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Ericsson
#291 Posted : Monday, July 17, 2017 7:21:27 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
obiero wrote:
Ericsson wrote:
Sidian Bank is dead.

Meaning?


Bank is bleeding money/into serious loss making
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#292 Posted : Monday, July 17, 2017 4:31:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Ericsson wrote:
obiero wrote:
Ericsson wrote:
Sidian Bank is dead.

Meaning?


Bank is bleeding money/into serious loss making

Bad timing for Centum which bought into Sidian not long ago. Tier 3 banks will have a tough time under the Interest Capping regime. The loss to Centum may be quantifiable i.e. loss of equity but there is "reputation risk" though there may be a partial value for the license.

SBM bought Fidelity. There are bidders for NBK, Chase, etc.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#293 Posted : Monday, July 17, 2017 5:50:48 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KRA rejecting bankers Cheques from Sidian Bank.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#294 Posted : Monday, July 17, 2017 7:00:15 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
Ericsson wrote:
KRA rejecting bankers Cheques from Sidian Bank.

No way.. Banker's cheques are drawn against confirmed cash holding

KQ ABP 4.26
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Angelica _ann
#295 Posted : Monday, July 17, 2017 7:06:30 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
obiero wrote:
Ericsson wrote:
KRA rejecting bankers Cheques from Sidian Bank.

No way.. Banker's cheques are drawn against confirmed cash holding


Heh heh heh smile smile 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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Kusadikika
#296 Posted : Monday, July 17, 2017 7:12:04 PM
Rank: Elder

Joined: 7/22/2008
Posts: 2,721
obiero wrote:
Ericsson wrote:
KRA rejecting bankers Cheques from Sidian Bank.

No way.. Banker's cheques are drawn against confirmed cash holding


Somebody please tell this is not true or that the rumor has not spread too far because even if it is not true and the rumor spreads far it will trigger a run of withdrawals and for a small bank like Sidian I do not think it can last one hour when everyone wants their money back.
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obiero
#297 Posted : Monday, July 17, 2017 7:30:02 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
Kusadikika wrote:
obiero wrote:
Ericsson wrote:
KRA rejecting bankers Cheques from Sidian Bank.

No way.. Banker's cheques are drawn against confirmed cash holding


Somebody please tell this is not true or that the rumor has not spread too far because even if it is not true and the rumor spreads far it will trigger a run of withdrawals and for a small bank like Sidian I do not think it can last one hour when everyone wants their money back.

The bank is struggling but banker's cheques in this country can simply not be unpaid, unless they are fraudulent

KQ ABP 4.26
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streetwise
#298 Posted : Monday, July 17, 2017 8:34:24 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Are they paying suppliers ama nikunakumatt style
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muandiwambeu
#299 Posted : Monday, July 17, 2017 11:24:40 PM
Rank: Veteran

Joined: 8/28/2015
Posts: 1,247
VituVingiSana wrote:
Ericsson wrote:
obiero wrote:
Ericsson wrote:
Sidian Bank is dead.

Meaning?


Bank is bleeding money/into serious loss making

Bad timing for Centum which bought into Sidian not long ago. Tier 3 banks will have a tough time under the Interest Capping regime. The loss to Centum may be quantifiable i.e. loss of equity but there is "reputation risk" though there may be a partial value for the license.

SBM bought Fidelity. There are bidders for NBK, Chase, etc.

Centum can spin off sidian at a loses and never look back over its shoulders. Who is doubting that? @vvs! No no no! Drool
,Behold, a sower went forth to sow;....
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alotoftalk
#300 Posted : Tuesday, July 18, 2017 12:25:50 AM
Rank: Member

Joined: 8/27/2015
Posts: 138
Location: Harare
Ericsson wrote:
Sidian Bank is dead.


Reminds me of my thinking from April 2016:

alotoftalk wrote:
Sidian maybe Centum's waterloo if they don't get a strategic partner to partner with them. They'll require to pump more capital every year to support any ambitions they have to grow the former K-Rep to a tier-two bank. This will either mean they have to raise more funds by exiting their current holdings or a cash call in the near future at a time when banking returns are not as rosy as they have been the past 10 years.

Unless the strategy here is to make it M&A attractive and get a bigger bank to buy them out.


Let's see if they'll mark its value down in the H1 or maintain a lofty valuation in their books.

Chances are they're already shopping for a buyer. Any of those banks which were lining up to buy Chase Bank may receive a call with an alternative proposition.
Investment philosophy development in progress...
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