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Co-operative Bank fate.. discuss
Realtreaty
#301 Posted : Monday, January 25, 2016 1:13:55 AM
Rank: Elder


Joined: 8/16/2011
Posts: 2,260
They say "Shilingi humulikwa na ingine" Now Co-op is doing just that!!!smile smile Applause
Just waiting for FEB 2015FY results.
Co-op places agents inside banking halls as model stepped up
enyands
#302 Posted : Monday, January 25, 2016 5:41:19 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Wish coop bank can follow what family bank is doing .5 year limit for the MD. coop needs néw faces and new ideas.
jerry
#303 Posted : Monday, January 25, 2016 9:57:05 AM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
enyands wrote:
Wish coop bank can follow what family bank is doing .5 year limit for the MD. coop needs néw faces and new ideas.

I think Coop is way ahead. FB should list in NSE. There are reasons,other than strategic planning, that led to retiring of FB's CEO.
The opposite of courage is not cowardice, it's conformity.
streetwise
#304 Posted : Monday, January 25, 2016 10:02:34 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
You forget one fact, that Coop MD owns the bank while as Family Bank MD is just an employee.
Ericsson
#305 Posted : Monday, January 25, 2016 10:17:53 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
@streetwise;
I support enyands comment.Coop needs a new face and fresh ideas.
What sort of a plan is this they are doing placing agents inside the branches and removing the tellers.Just have the tellers.
If the customers aren't responding positively to the agent then there is a problem.Customer is always KING.
Safaricom tried the big box and when they realised it wasn't working had to scrap it off and check the cause.
Coop is being run like a kiosk;corporate governance procedures are extremely weak and Gideon fears leaving now because once he leaves the cockroaches being hidden will be let thus exposing the rot and "investigators" might come for him.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
streetwise
#306 Posted : Monday, January 25, 2016 10:41:31 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
You have stated the facts very correctly, the board needs to take heed.

Currently Coop is not only run the way you have said but like personal property.

When the current MD leaves I expect the scandals and orphans to be the level of the NYS scandals.
enyands
#307 Posted : Monday, January 25, 2016 3:37:17 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
streetwise wrote:
You have stated the facts very correctly, the board needs to take heed.

Currently Coop is not only run the way you have said but like personal property.

When the current MD leaves I expect the scandals and orphans to be the level of the NYS scandals.


I worked there once upto to a level up. I'm telling you the rot that will come out will shock many. The MD gets a bonus of 40m a year beside the dividends and that was in 2007.at the procurement and purchases dept is another den. Well I'm not mad at why he used to get that but made me wonder alot. He owns a little bit under 2% shares but man that guy should just let go leadership .it is what it is....

The shares will rally better with new faces.
Bachuma Gate
#308 Posted : Monday, January 25, 2016 4:22:51 PM
Rank: Member


Joined: 3/26/2012
Posts: 280
He also owns the board.

His has given them loans and shares. And they are very thankful. Imagine you are a civil servant/an employee sitting on the board by virtue of being your Sacco rep. The CEO finances you to buy hundred of acres of land /upmarket proerties at concessionary interest rate to sell later in future. Why would you want to remove him. The bank belongs to Sacco plus you n me. Hes got nothing to loss even if it doesn't make profit. Very poor board structure.

He is now working to move from CEO to chairman of the board so that he can continue shielding himself. Afro cinema.
DOH
enyands
#309 Posted : Monday, January 25, 2016 4:39:35 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Bachuma Gate wrote:
He also owns the board.

His has given them loans and shares. And they are very thankful. Imagine you are a civil servant/an employee sitting on the board by virtue of being your Sacco rep. The CEO finances you to buy hundred of acres of land /upmarket proerties at concessionary interest rate to sell later in future. Why would you want to remove him. The bank belongs to Sacco plus you n me. Hes got nothing to loss even if it doesn't make profit. Very poor board structure.

He is now working to move from CEO to chairman of the board so that he can continue shielding himself. Afro cinema.



You killed it man Applause . Then poor tellers going to lose their jobs to the agents working on the same banking hall. Jameni hata usa greedy banks don't do that
Obi 1 Kanobi
#310 Posted : Monday, January 25, 2016 4:44:46 PM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
Ericsson wrote:
@streetwise;
I support enyands comment.Coop needs a new face and fresh ideas.
What sort of a plan is this they are doing placing agents inside the branches and removing the tellers.Just have the tellers.
If the customers aren't responding positively to the agent then there is a problem.Customer is always KING.
Safaricom tried the big box and when they realised it wasn't working had to scrap it off and check the cause.
Coop is being run like a kiosk;corporate governance procedures are extremely weak and Gideon fears leaving now because once he leaves the cockroaches being hidden will be let thus exposing the rot and "investigators" might come for him.


I don't know about fraud or lack of corporate governance structures, but I tell you from a marketing perspective, placing of agents inside the bank is a master piece which will probably be copied by all other banks.

Its a temporary measure to help customers familiarise with agencies, eventually it will move distribution from branches to agents hence freeing the bank staff to focus on selling as opposed to admin work or allowing management to cut cost by reducing tellers.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
streetwise
#311 Posted : Monday, January 25, 2016 5:35:28 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Use of agents looks like the way they used to do it in the 19th Century, it would have been perfect then. The issue with using the same strategy in the 21st century is that you are not likely to achieve the level of efficiency as those who automate.

So the question is , why go through the mid step when you can go all the way .

I am sure the Mackenzie’s have done it elsewhere or do they want a longer stay at the job

winmak
#312 Posted : Monday, January 25, 2016 6:41:56 PM
Rank: Member


Joined: 12/1/2007
Posts: 538
Location: Nakuru
Very interesting thread... Will have to hold for now till I do further research...
For investors as a whole, returns decrease as motion increases ~ WB
DtheK
#313 Posted : Monday, January 25, 2016 8:35:28 PM
Rank: Member


Joined: 2/15/2010
Posts: 117
Location: Kenya
I wonder who has actually recently transacted at Coop agent lately.As of mid last year in my town where we have like four KCB mtaani, they work and functioning equity agents at almost all m-pesas.But try any coop agent and you get "Haifanyi". Is it a technical issue or do they pay agents poorly?
streetwise
#314 Posted : Tuesday, January 26, 2016 8:35:53 AM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
In one location the Haifanyi was the only word I heard for a long time till the owner closed shop.

There is need for a rethink, or may be these systems are supplied through some internal arrangements and thus the supplier is not under any pressure to perform.

The strange bit the Equity bank systems seem to work. Na sijalipwa kusema hii
enyands
#315 Posted : Tuesday, January 26, 2016 11:05:27 AM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
streetwise wrote:
In one location the Haifanyi was the only word I heard for a long time till the owner closed shop.

There is need for a rethink, or may be these systems are supplied through some internal arrangements and thus the supplier is not under any pressure to perform.

The strange bit the Equity bank systems seem to work. Na sijalipwa kusema hii


We need some changes in this bank. MD is out of ideas just like mugabe
Realtreaty
#316 Posted : Tuesday, January 26, 2016 5:41:45 PM
Rank: Elder


Joined: 8/16/2011
Posts: 2,260
The Mention of Bank stocks being positive may cause a stampede!!!!Laughing out loudly Laughing out loudly Laughing out loudly Applause
Why bank stocks are best picks in 2016
enyands
#317 Posted : Tuesday, January 26, 2016 6:14:49 PM
Rank: Elder


Joined: 12/25/2014
Posts: 2,300
Location: kenya
Realtreaty wrote:
The Mention of Bank stocks being positive may cause a stampede!!!!Laughing out loudly Laughing out loudly Laughing out loudly Applause
Why bank stocks are best picks in 2016



this is good news but id rather do my own analysis of these stocks, sometimes I find main stream media to be corrupted with the info they post on the papers.they do so some of them to expect a rally or something.anyway I know with KCB it aint wrong na ndugu obiero mentioned about loading it up.
hisah
#318 Posted : Tuesday, January 26, 2016 6:54:41 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Realtreaty wrote:
The Mention of Bank stocks being positive may cause a stampede!!!!Laughing out loudly Laughing out loudly Laughing out loudly Applause
Why bank stocks are best picks in 2016

My fellow wazuan after seeing you get killed by britam I'll try to hammer some info into your psychology about the market. When a deal is offered as gold in the market, take to the hills. Nobody ever got rich from buying what's common!

Let's go back to the beginning of 2015 Four must-have stocks in 2015 as economy looks up

Quote:
Exactly which stocks should you buy in 2015? To profit from this expected bull market, there are four stocks any investor should own in 2015—namely Equity Bank, KCB, Safaricom and East African Breweries Limited (EABL).


Only mpesa bank performed in that list. A 75% failure rate!

My opinion is take time to invest. Don't rush the market. To survive in the market long enough learn to be patient and play your own game. But please avoid taking tips from mainstream media. This road will lead you off the cliff with no apologies!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
maka
#319 Posted : Tuesday, January 26, 2016 7:15:25 PM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Realtreaty wrote:
The Mention of Bank stocks being positive may cause a stampede!!!!Laughing out loudly Laughing out loudly Laughing out loudly Applause
Why bank stocks are best picks in 2016


There will be no stampede stocks will under perform this year...if you are buying look at selling after elections going forward....
possunt quia posse videntur
Realtreaty
#320 Posted : Wednesday, January 27, 2016 7:39:50 PM
Rank: Elder


Joined: 8/16/2011
Posts: 2,260
maka wrote:
Realtreaty wrote:
The Mention of Bank stocks being positive may cause a stampede!!!!Laughing out loudly Laughing out loudly Laughing out loudly Applause
Why bank stocks are best picks in 2016


There will be no stampede stocks will under perform this year...if you are buying look at selling after elections going forward....

Sad Sad Selling bells will ring by 2017 after the FY2016 returns. Some will try to sell on speculation ofprice rise towards 2016 close.smile
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