SME banking Centres similar to what it does with Savings and Loans where the branches are branded as Mortgage centers.
This way KCB will make sure it reaps maximum benefit on the Chase Bank acquisition.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
streetwise
#86 Posted : Saturday, April 23, 2016 11:30:22 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit
obiero
#87 Posted : Saturday, April 23, 2016 5:30:34 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,501
Location: nairobi
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
KulaRaha
#88 Posted : Saturday, April 23, 2016 5:43:05 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.
Business opportunities are like buses,there's always another one coming
Swenani
#89 Posted : Saturday, April 23, 2016 5:48:57 PM
Rank: User


Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?
If Obiero did it, Who Am I?
Ethiteri
#90 Posted : Saturday, April 23, 2016 6:53:49 PM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.
Cde Monomotapa
#91 Posted : Saturday, April 23, 2016 8:05:57 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
In the 1st instance it is a show of confidence in KCB's management prowess. Acquisition matters will require approvals from concerned parties - later.

If I were to go for Chase as KCB it would be to lever the balance sheet to bolster Chase Iman. Word on the street is Chase Iman inakita. What was that about yet to grasp how to represent IF? Interesting.
streetwise
#92 Posted : Saturday, April 23, 2016 8:45:57 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
@Etitheri you said it. That is what the customer saw and chose to buy in chase
obiero
#93 Posted : Saturday, April 23, 2016 8:50:00 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,501
Location: nairobi
Ethiteri wrote:
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.

Banking is built on trust not short skirts

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
Ethiteri
#94 Posted : Saturday, April 23, 2016 9:52:24 PM
Rank: Member


Joined: 2/4/2016
Posts: 175
Location: Global
obiero wrote:
Ethiteri wrote:
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.

Banking is built on trust not short skirts


But of course trust is the unwritten first rule.

So you imagine UNSACCO & STRATHMORE deposited the reported millions based on skirts.Skirts could only go so far the rest was covered by the product offering and the good customer service.


enyands
#95 Posted : Sunday, April 24, 2016 12:07:53 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Ethiteri wrote:
obiero wrote:
Ethiteri wrote:
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.

Banking is built on trust not short skirts


But of course trust is the unwritten first rule.

So you imagine UNSACCO & STRATHMORE deposited the reported millions based on skirts.Skirts could only go so far the rest was covered by the product offering and the good customer service.





@obiero when there is a new model of car in Europe ama America why do we see almost nude women standing next to it in show rooms
obiero
#96 Posted : Sunday, April 24, 2016 8:35:43 AM
Rank: Elder


Joined: 6/23/2009
Posts: 13,501
Location: nairobi
enyands wrote:
Ethiteri wrote:
obiero wrote:
Ethiteri wrote:
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.

Banking is built on trust not short skirts


But of course trust is the unwritten first rule.

So you imagine UNSACCO & STRATHMORE deposited the reported millions based on skirts.Skirts could only go so far the rest was covered by the product offering and the good customer service.





@obiero when there is a new model of car in Europe ama America why do we see almost nude women standing next to it in show rooms

@enyani reading does not finish the eyes. I said banks not cars cars

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
enyands
#97 Posted : Sunday, April 24, 2016 9:16:09 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
obiero wrote:
enyands wrote:
Ethiteri wrote:
obiero wrote:
Ethiteri wrote:
Swenani wrote:
KulaRaha wrote:
obiero wrote:
streetwise wrote:
Your thought are in the right direction. Loading kcb culture on that of chase Will bear no fruit

what culture did chase have.. short skirts isn't banking, globally


Chase culture was hollow: Sleeping with the boss isn't a long-term strategy.


@Ethiteri,have you seen this?



I think its good to give credit where its due.

There was a culture that shaped people in a certain way.A culture that grew in both men and women.It banking circles it was easy to pick out a chaser based on how they carried themselves around.Dressing,talking,mannersisms etc

That women wore short skirts and slept with bosses is not unique to Chase.True some(maybe 100/1000) women slept with bosses and consequently moved up career/salary wise.Yes some women wore micro mini skirts that attracted men clientele to the bank:- meaning they achieved their goal at that point.They had targets to meet and if a micro skirt will bring that client,whats wrong with that?And by the way its not like they dressed like K/street langas. They were above the knee skirts and body hugging but not necessarily indecent.

But I think the good culture we are talking about is the one that helped business grow.Exceptional customer service,service with a smile,prompt feedback,going an extra mile to make things happen for you the customer.That water and sweets in the banking hall were small items but made a big difference.

Banking is built on trust not short skirts


But of course trust is the unwritten first rule.

So you imagine UNSACCO & STRATHMORE deposited the reported millions based on skirts.Skirts could only go so far the rest was covered by the product offering and the good customer service.





@obiero when there is a new model of car in Europe ama America why do we see almost nude women standing next to it in show rooms

@enyani reading does not finish the eyes. I said banks not cars cars


that's my point, in both of them it is marketing strategy
watesh
#98 Posted : Sunday, April 24, 2016 11:01:22 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 969
Location: Kenya
Ethiteri wrote:
I hear Sidian has bagged most of the "hot mamas" akina maka have been salivating for.

Hope they do the Chase Magic at Sidian.

That is what the boss DJ likes, hot mamas everywhere
Swenani
#99 Posted : Sunday, April 24, 2016 11:50:40 AM
Rank: User


Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
KCB to retain chase bank brand, practices, employees and culture.KCB will not use it's funds to run chase bank neither will it be poaching accounts-Oigara

Source-The East African pg 8 &9
If Obiero did it, Who Am I?
alma1
#100 Posted : Sunday, April 24, 2016 2:13:55 PM
Rank: Elder


Joined: 9/19/2015
Posts: 2,871
Location: hapo
Swenani wrote:
KCB to retain chase bank brand, practices, employees and culture.KCB will not use it's funds to run chase bank neither will it be poaching accounts-Oigara

Source-The East African pg 8 &9


Obviously he's been reading my fear on wazua.

These fellows who say that good banks are supposed to be dirty, sad, dark and miserable places need to stop lying kidogo.

Which school of economic thought is that one? Have they ever gone to a Bank of America and seen it dirty? And with long lines for no particular reason other than the tellers have gone for lunch break and their coat is on the desk.

Come on people...Dirty banks don't mean they are safe banks. After all that KCB bank is the same one that was saved a few years ago by my tax dollar. Let's not even speak about the other boring NBK which Othelo has been dumping shares around here.

Ati a dark bank is where you go keep your money....Laughing out loudly Laughing out loudly Laughing out loudly Has anyone gone to the equity branch on Mombasa road opposite zuku? I could have sworn I was in a morgue. People are so scared of going to that place in case they are mugged inside the dark brown branch.
Thieves are not good people. Tumeelewana?

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