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Equity Bank Q1 2016 Results
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Ebenyo
#41 Posted : Thursday, June 23, 2016 5:49:25 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
murchr wrote:
the Star wrote:
Equity Bank has 14 days to file assessment documents in a case where eight former employees are seeking over Sh100 million as compensation.

Justice Fred Ochieng made the orders after the court was informed that the bank had admitted the liability for failing to disclose and pay the employees their unit-shareholdings.

Ochieng further directed the parties to file facts agreed to enable the court give judgment on the quantity of damages to be awarded to the eight.

Plaintiffs in the case are Patrick Pamba, Edna Mwangi, Arthur Washe, John Thagana, John Nderitu, Jacob Obiero, Edward Waweru and John Kamau.

They accuse bank trustees of "blantantly and deliberately" failing to comply with the provisions of Section 117 of the Capital Markets (Collective Investment Schemes) Regulations 2001.

The provision ensures that a repurchase of units in an ESOP shall reflect the latest traded price of the company's shares at the Nairobi Securities Exchange.

where is the link to this story?
Towards the goal of financial freedom
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VituVingiSana
#42 Posted : Thursday, June 30, 2016 7:36:26 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Equity Bank set to auction Vihiga MP’s home over Sh19m loan

http://www.businessdaily...10/-/9wc0nm/-/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#43 Posted : Thursday, June 30, 2016 10:57:58 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
[quote=VituVingiSana]Equity Bank set to auction Vihiga MP’s home over Sh19m loan

http://www.businessdaily...0/-/9wc0nm/-/index.html[/quote]

Banking is tough. Unpaid loan since 2007!
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ericsson
#44 Posted : Thursday, June 30, 2016 12:48:35 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Equity bank is known for enslaving and harassing it's employees.
Long working hours with low pay,discriminative employee share ownership,no growth/career progression.
Staff turnover is high and company has many court cases relating to employee share ownership when the said employees decide to exit
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#45 Posted : Thursday, June 30, 2016 7:36:16 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Aguytrying wrote:
[quote=VituVingiSana]Equity Bank set to auction Vihiga MP’s home over Sh19m loan

http://www.businessdaily...0/-/9wc0nm/-/index.html[/quote]

Banking is tough. Unpaid loan since 2007!

The court system needs massive reforms. As do the laws that protect serial or egregious defaulters. At least Equity didn't write it off. How would have KCB handled it?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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MaichBlack
#46 Posted : Sunday, July 03, 2016 8:24:52 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,840
Na hapa ndipo Equity "imetufikicha"
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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MaichBlack
#47 Posted : Sunday, July 03, 2016 4:59:43 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,840
Foreign investors loving Equity
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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mkate_nusu
#48 Posted : Sunday, July 03, 2016 8:24:23 PM
Rank: Member

Joined: 5/30/2016
Posts: 332
Location: Kayole
MaichBlack wrote:
Foreign investors loving Equity


I am in this counter for the longterm. Below 36 I scoop up more
KEGN, KPLC, KQ, SCOM
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Ebenyo
#49 Posted : Sunday, July 03, 2016 9:19:34 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
mkate_nusu wrote:
MaichBlack wrote:
Foreign investors loving Equity


I am in this counter for the longterm. Below 36 I scoop up more


Im also in this counter for the long term.Im in simba too but i plan kuachia my daughter.Mi nitabaki na huyu James Mwangi.I heard there is a rights issue next year?
Towards the goal of financial freedom
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mkate_nusu
#50 Posted : Sunday, July 03, 2016 9:46:17 PM
Rank: Member

Joined: 5/30/2016
Posts: 332
Location: Kayole
Ebenyo wrote:
mkate_nusu wrote:
MaichBlack wrote:
Foreign investors loving Equity


I am in this counter for the longterm. Below 36 I scoop up more


Im also in this counter for the long term.Im in simba too but i plan kuachia my daughter.Mi nitabaki na huyu James Mwangi.I heard there is a rights issue next year?


@Ebenyo I highly doubt that. Equity books are looking healthy: working capital, LLPs and NPLs are all good.
If they needed the money they can always retain greater portion of earnings and pay less in dividends
KEGN, KPLC, KQ, SCOM
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