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SCBK 3Q 2010
VituVingiSana
#1 Posted : Tuesday, November 02, 2010 3:44:25 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Quite good. Sorry I can't cut & paste them but I hope someone can do so!

KShs 4.3bn for 3Q 2010 (FY 2009 was 4.73bn) so they are way ahead of last year!

I would not be surprised if SCBK has already beat 4.7bn by 31st Oct 2010...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
extrablessed
#2 Posted : Tuesday, November 02, 2010 3:48:20 PM
Rank: Member


Joined: 7/28/2007
Posts: 290
Location: Nairobi
Check the operating profit FY09 compared to 3Q2010...
VituVingiSana
#3 Posted : Tuesday, November 02, 2010 3:53:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Suspended from trading coz of the Results being released... Probably start again tomorrow... 300???
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Surealligator
#4 Posted : Tuesday, November 02, 2010 4:19:24 PM
Rank: User


Joined: 6/27/2008
Posts: 709
Location: Velayat-e Faryab
VituVingiSana wrote:
Quite good. Sorry I can't cut & paste them but I hope someone can do so!

KShs 4.3bn for 3Q 2010 (FY 2009 was 4.73bn) so they are way ahead of last year!

I would not be surprised if SCBK has already beat 4.7bn by 31st Oct 2010...



@Vitumob

SCBK paid 3.5 billion for the BBK custodial business. They had raised 2.5 billion by rights issue. Where did the 1 billion difference come from?

In otherwords, SCBK will have to reflect the shortfall of 1 billion in their books for the FY ending Dec, 2010.

This shortfall however has not been captured by 3Q results.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
BGL
#5 Posted : Tuesday, November 02, 2010 4:40:56 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
VituVingiSana wrote:
Quite good. Sorry I can't cut & paste them but I hope someone can do so!


For StanChat Q3 results bonyeza hapa http://www.2shared.com/d...CBrQnEkJ/3qtr_SCBK.html

What is happening at NSE... they do not upload results as often as they did.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
Sober
#6 Posted : Tuesday, November 02, 2010 4:50:12 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
VituVingiSana wrote:
Suspended from trading coz of the Results being released... Probably start again tomorrow... 300???



these shares traded. closed ato 271. am not sure of the averages.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
My 2 cents
#7 Posted : Tuesday, November 02, 2010 4:52:09 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,075
Thanks BGL, I have been obsessively logging to nse.co.ke to check out these results, unfortunately today they were not as chap chap
My 2 cents
#8 Posted : Tuesday, November 02, 2010 5:25:16 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,075
I project full year PAT to be about 5.5B against last years 4.7B
This will represent EPS of 19/=, and a value of 285 per share if PE is held constant at 15
VituVingiSana
#9 Posted : Tuesday, November 02, 2010 5:33:29 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Surealligator wrote:
VituVingiSana wrote:
Quite good. Sorry I can't cut & paste them but I hope someone can do so!

KShs 4.3bn for 3Q 2010 (FY 2009 was 4.73bn) so they are way ahead of last year!

I would not be surprised if SCBK has already beat 4.7bn by 31st Oct 2010...



@Vitumob

SCBK paid 3.5 billion for the BBK custodial business. They had raised 2.5 billion by rights issue. Where did the 1 billion difference come from?

In otherwords, SCBK will have to reflect the shortfall of 1 billion in their books for the FY ending Dec, 2010.

This shortfall however has not been captured by 3Q results.

The payment of KES 1bn is an 'investment in a subsidiary' or some sort of capital account figure probably not reflected as a P&L item...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
the deal
#10 Posted : Tuesday, November 02, 2010 5:40:14 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
NOT GOOD AT ALL...
NAIROBI (Reuters) - Standard Chartered Bank Kenya reported a 19 percent rise in pretax profit for the nine months to September thanks to cost management and new products, and said it was well positioned for the next quarter.

Standard Chartered, the third biggest bank by assets in east Africa's largest economy, predicted a good performance in the fourth quarter, and said it would remain vigilant of any shocks that may affect the banking system globally.

"We have remained disciplined on costs and processes and innovative on products and services," Chief Executive Richard Etemesi said in a statement on Tuesday.

The bank said pretax profit rose to 6.19 billion shillings compared with 5.2 billion shillings last year, while loans and advances increased by 14 percent to 55 billion shillings.

Deposits rose 12 percent to 100 billion shillings, and bad loans fell to 1.6 billion shillings from 1.7 billion shillings.

KCB, Kenya's biggest bank by assets, reported a 23 percent rise in pretax earnings, while Equity Bank posted a 53 percent rise in pretax profits.

Shares in Standard Chartered closed on Monday at 279 shillings. On Tuesday, share price information was unavailable because of technical problems at the stock exchange
My 2 cents
#11 Posted : Tuesday, November 02, 2010 5:47:52 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,075
the deal wrote:
NOT GOOD AT ALL...
NAIROBI (Reuters) - Standard Chartered Bank Kenya reported a 19 percent rise in pretax profit for the nine months to September thanks to cost management and new products, and said it was well positioned for the next quarter.

Standard Chartered, the third biggest bank by assets in east Africa's largest economy, predicted a good performance in the fourth quarter, and said it would remain vigilant of any shocks that may affect the banking system globally.

"We have remained disciplined on costs and processes and innovative on products and services," Chief Executive Richard Etemesi said in a statement on Tuesday.

The bank said pretax profit rose to 6.19 billion shillings compared with 5.2 billion shillings last year, while loans and advances increased by 14 percent to 55 billion shillings.

Deposits rose 12 percent to 100 billion shillings, and bad loans fell to 1.6 billion shillings from 1.7 billion shillings.

KCB, Kenya's biggest bank by assets, reported a 23 percent rise in pretax earnings, while Equity Bank posted a 53 percent rise in pretax profits.

Shares in Standard Chartered closed on Monday at 279 shillings. On Tuesday, share price information was unavailable because of technical problems at the stock exchange


I fail to understand what is not good about these results. Would you prefer phantom paper profits? Jumps of 50% perhaps?
the deal
#12 Posted : Tuesday, November 02, 2010 6:57:20 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
My 2 cents wrote:
the deal wrote:
NOT GOOD AT ALL...
NAIROBI (Reuters) - Standard Chartered Bank Kenya reported a 19 percent rise in pretax profit for the nine months to September thanks to cost management and new products, and said it was well positioned for the next quarter.

Standard Chartered, the third biggest bank by assets in east Africa's largest economy, predicted a good performance in the fourth quarter, and said it would remain vigilant of any shocks that may affect the banking system globally.

"We have remained disciplined on costs and processes and innovative on products and services," Chief Executive Richard Etemesi said in a statement on Tuesday.

The bank said pretax profit rose to 6.19 billion shillings compared with 5.2 billion shillings last year, while loans and advances increased by 14 percent to 55 billion shillings.

Deposits rose 12 percent to 100 billion shillings, and bad loans fell to 1.6 billion shillings from 1.7 billion shillings.

KCB, Kenya's biggest bank by assets, reported a 23 percent rise in pretax earnings, while Equity Bank posted a 53 percent rise in pretax profits.

Shares in Standard Chartered closed on Monday at 279 shillings. On Tuesday, share price information was unavailable because of technical problems at the stock exchange


I fail to understand what is not good about these results. Would you prefer phantom paper profits? Jumps of 50% perhaps?

From being an outlier to lagging the likes of KCB sums it all...the run rate is slowing Q by Q...
Sufficiently Philanga....thropic
#13 Posted : Tuesday, November 02, 2010 6:59:34 PM
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Joined: 9/23/2010
Posts: 2,221
Location: Sundowner,Amboseli
Sober wrote:
VituVingiSana wrote:
Suspended from trading coz of the Results being released... Probably start again tomorrow... 300???



these shares traded. closed ato 271. am not sure of the averages.

The stock was suspended during trading as is normally the case if a quoted/listed company decides to release results when the market is still open. This happened to KCB also when they released their results during trading about 2 weeks ago!
@SufficientlyP
guru267
#14 Posted : Tuesday, November 02, 2010 11:51:05 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
the deal wrote:

From being an outlier to lagging the likes of KCB sums it all...the run rate is slowing Q by Q...

@the deal this is a simple concept when dealing with stanchart...


Due to the structure of its conservative loan portfolio it can only outperform banks like equity and KCB in times of RECESSION but seriously lags these same banks during BOOM times...

Next year this gap should get worse as economic growth gets better...
Mark 12:29
Deuteronomy 4:16
Scubidu
#15 Posted : Wednesday, November 03, 2010 10:00:23 AM
Rank: Veteran


Joined: 9/4/2009
Posts: 700
Location: Nairobi
If you strip out revenues from bond trading and their core business income really aint all that. They're really going to have to step out of their niche markets and lend aggressively.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
My 2 cents
#16 Posted : Wednesday, November 03, 2010 10:05:21 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,075
In my books, a growth of 19% is very good esp. for a bank like Stanchart. It is a figure I can bank on. Forgive the pun. Unlike some others who report uber but suspect PATs.
ProverB
#17 Posted : Wednesday, November 03, 2010 10:10:09 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
Scubidu wrote:
If you strip out revenues from bond trading and their core business income really aint all that. They're really going to have to step out of their niche markets and lend aggressively.


please note.. Richard Etemesi came to the helm with serious strategy of bond trading that turned fortunes for stanchart around and held it afloat for years..

As long as he's still the top honcho at stanchart you cannot not factor in bond trading.. safest almost risk free loan book segment they have.
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Hi-Lo
#18 Posted : Wednesday, November 03, 2010 10:48:50 AM
Rank: Member


Joined: 10/5/2007
Posts: 91
@alligator...the Ksh 3.5bn BBK biz is a 50/50 JV between SCB Kenya (1.8bn) and SCB Plc (1.7bn)...now do the math...
the deal
#19 Posted : Wednesday, November 03, 2010 10:53:08 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Down to 260...investors were expected more n whose the fool who bought at 280 2 days ago...factoring in a period of slow growth it should come down
My 2 cents
#20 Posted : Wednesday, November 03, 2010 11:12:43 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,075
I suppose investors are an unpredictable lot. EB with its 56% growth also did a dive.........I personally would be more than happy to add to my SBCK positions at prices below 250
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