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KCB in another round of job cuts
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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I thought the economy was growing and banks were making super profits. http://www.businessdailyafrica.com/
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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Systems efficiency also results to job cuts. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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KCB's Good-2-Great prog. rolls on...Awesome  Watch out, the former CFO (like most CFOs) will make this huge Lion have the agility of an Antelope.
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Rank: User Joined: 6/18/2009 Posts: 271
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[quote=streetwise] I thought the economy was growing and banks were making super profits. http://www.businessdailyafrica.com/[/quote] i feel like slapping you head off. what would you rather believe ? the MARKET or the press ?
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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techboy wrote:[quote=streetwise] I thought the economy was growing and banks were making super profits. http://www.businessdailyafrica.com/[/quote] i feel like slapping you head off. what would you rather believe ? the MARKET or the press ? Eh hee techboy in his element! Life is short. Live passionately.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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[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....mp;id=740&Itemid=264
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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[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.
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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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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. Uncertainty is certain.Let go
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Cde, I think they had a target of achieving a 50 percent Cost:Income ratio by the end of this Full Year GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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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
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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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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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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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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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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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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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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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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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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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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Rank: Elder Joined: 2/23/2009 Posts: 1,626
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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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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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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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KCB in another round of job cuts
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