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CBA buys Jamii Bora Bank for 1.4B
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newfarer
#21 Posted : Friday, January 11, 2019 4:47:46 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
at least they are buying.. not stealing like the tangawizi fellows
punda amecheka
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murchr
#22 Posted : Friday, January 11, 2019 4:50:29 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money element...mmmh!
"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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Gadaffi
#23 Posted : Friday, January 11, 2019 4:54:33 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
HFCK might be next in line..
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Wakanyugi
#24 Posted : Friday, January 11, 2019 6:14:12 PM
Rank: Veteran

Joined: 7/3/2007
Posts: 1,635
Gadaffi wrote:
HFCK might be next in line..
Wow! It looks like a major shakedown is underway in the Banking sector. We are likely to end up the Nigeria way - with no more than 15 big banks. I say carry on!
"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
#25 Posted : Friday, January 11, 2019 6:29:10 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,937
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!
Yap, they want to target high end client aka corporates & wakina swenani!!!
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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Ericsson
#26 Posted : Friday, January 11, 2019 8:17:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
The final decision to put a bank that is facing distress under administration should be returned to the regulator CBK and not the Treasury CS.
Wealth is built through a relatively simple equation Wealth=Income + Investments - Lifestyle
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jmbada
#27 Posted : Saturday, January 12, 2019 11:01:11 AM
Rank: Member

Joined: 1/1/2011
Posts: 396
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!
Yap, they want to target high end client aka corporates & wakina swenani!!!
There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.
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sparkly
#28 Posted : Saturday, January 12, 2019 12:42:38 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!
Yap, they want to target high end client aka corporates & wakina swenani!!!
There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.
Your opinion or fact? Link?
Life is short. Live passionately.
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VituVingiSana
#29 Posted : Sunday, January 13, 2019 9:37:19 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
Sober wrote:
jmbada wrote:
Ericsson wrote:
jmbada wrote:
Ericsson wrote:
The bank wasn't going to survive in the coming years.The owners are happy for that deal.
Pretty sure that there will be swift regulatory approval. May not bode well for the NIC deal though.
NIC deal will also go through.
Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop. My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.
I believe the NIC deal was handles more carefully because of the long relations betweet the 2 big families. Additionally the deal included the CMA and other small shareholders like me with 100 shares i.e publicly listed company. As for JBB, the deal can be equated to buying an item after a hawker flashing it to you on Tom Mboya Street as you head home one evening.
And that is a sober assessment. 1) JBB, unlike NIC, is not listed so the CMA isn't involved. 2) JBB is much smaller than NIC so Due Diligence can be completed sooner. 3) JBB has fewer shareholders (50%+) while NIC has Ndegwas with (officially) 25% + others.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Sunday, January 13, 2019 9:46 AM | Reason: Not specified
VituVingiSana
#30 Posted : Sunday, January 13, 2019 9:49:53 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,375
Location: Nairobi
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!
Yap, they want to target high end client aka corporates & wakina swenani!!!
There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.
Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up. BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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