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Potential merger NIC + CBA
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VituVingiSana
#201 Posted : Tuesday, January 21, 2020 9:48:59 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.
Any different from most other large banks?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#202 Posted : Wednesday, January 22, 2020 6:49:17 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.
Life is short. Live passionately.
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  | | Edit by user: Wednesday, January 22, 2020 6:58 PM | Reason: Not specified
Angelica _ann
#203 Posted : Thursday, January 23, 2020 11:03:20 AM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
sparkly wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.


What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes.

Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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sparkly
#204 Posted : Sunday, January 26, 2020 4:32:32 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Angelica _ann wrote:
sparkly wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Another defaulter https://www.businessdail...684-10j6im0z/index.html but the good news is there's progress in making a recovery.


NIC was reckless in the way it was dishing out loans
Did you work for NIC?
I don't need to work to see NIC every week in loans gone sour such as Kaluworks aka non-performing loans.

Under Gachora, NIC did rather poorly compared to peers like I&M and DTB.

Then how did you know they made a large bad loan every week?

Every week we read in the press and social media about a loan deal gone sour and NIC bank was involved.
That should mean 52 for the past year. I googled but couldn't find 52. Help me out.


Every Monday Graham Auctioneers & Leakey Stores....... NIC lazima & location is countrywide.


It is normal business for banks to realise collateral through statutory sales. The normal business of banks is:

1. Take deposits from depositors;
2. Lend to borrowers with sufficient collateral;
3. Realize collateral if borrower defaults.

No. 3 is therefore normal business, not unusual occurence.


What we highlighted is that for NIC, there no. 3 activities is 'higher' than peers in the adverts. Kind of shows an issue or challenge in their lending processes.

Disclaimer: Was inside for so long but left just before the last rights issue. Was tired with 0.25 cents interim & final dividends smile


- Or maybe more aggressive in recovery. Remember they are heavy on asset finance.

- DY is crap but capital gains ok, as long as your buy in 20-30 range and sell in 40-50 range

Life is short. Live passionately.
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heri
#205 Posted : Tuesday, April 21, 2020 11:46:39 AM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
so apparently no dividends
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Ericsson
#206 Posted : Tuesday, April 21, 2020 4:16:22 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
heri wrote:
so apparently no dividends

Who said
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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heri
#207 Posted : Tuesday, April 21, 2020 5:36:01 PM
Rank: Member

Joined: 9/14/2011
Posts: 869
Location: nairobi
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said


Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
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VituVingiSana
#208 Posted : Wednesday, April 22, 2020 5:49:49 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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xxxxx
#209 Posted : Wednesday, April 22, 2020 6:00:48 PM
Rank: Member

Joined: 3/20/2008
Posts: 503
VituVingiSana wrote:
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.


They should sell their bonus sharesLaughing out loudly Laughing out loudly smile . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
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VituVingiSana
#210 Posted : Wednesday, April 22, 2020 8:24:34 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
xxxxx wrote:
VituVingiSana wrote:
heri wrote:
Ericsson wrote:
heri wrote:
so apparently no dividends

Who said

Sorry i meant no cash dividends. Board is now proposing a bonus issue 1:10
In other words, no dividend. A bonus is not a dividend. Zero cashflow for shareholders.


They should sell their bonus sharesLaughing out loudly Laughing out loudly smile . I've always felt that anyone investing in this counter must prioritize capital gains as opposed to dividends anyway. They have always been MEAN on dividends
Laughing out loudly Laughing out loudly Laughing out loudly But there is no significant difference. Why even give bonus shares? Just sell existing shares.

Just an example:
Assume NCBA has 100,000 shares

1000 shares = 1% shareholding
1,100 (after bonus) = 1% shareholding (of 110,000 shares)

In both the above cases, the shareholder can sell some (100) of his shares for cash. The bonus is a waste of time.

1000-100 = 900 shares = 0.9% shareholding (of 100,000 shares)
1,100 - 100 = 1,000 shares = 0.91% shareholding (of 110,000 shares)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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