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ABSA - regional bank
Realtreaty
#1 Posted : Wednesday, March 25, 2020 12:30:06 PM
Rank: Veteran


Joined: 8/16/2011
Posts: 2,079
Good to see that the one international Barclays bank mutate to regional bank under new wall ABSA
It has maintained the dividend though they say they are still spending to re-brand.

It is a new kid on the street and i see it will start acquiring other small banks and societies soon to keep it as tier 1

This is still an indicate Africans should grow their businesses as the White heirs/heiress are incapable of maintaining their forefathers businesses.

We ought to start producing more and improving by processing to finished products and services.

Barclays was built on stolen wood and forced labor.
Ericsson
#2 Posted : Wednesday, March 25, 2020 12:39:40 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,402
Location: NAIROBI
Realtreaty wrote:
Good to see that the one international Barclays bank mutate to regional bank under new wall ABSA
It has maintained the dividend though they say they are still spending to re-brand.

It is a new kid on the street and i see it will start acquiring other small banks and societies soon to keep it as tier 1

This is still an indicate Africans should grow their businesses as the White heirs/heiress are incapable of maintaining their forefathers businesses.

We ought to start producing more and improving by processing to finished products and services.

Barclays was built on stolen wood and forced labor.

Check who occupies the first position of the shareholding of ABSA
Angelica _ann
#3 Posted : Wednesday, March 25, 2020 4:54:40 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,486
Ericsson wrote:
Realtreaty wrote:
Good to see that the one international Barclays bank mutate to regional bank under new wall ABSA
It has maintained the dividend though they say they are still spending to re-brand.

It is a new kid on the street and i see it will start acquiring other small banks and societies soon to keep it as tier 1

This is still an indicate Africans should grow their businesses as the White heirs/heiress are incapable of maintaining their forefathers businesses.

We ought to start producing more and improving by processing to finished products and services.

Barclays was built on stolen wood and forced labor.

Check who occupies the first position of the shareholding of ABSA


Barclays smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
aemathenge
#4 Posted : Thursday, April 09, 2020 10:26:10 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,279
Location: Kerugoya
Haiya! Now What?

Quote:
Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)


Source: https://www.reuters.com/...ule-lapses-idUSL5N2BX14Z
Sober
#5 Posted : Thursday, April 09, 2020 11:05:10 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
[quote=aemathenge]Haiya! Now What?

Quote:
Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)


Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote]

How much was this forex transaction in question?
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
HaMaina
#6 Posted : Thursday, April 09, 2020 11:56:02 AM
Rank: Member


Joined: 4/23/2014
Posts: 727
Absa Kenya Suspended as a Foreign Exchange Dealer for Flouting Rules
“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
kawi254
#7 Posted : Thursday, April 09, 2020 12:42:03 PM
Rank: Member


Joined: 2/20/2015
Posts: 374
Location: Nairobi
Sober wrote:
[quote=aemathenge]Haiya! Now What?

Quote:
Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)


Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote]

How much was this forex transaction in question?


Where is the punishment in that statement? The period Absa Kenya is blocked from forex market is mostly a Bank holiday (Easter weekend)...unless by "reversing the transaction" means Absa Kenya takes the hit of the amount transacted i.e The Client has already bolted with the money.
Ericsson
#8 Posted : Saturday, April 11, 2020 8:28:57 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,402
Location: NAIROBI
kawi254 wrote:
Sober wrote:
[quote=aemathenge]Haiya! Now What?

Quote:
Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)


Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote]

How much was this forex transaction in question?


Where is the punishment in that statement? The period Absa Kenya is blocked from forex market is mostly a Bank holiday (Easter weekend)...unless by "reversing the transaction" means Absa Kenya takes the hit of the amount transacted i.e The Client has already bolted with the money.

PR by Opus Dei
Angelica _ann
#9 Posted : Saturday, April 11, 2020 10:41:49 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,486
Ericsson wrote:
kawi254 wrote:
Sober wrote:
[quote=aemathenge]Haiya! Now What?

Quote:
Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)


Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote]

How much was this forex transaction in question?


Where is the punishment in that statement? The period Absa Kenya is blocked from forex market is mostly a Bank holiday (Easter weekend)...unless by "reversing the transaction" means Absa Kenya takes the hit of the amount transacted i.e The Client has already bolted with the money.

PR by Opus Dei


At least an indicator to the rest of the world!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
VituVingiSana
#10 Posted : Friday, April 17, 2020 7:44:49 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,021
Location: Nairobi
“This is, however, not possible at the moment since the appellant (Keroche) is already heavily indebted on account of overdraft facilities and numerous bank loans from Absa Bank Kenya Plc, which it is required to service through monthly instalments of Sh57,000,000,” she said.
https://www.businessdail...6530-10nyikrz/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
RIEK01
#11 Posted : Friday, April 17, 2020 8:37:08 AM
Rank: New-farer


Joined: 2/8/2018
Posts: 66
https://www.bloomberg.co...xpansion-bourse-listing

It is likely that the loan relates to the 5B loan that was sourced in 2015 as per the above link. Assuming its repayment has been on track with no new loans or rescheduling, the balance would be for 1 year,thus there may be a potential write off for approximately 600M if not more.
aemathenge
#12 Posted : Wednesday, April 22, 2020 11:39:25 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,279
Location: Kerugoya
There is "too much English" in the article below.

Would someone be so kind and translate it for us ABSA "retail" shareholders?

Thank you.

Quote:
Yada, yada, yada.

The decision by CBK has been criticized by a number of legal analyst and economists.

Through social media platform twitter Senior Counsel (SC) Ahmednasir Abdullahi, accused CBK Governor of micro-managing banks.

He further claimed that the Governor was using coercive administrative tools to strengthen the shilling against market forces and intimidate banks.

On his part renowned economist David Ndii, was categorical that CBK is propping up the shilling by intimidating banks.

He termed CBK actions as regulatory over-reach.

Did the CBK have the legal authority to take the administrative action against ABSA Bank Kenya?

Yada, yada, yada.


Source Link: https://www.the-star.co....a-regulatory-over-reach/
ARAPCHARLEE
#13 Posted : Sunday, May 03, 2020 11:09:53 PM
Rank: New-farer


Joined: 4/28/2019
Posts: 48
Location: Talai
Barclays ex-staff lose long battle for Sh600m

https://www.nation.co.ke...541008-iosyi4/index.html
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