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KCB running Chase Bank (in receivership)
Rank: Elder Joined: 6/23/2009 Posts: 13,503 Location: nairobi
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mlennyma wrote:You need to be very bold to deposit any money here,the first month will be hell withdrawal CBK is virtually a bottomless pit. The run will be met
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Wakanyugi wrote:Swenani wrote:Wakanyugi wrote:muganda wrote:The big questions:1. Which depositors don't interpret this as a call to MOVE funds? Including via online and mobile banking come Wednesday? 2. Do the hefty depositors locked in, 64bn in 5,000 accounts, who obviously have relations with more than one bank, agree to move to KCB? There is a good reason why banks record depositors on the debit column (beyond accounting practice). The real value to KCB is in the loan portfolio and especially the SME customers that Chase has attracted over the years. These ones are much harder to move. For the long term, some value could come from the brand but I don't think KCB will want a competing brand in its stable. Remember the challenges they have had over the years in integrating Savings and Loan, which is their baby. What is the reason? In most cases, you will find that total net book value is usually less than total custom deposits, the bank cannot only be interested in loan book at the expenses of deposits since the later determines the former When you deposit money in an account the Bank considers it a loan that you can often call back any time. So it goes to the liability column. But when you borrow money from a bank, the logic is reversed. To the Banker, you are now the gift that keeps on giving. Of course I am not a banker...but akina Kula Raha wanaweza kuchangia huu mjadala. What you have explained above is the accounting practise, In your post, you stated there is another reason beyond the accounting practice-That's what I was waiting to hear/read If Obiero did it, Who Am I?
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Obi 1 Kanobi wrote:instinct wrote:murchr wrote:obiero wrote:To the new farers. kcb purchase is mental. Now, wanjiku wld bet KCB to be safest as per CBK nod of approval Thought so too, don't see a commitment. Its all good anyway. they've been given a chance to go peep before committing They will take their time to pick the carcas of what remains of Chase Bank, woo all the good and juicy customers as they learn what attracted them to Chase. When done, they will simply let go off the remainder of the shell and declare it unsalvageable. Take on the good employees and prime locations and rebrand them as KCB. Smart move by KCB and CBK. No one looses out other than the dodgy Chase shareholders I also think this is what will happen. Rebranding is a must to cleanse the lost image of chase. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 7/3/2007 Posts: 1,634
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Swenani wrote:Wakanyugi wrote:Swenani wrote:Wakanyugi wrote:muganda wrote:The big questions:1. Which depositors don't interpret this as a call to MOVE funds? Including via online and mobile banking come Wednesday? 2. Do the hefty depositors locked in, 64bn in 5,000 accounts, who obviously have relations with more than one bank, agree to move to KCB? There is a good reason why banks record depositors on the debit column (beyond accounting practice). The real value to KCB is in the loan portfolio and especially the SME customers that Chase has attracted over the years. These ones are much harder to move. For the long term, some value could come from the brand but I don't think KCB will want a competing brand in its stable. Remember the challenges they have had over the years in integrating Savings and Loan, which is their baby. What is the reason? In most cases, you will find that total net book value is usually less than total custom deposits, the bank cannot only be interested in loan book at the expenses of deposits since the later determines the former When you deposit money in an account the Bank considers it a loan that you can often call back any time. So it goes to the liability column. But when you borrow money from a bank, the logic is reversed. To the Banker, you are now the gift that keeps on giving. Of course I am not a banker...but akina Kula Raha wanaweza kuchangia huu mjadala. What you have explained above is the accounting practise, In your post, you stated there is another reason beyond the accounting practice-That's what I was waiting to hear/read Asi! Swenani, na wewe ni aye. It was a finger of speech "The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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Rank: User Joined: 8/15/2013 Posts: 13,237 Location: Vacuum
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Kumbe the acquisition was made in self interestQuote:KCB Group risked losing Sh1 billion it lent a customer in the form of trade credit guaranteed by Chase Bank, an investment bank said in a report that offers new insights into why Kenya’s biggest bank entered the takeover race for the troubled lender. If Obiero did it, Who Am I?
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. "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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Rank: Member Joined: 2/4/2016 Posts: 175 Location: Global
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I hear Sidian has bagged most of the "hot mamas" akina maka have been salivating for.
Hope they do the Chase Magic at Sidian.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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You can beat DJ when it comes to beauty and hot mamas Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Thieves are not good people. Tumeelewana?
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. "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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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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murchr wrote:enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. Enyands they are singing because if you want a group of employees who can make you do the impossible, these are the ones. Whoever the HR is in this company should take a bow. I would back them to succeed anytime over KCB. Wouldn't you? They just need to get good godammed directors. Thieves are not good people. Tumeelewana?
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Rank: Veteran Joined: 4/27/2010 Posts: 951 Location: Nyumbani
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Just like Dr Mwangi said about Technology in Equity, banking jobs will be left for a very few. Those tellers will dissapear. You will not need a teller to withdraw or deposit.Machines will replace people.It has happened here and you pop into a bank, a receptionist who does everything like giving out new cards ama checkbooks.The rest work with appointments.This will be the case in Kenya, checking account balance online is/will be possible book appointment for a kaloan, withdraw hapo nje,deposit.
Actually in Kenya it might turn out in a very different way coz of mobile banking.
Let the employees dance for now
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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alma1 wrote:murchr wrote:enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. Enyands they are singing because if you want a group of employees who can make you do the impossible, these are the ones. Whoever the HR is in this company should take a bow. I would back them to succeed anytime over KCB. Wouldn't you? They just need to get good godammed directors. I agree @murchr and alma1. From what I know is if there is a team of employees that can do a group dance or group social activity together turn, swoop legs and shuffle too ,then it means that there is a serious harmony in this team. These are people who can carry challenges as a team. You can tell that from their body language .hope some HR can take note of this.im curious now to go open an account with chase bank and get the experience
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Rank: Member Joined: 2/4/2016 Posts: 175 Location: Global
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enyands wrote:alma1 wrote:murchr wrote:enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. Enyands they are singing because if you want a group of employees who can make you do the impossible, these are the ones. Whoever the HR is in this company should take a bow. I would back them to succeed anytime over KCB. Wouldn't you? They just need to get good godammed directors. I agree @murchr and alma1. From what I know is if there is a team of employees that can do a group dance or group social activity together turn, swoop legs and shuffle too ,then it means that there is a serious harmony in this team. These are people who can carry challenges as a team. You can tell that from their body language .hope some HR can take note of this.im curious now to go open an account with chase bank and get the experience As someone with some insights about Chase,I can tell you its about the Chase Culture.It was incalcated in you from the time you are employed. Dressing,mannerisms,etticate and team work. Chasewoman was in a class of its own,they had a Stillheto Club where they would meet once a quarter for women talk and bring in women who have made it to talk to the ladies.And the talks were themed in terms of dressing.I must admit many ladies got polished there. So doing a random routine dance becomes easy as they all think the same kind off. It worked well for them in terms of bringing @ Maka and all in. Shida is that behind all that glow amd glammer there was something rotting at the top Greed will kill us.
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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Ethiteri wrote:enyands wrote:alma1 wrote:murchr wrote:enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. Enyands they are singing because if you want a group of employees who can make you do the impossible, these are the ones. Whoever the HR is in this company should take a bow. I would back them to succeed anytime over KCB. Wouldn't you? They just need to get good godammed directors. I agree @murchr and alma1. From what I know is if there is a team of employees that can do a group dance or group social activity together turn, swoop legs and shuffle too ,then it means that there is a serious harmony in this team. These are people who can carry challenges as a team. You can tell that from their body language .hope some HR can take note of this.im curious now to go open an account with chase bank and get the experience As someone with some insights about Chase,I can tell you its about the Chase Culture.It was incalcated in you from the time you are employed. Dressing,mannerisms,etticate and team work. Chasewoman was in a class of its own,they had a Stillheto Club where they would meet once a quarter for women talk and bring in women who have made it to talk to the ladies.And the talks were themed in terms of dressing.I must admit many ladies got polished there. So doing a random routine dance becomes easy as they all think the same kind off. It worked well for them in terms of bringing @ Maka and all in. Shida is that behind all that glow amd glammer there was something rotting at the top Greed will kill us. I knew it .group dances never just come easy like that .it needs synchrony and harmony .you can't do a group dance with someone you constantly fight . Thanks Ethiteri . The social meeting they have outside work is what bonds them . I'll be opening an account in august .bye bye ushirika benki 
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ethiteri wrote:enyands wrote:alma1 wrote:murchr wrote:enyands wrote:alma1 wrote:murchr wrote:Ericsson wrote:KCB now says within the next 3 months or 90 days after the re-opening of Chase Bank they will do due diligence to know what good assets exists and the value to be placed before making a final conclusion on acquiring majority stake in the lender Chase is about to be turned into a garage. If KCB acquires it, layoffs will follow, in both KCB and Chase. Then some assets will be disposed. That is such sad news. Can you imagine the long faces of KCB employees in a Chase bank? Ehh. These guys are doing a group dance about a Christian music. Why? Are they happy to have chase opened or are they dancing for intervention from above for extra strength to stand the tough times ahead? Just asking Those long faces will need to go. There's so much talk about how good the customer service at Chase was am sure Oigara has taken note, if I was a KCB customer service rep, I'd be very worried now, with most banks closing branches due to technology, only the finest will remain. Enyands they are singing because if you want a group of employees who can make you do the impossible, these are the ones. Whoever the HR is in this company should take a bow. I would back them to succeed anytime over KCB. Wouldn't you? They just need to get good godammed directors. I agree @murchr and alma1. From what I know is if there is a team of employees that can do a group dance or group social activity together turn, swoop legs and shuffle too ,then it means that there is a serious harmony in this team. These are people who can carry challenges as a team. You can tell that from their body language .hope some HR can take note of this.im curious now to go open an account with chase bank and get the experience As someone with some insights about Chase,I can tell you its about the Chase Culture.It was incalcated in you from the time you are employed. Dressing,mannerisms,etticate and team work. Chasewoman was in a class of its own,they had a Stillheto Club where they would meet once a quarter for women talk and bring in women who have made it to talk to the ladies.And the talks were themed in terms of dressing.I must admit many ladies got polished there. So doing a random routine dance becomes easy as they all think the same kind off. It worked well for them in terms of bringing @ Maka and all in. Shida is that behind all that glow amd glammer there was something rotting at the top Greed will kill us. Genghis Capital  possunt quia posse videntur
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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kiash wrote:Just like Dr Mwangi said about Technology in Equity, banking jobs will be left for a very few. Those tellers will dissapear. You will not need a teller to withdraw or deposit.Machines will replace people.It has happened here and you pop into a bank, a receptionist who does everything like giving out new cards ama checkbooks.The rest work with appointments.This will be the case in Kenya, checking account balance online is/will be possible book appointment for a kaloan, withdraw hapo nje,deposit.
Actually in Kenya it might turn out in a very different way coz of mobile banking.
Let the employees dance for now Yes Bank tellers will be a job of the past. Customer care reps will be needed tho, not everyone is computer literate, so they will need people to speak to customers on phone, they will need to sell their products so these reps will be needed for a while. I look at bank tellers feeling hot across the counter and just pity them... "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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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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murchr wrote:kiash wrote:Just like Dr Mwangi said about Technology in Equity, banking jobs will be left for a very few. Those tellers will dissapear. You will not need a teller to withdraw or deposit.Machines will replace people.It has happened here and you pop into a bank, a receptionist who does everything like giving out new cards ama checkbooks.The rest work with appointments.This will be the case in Kenya, checking account balance online is/will be possible book appointment for a kaloan, withdraw hapo nje,deposit.
Actually in Kenya it might turn out in a very different way coz of mobile banking.
Let the employees dance for now Yes Bank tellers will be a job of the past. Customer care reps will be needed tho, not everyone is computer literate, so they will need people to speak to customers on phone, they will need to sell their products so these reps will be needed for a while. I look at bank tellers feeling hot across the counter and just pity them... Used to be one. When employed they tell you you need to be neat and look good because you are the image of the bank. We used to be money custodian of guys in the informal sector who would earn 10 time more than us and they never wore a neck choking tie like we did and having crazy targets. Most of those guys should go and learn ICT stuff if they have to survive.
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KCB running Chase Bank (in receivership)
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