Realtreaty wrote:MaichBlack wrote:mlennyma wrote:enyands wrote:obiero wrote:enyands wrote:obiero wrote:Realtreaty wrote:when I said Co-op Bank is one of the best someone cut me down and put Equity and KCB. Now more are seeing this
Co-op is best bank stock, say analystsMy only worry is how Mwalimu sacco left if at all they left to Equitorial Bank they bought from Merali.
The Bank has been growing.
News for FY15 coming very soon- Mid to end March
The Mwalimu Sacco will not be successful in running to Equitorial.. Coop has institutional memory that cannot be replicated. Also, the bulk of teachers will not switch to a bank that doesnt have mobile banking, salary advances, check off loan capabilities..
It's a good counter but I think the management should quit the old ways of doing business .You know we can say how good husband is and all that, but bottom line is what does he bring on the table for the family to eat . We can praise how good coop bank is but bottom line is why hasn't the share ever rallied ?
The share rallied from KES 6 to KES 21.. Bonus shares issued are the primary cause of price stagnation
Well if I check my facts it had always 9 when the ipo was offered. Anyway I'll agree for now.
i don't like the introduction of agents in the banking halls,i have severally used my alternative accounts in other banks to avoid it.
They will DEFINITELY lose customers especially after the kick the agents out of the banking halls as the plan to do.
Imagine you want to deposit 500k. How many agents will you go to ukiambiwa "Hakuna float"! You might have to go to more than 10 agents to get all your money deposited!!! Will you feel safe going to an agent in the estate with 500k? Will the agent feel safe or be willing to accept 500k (even if he had the float) and keep it in his premises yet even the other customers are now aware of the transaction? Once you ask the agent (in front of everyone) "Naweza deposit 500k?" and he says no, are you sure you will ever reach the next agent with you 500k?? Are you willing to find out??
This forced agent biashara will backfire spectacularly. As long as other banks are accepting cash deposits, people will just move. Unless of course you are dealing with kidogo money!
Mboss weee, you can get pid through M-coopa thn ccepting hard cash from your debtors. Agents are there to simplify transactions for near and simple (lighter)monies that you cn easily get. The Agents can also deposit the money in your M-coopa account than give you cash. This is the essence and reduces Bank queing, bad hours etc. Equity nd M-pesa has used the same idea to rke in more customers and profits thereby creating more jobs.
Maich, tukutane Thursday evening tule mbuzi after the FY15 results. It will be favourable.
Western countries have a different mode of operations. They have lots of atms mpaka in convinient stores. They have branches but the same branches have few or 2 cashiers of which one of them is bank manager. Reasons:
1 their atms can accept checks and clear the same minute,also they accept and verify security features of cash to determine if it's fake.
BUT in kenya money has to placed in some specialised envelopes then deposited to atm and few atms operate like the ones abroad. Then you aren't sure if the money transfer agent will count right your money .
What if they tell you you have 1k less and in real sense your count was right ?
2 Security systems works abroad. Every corner you turn there is a working camera ,as you make transactions on atm there is a hidden camera on the computer screen of atm.So in actual sense you are getting your own mugshot without knowing.
BUT in here no such security systems and depositing 500k to an agent who the brother is the king of a local gang is a signing a death warrant on yourself
3 It will be hard to change the mentality of kenyans about banking halls . We love banking halls. We love seeing cashiers count our hard earned money behind those big glasses ,being served with a real person.So forcing us to go deal with coop jirani agent who I don't trust and I kopad mkate last year and haven't paid till today ,hoping to deposit 500k can be an uphill task.
McKinsey are from there abroad need to understand kenyan security systems and culture before shoving this idea down our throats like from where they come from . If I was man Gideon I would have introduced the 2 .As the other one is picking up I gradually reduce the tellers . For me this can take 4yrs to succeed .Let it be like weaning a baby to adult foods.
This bank really needs néw management.CEO has been there since I was in high school .It needs new blood ,new ideas .