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3 Pages<123>
CBA buys Jamii Bora Bank for 1.4B
newfarer
#21 Posted : Friday, January 11, 2019 4:47:46 PM
Rank: Elder


Joined: 3/19/2010
Posts: 3,153
Location: Uganda
at least they are buying.. not stealing like the tangawizi fellows
punda amecheka
murchr
#22 Posted : Friday, January 11, 2019 4:50:29 PM
Rank: Elder


Joined: 2/26/2012
Posts: 14,481
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money element...mmmh!
"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
.
Gadaffi
#23 Posted : Friday, January 11, 2019 4:54:33 PM
Rank: Member


Joined: 2/13/2011
Posts: 280
Location: Nairobi
HFCK might be next in line..
Wakanyugi
#24 Posted : Friday, January 11, 2019 6:14:12 PM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,535
Gadaffi wrote:
HFCK might be next in line..


Wow!

It looks like a major shakedown is underway in the Banking sector.

We are likely to end up the Nigeria way - with no more than 15 big banks.

I say carry on!





"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
Angelica _ann
#25 Posted : Friday, January 11, 2019 6:29:10 PM
Rank: Elder


Joined: 12/7/2012
Posts: 10,418
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Ericsson
#26 Posted : Friday, January 11, 2019 8:17:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
The final decision to put a bank that is facing distress under administration should be returned to the regulator CBK and not the Treasury CS.
jmbada
#27 Posted : Saturday, January 12, 2019 11:01:11 AM
Rank: Member


Joined: 1/1/2011
Posts: 366
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.
sparkly
#28 Posted : Saturday, January 12, 2019 12:42:38 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,929
Location: Enk are Nyirobi
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Life is short. Live passionately.
VituVingiSana
#29 Posted : Sunday, January 13, 2019 9:37:19 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,896
Location: Nairobi
Sober wrote:
jmbada wrote:
Ericsson wrote:
jmbada wrote:
Ericsson wrote:
The bank wasn't going to survive in the coming years.The owners are happy for that deal.

Pretty sure that there will be swift regulatory approval. May not bode well for the NIC deal though.


NIC deal will also go through.

Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop.
My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.


I believe the NIC deal was handles more carefully because of the long relations betweet the 2 big families. Additionally the deal included the CMA and other small shareholders like me with 100 shares i.e publicly listed company.

As for JBB, the deal can be equated to buying an item after a hawker flashing it to you on Tom Mboya Street as you head home one evening.
And that is a sober assessment.
1) JBB, unlike NIC, is not listed so the CMA isn't involved.
2) JBB is much smaller than NIC so Due Diligence can be completed sooner.
3) JBB has fewer shareholders (50%+) while NIC has Ndegwas with (officially) 25% + others.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#30 Posted : Sunday, January 13, 2019 9:49:53 AM
Rank: Chief


Joined: 1/3/2007
Posts: 15,896
Location: Nairobi
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up.

BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
jmbada
#31 Posted : Sunday, January 13, 2019 10:06:40 AM
Rank: Member


Joined: 1/1/2011
Posts: 366
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?

This is entirely my opinion.
mlennyma
#32 Posted : Sunday, January 13, 2019 11:01:54 AM
Rank: Elder


Joined: 7/21/2010
Posts: 5,936
Location: nairobi
jmbada wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?

This is entirely my opinion.

This is a serious forum stop this
"Don't let the fear of losing be greater than the excitement of winning."
sparkly
#33 Posted : Sunday, January 13, 2019 1:44:52 PM
Rank: Elder


Joined: 9/23/2009
Posts: 6,929
Location: Enk are Nyirobi
VituVingiSana wrote:
Sober wrote:
jmbada wrote:
Ericsson wrote:
jmbada wrote:
Ericsson wrote:
The bank wasn't going to survive in the coming years.The owners are happy for that deal.

Pretty sure that there will be swift regulatory approval. May not bode well for the NIC deal though.


NIC deal will also go through.

Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop.
My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.


I believe the NIC deal was handles more carefully because of the long relations betweet the 2 big families. Additionally the deal included the CMA and other small shareholders like me with 100 shares i.e publicly listed company.

As for JBB, the deal can be equated to buying an item after a hawker flashing it to you on Tom Mboya Street as you head home one evening.
And that is a sober assessment.
1) JBB, unlike NIC, is not listed so the CMA isn't involved.
2) JBB is much smaller than NIC so Due Diligence can be completed sooner.
3) JBB has fewer shareholders (50%+) while NIC has Ndegwas with (officially) 25% + others.


NIC also operates in Kenya, Uganda, Tanzania with business in traditional banking, investment banking, insurance, stock broking. DD and and regulatory approvals will definitely take time.
Life is short. Live passionately.
Horton
#34 Posted : Sunday, January 13, 2019 4:49:34 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,405
Location: Nairobi
mlennyma wrote:
jmbada wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?

This is entirely my opinion.

This is a serious forum stop this



πŸ˜†πŸ˜† however JB has trying to sell itself (no pun intended) for a while now. There were no takers. So I doubt CBA was trying to keep this under wraps and deployed NIC as a decoy.
Superprime1
#35 Posted : Monday, January 14, 2019 9:42:45 AM
Rank: Member


Joined: 5/2/2018
Posts: 200
sparkly wrote:
VituVingiSana wrote:
Sober wrote:
jmbada wrote:
Ericsson wrote:
jmbada wrote:
Ericsson wrote:
The bank wasn't going to survive in the coming years.The owners are happy for that deal.

Pretty sure that there will be swift regulatory approval. May not bode well for the NIC deal though.


NIC deal will also go through.

Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop.
My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.


I believe the NIC deal was handles more carefully because of the long relations betweet the 2 big families. Additionally the deal included the CMA and other small shareholders like me with 100 shares i.e publicly listed company.

As for JBB, the deal can be equated to buying an item after a hawker flashing it to you on Tom Mboya Street as you head home one evening.
And that is a sober assessment.
1) JBB, unlike NIC, is not listed so the CMA isn't involved.
2) JBB is much smaller than NIC so Due Diligence can be completed sooner.
3) JBB has fewer shareholders (50%+) while NIC has Ndegwas with (officially) 25% + others.


NIC also operates in Kenya, Uganda, Tanzania with business in traditional banking, investment banking, insurance, stock broking. DD and and regulatory approvals will definitely take time.

I suspect that even if the CBA deal doesn't go through, the major shareholders could decide to buyout the rest and de-list.

NIC should now share an update to stem all this speculation!
mlennyma
#36 Posted : Monday, January 14, 2019 10:42:39 AM
Rank: Elder


Joined: 7/21/2010
Posts: 5,936
Location: nairobi
Superprime1 wrote:
sparkly wrote:
VituVingiSana wrote:
Sober wrote:
jmbada wrote:
Ericsson wrote:
jmbada wrote:
Ericsson wrote:
The bank wasn't going to survive in the coming years.The owners are happy for that deal.

Pretty sure that there will be swift regulatory approval. May not bode well for the NIC deal though.


NIC deal will also go through.

Doubt that CBA can absorb and digest 2 different corporate cultures, balance sheets and client bases in one fell swoop.
My suspicion is that the earlier NIC announcement was intended to serve as a red herring to divert attention from other discussions on more easily-digestible acquisitions. Look specifically at the difference in tone betweeen the 2 announcements (as we all suspect by now, most journos are basically told what to write and what tone to set). One announcement was riddled with caveats and prevarication, while the 2nd announcement has been published as a fait accompli.


I believe the NIC deal was handles more carefully because of the long relations betweet the 2 big families. Additionally the deal included the CMA and other small shareholders like me with 100 shares i.e publicly listed company.

As for JBB, the deal can be equated to buying an item after a hawker flashing it to you on Tom Mboya Street as you head home one evening.
And that is a sober assessment.
1) JBB, unlike NIC, is not listed so the CMA isn't involved.
2) JBB is much smaller than NIC so Due Diligence can be completed sooner.
3) JBB has fewer shareholders (50%+) while NIC has Ndegwas with (officially) 25% + others.


NIC also operates in Kenya, Uganda, Tanzania with business in traditional banking, investment banking, insurance, stock broking. DD and and regulatory approvals will definitely take time.

I suspect that even if the CBA deal doesn't go through, the major shareholders could decide to buyout the rest and de-list.

NIC should now share an update to stem all this speculation!

the two families should make you a bit comfortable when seated here until you hear they are reducing their stake, can't you see the share is optimistic?
"Don't let the fear of losing be greater than the excitement of winning."
Sober
#37 Posted : Tuesday, January 15, 2019 10:14:02 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,591
VituVingiSana wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up.

BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.


Just imagining, how come after the Merger talk there has not been a price rally of the NIC shares? Some of us were already smiling that the big family will take up the shares from us at 80 bob so we recoup our losses. I am seeing sub-30
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Ericsson
#38 Posted : Tuesday, January 15, 2019 10:17:55 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
Sober wrote:
VituVingiSana wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up.

BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.


Just imagining, how come after the Merger talk there has not been a price rally of the NIC shares? Some of us were already smiling that the big family will take up the shares from us at 80 bob so we recoup our losses. I am seeing sub-30


80 bob is setting the bar too high
Angelica _ann
#39 Posted : Tuesday, January 15, 2019 10:38:47 AM
Rank: Elder


Joined: 12/7/2012
Posts: 10,418
Ericsson wrote:
Sober wrote:
VituVingiSana wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up.

BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.


Just imagining, how come after the Merger talk there has not been a price rally of the NIC shares? Some of us were already smiling that the big family will take up the shares from us at 80 bob so we recoup our losses. I am seeing sub-30


80 bob is setting the bar too high


The market became rational. There was a time in 2006 - 2010, such announcement would excite the market in a crazy manner and the share would be doing well over x3. Not any more.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Sober
#40 Posted : Wednesday, January 16, 2019 12:43:41 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,591
Ericsson wrote:
Sober wrote:
VituVingiSana wrote:
sparkly wrote:
jmbada wrote:
Angelica _ann wrote:
murchr wrote:
Mshwari moving to Jamii...so CBA + NIC will not include the mobile money loans element...mmmh!


Yap, they want to target high end client aka corporates & wakina swenani!!!

There is NO NIC deal. It was a head fake as they finalized the Jamii Bora deal.


Your opinion or fact? Link?
Laughing out loudly Laughing out loudly Laughing out loudly Even if the proposed deal with CBA is terminated, we know NIC is up for sale. Someone else may pop up.

BBK used to own NIC and now that ABSA owns/controls BBK... there's a possible combination that gives BBK a larger customer base and footprint.


Just imagining, how come after the Merger talk there has not been a price rally of the NIC shares? Some of us were already smiling that the big family will take up the shares from us at 80 bob so we recoup our losses. I am seeing sub-30


80 bob is setting the bar too high


That is the price I have for some of the NIC shares that I am holding. Considering that didn't happen on announcement then the current price of 28 bob is unfortunately the right valuation if not lower.
African 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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