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KCB in another round of job cuts
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Cde Monomotapa
#11 Posted : Thursday, February 21, 2013 7:02:15 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
ChessMaster wrote:
mawinder wrote:
[quote=Cde Monomotapa][quote=streetwise]
I thought the economy was growing and banks were making super profits.

http://www.businessdailyafrica.com/[/quote]
FYI: KCB Kenya - KCB Announces New Organization Structure...May 2011 http://www.kcbbankgroup....p;id=740&Itemid=264[/quote]
Yes but the new delivery channels e.g agent banking,mbanking,internet banking,atms,pos terminals etc have reduced the frequency of people visiting banks.For instance,it is more than a year since I was served by a teller for my salary account.


Sounds like a case of technological unemployment.

T24 - "Baba yao" ~> Kenya Commercial Bank selects TEMENOS T24 to support branches - 2007 http://www.temenos.com/n...to-support-131-branches/
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mawinder
#12 Posted : Thursday, February 21, 2013 7:09:05 PM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
Cde Monomotapa wrote:
ChessMaster wrote:
[quote=mawinder][quote=Cde Monomotapa][quote=streetwise]
I thought the economy was growing and banks were making super profits.

http://www.businessdailyafrica.com/[/quote]
FYI: KCB Kenya - KCB Announces New Organization Structure...May 2011 http://www.kcbbankgroup....p;id=740&Itemid=264[/quote]
Yes but the new delivery channels e.g agent banking,mbanking,internet banking,atms,pos terminals etc have reduced the frequency of people visiting banks.For instance,it is more than a year since I was served by a teller for my salary account.


Sounds like a case of technological unemployment.

T24 - "Baba yao" ~> Kenya Commercial Bank selects TEMENOS T24 to support branches - 2007 http://www.temenos.com/n...o-support-131-branches/[/quote]
What systems does Barclays use?Are they still on flex?
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hisah
#13 Posted : Thursday, February 21, 2013 7:18:07 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
As long as management can continue to deliver C.A.G.R of 20% on PAT, investors will back them. Fat dividends is all I want. The stock price will follow suit.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#14 Posted : Thursday, February 21, 2013 7:43:46 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Cde Monomotapa wrote:
youcan'tstopusnow wrote:
Cde, I think they had a target of achieving a 50 percent Cost:Income ratio by the end of this Full Year

Interesting then we should be looking toward a more efficient bank in a 'normal' interest rates regime reinforced by expanding biz - and at that juncture, this m'bus will have transformed into a n'jet. #RealTalk

Actually the initial target was end of 2012 as stated in this March 2011 article when the restructuring had just begun
http://www.mobile.reuter...7272IY20110308?irpc=932
But I see M.O.O updated the timeframe to the end of 2014
http://www.businessdaily.../-/12gmyhz/-/index.html
GOD BLESS YOUR LIFE
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WWW
  | | Edit by user: Thursday, February 21, 2013 7:46 PM | Reason: Not specified
Cde Monomotapa
#15 Posted : Thursday, February 21, 2013 8:04:00 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
youcan'tstopusnow wrote:
Cde Monomotapa wrote:
youcan'tstopusnow wrote:
Cde, I think they had a target of achieving a 50 percent Cost:Income ratio by the end of this Full Year

Interesting then we should be looking toward a more efficient bank in a 'normal' interest rates regime reinforced by expanding biz - and at that juncture, this m'bus will have transformed into a n'jet. #RealTalk

Actually the initial target was end of 2012 as stated in this March 2011 article when the restructuring had just begun
http://www.mobile.reuter...7272IY20110308?irpc=932
But I see M.O.O updated the timeframe to the end of 2014
http://www.businessdaily.../-/12gmyhz/-/index.html

I see. The rates spike last year slowed the momentum mosdef. Nonetheless, even with all those more Billions in Cost of Funds KCB still pulled a mid 50s Cost-T-I by Q3, FY '12. Let's see how the Full Year's are then.
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  | | Edit by user: Thursday, February 21, 2013 8:08 PM | Reason: Not specified
ChessMaster
#16 Posted : Thursday, February 21, 2013 8:18:44 PM
Rank: Elder

Joined: 2/23/2009
Posts: 1,626
mawinder wrote:
Cde Monomotapa wrote:
ChessMaster wrote:
[quote=mawinder][quote=Cde Monomotapa][quote=streetwise]
I thought the economy was growing and banks were making super profits.

http://www.businessdailyafrica.com/[/quote]
FYI: KCB Kenya - KCB Announces New Organization Structure...May 2011 http://www.kcbbankgroup....p;id=740&Itemid=264[/quote]
Yes but the new delivery channels e.g agent banking,mbanking,internet banking,atms,pos terminals etc have reduced the frequency of people visiting banks.For instance,it is more than a year since I was served by a teller for my salary account.


Sounds like a case of technological unemployment.

T24 - "Baba yao" ~> Kenya Commercial Bank selects TEMENOS T24 to support branches - 2007 http://www.temenos.com/n...o-support-131-branches/[/quote]
What systems does Barclays use?Are they still on flex?


I have no clue.
Uncertainty is certain.Let go
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Cde Monomotapa
#17 Posted : Thursday, February 21, 2013 8:36:00 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Cde Monomotapa wrote:
youcan'tstopusnow wrote:
Cde Monomotapa wrote:
youcan'tstopusnow wrote:
Cde, I think they had a target of achieving a 50 percent Cost:Income ratio by the end of this Full Year

Interesting then we should be looking toward a more efficient bank in a 'normal' interest rates regime reinforced by expanding biz - and at that juncture, this m'bus will have transformed into a n'jet. #RealTalk

Actually the initial target was end of 2012 as stated in this March 2011 article when the restructuring had just begun
http://www.mobile.reuter...7272IY20110308?irpc=932
But I see M.O.O updated the timeframe to the end of 2014
http://www.businessdaily.../-/12gmyhz/-/index.html

I see. The rates spike last year slowed the momentum mosdef. Nonetheless, even with all those more Billions in Cost of Funds KCB still pulled a mid 50s Cost-T-I by Q3, FY '12. Let's see how the Full Year's are then.

By Q3 KCB Kenya had CoF of 8.7B (up from 1.9B!) That's 2.9 bob/share! Yawa...that should be no. 1 on Management's mind this year.
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  | | Edit by user: Thursday, February 21, 2013 8:40 PM | Reason: Not specified
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