Ageably a comforting set of results. But I actually was looking at it in full year terms and my thesis still holds. The First half growth is largely from base effect but look at the loan book, investments and deposit growth from December to now. Also bear in mind KCB has made less net income and PBT than they made in 2nd Half 2011. Unless something gives, I see the second half growth over second half being negative to produce 5-15% growth in EPS, suggesting unless a rally comes through,we are at or not far from max price of the year.

I Like to see full year provisions most of the time. What is also of concern is that with minimal momentum in loan and deposit growth, next year a time like this, there will be no such celebrations.

We were promised 40% growth in PBT and dividends in 2012... The way we are going the dream will come true..

Any investor would notice KCB books most of its profits/losses in the year end... Do not simply multiply the half year earnings by 2..

In 2011 FY results exceeded H1 results by 2.7 times..
So for 2011: 5 7 billion * 2.65 =15billion
& for 2012: 8.5billion * 2.65 = 22billion

This translates to an EPS of 5 and a DPS of 2.75 for 2012..