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KCB running Chase Bank (in receivership)
Ethiteri
#141 Posted : Wednesday, April 27, 2016 7:08:42 PM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
alma1 wrote:
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.


@Alma you are the face of Chase defenders in this republik of Wazua.That Chase had Yellow yellows it automatically follows what attracted you there.

Anyhow,Take no offence,its more of a joke.
alma1
#142 Posted : Wednesday, April 27, 2016 7:16:30 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Ethiteri wrote:
alma1 wrote:
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.


@Alma you are the face of Chase defenders in this republik of Wazua.That Chase had Yellow yellows it automatically follows what attracted you there.

Anyhow,Take no offence,its more of a joke.


Laughing out loudly Laughing out loudly To be honest with you, I seriously never saw them.

No I'm not a Chase defender. I don't defend those that steal. But this story was interesting as I believe someone was intentionally killing a bank that had proven that customer care actually means seeming to care for the customer.

If it fails, banks will continue with their aged processes where clients are just money.

As you can see I support their employees, yes. But I'm still one of the few still asking what the thieves in this bank are still doing walking in the streets of Nairobi.

I'm just hoping this is not put under a Kenyan rug too.

otherwise guys like me shall seek alternatives. That doesn't mean we shall bank in another Kenyan bank.
Thieves are not good people. Tumeelewana?

enyands
#143 Posted : Wednesday, April 27, 2016 7:52:59 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
alma1 wrote:
Ethiteri wrote:
alma1 wrote:
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.


@Alma you are the face of Chase defenders in this republik of Wazua.That Chase had Yellow yellows it automatically follows what attracted you there.

Anyhow,Take no offence,its more of a joke.


Laughing out loudly Laughing out loudly To be honest with you, I seriously never saw them.

No I'm not a Chase defender. I don't defend those that steal. But this story was interesting as I believe someone was intentionally killing a bank that had proven that customer care actually means seeming to care for the customer.

If it fails, banks will continue with their aged processes where clients are just money.

As you can see I support their employees, yes. But I'm still one of the few still asking what the thieves in this bank are still doing walking in the streets of Nairobi.

I'm just hoping this is not put under a Kenyan rug too.

otherwise guys like me shall seek alternatives. That doesn't mean we shall bank in another Kenyan bank.



Give credit where its due .this is a herd of sheep guarded by a pack of hyenas. Good banks are usually tried to be destroyed by some unknown forces . Equity when started once had people talk trash. I know chase will come stronger than ever before
KulaRaha
#144 Posted : Thursday, April 28, 2016 8:37:44 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
@alma1, you say you're not moving from Chase, so just explain a few things to a simple mind like mine:

- You can't issue cheques or rtgs, how will you make payments to others?
- you dont earn interest on your deposit, but you loan accrues interest. Is that ok?
- You have no access to your overdraft, how will you operate?

I'm all for the love etc, but some of these are basic banking functions.
Business opportunities are like buses,there's always another one coming
Ethiteri
#145 Posted : Thursday, April 28, 2016 9:27:59 AM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
KulaRaha wrote:
@alma1, you say you're not moving from Chase, so just explain a few things to a simple mind like mine:

- You can't issue cheques or rtgs, how will you make payments to others?
- you dont earn interest on your deposit, but you loan accrues interest. Is that ok?
- You have no access to your overdraft, how will you operate?

I'm all for the love etc, but some of these are basic banking functions.



The bank is under receivership.So its not normal banking.Its really about collecting what is out there and paying depositors their money.

The move to open was meant to restore public confidence in banking sector otherwise things were going south.Lots of foreign investors were doing so through Chase and their confidence in Kenya has to be restored.

Oh an to you if you have a loan at Chase.The receiver will run you out of town if you default even for 1 day.

For sentimental value keep your account,for business please open an account in another bank.
Swenani
#146 Posted : Thursday, April 28, 2016 10:33:14 AM
Rank: User

Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
Ethiteri wrote:
KulaRaha wrote:
@alma1, you say you're not moving from Chase, so just explain a few things to a simple mind like mine:

- You can't issue cheques or rtgs, how will you make payments to others?
- you dont earn interest on your deposit, but you loan accrues interest. Is that ok?
- You have no access to your overdraft, how will you operate?

I'm all for the love etc, but some of these are basic banking functions.



The bank is under receivership.So its not normal banking.Its really about collecting what is out there and paying depositors their money.

The move to open was meant to restore public confidence in banking sector otherwise things were going south.Lots of foreign investors were doing so through Chase and their confidence in Kenya has to be restored.

Oh an to you if you have a loan at Chase.The receiver will run you out of town if you default even for 1 day.

For sentimental value keep your account,for business please open an account in another bank.


@Ethiteri, you are now advising people to move their money after you got a job at sidian?

Ni sawa tu!
If Obiero did it, Who Am I?
alma1
#147 Posted : Thursday, April 28, 2016 11:07:49 AM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Swenani wrote:
Ethiteri wrote:
KulaRaha wrote:
@alma1, you say you're not moving from Chase, so just explain a few things to a simple mind like mine:

- You can't issue cheques or rtgs, how will you make payments to others?
- you dont earn interest on your deposit, but you loan accrues interest. Is that ok?
- You have no access to your overdraft, how will you operate?

I'm all for the love etc, but some of these are basic banking functions.



The bank is under receivership.So its not normal banking.Its really about collecting what is out there and paying depositors their money.

The move to open was meant to restore public confidence in banking sector otherwise things were going south.Lots of foreign investors were doing so through Chase and their confidence in Kenya has to be restored.

Oh an to you if you have a loan at Chase.The receiver will run you out of town if you default even for 1 day.

For sentimental value keep your account,for business please open an account in another bank.


@Ethiteri, you are now advising people to move their money after you got a job at sidian?

Ni sawa tu!


Ethiteri wants us to move to Sidian and that ain't happening. In fact his rumors are just that rumors.

KulaRaha

The bank is still in receivership. No one would allow all the services to resume as normal on day 1. That would be failing in fiduciary duty.

KCB and CBK need to know the extent of the rot.

It's like when you buy a cow from Githunguri farm and expect it to give you 50lts on day 1 after you move it to your farm.

That's hallucinating. The cow needs to get used to its new sorroundings and the funny sounding chicken at 3am.

So yes some of the services are not back. That is normal and should be the case.

But as soon as KCB gets an understanding of the systems and the rot in there, they are well withing their duty to stop all services.

I have a mole who's suggested cheque clearing starts next week. My moles are useless usually so don't believe them.

But obviously you can't expect a bank to continue for a month without forex and cheque clearing. If a month passes then start panicking. Before then be happy because it means KCB isn't going to be hoodwinked into giving out cheques for non-existent accounts.

So yes Kularaha we are a bit sentimental but we as I had explained earlier are also business people. We know tough days and good days. I expect all the employed shall run away. the SME's shall stay at least most of them.

In short, its like they are starting a whole new bank with whoever shall remain.
Thieves are not good people. Tumeelewana?

Ethiteri
#148 Posted : Thursday, April 28, 2016 11:36:17 AM
Rank: Member

Joined: 2/4/2016
Posts: 175
Location: Global
Swenani wrote:
Ethiteri wrote:
KulaRaha wrote:
@alma1, you say you're not moving from Chase, so just explain a few things to a simple mind like mine:

- You can't issue cheques or rtgs, how will you make payments to others?
- you dont earn interest on your deposit, but you loan accrues interest. Is that ok?
- You have no access to your overdraft, how will you operate?

I'm all for the love etc, but some of these are basic banking functions.



The bank is under receivership.So its not normal banking.Its really about collecting what is out there and paying depositors their money.

The move to open was meant to restore public confidence in banking sector otherwise things were going south.Lots of foreign investors were doing so through Chase and their confidence in Kenya has to be restored.

Oh an to you if you have a loan at Chase.The receiver will run you out of town if you default even for 1 day.

For sentimental value keep your account,for business please open an account in another bank.


@Ethiteri, you are now advising people to move their money after you got a job at sidian?

Ni sawa tu!



No no Laughing out loudly Laughing out loudly

I am not at Sidian.@Muchr said such a move is akin to "From frying pan to fire".

And please read my post,It says open an account in another bank.

In my view cheque clearing will take some time as its dependant on Chase Banks balances at CBK which at the moment are 0.For business people more so SMEs if you are not able yo get loans,overdrafts etc then you have no business in that bank.

Lakini we wait and see.We all want Chase Bank to succeed.
alma1
#149 Posted : Thursday, April 28, 2016 11:45:51 AM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Actually Etitheri my mole is now 80% right. He'll be 100% right when this is officially done

In an interview with the Star last evening, KCB Group CEO Joshua Oigara said the lender which was closed two weeks ago will begin clearing cheques next week.

http://www.the-star.co.k...ces-back-today_c1338863

Rather than dwell on imaginations, all I know is that none of my friends in that bank are moving. Of course that doesn't mean that we bank 100% with the bank at this time.

But you surely not meeting a hoard of elephants running away from a fire at the bank and entering Sidian. Hizo ni pepo tu.Laughing out loudly Laughing out loudly
Thieves are not good people. Tumeelewana?

Much Know
#150 Posted : Thursday, April 28, 2016 12:05:29 PM
Rank: Elder

Joined: 12/6/2008
Posts: 3,579
"In an interview with the Star last evening, KCB Group CEO Joshua Oigara said the lender which was closed two weeks ago will begin clearing cheques next week. Chase Bank's mobile banking service Mfukoni will also be availed today. However, customers will only be able to check their balances and not withdraw cash."
d'oh! Kudungwa shindano ya maji nayo!
Ras Kienyeji Man
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