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KCB running Chase Bank (in receivership)
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DBLyon
#131 Posted : Wednesday, April 27, 2016 3:42:40 PM
Rank: Member

Joined: 5/28/2014
Posts: 149
Location: Nairobi
KulaRaha wrote:
Meanwhile if Dr. Opus Dei had listened to Chase's plea for liquidity, billions of depositor funds would today be available.

Don't overhype the guy.


That liquidity issue saving Chase Bank...all hype...all PR. Even the said governor threw them a few PR lines. The real story on the ground...Chase Bank has had quite some rot for a long time. Integrity issues galore. Don't believe everything you see in the press.
When you live for others' opinions, you are dead.

- Carlos Slim Helu
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muganda
#132 Posted : Wednesday, April 27, 2016 3:52:21 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
DBLyon wrote:
KulaRaha wrote:
Meanwhile if Dr. Opus Dei had listened to Chase's plea for liquidity, billions of depositor funds would today be available.

Don't overhype the guy.


That liquidity issue saving Chase Bank...all hype...all PR. Even the said governor threw them a few PR lines. The real story on the ground...Chase Bank has had quite some rot for a long time. Integrity issues galore. Don't believe everything you see in the press.

@DBLyon, I'm with you on this. Although @KulaRaha's point is also a point. It was a tough tough decision.

Okay not sure what the word on the street is, but this communique shows banks do a lot more than we realise.




It would take a hell of a lot of courage to deposit new funds into Chase Bank at this time, good feelings and all, especially if you had another account with another bank.
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  | | Edit by moderator: Wednesday, April 27, 2016 4:06 PM | Reason: url corrected for user
Obi 1 Kanobi
#133 Posted : Wednesday, April 27, 2016 4:20:05 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
Impunity wrote:
KulaRaha wrote:
Ethiteri wrote:
alma1 wrote:
Impunity wrote:
KulaRaha wrote:
Opening day...wonder what will happen today.


Mad-rush...like Campus Fresher's mad rush!

Bank run likely in small village branches.



What is a bank run a village branch mean?

Of course there shall be long lines at the bank today. People haven't seen their cash for 3 weeks. The clever ones are using mfukoni its working.

If we are talking about it kesho, then its good to go. Today is when most of the money shall be taken out especially by businesses that need to pay their employees and suppliers. That is not unexpected.



And am sure CBK/KCB had anticipated this and made plans for ensure all small time depositors can get their cash if they need it.I believe that was the reasoning behind the 1M limit.

Meanwhile the Heads that were rumoured to have rolled jana were true.

Director of HR,Director of Operations and Director of Iman Banking.The one who released youth fund to Bruce Odhiambo and company.


Deos this mean all those guys were involved in looting the bank? How sad.


Collateral baby!



I hear there's also a mass exodus of senior employees to Sidian.

By the time KCB actually tables a proposal, they will be demanding for management feesmile
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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murchr
#134 Posted : Wednesday, April 27, 2016 4:34:04 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Obi 1 Kanobi wrote:
Impunity wrote:
KulaRaha wrote:
Ethiteri wrote:
alma1 wrote:
Impunity wrote:
KulaRaha wrote:
Opening day...wonder what will happen today.


Mad-rush...like Campus Fresher's mad rush!

Bank run likely in small village branches.



What is a bank run a village branch mean?

Of course there shall be long lines at the bank today. People haven't seen their cash for 3 weeks. The clever ones are using mfukoni its working.

If we are talking about it kesho, then its good to go. Today is when most of the money shall be taken out especially by businesses that need to pay their employees and suppliers. That is not unexpected.



And am sure CBK/KCB had anticipated this and made plans for ensure all small time depositors can get their cash if they need it.I believe that was the reasoning behind the 1M limit.

Meanwhile the Heads that were rumoured to have rolled jana were true.

Director of HR,Director of Operations and Director of Iman Banking.The one who released youth fund to Bruce Odhiambo and company.


Deos this mean all those guys were involved in looting the bank? How sad.


Collateral baby!



I hear there's also a mass exodus of senior employees to Sidian.

By the time KCB actually tables a proposal, they will be demanding for management feesmile


An employee jumping from chase to sidian is like jumping out of the frying pan to the fire. Banking is driven by perception and confidence. Keep watching as Chase thrives.
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Ethiteri
#135 Posted : Wednesday, April 27, 2016 5:39:10 PM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
murchr wrote:
Obi 1 Kanobi wrote:
Impunity wrote:
KulaRaha wrote:
Ethiteri wrote:
alma1 wrote:
Impunity wrote:
KulaRaha wrote:
Opening day...wonder what will happen today.


Mad-rush...like Campus Fresher's mad rush!

Bank run likely in small village branches.



What is a bank run a village branch mean?

Of course there shall be long lines at the bank today. People haven't seen their cash for 3 weeks. The clever ones are using mfukoni its working.

If we are talking about it kesho, then its good to go. Today is when most of the money shall be taken out especially by businesses that need to pay their employees and suppliers. That is not unexpected.



And am sure CBK/KCB had anticipated this and made plans for ensure all small time depositors can get their cash if they need it.I believe that was the reasoning behind the 1M limit.

Meanwhile the Heads that were rumoured to have rolled jana were true.

Director of HR,Director of Operations and Director of Iman Banking.The one who released youth fund to Bruce Odhiambo and company.


Deos this mean all those guys were involved in looting the bank? How sad.


Collateral baby!



I hear there's also a mass exodus of senior employees to Sidian.

By the time KCB actually tables a proposal, they will be demanding for management feesmile


An employee jumping from chase to sidian is like jumping out of the frying pan to the fire. Banking is driven by perception and confidence. Keep watching as Chase thrives.



So Sidian has no qualms employing Snr Mgt who were part of the rot at Chase.I wish them well...time will tell.
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alma1
#136 Posted : Wednesday, April 27, 2016 5:47:54 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Most of the people commenting here are not actual chase account holders. So I shall help you out a bit.

I was at chase today and I did not shut down my account and move on to another bank.

Actually I don't know of even 1 PERSON who has closed their accounts. I do know of a few who did not even bother go to the bank today.

I have said here that if the bank is up tomorrow morning then up on Monday, then on Wednesday, please don't bother carrying out its funeral rites. Many of us aren't moving to your "safe" banks.

We are mostly business people so we don know shit happens sometimes

I don't want to sound like an abused wife but maybe its time Kenyan businesses learned that there is actual capital in something called investing in relationships with your customers.

Guys were expecting a bank run today, only to discover that there weren't even any lines in my own branch. So lets wait for the KCB guys to figure out the extent of the rot tonight as they will have a very clear picture of the finances tonight.
Thieves are not good people. Tumeelewana?
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Ethiteri
#137 Posted : Wednesday, April 27, 2016 5:48:23 PM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
KulaRaha wrote:
Meanwhile if Dr. Opus Dei had listened to Chase's plea for liquidity, billions of depositor funds would today be available.

Don't overhype the guy.



He had listened from last year in October and could listen no more without any action from the slimy directors and some employees.Why do I say employees,they are the ones who took loans beyond their ability to pay and never paid.Those sweet chicks of @Alma with Salos of circa 80k had loans of over 5M. How on earth were they to pay those loans and maintain 1/3 of net.

Daktari did the right thing to cut the rot before it consumed everybody.
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obiero
#138 Posted : Wednesday, April 27, 2016 6:01:26 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,220
Location: nairobi
maka wrote:
Ericsson wrote:
Why is KCB share tanking?


Sad Sad

I know the answer to that swali

KQ ABP 4.26
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alma1
#139 Posted : Wednesday, April 27, 2016 6:03:12 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Ethiteri wrote:
KulaRaha wrote:
Meanwhile if Dr. Opus Dei had listened to Chase's plea for liquidity, billions of depositor funds would today be available.

Don't overhype the guy.



He had listened from last year in October and could listen no more without any action from the slimy directors and some employees.Why do I say employees,they are the ones who took loans beyond their ability to pay and never paid.Those sweet chicks of @Alma with Salos of circa 80k had loans of over 5M. How on earth were they to pay those loans and maintain 1/3 of net.

Daktari did the right thing to cut the rot before it consumed everybody.




To be honest with you those stories of yellow yellows are stories I heard after the bank collapse. I never met them. My managers were men and we used to meet anywhere but not the bank. Talk about customer service. Sad really, I never got to meet them.

I'm still waiting for people to go to jail on this one.

As for a bank taking over, what do you think is a better asset for a bank than employees who owe more than they can pay? You can have that fellow working for you forever. smile smile

Let's wait and see the exact money woes next week. If KCB has not shut them down by next week, then expect and exodus. Not from Chase but from others to chase.

I just haven't seen people as happy to be in a pathetic bank as I saw today. The smiles were still there and the hellos. If that is gloom, please bring it on.

Let us see what the governor can do because for sure, you want confidence in the money market for a government to thrive.
Thieves are not good people. Tumeelewana?
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Ericsson
#140 Posted : Wednesday, April 27, 2016 6:58:44 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
@Obiero
I know one is the book closure of the cash dividend and script dividend that is coming very soon.
Give your reasons
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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