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Coop Bank FY17
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VituVingiSana
#11 Posted : Thursday, May 10, 2018 4:28:54 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html

“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017.

Meanwhile Frank Ireri is making 64mn https://www.businessdail...550492-d4ehf6/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mikanjoroge
#12 Posted : Thursday, May 10, 2018 11:42:33 PM
Rank: New-farer

Joined: 6/13/2016
Posts: 47
Location: kenya
VituVingiSana wrote:
[quote=Ericsson]https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html

“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017.

Meanwhile Frank Ireri is making 64mn https://www.businessdail...50492-d4ehf6/index.html[/quote]


Let me understand this. HFCK has borrowed 800 million at the maximum interest rates of 14%. And CEO gets paid 64 million. Where can I apply for this job?
That means 8% of the loan is for 1 person's salary? How much are directors, senior managers e.t.c paid?
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  | | Edit by user: Thursday, May 10, 2018 11:44 PM | Reason: Not specified
VituVingiSana
#13 Posted : Thursday, May 10, 2018 11:48:02 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
mikanjoroge wrote:
VituVingiSana wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html

“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017.

Meanwhile Frank Ireri is making 64mn https://www.businessdail...50492-d4ehf6/index.html



Let me understand this. HFCK has borrowed 800 million at the maximum interest rates of 14%. And CEO gets paid 64 million. Where can I apply for this job?
That means 8% of the loan is for 1 person's salary? How much are directors, senior managers e.t.c paid?

The compensation system is really screwed up!
"At Sh64.4 million, his pay is equivalent to 51 per cent of HF’s net profit in the year ended December."

And now back to Coop!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, May 10, 2018 11:51 PM | Reason: Not specified
Ericsson
#14 Posted : Friday, May 11, 2018 9:29:35 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Realtreaty
#15 Posted : Saturday, May 12, 2018 1:49:18 PM
Rank: Elder

Joined: 8/16/2011
Posts: 2,386
Ericsson wrote:
Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution


Reason I earlier mentioned that this stock price should be with its peers KCB, Equity or above.

Let see it run towards 50!!!!smile
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Ericsson
#16 Posted : Thursday, May 17, 2018 8:20:14 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Realtreaty wrote:
Ericsson wrote:
Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution


Reason I earlier mentioned that this stock price should be with its peers KCB, Equity or above.

Let see it run towards 50!!!!smile


Solid company.Doubled my investment in less than 5 years excluding dividends.
Journey now towards tripling
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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sparkly
#17 Posted : Thursday, May 17, 2018 9:28:42 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Ericsson wrote:
Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution


Exactly how did it scoop these awards?

I left the bank some years back because I couldn't get a personal chequeing account and couldn't stand their queues.
Life is short. Live passionately.
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Ericsson
#18 Posted : Tuesday, May 22, 2018 8:12:00 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Dividend book closure pushed to 30 May 2018
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Angelica _ann
#19 Posted : Tuesday, May 22, 2018 8:17:29 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Ericsson wrote:
Dividend book closure pushed to 30 May 2018


Any reason why?
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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winmak
#20 Posted : Wednesday, May 23, 2018 8:29:41 AM
Rank: Member

Joined: 12/1/2007
Posts: 539
Location: Nakuru
Angelica _ann wrote:
Ericsson wrote:
Dividend book closure pushed to 30 May 2018


Any reason why?


Possibly to postpone the inevitable price drop that comes after, especially now that the index is on a dive
For investors as a whole, returns decrease as motion increases ~ WB
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