wazua Mon, Sep 22, 2025
Welcome Guest Search | Active Topics | Log In

2 Pages12>
NIC BANK H1 2011 RESULTS
Options
Previous Topic · Next Topic
FUNKY
#1 Posted : Thursday, August 18, 2011 11:37:05 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
Back to top
 Report Abusive | Report SPAM
FUNKY
#2 Posted : Thursday, August 18, 2011 11:41:15 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
Pre tax profits jump by 33 percent driven by growth in loans and net interest income.
Back to top
 Report Abusive | Report SPAM
muganda
#3 Posted : Thursday, August 18, 2011 11:43:16 AM
Rank: Elder


Joined: 9/15/2006
Posts: 3,906
Aheem! These final few banks should do the necessary this and next week.
http://af.reuters.com/article/i...ws/idAFJOE77H05D20110818

NIC Bank shows growth of 33% on the back of exactly equal growth in net loans and advances, net interest income -- effeciency, I see.

EPS rose to 2.65. Does this mean a forward PE of 6.3 at today's price of 33.50? This is like the cheapest bank on the block at the moment.
Back to top
 Report Abusive | Report SPAM | Edit by moderator: Thursday, August 18, 2011 11:47 AM | Reason: topics merged
FUNKY
#4 Posted : Thursday, August 18, 2011 11:52:03 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
@ muganda - i agree with you,NIC bank is a good buy at the current price.
Back to top
 Report Abusive | Report SPAM
Cde Monomotapa
#5 Posted : Thursday, August 18, 2011 12:06:17 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Interesting.
Back to top
 Report Abusive | Report SPAM
selah
#6 Posted : Thursday, August 18, 2011 12:16:47 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.
'......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
Back to top
 Report Abusive | Report SPAM
Cde Monomotapa
#7 Posted : Thursday, August 18, 2011 2:08:11 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
The div.yield is unattractive though.especially at 3,500* points.
Back to top
 Report Abusive | Report SPAM
the deal
#8 Posted : Thursday, August 18, 2011 2:35:16 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Back to top
 Report Abusive | Report SPAM
mkonomtupu
#9 Posted : Thursday, August 18, 2011 3:32:32 PM
Rank: Veteran


Joined: 2/10/2010
Posts: 1,001
Location: River Road
@deal why do you think economy will go in to a tail spin so soon. I think the companies associated with the anchor shareholders will bring liquidity to NIC
Back to top
 Report Abusive | Report SPAM
Sober
#10 Posted : Thursday, August 18, 2011 4:01:22 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
@selah, i waited for the 30-32 range but i gave up and recouped the shares that i had sold at 42 at the price of 33.00 i dont see the releaase of resilts impacting on the price this week.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Back to top
 Report Abusive | Report SPAM
Gordon Gekko
#11 Posted : Thursday, August 18, 2011 4:01:35 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
Cde Monomotapa wrote:
The div.yield is unattractive though.especially at 3,500* points.


Yes, but the regular bonuses amply make up.
Back to top
 Report Abusive | Report SPAM
the deal
#12 Posted : Thursday, August 18, 2011 5:27:13 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mkonomtupu wrote:
@deal why do you think economy will go in to a tail spin so soon. I think the companies associated with the anchor shareholders will bring liquidity to NIC

Lets hope so, because borrowing and lending in this environment is not viable, otherwise 2H will be hit hard i.e net interest margins will go down...since more than 60% of NIC's total operating income comes from interest income they're very vulnerable to any changes in interest rates...well the economy? as a business would you borrow at those alarming rates? having said that lets wait for 3Q things will be clear by then, right now we are just assumingsmile
Back to top
 Report Abusive | Report SPAM
kenyainvestor
#13 Posted : Thursday, August 18, 2011 8:32:48 PM
Rank: Member


Joined: 7/12/2011
Posts: 194
Cost:Income ratio down 3.9% to stand at 46.22%, easily beating Diamond Trust Bank’s 51.4% which was until now the lowest of the NSE listed banks which have released their Half Year results

Subsidiaries contributed 38% more profit in 1H 2011 than they did in 1H 2010

2H though likely to be much tougher for NIC.

Infact, it seems that they have already started to suffer in Q2.

Expenses were up in Q2. Net Non Perfroming Laons were up 115% from the previous half year

NIC made slightly less profits in Q2 2011 than Q1 2011.

For more details, check out my blog

LINK: NIC BANK HALF YEAR 2011 ANALYSIS
LATEST BLOG POST: NSE BANKING SECTOR REPORT - THE TOP 5
FACEBOOK: Kenya Investing
TWITTER HANDLE: @kenyainvestor
Back to top
WWW
 Report Abusive | Report SPAM | Edit by user: Thursday, August 18, 2011 10:05 PM | Reason: Not specified
Cde Monomotapa
#14 Posted : Thursday, August 18, 2011 9:35:37 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Wow...I look forward to a KCB Group with a C.T.I.R of below 50%
Back to top
 Report Abusive | Report SPAM
guru267
#15 Posted : Tuesday, October 11, 2011 4:57:13 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.


time to put your money where your mouth is..
Mark 12:29
Deuteronomy 4:16
Back to top
 Report Abusive | Report SPAM
Sober
#16 Posted : Tuesday, October 11, 2011 6:02:58 PM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
guru267 wrote:
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.


time to put your money where your mouth is..


the sub-30 level has already been tested. I am waiting for a sub 28 so that i buy enough to bring my average to 30.00 because as it stands i am at 33.25.
This is the only counter that my broker can see on my balance sheet now.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Back to top
 Report Abusive | Report SPAM
guru267
#17 Posted : Tuesday, October 11, 2011 6:25:02 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Sober wrote:
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.



I am waiting for a sub 28 so that i buy enough to bring my average to 30.00 because as it stands i am at 33.25


@Sober looks like you've joined the club.. NIC closed at 27.75.. Care to put your money where your mouth is??

www.wazua.co.ke/investor/latestprices.aspx
Mark 12:29
Deuteronomy 4:16
Back to top
 Report Abusive | Report SPAM | Edit by user: Tuesday, October 11, 2011 6:26 PM | Reason: Not specified
Gordon Gekko
#18 Posted : Tuesday, October 11, 2011 8:02:22 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
I can't help but pat myself in the back for dumping it at 55. I just wish CBK is compelled to name the 5 banks - it will be doing very low twenties.
Back to top
 Report Abusive | Report SPAM
hisah
#19 Posted : Wednesday, October 12, 2011 6:20:45 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Gordon Gekko wrote:
I can't help but pat myself in the back for dumping it at 55. I just wish CBK is compelled to name the 5 banks - it will be doing very low twenties.

From 55 to 27.75 means almost 50% down. NBK too has sunk with similar margins. Waiting to see more carnage on bank stocks. Of course they'll be a time to buy them with an explosive rally to boot.

Moral of the story - when banks report outrageous profits e.g. 60%+ it's time to take cover & inflation spikes are just a few months away.

Where else have I spotted the same? China. What will happen to their bank stocks in 2012, downhill... And with a hot real estate... At the moment some gubberment investment firm is buying (PPT) the top 4 banks. Yap, gubberment wont let Mr Market selloff bank stocks. Shanghai & HSI (@young invests here) equities are slated for a rough 2012... The mood in Asia is being flagged the most by KOSPI. I expect a number of hedgefunds to short Asia after Europe in 2012.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
Back to top
 Report Abusive | Report SPAM
the deal
#20 Posted : Wednesday, October 12, 2011 7:31:23 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I feel bad I gave a recommendation on this stock but I never bought...sorry for everybody who bought but I outlined the risks that faced this counter in that report.
Back to top
 Report Abusive | Report SPAM
Users browsing this topic
Guest
2 Pages12>
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2025 Wazua.co.ke. All Rights Reserved.