kcb
- Thread starter wrongturn
- Start date
KCB bank to slowdown auctioning the property of defaulters. It will help struggling firms by renegotiating the terms on loans for easier pay back, and may add more money to help them turn around. — Business Daily
KCB Bank says companies in road construction, hospitality and manufacturing sectors are the biggest defaulters. — Business Daily
Always remember that the bank is not your friend. The part of them helping struggling firms is actually they helping themselves recover their money. As I mentioned, this is a plan B for KCB because there are no buyers for the property they seize from defaulters. Kama simple motor vehicle zinawashinda kuuza, how will they sell road construction machinery?
Anyway, below is what one of the CEO said a while back.
Jug
Elder Lister
Kaluworks ya Chandaria comes to mind...si last week NCBA walirudisha Kampuni due to no bidders after stating their intent to Auction the Company
The KQ one is a bit complicated. They were arm twisted by treasury to convert their facilities to equity or lose the money altogether.
Makhalanganga
Elder Lister
Borrowers collude with bank officials and valuers to overvalue collateral. The bank is this left with overvalued property that no one wants to buy while the law is clear that hutauza kitu ya mtu hasara. What a time to be liquid.
bigDog
Elder Lister
It would be interesting to see what's been auctioned. Many businesses are auctioned because they run out of money and fail to service their loans. It's not that all of them are bankrupt!
Denis Young
Elder Lister
I smell big money in banking stocks. I am having some KCB stock transfered to me soon and I would advice anyone to pick some up. The bond Ruto suggested to help pay pending bills will really help the defaulters and the banks as well.