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Eye on I&M ...
sitaki.kujulikana
#101 Posted : Wednesday, June 05, 2019 1:43:07 PM
Rank: Veteran


Joined: 8/25/2012
Posts: 1,823
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:

The last kicks of a dying horse. Watu wa Othaya walipe deni. Laughing out loudly

Dr. Opus doesn't want upus!
At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.
https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high.

We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy


Bank takes money from depositors, lends the depositors money to borrowers.

It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK.

No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services


If you can't repay, don't borrow.

If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans


I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren.

hapo hauja tuenjoy, ama ni just a quote.
sparkly
#102 Posted : Wednesday, June 05, 2019 2:37:14 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,292
Location: Enk are Nyirobi
sitaki.kujulikana wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
sparkly wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:

The last kicks of a dying horse. Watu wa Othaya walipe deni. Laughing out loudly

Dr. Opus doesn't want upus!
At the heart of the crisis are the tough policy directives issued by Dr Njoroge, which demand banks to aggressively pursue defaulters to keep the financial books clean.
https://www.standardmedi...-over-heads-of-the-rich
Dr. Opus does not believe in forgiveness of debts or mercy on defaulters. He has told the banks to whip the defaulters. I&M is back in court on 19th June to follow the orders sent on from high.

We will celebrate other people's auctions until the hammer turns on us.. No sane man places three properties as collateral with intent to default. The two men have failed the economy


Bank takes money from depositors, lends the depositors money to borrowers.

It is the bank's obligation to protect depositors' money by auctioning security if debtor default. If the bank shirks that responsibility, we end up with another Chase, Imperial and NBK.

No one disputes the need to repay obligations but the question here is whether the economy is allowing profitable trade in any sector apart from Finance and Financial Services


If you can't repay, don't borrow.

If you are in business or ever run your own hustle you wouldn't write such a statement. Plus why would a bank lend to someone who has no repayment ability? I'm telling you that the system is working against Kenyans


I am not the author of capitalism @Obiero. I just state the obvious. If you borrow and can't repay, your security will be attached and sold. Banks, auctioneers, liquidators and corporate scavengers make money during business downturns. More money is made from war than from peace. Capitalism is a jungle, every gazelle trying to outrun the fastest lion and every lion trying to outrun the slowest gazelle. Ni kubaya my fren.

hapo hauja tuenjoy, ama ni just a quote.



You can quote me smile smile
Life is short. Live passionately.
VituVingiSana
#103 Posted : Wednesday, June 05, 2019 10:43:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mkenyan
#104 Posted : Thursday, June 06, 2019 8:19:53 AM
Rank: Veteran


Joined: 4/1/2009
Posts: 1,765
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
VituVingiSana
#105 Posted : Thursday, June 06, 2019 9:01:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Pesa Nane
#106 Posted : Thursday, June 06, 2019 9:48:22 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
VituVingiSana wrote:
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.


"Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held."
Pesa Nane plans to be shilingi when he grows up.
VituVingiSana
#107 Posted : Thursday, June 06, 2019 10:25:28 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
Pesa Nane wrote:
VituVingiSana wrote:
mkenyan wrote:
VituVingiSana wrote:
3 houses at 100mn each = 300mn
2 of the 3 units have been auctioned.
All Othaya can do is sue for damages. I&M, as most banks, do not want to own random properties, go to court or work with auctioneers. If Othaya pays off the loan, they can have the houses back.

they can't have the houses anymore if it is true they were lawfully auctioned
If Othaya repays the loan to I&M then I am pretty sure I&M can work a deal with the buyers.
At the end of the day, Othaya wants to sell the houses, I&M wants their the loan repaid and the buyers want the houses.


"Andrew Muchina, an employee of the bank, had said in an affidavit that the company’s rights were extinguished at the fall of the hammer on May 28, when the auction was held."
Well, the good news for Watu Wa Othaya is they now owe less than what they did. Applause Win-Win Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Yliett
#108 Posted : Sunday, June 16, 2019 5:57:55 PM
Rank: New-farer


Joined: 12/23/2018
Posts: 38
Location: germany
Certainly one of the options is to make repayments of debt and get free from this situation. However, I am still not sure if all important information are publicly disclosed, so making any sort of predictions what could happen at the end would be too enthusiastic
obiero
#109 Posted : Friday, August 16, 2019 11:17:45 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
49 bob per share
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
VituVingiSana
#110 Posted : Saturday, August 17, 2019 12:08:08 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
obiero wrote:
49 bob per share
And PROFITABLE. And pays a dividend. #respect Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#111 Posted : Saturday, August 17, 2019 6:23:57 AM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
VituVingiSana wrote:
obiero wrote:
49 bob per share
And PROFITABLE. And pays a dividend. #respect Applause Applause Applause

COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
Horton
#112 Posted : Saturday, August 17, 2019 8:13:56 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,466
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
49 bob per share
And PROFITABLE. And pays a dividend. #respect Applause Applause Applause

COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS


U guys need to hug this out. 🤦🏽‍♂️🤦🏽‍♂️
VituVingiSana
#113 Posted : Saturday, August 17, 2019 8:26:34 AM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
obiero wrote:
49 bob per share
And PROFITABLE. And pays a dividend. #respect Applause Applause Applause

COOP, KCB have the same features.. PROFITABLE AND PAY DIVIDENDS
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mufasa
#114 Posted : Saturday, August 17, 2019 3:27:02 PM
Rank: Member


Joined: 4/15/2008
Posts: 162
VituVingiSana wrote:
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.


For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option
Do it today! Tomorrow is promise to no-one.
obiero
#115 Posted : Saturday, August 17, 2019 5:49:19 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
mufasa wrote:
VituVingiSana wrote:
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.


For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option

CENTUM = BERNIE MADOFF
https://boingboing.net/2...16/worse-than-enron.html
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
VituVingiSana
#116 Posted : Saturday, August 17, 2019 8:24:33 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
mufasa wrote:
VituVingiSana wrote:
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.

For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option

Well, I guess than you are right and Mr. Warren Buffett and Mr. Charles Munger are wrong as regards the linearity of earnings.

“Charlie (Munger) and I would much rather earn a lumpy 15 percent over time than a smooth 12 percent.” - Warren Buffett

On transparency, management quality and integrity... I agree.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#117 Posted : Saturday, August 17, 2019 8:26:58 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
obiero wrote:
mufasa wrote:
VituVingiSana wrote:
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.


For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option

CENTUM = BERNIE MADOFF
https://boingboing.net/2...6/worse-than-enron.html
Laughing out loudly Laughing out loudly Laughing out loudly Anyway, back to I&M. You have been "speaking in code" for years about I&M. In the meantime, the PAT (like other good banks) is on the up and up. A few down Qs are expected. Some loans will go bad. It's part of the business. It's a marathon and not a sprint.

obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
This time banks have taken long to release HY results
Cooking? Or Dr. Opus isn't allowing funny business?

There’s no single tier 1 or 2 listed bank that cooks nowadays. The brown guy was warned about possible loss of license

http://wazua.co.ke/forum...amp;m=879452#post879452 #2017
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
obiero
#118 Posted : Saturday, August 17, 2019 10:05:51 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,289
Location: nairobi
VituVingiSana wrote:
obiero wrote:
mufasa wrote:
VituVingiSana wrote:
YES! They do. Isn't it wonderful to own shares in such firms? Growth in dividends. Growth in profits. Growth in value.
Other firms that do so include KenyaRe, Unga and Centum among non-banks. They make not make money in a linear fashion but are creating long-term value. Enjoy the ride. Buy more when prices are low.


For a Co. to qualify for long term investment, the profit line needs to be linear to a very great extent. Most importantly for me, would be transparency in the management of the business of the day. Which rules out centum as a long term option

CENTUM = BERNIE MADOFF
https://boingboing.net/2...6/worse-than-enron.html
Laughing out loudly Laughing out loudly Laughing out loudly Anyway, back to I&M. You have been "speaking in code" for years about I&M. In the meantime, the PAT (like other good banks) is on the up and up. A few down Qs are expected. Some loans will go bad. It's part of the business. It's a marathon and not a sprint.

obiero wrote:
VituVingiSana wrote:
Ericsson wrote:
This time banks have taken long to release HY results
Cooking? Or Dr. Opus isn't allowing funny business?

There’s no single tier 1 or 2 listed bank that cooks nowadays. The brown guy was warned about possible loss of license

http://wazua.co.ke/forum...amp;m=879452#post879452 #2017

Hehe.. Clutching on straws
COOP 5,500; KCB 7,500; KNRE 100,000; KQ 221,100
Ericsson
#119 Posted : Monday, September 23, 2019 2:14:43 PM
Rank: Elder


Joined: 12/4/2009
Posts: 7,438
Location: NAIROBI
Tanzania fines five banks for lax anti-money laundering controls

Tanzania’s central bank said on Monday it had fined five commercial banks over $800,000 (Sh83 million) for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector.

The Bank of Tanzania (BoT) said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).”

I&M Bank was slapped with the biggest fine at TSh655 million (Ksh29.62 million),followed by Equity Bank (TSh580 million),UBL Bank (Tsh325 million), Habib African Bank (Tsh175 million) and African Banking Corporation (Tsh145 million).

https://www.businessdail...84128-29oynm/index.html

@vvs what is?
VituVingiSana
#120 Posted : Monday, September 23, 2019 7:59:13 PM
Rank: Chief


Joined: 1/3/2007
Posts: 16,445
Location: Nairobi
Ericsson wrote:
Tanzania fines five banks for lax anti-money laundering controls

Tanzania’s central bank said on Monday it had fined five commercial banks over $800,000 (Sh83 million) for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector.

The Bank of Tanzania (BoT) said in a statement the fines were imposed “for failure to conduct proper customer due diligence and file suspicious transaction reports to the (state-run) Financial Intelligence Unit (FIU).”

I&M Bank was slapped with the biggest fine at TSh655 million (Ksh29.62 million),followed by Equity Bank (TSh580 million),UBL Bank (Tsh325 million), Habib African Bank (Tsh175 million) and African Banking Corporation (Tsh145 million).

https://www.businessdail...84128-29oynm/index.html

@vvs what is?
I have no idea. Doesn't sound good. Perhaps a question to be asked at the AGM or Investor Briefing. Or in private.
The amount is not huge but the action against the banks is worrisome.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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