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Exchange Bar: Results forecast
Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Metch wrote:whiteowl wrote:obiero wrote:Hot how.. It would be difficult for any Kenyan bank to have known of the scam. If payment has been received from IFMIS to the client bank account and the client presents an LPO along with invoice in support of works done.. The banks' work stops there! Hio ingine ni ya DPP na CID I agree this is not on banks.If you have supporting documents the transaction is supposed to be approved.If the said documents were issued after supplying air that's an issue for the criminal justice system to solve. Banks are liable. They have a responsibility to report suspect transactions e.g if an account that barely transacts receives 10M from a govt institution and the money is withdrawn in cash within the hour (no large amounts declaration forms were signed). And this happened repeatedly at the same bank! We should be asking which banks. Transactions happened at Ridgeway Mall. We have Equity, Coop, Chase and StanChart there There is no stanchart branch at Ridgeways mall. It's equity,Co-op and Chase Bank. Chase bank is under receivership so there is a limit upto how much one can withdraw. This leaves Equity and Co-op bank. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,055 Location: Nairobi
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Ericsson wrote:Metch wrote:whiteowl wrote:obiero wrote:Hot how.. It would be difficult for any Kenyan bank to have known of the scam. If payment has been received from IFMIS to the client bank account and the client presents an LPO along with invoice in support of works done.. The banks' work stops there! Hio ingine ni ya DPP na CID I agree this is not on banks.If you have supporting documents the transaction is supposed to be approved.If the said documents were issued after supplying air that's an issue for the criminal justice system to solve. Banks are liable. They have a responsibility to report suspect transactions e.g if an account that barely transacts receives 10M from a govt institution and the money is withdrawn in cash within the hour (no large amounts declaration forms were signed). And this happened repeatedly at the same bank! We should be asking which banks. Transactions happened at Ridgeway Mall. We have Equity, Coop, Chase and StanChart there There is no stanchart branch at Ridgeways mall. It's equity,Co-op and Chase Bank. Chase bank is under receivership so there is a limit upto how much one can withdraw. This leaves Equity and Co-op bank. Ekweetee? I hope not  [Yes, I have a vested interest] Coop? Let the 370mn chap answer those questions! It's tough for banks to monitor all this. The huge withdrawals should raise an eyebrow but if a manager/staff is compromised then what can a bank do? GoK is squarely at fault. These GoK projects have been leaking money since I was a kid. And before that. We do not need more GoK projects but PPPs and private sector initiatives. Apart from the blatant theft, GoK has been borrowing like crazy. Equity, SCBK, I&M, DTB, BBK, Stanbic, etc have increased their GoK paper holdings vs lending to the private sector thanks to the high rates offered. The 15-year bond issued recently was at 13.07% so how many banks would want to lend at 13.5 to Wanjiku? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Metch wrote:whiteowl wrote:obiero wrote:Hot how.. It would be difficult for any Kenyan bank to have known of the scam. If payment has been received from IFMIS to the client bank account and the client presents an LPO along with invoice in support of works done.. The banks' work stops there! Hio ingine ni ya DPP na CID I agree this is not on banks.If you have supporting documents the transaction is supposed to be approved.If the said documents were issued after supplying air that's an issue for the criminal justice system to solve. Banks are liable. They have a responsibility to report suspect transactions e.g if an account that barely transacts receives 10M from a govt institution and the money is withdrawn in cash within the hour (no large amounts declaration forms were signed). And this happened repeatedly at the same bank! We should be asking which banks. Transactions happened at Ridgeway Mall. We have Equity, Coop, Chase and StanChart there This is not a problem of reports not being filed.This is all about the criminal justice system.The Auditor General,A govt employee, reports theft of over 300 billion every financial year and what usually happens?
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Rank: Chief Joined: 1/3/2007 Posts: 18,055 Location: Nairobi
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7 banks? https://www.youtube.com/...nue=5&v=PYmf38QVUcs
'For all the money to be lost, there were transactions, and banks to facilitate them. There are seven Kenyan banks which have been accused of laundering the money looted in the NYS scam. Central Bank Governor Patrick Njoroge confirmed that there are banks that are to be held liable, but declined to either confirm the number or name the lenders under the investigation radar. He says the CBK is allowing the Directorate of Criminal Investigations to conclude investigations before deciding on the next course of action.' From NTV So which are these 7? Suspected: Coop Chase [Closed since the scam? Or limited access] Equity StanChart [@Ericsson says it doesn't have a branch at Ridgeways] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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whiteowl wrote:Metch wrote:whiteowl wrote:obiero wrote:Hot how.. It would be difficult for any Kenyan bank to have known of the scam. If payment has been received from IFMIS to the client bank account and the client presents an LPO along with invoice in support of works done.. The banks' work stops there! Hio ingine ni ya DPP na CID I agree this is not on banks.If you have supporting documents the transaction is supposed to be approved.If the said documents were issued after supplying air that's an issue for the criminal justice system to solve. Banks are liable. They have a responsibility to report suspect transactions e.g if an account that barely transacts receives 10M from a govt institution and the money is withdrawn in cash within the hour (no large amounts declaration forms were signed). And this happened repeatedly at the same bank! We should be asking which banks. Transactions happened at Ridgeway Mall. We have Equity, Coop, Chase and StanChart there This is not a problem of reports not being filed.This is all about the criminal justice system.The Auditor General,A govt employee, reports theft of over 300 billion every financial year and what usually happens? We take it as usual and continue with our suffering of poor roads,poor medical facilities,poorly maintained and overcrowded public schools Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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VituVingiSana wrote:7 banks? https://www.youtube.com/...nue=5&v=PYmf38QVUcs
'For all the money to be lost, there were transactions, and banks to facilitate them. There are seven Kenyan banks which have been accused of laundering the money looted in the NYS scam. Central Bank Governor Patrick Njoroge confirmed that there are banks that are to be held liable, but declined to either confirm the number or name the lenders under the investigation radar. He says the CBK is allowing the Directorate of Criminal Investigations to conclude investigations before deciding on the next course of action.' From NTV So which are these 7? Suspected: Coop Chase [Closed since the scam? Or limited access] Equity StanChart [@Ericsson says it doesn't have a branch at Ridgeways] My bet is on Equity. 19 of the 20 directors facing charges are from 1 community that just happens to swear by this bank Start!
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Family Bank Q1 Net profit of ksh.35.8mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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How much is the CEO paid I wonder? Ericsson wrote:Family Bank Q1 Net profit of ksh.35.8mn
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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Chaka wrote:How much is the CEO paid I wonder? Ericsson wrote:Family Bank Q1 Net profit of ksh.35.8mn Turning things around after Munyiri mess. Good. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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National bank loss of sh.278.5mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Barclays bank quarter 1 net profits up 7% to 1.8bn Profits boosted by; Investment in government bonds and Treasury bills surging 52 per cent to Sh67 billion. This helped raise total interest income 8.1 per cent to Sh6.9 billion. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B: EQTY 6.4 Actual 8.3 KCB 6.8 Actual 7.4 COOP 4.1 Actual 4.9 SCBK 2.8 Actual 2.7 DTB 2.7 Actual 2.7 BBK 2.3 Actual 2.7 I&M 1.7 STB 1.5 Actual 2.7 NIC 1.2 Actual 1.3 HFCK 0.18 NBK 0.14
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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obiero wrote:Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B:
EQTY 6.4 Actual 8.3
KCB 6.8 Actual 7.4
COOP 4.1 Actual 4.9
SCBK 2.8 Actual 2.7
DTB 2.7 Actual 2.7
BBK 2.3 Actual 2.7
I&M 1.7
STB 1.5 Actual 2.7
NIC 1.2 Actual 1.3
HFCK 0.18
NBK 0.14 What about NBK Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Ericsson wrote:obiero wrote:Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B:
EQTY 6.4 Actual 8.3
KCB 6.8 Actual 7.4
COOP 4.1 Actual 4.9
SCBK 2.8 Actual 2.7
DTB 2.7 Actual 2.7
BBK 2.3 Actual 2.7
I&M 1.7
STB 1.5 Actual 2.7
NIC 1.2 Actual 1.3
HFCK 0.18
NBK 0.14 What about NBK Was confirming the figure you posted. It actually did slide into net loss of KES 278M but with a PBT of KES 76M 
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B: EQTY 6.4 Actual 8.3 KCB 6.8 Actual 7.4 COOP 4.1 Actual 4.9 SCBK 2.8 Actual 2.7 DTB 2.7 Actual 2.7 BBK 2.3 Actual 2.7 I&M 1.7 Actual 2.0 STB 1.5 Actual 2.7 NIC 1.2 Actual 1.3 HFCK 0.18 NBK 0.14 Actual 0.07
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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obiero wrote:Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B:
EQTY 6.4 Actual 8.3
KCB 6.8 Actual 7.4
COOP 4.1 Actual 4.9
SCBK 2.8 Actual 2.7
DTB 2.7 Actual 2.7
BBK 2.3 Actual 2.7
I&M 1.7 Actual 2.0
STB 1.5 Actual 2.7
NIC 1.2 Actual 1.3
HFCK 0.18
NBK 0.14 Actual 0.07 HFCK PBT ksh.52.9mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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Ericsson wrote:Barclays bank quarter 1 net profits up 7% to 1.8bn
Profits boosted by;
Investment in government bonds and Treasury bills surging 52 per cent to Sh67 billion.
This helped raise total interest income 8.1 per cent to Sh6.9 billion. And as with the norm with other banks loans and advances shrunk when Q1 2018 is compared to FY 2017 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Ericsson wrote:Ericsson wrote:Barclays bank quarter 1 net profits up 7% to 1.8bn
Profits boosted by;
Investment in government bonds and Treasury bills surging 52 per cent to Sh67 billion.
This helped raise total interest income 8.1 per cent to Sh6.9 billion. And as with the norm with other banks loans and advances shrunk when Q1 2018 is compared to FY 2017 A terrible sign. Considering banks exist primarily to lend
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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Ericsson wrote:obiero wrote:Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B:
EQTY 6.4 Actual 8.3
KCB 6.8 Actual 7.4
COOP 4.1 Actual 4.9
SCBK 2.8 Actual 2.7
DTB 2.7 Actual 2.7
BBK 2.3 Actual 2.7
I&M 1.7 Actual 2.0
STB 1.5 Actual 2.7
NIC 1.2 Actual 1.3
HFCK 0.18 Actual 0.05
NBK 0.14 Actual 0.07 HFCK PBT ksh.52.9mn Awful results by HF
HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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obiero wrote:Ericsson wrote:obiero wrote:Exchange Bar Quarterly Forecast for Q1 2018, PBT figures in KES B:
EQTY 6.4 Actual 8.3
KCB 6.8 Actual 7.4
COOP 4.1 Actual 4.9
SCBK 2.8 Actual 2.7
DTB 2.7 Actual 2.7
BBK 2.3 Actual 2.7
I&M 1.7 Actual 2.0
STB 1.5 Actual 2.7
NIC 1.2 Actual 1.3
HFCK 0.18 Actual 0.05
NBK 0.14 Actual 0.07 HFCK PBT ksh.52.9mn Awful results by HF Marangu eats everything!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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