The RBA has directed Standard Chartered's Pension Fund Trustees to individually assess claims by Non-629 former employees using the same RBAT framework that cost the bank Ksh 7 billion.
With potential total exposure estimated at Ksh 30 billion, and a 90-day deadline running from 15th June 2026, expect fresh provisioning pressure, another profit warning, and further downside on #SCBK at the NSE.
The pension liability that was supposed to be "settled" just got bigger.
@kenyanwalstreet@bankelele@WaruhiuFranklin@moneyacademyKE@BD_Africa@kahome_steve@SaddiqueShaban@bizreportkenya@Ramah_Nyang@MwangoCapital
@moneyacademyKE This theft is spreading back to the 1970s… most of the beneficiaries are dead. So when i read some one commenting ‘where were those people’… I don’t know whether to cry or laugh.
@KibetBullbackup You’re totally off target. Mission was to crush him and it has backfired terribly. Started way back with Moi , but Riggy G is not your regular ‘shauri ya Mungu’ person.
@DavidNdii You have a point only that the shakers this time round are children and it’s their way or the highway. They have absolutely nothing to lose but everything to gain.