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mwanahisa
#131 Posted : Saturday, July 02, 2011 11:44:17 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Mainat, what's your source for this info. I am in no doubt regarding BBK & SCBK given their proclivity for corporate activity and forex funding requirements for their Multinational clients.

But KCB? I actually spoke to some senior honcho over there and he seemed to suggest that they were not part of that clique...and I thought he should know.

Mainat wrote:
Interesting- the 4 banks that CBK warned were- BBK, KCB, Stanchart and........................................................................................

Equity!

Something going with this bank. The other day I read that after Citibank/Stnachart gave up being the bankers for the Linyan investors in Kenya (LAICO, Oil Libya) et al due to sanctions, Equity picked up the business.
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Gordon Gekko
#132 Posted : Saturday, July 02, 2011 11:50:52 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
@mwanahisa, would you honestly expect the honcho to confess that they are up to no good? I'm not saying that KCB is innocent.
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mwanahisa
#133 Posted : Saturday, July 02, 2011 12:03:07 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
In this particular case, Yes, as I was asking the question in a different capacity. In any event, much as Njuguna has all over this issue, he has not given any indication that what the clique of banks have been doing is illegal.

While one can argue about the morality of their profiteering, we as shareholders of these banks have given their management the mandate to make money for us and the more merrier.

Gordon Gekko wrote:
@mwanahisa, would you honestly expect the honcho to confess that they are up to no good? I'm not saying that KCB is innocent.
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mwanahisa
#134 Posted : Saturday, July 02, 2011 7:16:18 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
@Mainat, this story appears to disqualify both KCB and Equity from the list...

http://www.theeastafrica...0/-/h7yo2u/-/index.html

According to the story, the Prof stated an investigation into trading trends conducted by the Central Bank had revealed three things

Reason no. 3 was that the positions are largely associated with their group companies overseas. Both KCB and EB only have small subsidiaries in Eastern Africa which would not qualify them in this group. In my view, in addition to SCB & BBK, the other two would most likely be Citi and CFC Stanbic which traditionally also derive a bigger proportion of their income from forex trading as opposed to our big 2 home grown banks.

I stand to be corrected all the same, but just let know the source(s) of your info.

Mainat wrote:
Interesting- the 4 banks that CBK warned were- BBK, KCB, Stanchart and........................................................................................

Equity!

Something going with this bank. The other day I read that after Citibank/Stnachart gave up being the bankers for the Linyan investors in Kenya (LAICO, Oil Libya) et al due to sanctions, Equity picked up the business.
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Cde Monomotapa
#135 Posted : Saturday, July 02, 2011 8:31:02 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
the deal wrote:
Cde Monomotapa wrote:
Ati KCB part of the big 4? Wololo..tihihi. Forex income should be over 1B in Q2 then smile

Hehehe this coming from someone who said name and shame them....hehehe shame on KCB for arbitraging the CBK and pouring misery on Kenyans...

Tihihi. hic*
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FUNKY
#136 Posted : Monday, July 04, 2011 10:10:33 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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Mainat
#137 Posted : Wednesday, August 17, 2011 12:11:53 AM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
BDA has now confirmed who Ndung'u was warning about their fx trading. Interesting line up.
Equity has been getting a lot of Fx-related business thru its statehouse links. Also its regional business is all in fx. as is Co-op.

http://bit.ly/pKdDiV
Sehemu ndio nyumba
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muganda
#138 Posted : Thursday, August 18, 2011 1:21:40 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
New day for USD KES

What with the liquidity Oooh so tight, and CBK discount window rate at 17.89%, and a clear direction downwards

Check the graph http://www.xe.com/currencychart...&to=KES&view=12h and there's a new sheriff in town. But why oh why CBK did it take you so long...



It's a new dawn
It's a new day
It's a new life
For me
And I'm feeling good
http://www.youtube.com/watch?v=JjtcOpM2vzU
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