Lucid1:



GTB has over 9b being owed to them in the form of long term loans given out and they're still balling. Check their end of year acoounts

I agree that 9b can cripple a bank but GTB isn't that bank.

No mind am. Maybe he's talking of igbo owned bank like incompetent diamond bank.

Lucid1:
Most Nigerian youths are draft!

N9b debt can't close GTB down, mind you, their capital base is over 25billion naira

This line of thought is becoming stale already. Doing some readings about how the corporate business world is run. Or better still, relax and watch events unfold.

ednut1:
the banl had 170n profit after tax in 2017. What is 9b to it

I thought you would have known better. The declared profit is for the banks shareholders not for the banknto use and be settling gbese.... No investor will sit back and watch the directors of a company pay out over 8billion in debts in liquid cash... before the transaction is even concluded the investors would have taken what is left of the investment elsewhere.
Watch GTB stock prices from next and come back to tell me that everything is normal.

eagleeye2:

I thought you would have known better. The declared profit is for the banks shareholders not for the banknto use and be settling gbese.... No investor will sit back and watch the directors of a company pay out over 8billion in debts in liquid cash... before the transaction is even concluded the investors would have taken what is left of the investment elsewhere.
Watch GTB stock prices from next and come back to tell me that everything is normal.

as an ex banker my bank wrote off a 30b loan as the company went into adminisration. Heaven no fall. Gtb can assume the 8b is a non performing loan and move ob noni

ednut1:
as an ex banker my bank wrote off a 30b loan as the company went into adminisration. Heaven no fall. Gtb can assume the 8b is a non performing loan and move ob noni

Not in this case. Your bank could have written off 30b loan in bad debt without any publicity. In this case the 8b is a payment that has been awarded by the supreme court with its attendant publicity. Not to talk of the Writ of FiFa that followed the judgment.
As an ex banker, you believe that from Monday there will be panic withdrawal and offloading of the bank's shares and you know what that means.

eagleeye2:

Not in this case. Your bank could have written off 30b loan in bad debt without any publicity. In this case the 8b is a payment that has been awarded by the supreme court with its attendant publicity. Not to talk of the Writ of FiFa that followed the judgment.
As an ex banker, you believe that from Monday there will be panic withdrawal and offloading of the bank's shares and you know what that means.

https://nairametrics.com/2015/08/20/bankrupt-afren-the-nigerian-banks-that-could-suffer-185m-loan-loss it was in the news. If them like let dem withdraw lol. No bank can pay all its depositors at a go

ednut1:
https://nairametrics.com/2015/08/20/bankrupt-afren-the-nigerian-banks-that-could-suffer-185m-loan-loss it was in the news. If them like let dem withdraw lol. No bank can pay all its depositors at a go

I went through the link and it is not talking about any particular bank which supports my initial assertion that if your bank had to write off 30b in bad loans it was not in the news.
All commercial banks in Nigeria are exposed to bad loans it comes with the territory. But this case, Gtb management allowed a 2.2b debt to rise to 8.7 and you are telling me that investors will clap for them and congratulate them for their business sagacity. Then encourage them to pay out the 8.7 in raw cash... haa

eagleeye2:

I went through the link and it is not talking about any particular bank which supports my initial assertion that if your bank had to write off 30b in bad loans it was not in the news.
All commercial banks in Nigeria are exposed to bad loans it comes with the territory. But this case, Gtb management allowed a 2.2b debt to rise to 8.7 and you are telling me that investors will clap for them and congratulate them for their business sagacity. Then encourage them to pay out the 8.7 in raw cash... haa

so na until dem open mouth talk am ba. Afren went under they have not paid the so called loans till date lol. The 2.2b was not a debt . Bt was an amount innoson claimed was overcharged from the loan they got from gtb. Learn to read abeg. GtB would have thought they would win na

ednut1:
so na until dem open mouth talk am ba. Afren went under they have not paid the so called loans till date lol. The 2.2b was not a debt . Bt was an amount innoson claimed was overcharged from the loan they got from gtb. Learn to read abeg. GtB would have thought they would win na

When they overcharged the loan to the tune of 2.2 billion, and innoson asked them to pay back what then does the 2.2 billion become?
Don't even understand your logic, if Afren went under and didn't pay their debt, is that what you are wishing for gtb? Because if they insist on paying, the assets will be sold of or they can file for bankruptcy and that is the end of gtb.
So what is your argument?

eagleeye2:

When they overcharged the loan to the tune of 2.2 billion, and innoson asked them to pay back what then does the 2.2 billion become?
Don't even understand your logic, if Afren went under and didn't pay their debt, is that what you are wishing for gtb? Because if they insist on paying, the assets will be sold of or they can file for bankruptcy and that is the end of gtb.
So what is your argument?

last last gtb can pay 8b easily abeg. If gtb gave out a loan of 8b and it goes bad. Would they shake

ednut1:
last last gtb can pay 8b easily abeg. If gtb gave out a loan of 8b and it goes bad. Would they shake

I will be damned if gtb will fvuck out 8.8bilion to pay innoson group of companies in raw cash. Lie lie, it won't happen. They will come to the negotiating table and this time around it is the board and the management of the company that will do the negotiating.

eagleeye2:

I will be damned if gtb will fvuck out 8.8bilion to pay innoson group of companies in raw cash. Lie lie, it won't happen. They will come to the negotiating table and this time around it is the board and the management of the company that will do the negotiating.

loan of 8b that went bad no he raw cash Nothing to negotiate abeg. Supreme court judgement is final

eagleeye2:

Not in this case. Your bank could have written off 30b loan in bad debt without any publicity. In this case the 8b is a payment that has been awarded by the supreme court with its attendant publicity. Not to talk of the Writ of FiFa that followed the judgment.
As an ex banker, you believe that from Monday there will be panic withdrawal and offloading of the bank's shares and you know what that means.

Panic withdrawing over a judgement debt of N8.8bn? Seriously

Depositors will go about their business on Monday like the judgement debt never happened.

Beside the bad publicity this has brought GTbank, which I am sure will be contained in no time, it's business as usual on Monday... goes to show how financially healthy GTbank is.

This is not to say it was right for GTbank to have been reckless in its dealing with Innoson.

SpaceTour:
This will definitely affect GTB so much that their customer base will dwindle so fast. GTB made a very big mistake fighting this guy. By Monday most depositors will start rushing to withdraw their money.

Shear holders also will offload like mad.

ednut1:
the banl had 170n profit after tax in 2017. What is 9b to it

most of the profit belongs to depositors as unpaid interest overlapping

mbos:


most of the profit belongs to depositors as unpaid interest overlapping

google net interest income

maslong:

Shear holders also will offload like mad.

As dem no get sense na

mbos:


most of the profit belongs to depositors as unpaid interest overlapping

Wow! Belongs to who? Banks don't practise cash basis accounting sir... or how else can one explain this reasoning