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GT (FINA) Bank Closing Nakuru Br - Tactical or trouble?
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winmak
#1 Posted : Friday, September 02, 2016 7:01:10 PM
Rank: Member

Joined: 12/1/2007
Posts: 539
Location: Nakuru
I have banked with these people since the days of FINA, I heard that the Nigerians took over and rebranded to GTB. Now, I got mail of closure in 6 months. Is this a sign of bad things coming for the Tier 3s? Anyone with inside knowledge of these people, and if I should jump ship or hold on?
For investors as a whole, returns decrease as motion increases ~ WB
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Angelica _ann
#2 Posted : Friday, September 02, 2016 7:03:59 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
They closed Eldoret Branch in June this year!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Impunity
#3 Posted : Friday, September 02, 2016 7:12:53 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
winmak wrote:
I have banked with these people since the days of FINA, I heard that the Nigerians took over and rebranded to GTB. Now, I got mail of closure in 6 months. Is this a sign of bad things coming for the Tier 3s? Anyone with inside knowledge of these people, and if I should jump ship or hold on?


Never trust a bank run by these people.
Sad
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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VituVingiSana
#4 Posted : Friday, September 02, 2016 10:18:49 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Impunity wrote:
winmak wrote:
I have banked with these people since the days of FINA, I heard that the Nigerians took over and rebranded to GTB. Now, I got mail of closure in 6 months. Is this a sign of bad things coming for the Tier 3s? Anyone with inside knowledge of these people, and if I should jump ship or hold on?


Never trust a bank run by these people.
Sad
They may be changing their strategy but "never trust a bank run by these people" is plain wrong. GTB is a huge bank and the Kenyan market is a small market for them. They haven't grown in this market but that doesn't make them "conmen" as implied.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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obiero
#5 Posted : Saturday, September 03, 2016 8:40:26 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,224
Location: nairobi
Let us stop discussions on the obvious. Next up shall be Moriental then I&M
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VituVingiSana
#6 Posted : Saturday, September 03, 2016 11:18:38 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
obiero wrote:
Let us stop discussions on the obvious. Next up shall be Moriental then I&M

Laughing out loudly Laughing out loudly Laughing out loudly I&M is doing quite well. Thank you.
BTW, is I&M one of the banks that gave money to the loss-making KQ? If yes, how much?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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KulaRaha
#7 Posted : Saturday, September 03, 2016 12:22:05 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
M Oriental is a TZ based outfit that has come to Kenya since they no longer get political accounts in TZ after Maghufuli cleaned up.

Engage at your own risk.
Business opportunities are like buses,there's always another one coming
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Bree
#8 Posted : Saturday, September 03, 2016 12:53:44 PM
Rank: Member

Joined: 7/17/2008
Posts: 478
Location: Old Trafford
Any insights on Diamond? Guess its usually Agakhan associated. I keep thinking of jumping out, fear of the unknowns
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sparkly
#9 Posted : Saturday, September 03, 2016 12:57:19 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Bree wrote:
Any insights on Diamond? Guess its usually Agakhan associated. I keep thinking of jumping out, fear of the unknowns


Diamond iko sawa
Life is short. Live passionately.
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obiero
#10 Posted : Saturday, September 03, 2016 1:09:56 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,224
Location: nairobi
sparkly wrote:
Bree wrote:
Any insights on Diamond? Guess its usually Agakhan associated. I keep thinking of jumping out, fear of the unknowns


Diamond iko sawa

DTB is a strong bank. BBK Kenya is actually weaker
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