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NIC Group FY17
Rank: Elder Joined: 12/7/2012 Posts: 11,908
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mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? Thanks tuko kwa mbus, always been!!! 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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Rank: Member Joined: 5/2/2018 Posts: 267
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mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on....
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Rank: Member Joined: 3/20/2008 Posts: 503
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Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... I sure as hell hope he put something meaningful into pockets as he planned. 
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... Not a single counter,the market is doing poorly "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 5/2/2018 Posts: 267
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mlennyma wrote:Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... Not a single counter,the market is doing poorly Let's hope the half-year financials will be kind. 
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Superprime1 wrote:mlennyma wrote:Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... Not a single counter,the market is doing poorly Let's hope the half-year financials will be kind. Pension schemes have shifted their money to treasury bills and bonds Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,506 Location: nairobi
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Ericsson wrote:Superprime1 wrote:mlennyma wrote:Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... Not a single counter,the market is doing poorly Let's hope the half-year financials will be kind. Pension schemes have shifted their money to treasury bills and bonds Went below KES 30 for the first time today in a while
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 5/2/2018 Posts: 267
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obiero wrote:Ericsson wrote:Superprime1 wrote:mlennyma wrote:Superprime1 wrote:mlennyma wrote:xxxxx wrote:This one will most likely fall back to where it was after books closure date. we will have put something in the pocket but i doubt ,you mean I wait at 33 where I boarded? @mlennyma You've got your answer today; it touched a low of 33.50. Perhaps coming down further. Some sort of a slaughtering going on.... Not a single counter,the market is doing poorly Let's hope the half-year financials will be kind. Pension schemes have shifted their money to treasury bills and bonds Went below KES 30 for the first time today in a while Looking to go lower, further, which is a good thing at this juncture. Blood in the streets; our own! Good thing for those with liquidity at their disposal.
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Rank: New-farer Joined: 2/8/2018 Posts: 73
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https://www.nation.co.ke...64414-b7wg4x/index.html
For a tier 2 bank, this losses may be quite heavy.
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Rank: Elder Joined: 6/23/2009 Posts: 13,506 Location: nairobi
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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
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 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: 13,506 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
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 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: 13,506 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
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 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: 13,506 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
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 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: 10,684 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: 10,684 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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