Probably the CFO job is "overwhelming" due to targets. Just guesing.

Equity Bank released 1Q13 results with net loans rising 15%y/y; total assets up 21%y/y. Loan growth is now driven by SME book, 57% of total versus 43% in 1Q12. The bank noted that there was also a slowdown in agency transactions in 1Q13. There was also a reduction in the contribution from regional business to 13% from 17%. Customer deposits notched 14% y/y higher while borrowed funds climbed 66%y/y. Interest expenses fell 31.4%y/y to KES 1.1bn as interest rates in the economy declined. As a result, net interest income quickened 20.7% to KES 6.8bn. Net interest margin improved 10bpy/y to 13.5% while cost to income ratio fell to 49.9% from 50.9%; ROE declined to 30.7% from 31.3%. Net Interest income rose 20.6%y/y supported by decline in cost of deposits; total income up 13.2%y/y to KES 10.2bn; NIR flat at +0.3%y/y; loan loss provision down 6.4%y/y with OPEX up 8%y/y to KES 5.7bn. NPL ratio rose to 5.2% from 3.1% with the key driver being SME book. Management attributes this to uncertainties around elections. Management optimistic of recoveries as SME book fully collateralized. Coverage reduced to 58% from 77%. This led PBT to climb 20.7% for the year to KES 4.5bn. Overall, the 1Q13 performance had more negatives than positives. (Company filing, Standard Investment Bank)

Concurs with sib. .... and that NPL spike is worrisome

4 in 3 years cant be about work ethic...

[quote=the deal]Huuh look at my projections for Member for Q1 2013 here...right to the dot...even insider cant beat this http://www.contrarianinv...a-s-top-2-banks-succeed[/quote]
^ Quite close. Umejaribu sana.. But lots of room for improvement on the art of being humble

I think this bank is really in trouble if the economy does not rev up....Non Performing loans are piling up while the bank has reduced its loans loss provision.That to me is funny accounting....

Another thing I find disturbing is how they have managed to reduce staff cost while at the same time growing their footprint .... when you consider the hiring of top executives last year In what was believed to be a change in strategy you can only conclude either the staff are being paid poorly or on a negative side there was staff retrenchment which therefore means the bank is about to hit a plateau in terms of growth they are making everything possible to register a growth so as to please the investors.