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Eye on I&M ...
Rank: Veteran Joined: 8/25/2012 Posts: 1,826
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sparkly wrote:obiero wrote:sparkly wrote:obiero wrote:sparkly wrote:obiero wrote:VituVingiSana wrote:The last kicks of a dying horse. Watu wa Othaya walipe deni.  Dr. Opus doesn't want upus! At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high. We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy Bank takes money from depositors, lends the depositors money to borrowers. It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK. No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services If you can't repay, don't borrow. If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren. hapo hauja tuenjoy, ama ni just a quote.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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sitaki.kujulikana wrote:sparkly wrote:obiero wrote:sparkly wrote:obiero wrote:sparkly wrote:obiero wrote:VituVingiSana wrote:The last kicks of a dying horse. Watu wa Othaya walipe deni. Dr. Opus doesn't want upus! At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high. We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy Bank takes money from depositors, lends the depositors money to borrowers. It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK. No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services If you can't repay, don't borrow. If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren. hapo hauja tuenjoy, ama ni just a quote. You can quote me  Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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3 houses at 100mn each = 300mn 2 of the 3 units have been auctioned. All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/1/2009 Posts: 1,882
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VituVingiSana wrote:3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back. they can't have the houses anymore if it is true they were lawfully auctioned
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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mkenyan wrote:VituVingiSana wrote:3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back. they can't have the houses anymore if it is true they were lawfully auctioned If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers. At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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VituVingiSana wrote:mkenyan wrote:VituVingiSana wrote:3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back. they can't have the houses anymore if it is true they were lawfully auctioned If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers. At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses. "Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held." Pesa Nane plans to be shilingi when he grows up.
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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Pesa Nane wrote:VituVingiSana wrote:mkenyan wrote:VituVingiSana wrote:3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back. they can't have the houses anymore if it is true they were lawfully auctioned If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers. At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses. "Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held." Well, the good news for Watu Wa Othaya is they now owe less than what they did.  Win-Win Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: New-farer Joined: 12/23/2018 Posts: 38 Location: germany
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Certainly one of the options is to make repayments of debt and get free from this situation. However, I am still not sure if all important information are publicly disclosed, so making any sort of predictions what could happen at the end would be too enthusiastic
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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49 bob per share
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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obiero wrote:49 bob per share And PROFITABLE. And pays a dividend. #respect 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: 13,472 Location: nairobi
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VituVingiSana wrote:obiero wrote:49 bob per share And PROFITABLE. And pays a dividend. #respect COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:49 bob per share And PROFITABLE. And pays a dividend. #respect COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS U guys need to hug this out. 🤦🏽♂️🤦🏽♂️
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:49 bob per share And PROFITABLE. And pays a dividend. #respect COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value. Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 4/15/2008 Posts: 190
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VituVingiSana wrote: YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option Do it today! Tomorrow is promise to no-one.
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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mufasa wrote:VituVingiSana wrote: YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option CENTUM = BERNIE MADOFF https://boingboing.net/2...16/worse-than-enron.html
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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mufasa wrote:VituVingiSana wrote: YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option Well, I guess than you are right and Mr. Warren Buffett and Mr. Charles Munger are wrong as regards the linearity of earnings. “Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.” - Warren Buffett On transparency, management quality and integrity... I agree. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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obiero wrote:mufasa wrote:VituVingiSana wrote: YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option CENTUM = BERNIE MADOFF https://boingboing.net/2...6/worse-than-enron.html Anyway, back to I&M. You have been "speaking in code" for years about I&M. In the meantime, the PAT (like other good banks) is on the up and up. A few down Qs are expected. Some loans will go bad. It's part of the business. It's a marathon and not a sprint. obiero wrote:VituVingiSana wrote:Ericsson wrote:This time banks have taken long to release HY results Cooking? Or Dr. Opus isn't allowing funny business? There’s no single tier 1 or 2 listed bank that cooks nowadays. The brown guy was warned about possible loss of license http://wazua.co.ke/forum...amp;m=879452#post879452 #2017 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: 13,472 Location: nairobi
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VituVingiSana wrote:obiero wrote:mufasa wrote:VituVingiSana wrote: YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low. For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option CENTUM = BERNIE MADOFF https://boingboing.net/2...6/worse-than-enron.html Anyway, back to I&M. You have been "speaking in code" for years about I&M. In the meantime, the PAT (like other good banks) is on the up and up. A few down Qs are expected. Some loans will go bad. It's part of the business. It's a marathon and not a sprint. obiero wrote:VituVingiSana wrote:Ericsson wrote:This time banks have taken long to release HY results Cooking? Or Dr. Opus isn't allowing funny business? There’s no single tier 1 or 2 listed bank that cooks nowadays. The brown guy was warned about possible loss of license http://wazua.co.ke/forum...amp;m=879452#post879452 #2017 Hehe.. Clutching on straws
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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Tanzania fines five banks for lax anti-money laundering controlsTanzania’s central bank said on Monday it had fined five commercial banks over $800,000 (Sh83 million) for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector. The Bank of Tanzania (BoT) said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).” I&M Bank was slapped with the biggest fine at TSh655 million (Ksh29.62 million),followed by Equity Bank (TSh580 million),UBL Bank (Tsh325 million), Habib African Bank (Tsh175 million) and African Banking Corporation (Tsh145 million). https://www.businessdail...84128-29oynm/index.html
@vvs what is? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,049 Location: Nairobi
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Ericsson wrote:Tanzania fines five banks for lax anti-money laundering controlsTanzania’s central bank said on Monday it had fined five commercial banks over $800,000 (Sh83 million) for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector. The Bank of Tanzania (BoT) said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).” I&M Bank was slapped with the biggest fine at TSh655 million (Ksh29.62 million),followed by Equity Bank (TSh580 million),UBL Bank (Tsh325 million), Habib African Bank (Tsh175 million) and African Banking Corporation (Tsh145 million). https://www.businessdail...84128-29oynm/index.html
@vvs what is? I have no idea. Doesn't sound good. Perhaps a question to be asked at the AGM or Investor Briefing. Or in private. The amount is not huge but the action against the banks is worrisome. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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