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Potential merger NIC + CBA
Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. It is normal business for banks to realise collateral through statutory sales. The normal business of banks is: 1. Take deposits from depositors; 2. Lend to borrowers with sufficient collateral; 3. Realize collateral if borrower defaults. No. 3 is therefore normal business, not unusual occurence. Life is short. Live passionately.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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sparkly wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. It is normal business for banks to realise collateral through statutory sales. The normal business of banks is: 1. Take deposits from depositors; 2. Lend to borrowers with sufficient collateral; 3. Realize collateral if borrower defaults. No. 3 is therefore normal business, not unusual occurence. What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes. Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends  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: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Angelica _ann wrote:sparkly wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. It is normal business for banks to realise collateral through statutory sales. The normal business of banks is: 1. Take deposits from depositors; 2. Lend to borrowers with sufficient collateral; 3. Realize collateral if borrower defaults. No. 3 is therefore normal business, not unusual occurence. What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes. Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends - Or maybe more aggressive in recovery. Remember they are heavy on asset finance. - DY is crap but capital gains ok, as long as your buy in 20-30 range and sell in 40-50 range Life is short. Live passionately.
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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so apparently no dividends
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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heri wrote:so apparently no dividends Who said Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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Ericsson wrote:heri wrote:so apparently no dividends Who said Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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heri wrote:Ericsson wrote:heri wrote:so apparently no dividends Who said Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10 In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 3/20/2008 Posts: 503
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VituVingiSana wrote:heri wrote:Ericsson wrote:heri wrote:so apparently no dividends Who said Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10 In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders. They should sell their bonus shares  . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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xxxxx wrote:VituVingiSana wrote:heri wrote:Ericsson wrote:heri wrote:so apparently no dividends Who said Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10 In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders. They should sell their bonus shares . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends But there is no significant difference. Why even give bonus shares? Just sell existing shares. Just an example: Assume NCBA has 100,000 shares 1000 shares = 1% shareholding 1,100 (after bonus) = 1% shareholding (of 110,000 shares) In both the above cases, the shareholder can sell some (100) of his shares for cash. The bonus is a waste of time. 1000-100 = 900 shares = 0.9% shareholding (of 100,000 shares) 1,100 - 100 = 1,000 shares = 0.91% shareholding (of 110,000 shares) Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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VituVingiSana wrote:xxxxx wrote:VituVingiSana wrote:heri wrote:Ericsson wrote:heri wrote:so apparently no dividends Who said Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10 In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders. They should sell their bonus shares . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends But there is no significant difference. Why even give bonus shares? Just sell existing shares. Just an example: Assume NCBA has 100,000 shares 1000 shares = 1% shareholding 1,100 (after bonus) = 1% shareholding (of 110,000 shares) In both the above cases, the shareholder can sell some (100) of his shares for cash. The bonus is a waste of time. 1000-100 = 900 shares = 0.9% shareholding (of 100,000 shares) 1,100 - 100 = 1,000 shares = 0.91% shareholding (of 110,000 shares) There is a roughly 8/- EPS for a 28/- stock. Still looks good in the grand scheme of things.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Yes Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Yes How? 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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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Yes How? [/quote The first to cancel FY cash dividends Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Yes How? [/quote The first to cancel FY cash dividends Probably based on Opus Dei opinion/advisory/directive on shareholder's approval of dividends before payment. 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: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Angelica _ann wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:NIC was reckless in the way it was dishing out loans Did you work for NIC? I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.Under Gachora, NIC did rather poorly compared to peers like I&M and DTB. Then how did you know they made a large bad loan every week? Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved. That should mean 52 for the past year. I googled but couldn't find 52. Help me out. Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide. Any different from most other large banks? Yes How? The first to cancel FY cash dividends The thread was discussing auctions and loans not dividends. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi
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Is the counter still trading cum bonus?
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Rank: Member Joined: 9/14/2011 Posts: 834 Location: nairobi
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Were the bonus shares credited ?
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Rank: Member Joined: 3/16/2019 Posts: 313
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Bank of Uganda (BoU) gives go ahead to NC , CBA mergerQuote:“BoU has issued a letter of no objection to the proposed business [merger] of NC Bank and Commercial Bank of Africa,” the notice signed by Mr Sam Ntulume, the NC Bank managing director and Mr Anthony Ndegwa, the CBA chief executive officer, reads in part. Quote:The merger is expected to give the two banks an edge that is likely to build a relatively large financial base.
NC Bank recovered from a Shs4.3b loss for the period ended December 2018 to post Shs3b in profits in 2019 while CBA made a loss of Shs10.4b in 2019 from a Shs567m profit in 2018.
NC Bank is a subsidiary of the National Industrial Credit Bank (NIC).
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Rank: Chief Joined: 1/3/2007 Posts: 18,098 Location: Nairobi
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kmucheke wrote:Bank of Uganda (BoU) gives go ahead to NC , CBA mergerQuote:“BoU has issued a letter of no objection to the proposed business [merger] of NC Bank and Commercial Bank of Africa,” the notice signed by Mr Sam Ntulume, the NC Bank managing director and Mr Anthony Ndegwa, the CBA chief executive officer, reads in part. Quote:The merger is expected to give the two banks an edge that is likely to build a relatively large financial base.
NC Bank recovered from a Shs4.3b loss for the period ended December 2018 to post Shs3b in profits in 2019 while CBA made a loss of Shs10.4b in 2019 from a Shs567m profit in 2018.
NC Bank is a subsidiary of the National Industrial Credit Bank (NIC). The joint entity will remain much smaller than Stanbic (UG) and dfcu. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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