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I&M Bank FY 2011 results
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invest0r
#21 Posted : Monday, May 23, 2011 10:38:23 AM
Rank: Member

Joined: 12/15/2010
Posts: 162
@VVS, its true, according to CBK Prudential Guidelines, under CBK/PG/10 on Publication of Financial Statements and Other Disclosures, the following incomes are classified as ‘other operating incomes’:
1. Bond trading income
2. Rental income
3. Gain on sale of fixed assets
4. any other miscellaneous incomes arising from normal banking operations

According to my observation from the full year annual reports, Bond trading income comprises more than 70% of the total ‘other income’. Even in banks earning rental income.
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VituVingiSana
#22 Posted : Monday, May 23, 2011 11:04:10 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
@investor - The full accounts/financial statements have the breakdown but the CBK format used for quarterly reporting does not. They should break out the line item for Bond Trading Income so we can monitor [rather than guessing] what is happening under 'Other Income"...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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The Merchant
#23 Posted : Monday, May 23, 2011 11:29:26 AM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Banks expect to make a killing this year from the volatile shilling.
@vvs, maybe we ought to be more optimistic for h1 results? Banks have a way of making money come rain or judgement day!!
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mukiha
#24 Posted : Monday, May 23, 2011 12:08:11 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
VituVingiSana wrote:
@investor @cde The 'Other Income' should be split up by [per CBK reporting guidelines] into Bond Trading & other income e.g. rent, etc

Some banks get rental income e.g.
I&M @ Kenyatta Ave building has Safaricom, Standard Newspapers, etc
NIC @ masaba rd has other tenants as well
KCB @ Hilton has most offices as non-KCB!!! Doctors, lawyers, etc

So it is better for analysts to get a more detailed quarterly look at the split between the Bond Trading Income & 'other' (non-core) income...

@VVS; Kencom house does not belong to KCB.... neither does Barclays Plaza belong to BBK...
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Ericsson
#25 Posted : Monday, May 23, 2011 12:17:57 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
Kencom House belongs to KCB while Barclays Plaza belongs Barclays to the pension fund
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pedro_Nasinyama
#26 Posted : Monday, May 23, 2011 12:26:47 PM
Rank: New-farer

Joined: 5/11/2011
Posts: 63
I&M is already on NSE thru City Trust
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VituVingiSana
#27 Posted : Monday, May 23, 2011 12:29:48 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
mukiha wrote:
VituVingiSana wrote:
@investor @cde The 'Other Income' should be split up by [per CBK reporting guidelines] into Bond Trading & other income e.g. rent, etc

Some banks get rental income e.g.
I&M @ Kenyatta Ave building has Safaricom, Standard Newspapers, etc
NIC @ masaba rd has other tenants as well
KCB @ Hilton has most offices as non-KCB!!! Doctors, lawyers, etc

So it is better for analysts to get a more detailed quarterly look at the split between the Bond Trading Income & 'other' (non-core) income...

@VVS; Kencom house does not belong to KCB.... neither does Barclays Plaza belong to BBK..

Kencom House is owned by KCB. The attempt to transfer it to the Pension Fund failed...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Monday, May 23, 2011 12:30 PM | Reason: Not specified
youcan'tstopusnow
#28 Posted : Monday, May 23, 2011 2:17:24 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Ericsson wrote:
Kencom House belongs to KCB while Barclays Plaza belongs Barclays to the pension fund

And the new building next to Equity Centre in Upper Hill Belongs to KCB Pension Fund. Ama?Pray
GOD BLESS YOUR LIFE
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Ericsson
#29 Posted : Monday, May 23, 2011 3:35:40 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
@youcan'tstopusnow Yes
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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invest0r
#30 Posted : Tuesday, May 24, 2011 11:27:50 AM
Rank: Member

Joined: 12/15/2010
Posts: 162
VituVingiSana wrote:
@investor - The full accounts/financial statements have the breakdown but the CBK format used for quarterly reporting does not. They should break out the line item for Bond Trading Income so we can monitor [rather than guessing] what is happening under 'Other Income"...


I hope someone in a position of responsibility in CBK has noted your observation. We need to get this info especially in this period when bond trading income is decreasing and banks are facing losses due to lower value of government securities held for trading purposes
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  | | Edit by user: Tuesday, May 24, 2011 11:52 AM | Reason: Not specified
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