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I&M Bank FY 2011 results
Rank: Member Joined: 12/15/2010 Posts: 162
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@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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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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@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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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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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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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,790 Location: NAIROBI
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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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Rank: New-farer Joined: 5/11/2011 Posts: 63
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I&M is already on NSE thru City Trust
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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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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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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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?  GOD BLESS YOUR LIFE
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Rank: Elder Joined: 12/4/2009 Posts: 10,790 Location: NAIROBI
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@youcan'tstopusnow Yes Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/15/2010 Posts: 162
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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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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Wazua leads, other follow! http://www.businessdaily.../-/67k89vz/-/index.html
"I&M private share sale nets 2.4bn for expansion" Has anyone used the M-Pesa + Prepaid Debit Card? [If you have M-Pesa why would you need a Prepaid Card?] Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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To load up your card via mpesa when you are abroad (ask someone to mpesa you). CRAZY!! 
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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I&M had a major marketing campaign last year which brought in alot of new deposits, hence the phenomenal growth in deposit base. IM not so sure the deposits will grow that fast this year though. Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm...
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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The Merchant wrote:To load up your card via mpesa when you are abroad (ask someone to mpesa you). CRAZY!! Lakini, isn't the Prepaid card in Kenya Shillings? [I know there is a US$ Prepaid Card but is that linked to M-Pesa too?] I do not understand the benefit to someone in Kenya. Or is it geared towards regional travel where M-Pesa does not work? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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Check out this quote from the article (and don't bash me because its from an analyst,he could be one of us):
'Though the management of the bank said that they had no immediate plans float an IPO, analysts said they expected I&M to list in three to four years.“Development partners usually have an exit strategy and the best exit for them in Sub-Sahara has been listing,” said Mr Mwangi.'
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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Sorry, this was the item I wanted to highlight! Wazuans were way ahead about discussing these firms and events. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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VVS, I bet there is BDAFRICA writer who is a registered member of Wazua. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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The Merchant wrote:Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm... That is an excellent idea! 20mn is a lot of cash for one person but not for 20 joined together! Apparently the CMA (Company Act) wanted less than 100 shareholders thus to raise 2.4bn I&M Bank needed to sell large chunks to each investor. Even then it was 26% oversubscribed without widespread advertising. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,261 Location: Nairobi
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The Merchant wrote:Check out this quote from the article (and don't bash me because its from an analyst,he could be one of us):
'Though the management of the bank said that they had no immediate plans float an IPO, analysts said they expected I&M to list in three to four years.“Development partners usually have an exit strategy and the best exit for them in Sub-Sahara has been listing,” said Mr Mwangi.' I would say 2 years from now [after the 2012 elections] so 2013 unless we have a repeat of 2008! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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VituVingiSana wrote:The Merchant wrote:Investors, however, seem to love this company including the wazua folk. We should have formed a co. ASAP and bought the minimum shares on offer. Hmmmm... That is an excellent idea! 20mn is a lot of cash for one person but not for 20 joined together! Apparently the CMA (Company Act) wanted less than 100 shareholders thus to raise 2.4bn I&M Bank needed to sell large chunks to each investor. Even then it was 26% oversubscribed without widespread advertising. Yup! 20 of us put in a million each and there we are, we can start discussing a company we own part of. Just sacrifice a few tuskers each!!!! 
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I&M Bank FY 2011 results
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