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SCBK 3Q 2010
Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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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
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Rank: Member Joined: 7/28/2007 Posts: 290 Location: Nairobi
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Check the operating profit FY09 compared to 3Q2010...
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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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
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Rank: User Joined: 6/27/2008 Posts: 709 Location: Velayat-e Faryab
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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
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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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
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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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'
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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Thanks BGL, I have been obsessively logging to nse.co.ke to check out these results, unfortunately today they were not as chap chap
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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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
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Rank: Chief Joined: 1/3/2007 Posts: 18,215 Location: Nairobi
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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
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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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
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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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?
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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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...
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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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
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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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
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Rank: Veteran Joined: 9/4/2009 Posts: 700 Location: Nairobi
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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
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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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.
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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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. ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16 - 1769 Oxford King James Bible 'Authorized Version
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Rank: Member Joined: 10/5/2007 Posts: 91
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@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...
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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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
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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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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