I believe in buying assets with your entire income then borrowing heavily to eat while the assets pay up. When the financial industry crashes eg chase you get a repayments holiday while your counterparts ponder suicide.

BOA is ok bana....

This is not news!


Any bank that has made a loss will be the subject of discussion and speculation. Never mind last yr was a difficult yr n most banks reported significant increment in bad loans. So you set aside part of your profits to cater for such loans until they are recovered n hence a loss/profit dip should be a normal outcome of any sound business.

What differentiates BOA from the rest is that its a PanAfrican Bank (BOA GROUP) and better still, an international group (BMCE).Subsidiaries of other Pan African banks like Eco bank and UBA have made losses for many years and yet they are OK. That's the strength of a group. FYI, BOA is way larger than even KCB and has prescence in 18 African countries plus France while BMCE, the parent owner with 75% ownership is among the largest in Africa.

What is the common factor in the banks under CBK met? Yes.... its poor CORPORATE GOVERNANCE!! Dubai Bank, Imperial Bank, Chase Bank all had one thing in common: Blatant disregard of best practice, credit procedures, accounting principles, Central bank regulations….and no offence but there are all dukawallahs!

BOA is a highly regulated bank where corporate governance is protected and preserved both at local level and at Group level.

Social media is here to stay and has enough space for facts....

My two friends spent most of the better part of Friday withdrawing their money. Ignorance is rife. These bloggers are behaving like the cops and mgt of Strathmore during their fake drill.

Banking is all about trust...That's what Njoroge Said Yesterday. If my Bank's Auditor issues a qualified opinion on the accounts like the case of Chase, I will withdraw every coin in that Bank. I will advise all my friends and relatives to do the same. An auditor does not just qualify the accounts just because of an issue to do with few coins. It is when the amounts involved is significant. When then you hear that a single director has borrowed over 7 Billion without security, that there is massive increase in NPL's, would you still let your hard earned cash remain with people who cannot be trusted? Is that Patriotism?