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Chase Bank loss...another case of cooking the books?
Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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watesh wrote:Massive withdrawal everywhere
My landlord already texted us cautioning against depositing into his Chase acc
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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mlennyma wrote:TheGeek wrote:Obi 1 Kanobi wrote:watesh wrote:Massive withdrawal everywhere Will probably worsen tomorrow after people have watched the evening news today. Biggest beneficiary will be MPESA BANK. mpesa cannot hold substantial deposits,kcb will catch the biggest share followed by other big banks remember nbk has credibility issues too it can most bank account holders have less than a 100k at any time.MPESA bank has tyranny of number a punda amecheka
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Rank: Member Joined: 7/3/2014 Posts: 245
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newfarer wrote:mlennyma wrote:TheGeek wrote:Obi 1 Kanobi wrote:watesh wrote:Massive withdrawal everywhere Will probably worsen tomorrow after people have watched the evening news today. Biggest beneficiary will be MPESA BANK. mpesa cannot hold substantial deposits,kcb will catch the biggest share followed by other big banks remember nbk has credibility issues too Yes. what am forseeing is guys in the shaky banks making immediate transfer to mpesa and using it as a current account of some sort. Remember people who rush to withdraw are retail. In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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I hope the share prices of the "good" banks tank on these jitters.. I have some serious idle cash waiting! Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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guru267 wrote:I hope the share prices of the "good" banks tank on these jitters.. I have some serious idle cash waiting! Banks are currently trading at a discount. Not sure you will any better prices
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Rank: Elder Joined: 7/21/2010 Posts: 6,177 Location: nairobi
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PKoli wrote:guru267 wrote:I hope the share prices of the "good" banks tank on these jitters.. I have some serious idle cash waiting! Banks are currently trading at a discount. Not sure you will any better prices be sure of lower prices if that interest cap sails through "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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whiteowl wrote:hisah wrote:Bond holders that bought the recent bank bonds must be having the infamous butterfly stomach effect... Bond holders are paid what's left after depositors are paid so if it goes down they'll be totally roasted. Bond market bidless... You see the cycle?$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 12/7/2010 Posts: 520 Location: Epicentre - Ngamia 1
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Unconfirmed reports this morning....  Build your own dreams, or someone else will hire you to build theirs - Farrah Gray.
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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That.... possunt quia posse videntur
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Rank: Elder Joined: 3/2/2009 Posts: 26,325 Location: Masada
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It has gone Dubaimperial. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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Impunity wrote:It has gone Dubaimperial. Its confirmed. Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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bird_man wrote:Impunity wrote:It has gone Dubaimperial. Its confirmed. That would be very very sad.... possunt quia posse videntur
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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Sufficiently Philanga....thropic wrote:If this one goes the way of Imperial Bank, expect a proper shaving on Bank stocks at the NSE. CBK must follow kuroda and Yellen and shore up our NSE,particularly Bank stocks....otherwise as @hisah says....sit tight! @SufficientlyP
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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Cbr 11.5% Inflation rate 6.45% Stagflation beckoning! @SufficientlyP
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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someone post the CBK notice ...receivership possunt quia posse videntur
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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 maka wrote:someone post the CBK notice ...receivership Chase BankAfrican parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Elder Joined: 6/23/2009 Posts: 13,475 Location: nairobi
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only KCB, DTB & COOP are safe in my view. strictly from corporate governance point of view.. ask Helios why they divested from EBL. Family Bank makes my nose twitch
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: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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maka wrote:someone post the CBK notice ...receivership
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Rank: Elder Joined: 9/23/2010 Posts: 2,218 Location: Sundowner,Amboseli
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lochaz-index wrote: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. Governor Njoroge has no option but to bring down cbr from up there otherwise expect more chase Banks to go under As for the Eurobond, i can only wish them well since they are already 20% plus in currency devaluation vs the USD. In trading, we say that you shouldn't add to a losing position On the SSP shocking to hear its at 28 vs USD as it was trading at around 18.5 at end year in the black market while the official rate was around 2.9 We await their Q1 print! @SufficientlyP
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Chase Bank loss...another case of cooking the books?
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