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Mwalimu Sacco buys 51pc of ECB
hisah
#21 Posted : Wednesday, July 06, 2016 11:32:09 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
murchr wrote:
hisah wrote:
hisah wrote:
Ericsson wrote:
@Sober
SOber up gava has stopped the transaction to allow further probe.The sacco might be buying an empty shell

Merali to cede control of the bank? Fishy deal. A particular sacco was wanjikud so will read a future headline.

That didn't take long...

Equatorial Commercial Bank loss after tax stands at Sh326.4m
Quote:
The bank said it set aside a total of Sh880.8 million to cover bad debts, a 915 per cent jump from the Sh87 million it set aside over a similar period the previous year.


Hope mwalimu sacco knows how to swim in shark infested waters.

This NPL shadowy animal still lingers in the KE banking sector. Risk departments at the banks are on toes if their models are right. Caging that animal is taking extra effort...


I've been waiting for this bombshell, i believe this is not all...

It's interesting how the NPL drama has unravel one year later as the bad loans come home to roost and tanked the banking stocks.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
kawi254
#22 Posted : Monday, September 07, 2020 6:37:01 PM
Rank: Member


Joined: 2/20/2015
Posts: 384
Location: Nairobi
Borrowers default 90pc of Spire Bank loan book

Mwalimu Sacco was warned here back in 2015 not to go to bed with Naushad Merali.
Ericsson
#23 Posted : Tuesday, September 08, 2020 12:24:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,882
Location: NAIROBI
kawi254 wrote:
Borrowers default 90pc of Spire Bank loan book

Mwalimu Sacco was warned here back in 2015 not to go to bed with Naushad Merali.


Options now is to either shutdown due to non-compliance with statutory ratios or be acquired at bei ya jioni
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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