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Nairaland Forum / Nairaland / General / Business / Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue (11873 Views)
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Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Adesiji77: 9:16pm On Jul 20, 2016 |
Sterling Bank Plc has ended talks to buy rival Keystone Bank Limited after finding it an unsuitable fit and is now focused on raising funds as it considers other acquisitions, its chief finance officer, Abubakar Suleiman, said on Tuesday. http://www.thisdaylive.com/index.php/2016/07/20/sterling-bank-ends-talks-to-buy-keystone-plans-bond-issue/
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Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by 360ng: 10:16pm On Jul 20, 2016 |
SORRY, WHAT IS KEYSTONE? 1 Like 1 Share |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Nobody: 10:16pm On Jul 20, 2016 |
no b small thing oo,,FTC |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by solidman59(m): 10:16pm On Jul 20, 2016 |
TTC |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by lamideee(f): 10:19pm On Jul 20, 2016 |
Wetin concern me? |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by dguizman(m): 10:21pm On Jul 20, 2016 |
Keystone is a dead bank already...thanks for the service they rendered for me right frm the bank phb days. 2 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Nobody: 10:23pm On Jul 20, 2016 |
If it's not economic for them maybe... Need something on Jumia? CONTACT ME NOW! |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Millz404(m): 10:23pm On Jul 20, 2016 |
I bin tink say na micro finance bank be dat sef.... |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Daniel058(m): 10:26pm On Jul 20, 2016 |
Keystone bank too dull 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by LeemahT(f): 10:29pm On Jul 20, 2016 |
Keystone bank is gradually going down the drain 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by GoldCircle: 10:29pm On Jul 20, 2016 |
Why won't they take to their heels after seeing what happened to Skye Bank after they swallowed something (Former Afribank/Mainstreet bank) bigger than their stomach could accommodate?! A word is enough for the wise! Na leaf wey dey sweet goat, dey kill am! 4 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by san316(m): 10:30pm On Jul 20, 2016 |
Bad market for keystone, the unworthy bride. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by dadebayo1(m): 10:32pm On Jul 20, 2016 |
What is happening to keystone bank? Noticed they have shut down the office at awolowo Road ibadan.. More job loss to those working at that particular branch.. Too bad 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Adesiji77: 10:34pm On Jul 20, 2016 |
dadebayo1: "Awolowo Road"? You mean at Bodija? 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Adesiji77: 10:38pm On Jul 20, 2016 |
san316: Looping LeemahT It may not necessarily mean that they are going down the drain or be an "unworthy bride" as you put it. In Sterling Bank words: “We reviewed Keystone Bank and concluded the strategic fit was not strong enough...." In my humble opinion, that could be anything from branch network to customer segmentation... Let us watch as events unfold. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by sanandreas(m): 10:43pm On Jul 20, 2016 |
They have been sending me messages and account balance I ended my marriage with them last year. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by san316(m): 10:46pm On Jul 20, 2016 |
Adesiji77:Keystone bank as it is, with its loan portfolio and NPLs it can hardly serve any bank's strategic interest. The branch network cannot be the cause because it arguably has more branches than main street bank. It was put in the market along with enterprise and main street bank but its the only one standing. The bank's former board of directors really dealth with the bank. Corruption in high places. They should just convert the bank to a hotel joor. Kidding though 2 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Adesiji77: 10:49pm On Jul 20, 2016 |
san316: You better be kidding 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by san316(m): 10:57pm On Jul 20, 2016 |
Adesiji77:abeg oo. Before one keystone staff commit suicide for my head. LolZ. From open account to come lodge. 2 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Nobody: 11:05pm On Jul 20, 2016 |
I'd have preferred GTBANK to Sterling. The former is an epitome of efficiency and innovation . 1 Like |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by obembet(f): 11:07pm On Jul 20, 2016 |
hope we are safe.... I have #10m in keystone |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Damfostopper(m): 11:39pm On Jul 20, 2016 |
I have hundred of thousands in my keystone account.... I no wan here tori o |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Chukazu: 11:48pm On Jul 20, 2016 |
dguizman: it's Sanusi that killed that banks. bank PHB use to be the most creative and innovative bank but Sanusi came, saw and destroyed. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by remzytimer: 12:18am On Jul 21, 2016 |
Please will this move bring back our shares back to market, I mean the shares we bought when it was bank PHB..... |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Adesiji77: 12:20am On Jul 21, 2016 |
GoldCircle: See extract of an article that I just came across. [b]Why we are worried Sterling Bank’s about face decision to ditch the Keystone Bank acquisition is commendable having seen the experience of Skye Bank. However, this raises the pressure on the bank to do a deal that can help strengthen its capital adequacy ratio following the floating of the naira and the disastrous economic data reeled in 2016 Q2. Sterling Bank is dancing on the edges with a Capital Adequacy ratio of 16.1% (6.10%above the regulatory requirement for Tier 2 banks) and Liquidity ratio improved substantially to 46%. These appear great on paper but recent events give us concerns. Here are some other chilling stats from the bank; Downstream accounted for the highest sector impairment at 31.9%; two customers accounted for about 70% of the impaired assets A single customer accounted for about 67% of non-performing loans in the manufacturing sector; however, the loans were past due but not impaired NPL ratio remained flat at 4.8%, while cost of risk improved by 70 basis points to 1.6% Sterling Bank has N99 billion in loans to the Oil and Gas Sector and another N15 billion exposure to the Power Sector. Both sectors are currently considered vulnerable following the dip in oil price and the recent struggles in the power sector. Another N48 billion is lent to the beleaguered Real Estate Sector. Out of Sterling Bank’s N338 billion loans N147 billion is denominated in foreign currency. Oil and Gas alone got about N86 billion in foreign currency denominated loans (see below). Sterling Bank shares is down 29% year to date and trading at an earnings multiple of 4.2x. It is yet to release its 2016 Half Year results.[/b] http://nairametrics.com/why-we-are-worried-that-sterling-bank-chickened-out-of-buying-keystone-bank/ 2 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Nobody: 12:34am On Jul 21, 2016 |
360ng:it's the key for stonning Banks |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by Nobody: 12:36am On Jul 21, 2016 |
Damfostopper:You better withdraw before it's too late |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by rhektor(m): 1:55am On Jul 21, 2016 |
360ng: Google is your friend |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by obstead200(m): 2:35am On Jul 21, 2016 |
Bolustic:it is not in GTB strategic plan to expand thru acquisition. I hope they stick to their strategy of internal driven expansion. one sure firm step at a time is far better than a huge unsteady leap. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by obstead200(m): 2:49am On Jul 21, 2016 |
Chukazu:abeg talk what u know. what is wrong with Nigerians sef? FYI, I was a staff in one of these toxic banks when the sanusi tsunami came. although sanusi took a very hard stance, it was necessary at that time. Those banks were being run worse than a state government treasury. the strategic looting by the management (MD and executive directors) were barely concealed. Infact it was very clear. it is true that staff were being well paid to keep them happy and make the banks look prosperous. But if, as a staff, u are sound in Accounting and financial mgt and u understand the concepts of enterprise risk management, corporate govenance and going concern, then, from a mile away, u would see the doom awaiting your organisation. 5 Likes |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by dadebayo1(m): 5:09am On Jul 21, 2016 |
Adesiji77: Yes.. The branch at bodija... I noticed the bank is no longer functioning.. |
Re: Sterling Bank's Talk To Buy Keystone Ends, Plans Bond Issue by eluquenson(m): 5:43am On Jul 21, 2016 |
Keystone has lost their share in the financial market, what a pity. Even sterling bank looks skeptical |
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