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CO OP 3Q 2012 RESULTS
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the deal
#11 Posted : Monday, November 19, 2012 9:35:54 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Just check page 4 of the Q3 2012 earnings, there was a huge jump in supplementary capital from KES455mn to KES3.5bn, where did that figure come from? very fishy if you ask me.
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mwekez@ji
#12 Posted : Monday, November 19, 2012 10:16:08 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
Just check page 4 of the Q3 2012 earnings, there was a huge jump in supplementary capital from KES455mn to KES3.5bn, where did that figure come from? very fishy if you ask me.


........... borrowed funds .........
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the deal
#13 Posted : Monday, November 19, 2012 11:05:22 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
the deal wrote:
Just check page 4 of the Q3 2012 earnings, there was a huge jump in supplementary capital from KES455mn to KES3.5bn, where did that figure come from? very fishy if you ask me.


........... borrowed funds .........

Agreed, it must be the loan from the ECB or the IFC, it has helped them improve their capital ratio's...I think its time to take positions on this laggard!
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guru267
#14 Posted : Monday, November 19, 2012 11:14:17 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
the deal wrote:
I think its time to take positions on this laggard


This bank is relatively expensive based on P/E, price/book and dividend yield..

The likes of Simba & memba are still better buys
Mark 12:29
Deuteronomy 4:16
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the deal
#15 Posted : Monday, November 19, 2012 11:27:39 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
guru267 wrote:
the deal wrote:
I think its time to take positions on this laggard


This bank is relatively expensive based on P/E, price/book and dividend yield..

The likes of Simba & memba are still better buys


I think FY 2012 EPS will come in at KES1.86 which equates to a PE of 6.2 and a DY of 3.2% at the current price...not bad valuations...interesting in Q3 2012 their cost of funds dropped, loan book and deposits accelerated but non interest revenue still struggling despite a strong recovery in their bond portfolio...could be the beginning of good things from this laggard....
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guru267
#16 Posted : Tuesday, November 20, 2012 11:04:05 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
the deal wrote:
guru267 wrote:
the deal wrote:
I think its time to take positions on this laggard


This bank is relatively expensive based on P/E, price/book and dividend yield..

The likes of Simba & memba are still better buys


I think FY 2012 EPS will come in at KES1.86 which equates to a PE of 6.2 and a DY of 3.2% at the current price...not bad valuations...interesting in Q3 2012 their cost of funds dropped, loan book and deposits accelerated but non interest revenue still struggling despite a strong recovery in their bond portfolio...could be the beginning of good things from this laggard....


Ive had a second look at the stock and i agree the valuations aren't so bad... Just as long as that low dividend yield is coupled with a bonus issue of like 1:6
Pray
Mark 12:29
Deuteronomy 4:16
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