Profit after tax slumped to Sh3.64 billion in the period under review down from Sh3.71 booked over a similar period last year. does it place the other banks at a better position in future?

Nice analysis from your blog as usual especially this one With no more custodial businesses to sell, investors might be forgiven for scampering for safety.

I have noticed the dismal performance but the interim dividend increased marginally from last years 0.75 to 0.80 (4 to 1 split). This is also a paltry 6% increase in interim dividend. As you said dividend is my game, but I still keep a distant eye on growth.

I will still wait for FY to decide might be to switch fully to another finance counter with a view to selling off to take more stake in Jubilee or Stanchart. My allocation for banking stocks is strictly for banking stocks and I have had enough of KCB and Equity but there is more room for Jub or Stanchart from my finance sector allocation formula.

Btw I would like to see your analysis on NMG H1 result
if that is your usual practice without going out of your way ?

Regards

I wouldnt dismiss BBK just yet...with all those cuts cost to income ratio is still 57%...so still room for more cuts..

That's swell and how about on the business front?

@young, why wait for the year to end? Are you expecting BBK to grow faster than Equity, KCB, or Co-op?

Its like you are on the Titanic, it's going down, yet saying, let it sink a bit further so that I get out. Bolt! my Nigerian brother

A terrible show from Barclay's Bank Kenya (BBK), I expect the operating environment in the 2H to be more challenging than the 1H due to high inflation and high interest rates, in fact the Shilling slipped to a fresh all time low today, CBK has no option now than to pop up that repo rate , at a forward EPS of Sh1.4, if BBK is able to maintain this performance through out the year, the bank will trade on a forward PE of 11.1 at the current price of Sh15.60, I still maintain my 1Q recommendation of REDUCE.

Read more here http://www.contrarianinv...e-deep-cut-in-costs.html

Barclays constitute less than 5% of my holdings in BBK ??

okay i see from page 8 DN that BBK "appreciates the words of gratitude expressed to it by the Matiba family" Well BBK seems you do read wazua most of these things are about perception and thank you for changing the perception look at how KCB treated uchumi and learn a good lesson.

On the flip side if a blue chip with good antecedents like BBK slumps considerably and they come up better biz plans , it may become an opportunity for long termers like me to buy more. The home office in UK will not go to sleep there may be better biz ideas beyond regional expansion (like local banks) which is not their biz model.

Barclays Plc has enough headache at this time. BBK must be among the last things on its mind.