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Chase Bank loss...another case of cooking the books?
Rank: Elder Joined: 12/2/2009 Posts: 2,458 Location: Nairobi
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A lot of lies doing rounds around the world before the truth catches up as well..
Banks cannibalising each other.
Some of this rumours originating from CBK employees as well.
Too much going on. Might just end up as a ploy to fix the governor
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Rank: Elder Joined: 2/26/2008 Posts: 4,449
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"On Chase Bank, CBK Governor urges the public to ignore the rumors on Social Media"
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Sufficiently Philanga....thropic wrote:By the way, the strong USD has caused a lot of pain and grief to net importer nations as well as commodity rich ones.
Before the USD took off, cbr and inflation rate would be at the same levels or thereabout. For the longest, we had our cbr at 6.25% which is where i believe we should have been now that inflation rate is at 6.45%. but not possible since we have the Eurobond to pay and Gov.Njoroge has to continue punishing us by leaving the cbr at 11.50 so as to tame this USD monster and keep it below 107.
At times i wonder if small banks like chase had branches in South sudan where Equity and KCb each took a 6b shaving from the SSP devaluation. Would they have lived to tell the story? I also don't expect the cbr to change in the meantime. The governor knows his craft and he expects an even stronger usd(precautionary loan taken to aid on that front) not to mention that he is an inflation freak. Apparently we are conducting a roadshow to test the waters for the second eurobond as the guinea pigs for other African states. I can't see this ending well. Dollar shortage is real and it is not a problem we would want to have. On matters ssp, it hit 48 at one point and is currently at about 28, what was the rate used by banks to account for the devaluation? Compounding matters is the discrepancy between the official rate and the black market. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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Resignations happening?? The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: Member Joined: 3/3/2016 Posts: 132
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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ZZE123 wrote:Resignations happening?? Heard that Kabui and Khan....flimsy source lakini...wait for it. http://nairobitech.blogs...and-group-md-resign.htmlpossunt quia posse videntur
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Rank: Elder Joined: 6/21/2008 Posts: 2,490
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I thought Khan was the owner?? The man who marries a beautiful woman, and the farmer who grows corn by the roadside have the same problem
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Rank: Member Joined: 5/6/2008 Posts: 199
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No one is talking about their Tier 1 Capital Ratio below regulatory minimum. It's been in the public domain all along
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business. Thieves are not good people. Tumeelewana?
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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alma1 wrote:Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business. Before you firefight one rumour you are bombarded by 10 more...what do you deal with first?At the same time whatsapp messages...texts. possunt quia posse videntur
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Rank: Member Joined: 1/21/2013 Posts: 427
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Rank: Elder Joined: 9/19/2015 Posts: 2,871 Location: hapo
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maka wrote:alma1 wrote:Whoever is doing their reputation management online should also resign. These kind of rumors can shut down an otherwise good business. Before you firefight one rumour you are bombarded by 10 more...what do you deal with first?At the same time whatsapp messages...texts. It seems these rumors are turning out to be true after all....9 more to go. Thieves are not good people. Tumeelewana?
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Rank: Member Joined: 1/21/2013 Posts: 427
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Rank: Member Joined: 12/1/2007 Posts: 538 Location: Nakuru
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So, is there any safe bank? These tier 3s are treading on shaky ground... For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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winmak wrote:So, is there any safe bank? These tier 3s are treading on shaky ground... KCB possunt quia posse videntur
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Rank: Elder Joined: 9/15/2006 Posts: 3,901
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winmak wrote:So, is there any safe bank? These tier 3s are treading on shaky ground... The very 'respectable' CNyakundi is on the trail... imminent collapse, 6b loss, siphoning, etc. http://cnyakundi.com/201...e-move-your-money-asap/
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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? Really? Can you all calm down and wait for a word from the CBK "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: 9/2/2010 Posts: 845
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haha. the 'bidco man' cnyakundi.com amepata some legit news finally. such websites and the likes of kenya-today.com, kenya-post.com, and sijui kahawa tungu are ones you only visit while wearing 50 condoms. All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Rank: Elder Joined: 9/15/2006 Posts: 3,901
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murchr wrote:? Really? Can you all calm down and wait for a word from the CBK As we wait for word from the CBK...• I note Chase Bank and National Bank share the same auditor, Deloitte. • Seems the challenge in banking will always remain the extent to which insiders (owners/directors) fund their other businesses with customer deposits – 10.5bn in this case Feels exaggerated, should maybe read 'is the major shareholder'
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Actually sit tight, all banks are under the microscope. If we can have a list of what they listed as their NPL vs what will be coming out in the near future. Chase listed 2.5Bn, Actual 11Bn. By the time they start dishing out Q1 things will be hot "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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Chase Bank loss...another case of cooking the books?
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