wazua Tue, Oct 17, 2017
Welcome Guest Search | Active Topics | Log In | Register

38 Pages«<363738
Chase Bank loss...another case of cooking the books?
Ericsson
#741 Posted : Monday, October 09, 2017 11:46:13 AM
Rank: Elder


Joined: 12/4/2009
Posts: 3,592
Location: NAIROBI
"What will be left of Chase Bank will be a shell with Sh19 billion of loans mostly unpaid. Shareholders and management deposits will be stuck in the insolvent shell as well as its creditors including bondholders."

Read more at: https://www.standardmedi...ry-picks-premium-assets

Investment and insurance companies which bought into chase bank bond will have to write off the amount
Pesa Nane
#742 Posted : Monday, October 09, 2017 1:23:44 PM
Rank: Elder


Joined: 5/25/2012
Posts: 3,343
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
KulaRaha
#743 Posted : Monday, October 09, 2017 1:25:53 PM
Rank: Elder


Joined: 7/26/2007
Posts: 5,955
Now we shall see how serious KDIC is...the rubber will soon hit the road!
Business opportunities are like buses,there's always another one coming
obiero
#744 Posted : Monday, October 09, 2017 4:37:14 PM
Rank: Elder


Joined: 6/23/2009
Posts: 7,116
Location: nairobi
Pesa Nane wrote:

The unsecured debt will have to be written off.. But a good development with SBM
one thing that's certain is that there's uncertainty at the NSE and stocks hate uncertainty
obiero
#745 Posted : Monday, October 09, 2017 4:38:52 PM
Rank: Elder


Joined: 6/23/2009
Posts: 7,116
Location: nairobi
muganda wrote:
Bigchick wrote:
There has been a story about SBM taking only the good book.Sorry am yet to get my tutorials on how to put a link here.It was in the Standard on Sato.

Would like to hear more ftom experts here.


Must loudly wonder about the denial many engaged in when CBK governor brought the farce to judgement - 12 institutions (3 local, 4 foreign, 5 consortiums) all gave up after taking a closer look at Chase Bank's ugliness!
https://www.standardmedi...ry-picks-premium-assets

Good Bank - SBM
57bn in performing loans
57bn in deposits
- quarter in current account
- quarter in savings account
- half in 7% term deposit maturing in 3 installments over 3 years

Bad Bank - CBK
35bn hole, awaiting court cases, made up of:
20bn guys who stopped paying after receivership
15bn management assets frozen



There's hope
one thing that's certain is that there's uncertainty at the NSE and stocks hate uncertainty
Users browsing this topic
Guest (3)
38 Pages«<363738
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Copyright © 2017 Wazua.co.ke. All Rights Reserved.