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Sidian Bank Ltd
enyands
#11 Posted : Thursday, August 04, 2016 10:38:10 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
He told the National Assembly’s Public Accounts Committee (PAC) that four other managers at Sidian Bank, formerly known as K-Rep, are undergoing tests that the CBK is undertaking to ascertain whether that they are fit to hold office.

banks fines 3m because of involvement with NYS SAGA
murchr
#12 Posted : Monday, October 24, 2016 7:32:48 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Sidian Bank, majority owned by investment firm Centum, has announced a new voluntary retirement plan targeting 108 staff as it moves to trim its payroll.
"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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Angelica _ann
#13 Posted : Monday, October 24, 2016 7:43:39 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,937

This was bound to happen after Centum takeover and its re-branding. They kind of had majority of employees still old skul type earning handsomely because of longevity.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Surething
#14 Posted : Tuesday, October 25, 2016 12:32:15 AM
Rank: New-farer

Joined: 7/12/2016
Posts: 39
Location: Nairobi
Worked for this bank a for few years in the early 00's. Hard to imagine it was once bigger that Equity, had one MD Kimanthi Mutua for ages and a very conservative philosophy when it came to innovations and got badly left behind.

Were still insisting on SME group lending when Equity was poaching it's customers with the enducement of individual SME loans and then embarked on a disastrous restructuring experiment whose legacy was the move of HQ from Kawangware to Hurlingham with a veiw to attract well heeled clients, that saw It make a mixture of subdued profits & small losses for a decade or so while their peers were making supernormal profits setting the stage for politically connected centum to eventually come in with its own set of challenges (Read NYS loot deposits)
VituVingiSana
#15 Posted : Thursday, August 22, 2019 12:38:55 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,371
Location: Nairobi
Sidian claws back from losses on loans growth
https://www.businessdail...44230-ak2nkr/index.html

“As part of the financing agreement, IFU will have the option within the first three years, to convert the outstanding principal loan into equity which will translate to shareholding of approximately 20 percent of the bank,” said Sidian Bank board chairman and Centum CEO James Mworia.

>>> The loan is for Shs 1.2bn. A small profit but a profit nonetheless. Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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