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NIC Group FY17
Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating
KQ ABP 4.26
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well Emirates was set up in 1985. Apple introduced the iPhone decades after Motorola/Nokia. Equity became a bank juzu juzi. Execution is key. Can Barclays/Absa execute? Anyway, this is a NIC thread. NIC took a huge NPL hit (7bn?) after James Macharia left and the new guy came in. New brooms sweep clean. That will help them weather the storm since NIC started making provisions early on. Recoveries can help cushion new losses. Banks should use this opportunity (IFSR9, post-election malaise, interest rate cap) to look at every loan and use prudence to NPL any loan that seems shaky. Where possible, take the tax benefit of providing for shaky loans. If and when collections are made, these can be written back as profits. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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VituVingiSana wrote:obiero wrote:mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well Emirates was set up in 1985. Apple introduced the iPhone decades after Motorola/Nokia. Equity became a bank juzu juzi. Execution is key. Can Barclays/Absa execute? Anyway, this is a NIC thread. NIC took a huge NPL hit (7bn?) after James Macharia left and the new guy came in. New brooms sweep clean. That will help them weather the storm since NIC started making provisions early on. Recoveries can help cushion new losses. Banks should use this opportunity (IFSR9, post-election malaise, interest rate cap) to look at every loan and use prudence to NPL any loan that seems shaky. Where possible, take the tax benefit of providing for shaky loans. If and when collections are made, these can be written back as profits. The whole ABF model is questionable as executed by NIC as its mainstay. Look at the auction notices
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well Emirates was set up in 1985. Apple introduced the iPhone decades after Motorola/Nokia. Equity became a bank juzu juzi. Execution is key. Can Barclays/Absa execute? Anyway, this is a NIC thread. NIC took a huge NPL hit (7bn?) after James Macharia left and the new guy came in. New brooms sweep clean. That will help them weather the storm since NIC started making provisions early on. Recoveries can help cushion new losses. Banks should use this opportunity (IFSR9, post-election malaise, interest rate cap) to look at every loan and use prudence to NPL any loan that seems shaky. Where possible, take the tax benefit of providing for shaky loans. If and when collections are made, these can be written back as profits. The whole ABF model is questionable as executed by NIC as its mainstay. Look at the auction notices It's a tough one for NIC and other banks. It depends on how much ABF they do. There will always be defaults even when things are good but in the scenario, I hope NIC asks for a substantial deposit/down-payment. Given that GoK is not paying (genuine) suppliers, NIC needs to reduce lending to GoK contractors/suppliers and (sadly) crack down on those who owe them money. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:VituVingiSana wrote:obiero wrote:mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well Emirates was set up in 1985. Apple introduced the iPhone decades after Motorola/Nokia. Equity became a bank juzu juzi. Execution is key. Can Barclays/Absa execute? Anyway, this is a NIC thread. NIC took a huge NPL hit (7bn?) after James Macharia left and the new guy came in. New brooms sweep clean. That will help them weather the storm since NIC started making provisions early on. Recoveries can help cushion new losses. Banks should use this opportunity (IFSR9, post-election malaise, interest rate cap) to look at every loan and use prudence to NPL any loan that seems shaky. Where possible, take the tax benefit of providing for shaky loans. If and when collections are made, these can be written back as profits. The whole ABF model is questionable as executed by NIC as its mainstay. Look at the auction notices Correct and spot on Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ericsson wrote:obiero wrote:VituVingiSana wrote:obiero wrote:mlennyma wrote:obiero wrote:Ericsson wrote:obiero wrote:RIEK01 wrote:https://www.nation.co.ke/news/How-competition-drove-vehicle-firm-Foton-East-Africa-to-debts/1056-4764414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy. I keep telling you guys not to touch any bank apart from the big ones namely KCB, EQTY, COOP, DTB, STANCHART What about Barclays bank? I personally wouldn't consider it. Does it even have a mobile lending service offering or agency banking?? It seems stuck in time while others are innovating Barclays have a recently launched lending application called Timiza which clocked 2.7million users in 5months I’m hearing it for the first time from you.. I wish them well Emirates was set up in 1985. Apple introduced the iPhone decades after Motorola/Nokia. Equity became a bank juzu juzi. Execution is key. Can Barclays/Absa execute? Anyway, this is a NIC thread. NIC took a huge NPL hit (7bn?) after James Macharia left and the new guy came in. New brooms sweep clean. That will help them weather the storm since NIC started making provisions early on. Recoveries can help cushion new losses. Banks should use this opportunity (IFSR9, post-election malaise, interest rate cap) to look at every loan and use prudence to NPL any loan that seems shaky. Where possible, take the tax benefit of providing for shaky loans. If and when collections are made, these can be written back as profits. The whole ABF model is questionable as executed by NIC as its mainstay. Look at the auction notices Correct and spot on https://www.nic-bank.com...les-on-auction/page/22/
22 pages.. 6 vehicles per page... possunt quia posse videntur
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Jeez this bank is suffering on loan defaultments Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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