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CoopBank Q1 2011 - Brilliant results
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mlennyma
#21 Posted : Wednesday, April 27, 2011 10:41:51 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,191
Location: nairobi
We are in this market not to joke but to capture the next coin the quickest posible time.
"Don't let the fear of losing be greater than the excitement of winning."
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guru267
#22 Posted : Wednesday, April 27, 2011 10:43:37 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
VituVingiSana wrote:
youcan'tstopusnow wrote:
VituVingiSana wrote:
mlennyma wrote:
The 1st listed bank to pull the trigger has not disappointed.kenya is a great economy despite the politics,inflation and drought.
Or they are exploiting us... Funny, that when OMCs make a low ROA but prices of fuel go up... all are up in arms yet Kenya's largest OMC makes far less in 1 year than Barclays or Equity does in 1 quarter....

Laughing out loudlyLaughing out loudlyLaughing out loudly VVS, mafuta ni muhimu! I humbly suggest that people should stack their portfolios with banks. THIS IS THE DECADE OF THE BANKS!
I support free markets but if we are going for price controls then start with banks! Let the lending & savings rates be 'fixed' through a fair formula so banks will have to be more efficient on how they deliver services.


Banking is not an essential service therefore no grounds for price controls
Mark 12:29
Deuteronomy 4:16
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selah
#23 Posted : Wednesday, April 27, 2011 10:43:44 AM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
VituVingiSana wrote:
mlennyma wrote:
The 1st listed bank to pull the trigger has not disappointed.kenya is a great economy despite the politics,inflation and drought.
Or they are exploiting us... Funny, that when OMCs make a low ROA but prices of fuel go up... all are up in arms yet Kenya's largest OMC makes far less in 1 year than Barclays or Equity does in 1 quarter....

KK 1.77bn during entire 2010
Co-op 1.64bn in 1Q 2011
I expect Equity & KCB PAT to be even higher!


I think COOP is reaping from its prudent expansion strategy.If you analyse its expansion unlike Equity,Barclays and KCB their branch network is well thought out such that they only open a branch where it can sustain itself.

Take Isiolo for instance they operate a mobile bank as they survey sustainability of a branch.If you take KCB and Equity most of their profitability is eaten up by branches which are not sustainable.Equity for instance recorded loses in their Ugandan operation.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Cde Monomotapa
#24 Posted : Wednesday, April 27, 2011 10:43:46 AM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
youcan'tstopusnow wrote:
Kweli people were waiting for this results. So many people are 'peeping' into this threadsmile

I tell u man. @VVS..I have asked you before whether u r a Marxist coz @ times U introduce some very anti-capitalist thinking.
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mwanahisa
#25 Posted : Wednesday, April 27, 2011 10:47:56 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
Here is the link for those who may not have seen the results yet.

http://www.2shared.com/d...k_-_Q1_2011_results.html
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the deal
#26 Posted : Wednesday, April 27, 2011 10:51:31 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@YCS i'm looking at the results...my fears have been confirmed...other banks are in trouble...i will post my analysis on my blog...btwn i said 1Q is not a good measure lets wait for H1.
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QW25071985
#27 Posted : Wednesday, April 27, 2011 10:55:50 AM
Rank: Veteran


Joined: 3/25/2011
Posts: 946
[quote=mwanahisa]Here is the link for those who may not have seen the results yet.

http://www.2shared.com/d..._-_Q1_2011_results.html[/quote]

thank you very much....smile smile
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guru267
#28 Posted : Wednesday, April 27, 2011 10:56:55 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
the deal wrote:
@YCS i'm looking at the results...my fears have been confirmed...other banks are in trouble...i will post my analysis on my blog...btwn i said 1Q is not a good measure lets wait for H1.

KCB will do better than co op
Mark 12:29
Deuteronomy 4:16
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youcan'tstopusnow
#29 Posted : Wednesday, April 27, 2011 10:57:39 AM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Cde Monomotapa wrote:
@VVS..I have asked you before whether u r a Marxist coz @ times U introduce some very anti-capitalist thinking.

Laughing out loudlyLaughing out loudlyLaughing out loudlyLaughing out loudly Hiyo ni kali. Ati VVS MarxistLaughing out loudly Tell you what, VVS is the biggest Capitalist I know of in Wazua.
GOD BLESS YOUR LIFE
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youcan'tstopusnow
#30 Posted : Wednesday, April 27, 2011 11:04:47 AM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
selah, how sure are you that Equity Uganda has not made money in Q1 2011? Which bank doesn't take time to break even? Ata coop branches don't make profits in the first week. The reason behind Equity's heavy losses in Uganda is because it was an acquisition as opposed to a start-up. It took a while for whole systems to be overhauled. But a new management is in place and I believe the problems are behind them
GOD BLESS YOUR LIFE
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VituVingiSana
#31 Posted : Wednesday, April 27, 2011 11:06:56 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,221
Location: Nairobi
guru267 wrote:
VituVingiSana wrote:
youcan'tstopusnow wrote:
VituVingiSana wrote:
mlennyma wrote:
The 1st listed bank to pull the trigger has not disappointed.kenya is a great economy despite the politics,inflation and drought.
Or they are exploiting us... Funny, that when OMCs make a low ROA but prices of fuel go up... all are up in arms yet Kenya's largest OMC makes far less in 1 year than Barclays or Equity does in 1 quarter....

Laughing out loudlyLaughing out loudlyLaughing out loudly VVS, mafuta ni muhimu! I humbly suggest that people should stack their portfolios with banks. THIS IS THE DECADE OF THE BANKS!
I support free markets but if we are going for price controls then start with banks! Let the lending & savings rates be 'fixed' through a fair formula so banks will have to be more efficient on how they deliver services.


Banking is not an essential service therefore no grounds for price controls

I disagree. Banking predates petrol by many centuries! We would have more chaos if banking stopped vs no petrol [since we will find alternates to petroleum]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#32 Posted : Wednesday, April 27, 2011 11:06:57 AM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
QW25071985 wrote:
[quote=mwanahisa]Here is the link for those who may not have seen the results yet.

http://www.2shared.com/d..._-_Q1_2011_results.html[/quote]

thank you very much....smile smile

Has the NSE started exciting you?
GOD BLESS YOUR LIFE
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mwanahisa
#33 Posted : Wednesday, April 27, 2011 11:10:43 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
QW25071985 wrote:
[quote=mwanahisa]Here is the link for those who may not have seen the results yet.

http://www.2shared.com/d..._-_Q1_2011_results.html[/quote]

thank you very much....smile smile


Don't mention it.

It looks like your beloved Coop will make you some good money this year, notwithstanding what the deal says.
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mwanahisa
#34 Posted : Wednesday, April 27, 2011 11:12:56 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
Equity has definitely made money in Uganda in Q1 2011. I heard it from the horses own mouth i.e. James Mwangi. He made an elaborate and very impressive presentation during the AGM.

youcan'tstopusnow wrote:
selah, how sure are you that Equity Uganda has not made money in Q1 2011? Which bank doesn't take time to break even? Ata coop branches don't make profits in the first week. The reason behind Equity's heavy losses in Uganda is because it was an acquisition as opposed to a start-up. It took a while for whole systems to be overhauled. But a new management is in place and I believe the problems are behind them
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QW25071985
#35 Posted : Wednesday, April 27, 2011 11:13:05 AM
Rank: Veteran


Joined: 3/25/2011
Posts: 946
the deal wrote:
@YCS i'm looking at the results...my fears have been confirmed...other banks are in trouble...i will post my analysis on my blog...btwn i said 1Q is not a good measure lets wait for H1.


@ the deal. it looks like Mr Obama might be ordering another IPaD2 from you. you better stock up...Laughing out loudly Laughing out loudly Laughing out loudly

http://tnerd.com/2011/04/26/oh-look-that’s-president-obama-with-an-ipad-2/
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guru267
#36 Posted : Wednesday, April 27, 2011 11:13:50 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
youcan'tstopusnow wrote:
VituVingiSana wrote:
mlennyma wrote:
The 1st listed bank to pull the trigger has not disappointed.kenya is a great economy despite the politics,inflation and drought.
Or they are exploiting us... Funny, that when OMCs make a low ROA but prices of fuel go up... all are up in arms yet Kenya's largest OMC makes far less in 1 year than Barclays or Equity does in 1 quarter....

Laughing out loudlyLaughing out loudlyLaughing out loudly VVS, mafuta ni muhimu! I humbly suggest that people should stack their portfolios with banks. THIS IS THE DECADE OF THE BANKS!
I support free markets but if we are going for price controls then start with banks! Let the lending & savings rates be 'fixed' through a fair formula so banks will have to be more efficient on how they deliver services.


Banking is not an essential service therefore no grounds for price controls

I disagree. Banking predates petrol by many centuries! We would have more chaos if banking stopped vs no petrol [since we will find alternates to petroleum]


I disagree.. Especially in africa.. Millions of people live without bank accounts and banking does not affect food prices...
So high lending rates impacts a very small segment of the economy whereas fuel is a different story
Mark 12:29
Deuteronomy 4:16
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Fyatu
#37 Posted : Wednesday, April 27, 2011 11:15:03 AM
Rank: Veteran


Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
cough cough!!!Applause
Dumb money becomes dumb only when it listens to smart money
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Burning Spear
#38 Posted : Wednesday, April 27, 2011 11:17:41 AM
Rank: Veteran


Joined: 7/22/2008
Posts: 1,139
youcan'tstopusnow wrote:
selah, how sure are you that Equity Uganda has not made money in Q1 2011? Which bank doesn't take time to break even? Ata coop branches don't make profits in the first week. The reason behind Equity's heavy losses in Uganda is because it was an acquisition as opposed to a start-up. It took a while for whole systems to be overhauled. But a new management is in place and I believe the problems are behind them


Equity acquired Uganda Microfinance which was somehow struggling.They already had the branches which were not breaking even even before acquisation.

It takes time depending on the market to break even and start enjoying profits.
Look at South Sudan for example,there was a large number that was un-banked and thats why Equity and KCB broke even the 1st year of operations unlike Uganda which was soo developed and equity launched there like a competititor to other big established banks eg Nile,Stanbic,barclays and Catholic owned Centenary bank
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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mlennyma
#39 Posted : Wednesday, April 27, 2011 11:22:07 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,191
Location: nairobi
Equity entered uganda through an acquisition,i thot this was a strategy to avoid this breaking thing you are talking about...kwani they acquired a limping mongoloid?
"Don't let the fear of losing be greater than the excitement of winning."
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mwanahisa
#40 Posted : Wednesday, April 27, 2011 11:24:22 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
mlennyma wrote:
Equity entered uganda through an acquisition,i thot this was a strategy to avoid this breaking thing you are talking about...kwani they acquired a limping mongoloid?


Something like that, but it is now behind them.
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