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Stanbic 2019
Ericsson
#1 Posted : Monday, July 29, 2019 12:08:50 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,734
Location: NAIROBI
Stanbic Bank targets 200 employees in layoff plan

Up to 200 employees of Stanbic Bank are facing layoffs under an early retirement scheme intended to cut payroll costs for the lender.

The employees were given terms of the voluntary retirement plan about two weeks ago, with the lender citing digitisation as the major reason for the job cuts.

All permanent and pensionable employees of the bank are eligible for the plan, as per terms of the redundancy scheme seen by the Business Daily.

The early retirement plan presented to the staff shows that those taking up the severance option will get an "ex-gratia payment calculated at the rate of 1.5 month’s salary for each completed year of service in recognition of the service rendered to the bank by the employee."

This is in addition to the pay in lieu of notice and compensation for unused leave days.
The lender has also offered employees signing up for the layoff plan a 25 per cent rebate or discount on the balance of any outstanding staff loans settled immediately upon exit.

The exiting employees will continue repaying their loans on staff interest rates for a period of six months, after which the outstanding amounts will revert to commercial terms.

They will also be allowed to remain on the bank’s medical scheme until the end of the year, with an option of opting out and getting paid the equivalent of the cost of the insurance to the bank.

https://www.businessdail...4450-13vntorz/index.html
FUNKY
#2 Posted : Friday, August 02, 2019 10:10:29 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,560
Ericsson
#3 Posted : Thursday, August 08, 2019 7:55:13 AM
Rank: Elder


Joined: 12/4/2009
Posts: 7,734
Location: NAIROBI
HY results announcement ongoing
The group which consists of the Kenya bank,South Sudan branch, SBG Securities and Stanbic Insurance Agency limited recorded a Ksh.4.1bn profit from last year's ksh.3.6bn
Loan book grew by 19% from ksh.136.5bn last year to ksh.161.9bn
Customer deposits increased by 20% to close at ksh.201.6bn against ksh.167.3bn last year
cyruskulei
#4 Posted : Thursday, August 08, 2019 9:15:33 AM
Rank: Member


Joined: 3/9/2010
Posts: 204
Location: kenya
Ericsson wrote:
HY results announcement ongoing
The group which consists of the Kenya bank,South Sudan branch, SBG Securities and Stanbic Insurance Agency limited recorded a Ksh.4.1bn profit from last year's ksh.3.6bn
Loan book grew by 19% from ksh.136.5bn last year to ksh.161.9bn
Customer deposits increased by 20% to close at ksh.201.6bn against ksh.167.3bn last year



Link: https://www.nse.co.ke/li...year-ended-30-june-2019
Work hard at your job and you can make a living. Work hard on yourself and you can make a fortune.

VituVingiSana
#5 Posted : Thursday, August 08, 2019 9:18:50 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,584
Location: Nairobi
Is there a breakdown per unit?
KE, SS, SBG, etc
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#6 Posted : Thursday, August 08, 2019 9:21:06 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,584
Location: Nairobi
Good Results but I want to look at the breakdown.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#7 Posted : Thursday, November 28, 2019 4:02:15 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,420
Location: Enk are Nyirobi
Price holding steady. Now at 112. I am tempted to sell...
Life is short. Live passionately.
VituVingiSana
#8 Posted : Thursday, November 28, 2019 6:59:44 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,584
Location: Nairobi
sparkly wrote:
Price holding steady. Now at 112. I am tempted to sell...
I don't trust the South Africans. They may use the 50% takeover rule to buy us out for a pittance! d'oh!

Now a fair buyout price would be welcomed! Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#9 Posted : Friday, November 29, 2019 8:46:33 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,420
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
Price holding steady. Now at 112. I am tempted to sell...
I don't trust the South Africans. They may use the 50% takeover rule to buy us out for a pittance! d'oh!

Now a fair buyout price would be welcomed! Laughing out loudly


Also don't trust the South Africans. Secondly, a buyout in a bear market cannot be fair to minorities.
Life is short. Live passionately.
VituVingiSana
#10 Posted : Friday, November 29, 2019 10:29:09 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,584
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
Price holding steady. Now at 112. I am tempted to sell...
I don't trust the South Africans. They may use the 50% takeover rule to buy us out for a pittance! d'oh!

Now a fair buyout price would be welcomed! Laughing out loudly


Also don't trust the South Africans. Secondly, a buyout in a bear market cannot be fair to minorities.
KK was fair. It was not as much as I would have liked - 40/- Laughing out loudly Laughing out loudly Laughing out loudly - but it was fair at 23 unlike Unga at 40.

If SAHL offers me 150/- anytime during 2020, they can have my shares!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#11 Posted : Monday, December 02, 2019 1:05:19 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,420
Location: Enk are Nyirobi
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
Price holding steady. Now at 112. I am tempted to sell...
I don't trust the South Africans. They may use the 50% takeover rule to buy us out for a pittance! d'oh!

Now a fair buyout price would be welcomed! Laughing out loudly


Also don't trust the South Africans. Secondly, a buyout in a bear market cannot be fair to minorities.
KK was fair. It was not as much as I would have liked - 40/- Laughing out loudly Laughing out loudly Laughing out loudly - but it was fair at 23 unlike Unga at 40.

If SAHL offers me 150/- anytime during 2020, they can have my shares!


SAHL are mean. Their offer last time was KShs 92. A sweet voiced lady from SBG called me, tried to convince me to sell at that "very generous offer price" smile smile
Life is short. Live passionately.
VituVingiSana
#12 Posted : Monday, December 02, 2019 7:03:46 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,584
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
VituVingiSana wrote:
sparkly wrote:
Price holding steady. Now at 112. I am tempted to sell...
I don't trust the South Africans. They may use the 50% takeover rule to buy us out for a pittance! d'oh!

Now a fair buyout price would be welcomed! Laughing out loudly


Also don't trust the South Africans. Secondly, a buyout in a bear market cannot be fair to minorities.
KK was fair. It was not as much as I would have liked - 40/- Laughing out loudly Laughing out loudly Laughing out loudly - but it was fair at 23 unlike Unga at 40.

If SAHL offers me 150/- anytime during 2020, they can have my shares!

SAHL are mean. Their offer last time was KShs 92. A sweet voiced lady from SBG called me, tried to convince me to sell at that "very generous offer price" smile smile
I told them not to call me after they called me the second time!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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