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


Joined: 12/4/2009
Posts: 10,786
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
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#742 Posted : Monday, October 09, 2017 1:23:44 PM
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Joined: 5/25/2012
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Pesa Nane plans to be shilingi when he grows up.
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KulaRaha
#743 Posted : Monday, October 09, 2017 1:25:53 PM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
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
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obiero
#744 Posted : Monday, October 09, 2017 4:37:14 PM
Rank: Elder


Joined: 6/23/2009
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Location: nairobi
Pesa Nane wrote:

The unsecured debt will have to be written off.. But a good development with SBM

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
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obiero
#745 Posted : Monday, October 09, 2017 4:38:52 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,890
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

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
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2012
#746 Posted : Saturday, November 11, 2017 11:23:09 AM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Is anyone in jail yet?

BBI will solve it :)
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Angelica _ann
#747 Posted : Saturday, November 11, 2017 1:05:28 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,927
2012 wrote:
Is anyone in jail yet?


This is Kenya!!!
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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murchr
#748 Posted : Saturday, November 11, 2017 4:01:42 PM
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Joined: 2/26/2012
Posts: 15,980
2012 wrote:
Is anyone in jail yet?


The Kenyan judiciary is the most corrupt institution
"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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Ericsson
#749 Posted : Saturday, November 11, 2017 5:51:32 PM
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Joined: 12/4/2009
Posts: 10,786
Location: NAIROBI
murchr wrote:
2012 wrote:
Is anyone in jail yet?


The Kenyan judiciary is the most corrupt institution


Wrong
Judiciary ain't the problem.The problem is the prosecution institution
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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murchr
#750 Posted : Saturday, November 11, 2017 6:23:56 PM
Rank: Elder


Joined: 2/26/2012
Posts: 15,980
Ericsson wrote:
murchr wrote:
2012 wrote:
Is anyone in jail yet?


The Kenyan judiciary is the most corrupt institution


Wrong
Judiciary ain't the problem.The problem is the prosecution institution



Bookmark this post, the case is in court 9 counts of fraud and other related charges. Khan has asked the court to block his prosecution, watch and see how they play it.
"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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Ericsson
#751 Posted : Thursday, January 04, 2018 12:40:37 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,786
Location: NAIROBI
https://www.businessdail...50364-ws425v/index.html

Money gone for sure
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#752 Posted : Friday, January 05, 2018 12:12:05 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,786
Location: NAIROBI
State Bank of Mauritius (SBM) Completes Chase Bank's purchase of select financial assets & liabilities along with most operating assets & infrastructure (branches, employees, IT etc).
CBK expected to give a statement before the end of today
Wealth is built through a relatively simple equation
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shiznit
#753 Posted : Friday, January 05, 2018 1:01:45 PM
Rank: New-farer


Joined: 5/21/2013
Posts: 72
Location: KENYA


Applause Applause Applause
“The market can remain irrational longer than you can remain solvent.” - John Maynard Keynes
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Bigchick
#754 Posted : Friday, January 05, 2018 7:39:14 PM
Rank: Elder


Joined: 2/8/2013
Posts: 4,068
Location: At Large.
shiznit wrote:


Applause Applause Applause



I don't understand.Someone please break it down for me.
Love is beautiful and so are those who share it.With Love, Marriage is an amazing event in ones life time, the foundation of joy, happiness and success.
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obiero
#755 Posted : Friday, January 05, 2018 7:55:59 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,890
Location: nairobi
obiero wrote:
Pesa Nane wrote:

The unsecured debt will have to be written off.. But a good development with SBM

This is excellent work by Governor Njoroge

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
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obiero
#756 Posted : Friday, January 05, 2018 7:59:05 PM
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Joined: 6/23/2009
Posts: 13,890
Location: nairobi
shiznit wrote:


Applause Applause Applause

Good stuff

COOP ABP 15.85; IMH ABP 35.55; KQ ABP 5.76; MTN ABP 5.20
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Wakanyugi
#757 Posted : Wednesday, January 10, 2018 10:08:25 AM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,635
Is anyone attending the Chase Bank depositors briefing at Crowne Plaza this morning?

If so can you please post a summary?

Thanks


Asking for friend
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Angelica _ann
#758 Posted : Wednesday, January 10, 2018 10:47:21 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,927
obiero wrote:
obiero wrote:
Pesa Nane wrote:

The unsecured debt will have to be written off.. But a good development with SBM

This is excellent work by Governor Njoroge

What Njoroge has done at CBK is amazing. It shows you that previously CBK was in cahoot with the hyenas. Keep it up.
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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KulaRaha
#759 Posted : Wednesday, January 10, 2018 12:59:38 PM
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Joined: 7/26/2007
Posts: 6,514
So what will depositors get back? Say I had 10M there?
Business opportunities are like buses,there's always another one coming
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maka
#760 Posted : Thursday, January 11, 2018 9:01:36 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Ericsson wrote:
murchr wrote:
2012 wrote:
Is anyone in jail yet?


The Kenyan judiciary is the most corrupt institution


Wrong
Judiciary ain't the problem.The problem is the prosecution institution



Both are bogus... This case wont go anywhere... Unless UK intervenes....
possunt quia posse videntur
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