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KCB HY 2011 results are here!
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FUNKY
#21 Posted : Thursday, July 28, 2011 2:27:32 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
Yes they should have declared and interim dividend of atleast 50cts and the lion would have ROARED. Now i see a price dip to around 22 levels.
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Insurgent
#22 Posted : Thursday, July 28, 2011 2:40:14 PM
Rank: User


Joined: 8/6/2010
Posts: 594
EPS in 2010 for the group was 2.58
EPS in 2011 for the group is 2.75

The KCB EPS for the second half year is usually very tiny. So, KCB EPS is not likely to go above 3 shillings for the full year end.


"One man gives freely, yet gains even more; another withholds unduly, but comes to poverty. A generous man will prosper; he who refreshes others will himself be refreshed." Rev Canon Karanja.
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kenyainvestor
#23 Posted : Thursday, July 28, 2011 2:46:56 PM
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Joined: 7/12/2011
Posts: 194
Difference between Equity and KCB narrowing.

Analysis to come on my blog
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selah
#24 Posted : Thursday, July 28, 2011 2:49:45 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
staff cost jumped by a whooping 1Billion and some very interesting figures when you look at balances and deposits due to and from banking institution a broad(reminds me of the speculative attack on the shilling)
'......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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Kaka M
#25 Posted : Thursday, July 28, 2011 3:02:27 PM
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Joined: 4/18/2011
Posts: 459
selah wrote:
staff cost jumped by a whooping 1Billion and some very interesting figures when you look at balances and deposits due to and from banking institution a broad(reminds me of the speculative attack on the shilling)


Could these be the severance pay for the staff who left a few months ago? Could these have affected the PAT? Just thinking.
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meme
#26 Posted : Thursday, July 28, 2011 3:16:59 PM
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Joined: 7/20/2011
Posts: 161
Location: nairobi
hey...I am new here..like very new...could someone lpease tell me what PAT and PBT mean??
Patience. You cannot have a baby in one month by impregnating nine women....
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mlennyma
#27 Posted : Thursday, July 28, 2011 3:19:07 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,191
Location: nairobi
Profit before tax/profit after tax.
"Don't let the fear of losing be greater than the excitement of winning."
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kenyainvestor
#28 Posted : Thursday, July 28, 2011 3:20:50 PM
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Joined: 7/12/2011
Posts: 194
Bad debts at KCB down from Sh1b to Sh840m
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Mainat
#29 Posted : Thursday, July 28, 2011 3:39:42 PM
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Joined: 11/21/2006
Posts: 1,590
Kenyainvestor-I find that somewhat counter-intuitive given the times Kenyans are living in.
Banks are rarely ahead of the curve on bad debts. On bad debts, I expect the opposite to be true when it releases its audited figures next March
Sehemu ndio nyumba
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Impunity
#30 Posted : Thursday, July 28, 2011 3:58:40 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,330
Location: Masada
@meme,PBT and PAT means Nktesticals.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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young
#31 Posted : Thursday, July 28, 2011 4:04:36 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,048
Location: Lagos, Nigeria
For speculators Equity is it.
For long term KCB as it will outperform Equity due to cost saving measures that will reflect in late 2012/2013
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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the deal
#32 Posted : Thursday, July 28, 2011 4:08:18 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Sluggish numbers from KCB
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FUNKY
#33 Posted : Thursday, July 28, 2011 4:21:34 PM
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Joined: 4/30/2010
Posts: 1,635
@ Young - How can you say that KCB will outperform Equity due to cost saving measures because like KCB even Equity restructured it top management and retired several senior staff voluntarily.
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Gordon Gekko
#34 Posted : Thursday, July 28, 2011 4:38:15 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
kenyainvestor wrote:
All board members contributed 10,000 to feed Kenyans who face the threat of hunger


1. cents or shillings?
2. Each or all put together?

I hope my sarcasm and disgust at the results is noted.
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young
#35 Posted : Thursday, July 28, 2011 4:40:01 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,048
Location: Lagos, Nigeria
FUNKY wrote:
@ Young - How can you say that KCB will outperform Equity due to cost saving measures because like KCB even Equity restructured it top management and retired several senior staff voluntarily.


KCB has far bigger balance sheet than Equity.
There more costs to cut in the oversized KCB and MOO is looking in that direction. Factor in the new funds injected by last years rights issue.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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kenyainvestor
#36 Posted : Thursday, July 28, 2011 4:55:25 PM
Rank: Member


Joined: 7/12/2011
Posts: 194
Gordon Gekko wrote:
kenyainvestor wrote:
All board members contributed 10,000 to feed Kenyans who face the threat of hunger


1. cents or shillings?
2. Each or all put together?

I hope my sarcasm and disgust at the results is noted.


Noted!smile
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kenyainvestor
#37 Posted : Thursday, July 28, 2011 4:58:53 PM
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Joined: 7/12/2011
Posts: 194
Forex Income up only 8%. More was expected from all the volatility

Gekko, how much rise in PAT/PBT did you expect?
KCB is much closer to Equity now than it was at Q1.

But a cost:income ratio of 50% (as management wants) seems so far away

LINK: KENYA COMMERCIAL BANK HALF YEAR 2011 ANALYSIS PROFIT BEFORE TAX UP 36.4%
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kenyainvestor
#38 Posted : Thursday, July 28, 2011 5:00:54 PM
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Joined: 7/12/2011
Posts: 194
Mainat wrote:
Kenyainvestor-I find that somewhat counter-intuitive given the times Kenyans are living in.
Banks are rarely ahead of the curve on bad debts. On bad debts, I expect the opposite to be true when it releases its audited figures next March


James Mwangi of Equity say that he will not be raising interest rates and thus does not expect the level of defaults to go up
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young
#39 Posted : Thursday, July 28, 2011 5:11:10 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,048
Location: Lagos, Nigeria
@kenyainvestor / other experts

Let me ask again, why does NSE reckon with PBT rather than PAT.? It is the only market I invest in that believes so much in PBT.
I think PAT is the key as it dictates the EPS.

Any thoughts or just the kenyan way ?
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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kenyainvestor
#40 Posted : Thursday, July 28, 2011 5:18:58 PM
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Joined: 7/12/2011
Posts: 194
young wrote:
@kenyainvestor / other experts

Let me ask again, why does NSE reckon with PBT rather than PAT.? It is the only market I invest in that believes so much in PBT.
I think PAT is the key as it dictates the EPS.

Any thoughts or just the kenyan way ?


Does KCB and Equity get taxed at the same rate?

In 2005, the Kenya Government agreed to reduce the level of taxation to 20% for a period of 5 years for any company that chose to list. This was done to encourage listing at the NSE. Equity listed in 2006.

Thus until next year, we cannot compare these two on Profit After Tax
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