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Family Bank?
Rank: Elder Joined: 6/23/2009 Posts: 13,499 Location: nairobi
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Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure??
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,499 Location: nairobi
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obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. possunt quia posse videntur
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Rank: Elder Joined: 6/23/2009 Posts: 13,499 Location: nairobi
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maka wrote:Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. Yes. Plus why would they borrow at such a high rate while they lend at 13%
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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obiero wrote:maka wrote:Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. Yes. Plus why would they borrow at such a high rate while they lend at 13% They are using treasury bond of 5 years as a guide then put a margin on top Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,499 Location: nairobi
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Ericsson wrote:obiero wrote:maka wrote:Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. Yes. Plus why would they borrow at such a high rate while they lend at 13% They are using treasury bond of 5 years as a guide then put a margin on top Their loans would be too costly in the market. Tier I cost of funds averages max 6%
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,678 Location: NAIROBI
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obiero wrote:Ericsson wrote:obiero wrote:maka wrote:Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. Yes. Plus why would they borrow at such a high rate while they lend at 13% They are using treasury bond of 5 years as a guide then put a margin on top Their loans would be too costly in the market. Tier I cost of funds averages max 6% The previous corporate bond which they retired in April had the following features; Amount:Ksh.2 billion Tenure:5.5 years Interest/coupon:13.75% Now they are borrowing at a lower rate compared to the previous one. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi
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obiero wrote:maka wrote:Ericsson wrote:obiero wrote:obiero wrote:Wakanyugi wrote:muganda wrote:Bravery is Family Bank posting q3 2016 Tragedy on their site http://familybank.co.ke/wp-cont...cial-Results-Q3-2016.pdfLow-lights: - loans and advances back to FY 2015 level - amount in government securities shrank 23% - owing due to CBK 2.27bn; other borrowed funds up 3bn - customer deposits down 15% - loan loss provisions up five-fold - gross non-performing loans doubled - loans to directors/shareholders/associates up 61% This looks like a clear candidate for takeover Takeover or closure?? A 13% bond, for a tier II bank which made a half billion loss three years ago. All the best Ksh.4 billion plus the interest they will pay without hiccup in the stipulated timeline Net of WHT this comes to 11.05% The only reason would be the tenor... Apart from that nothing interesting at all. Yes. Plus why would they borrow at such a high rate while they lend at 13% The bank serves largely micro and medium businesses. Interest rate for this segment is above 13%. GoK actually caps lending to this segment at 17% through their fund.
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