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CoopBank H1 PAT up 17%
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mwanahisa
#1 Posted : Wednesday, August 07, 2013 9:49:59 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
Co-operative Bank 1H13 results summary
PAT was up 17.17 percent yoy to KES 4.71 billion from KES 4.02 billion. Total interest income and loan and advances fell 10.68 percent and 15.57 percent respectively. Total interest expenses dropped by 48.11 percent from KES 5.55 billion to KES 2.88 billion resulting in net interest income growth of 19.04 percent from KES 7.44 billion to KES 8.86 billion. EPS is at KES 1.12 up from KES 0.96.

No dividend.
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ngapat
#2 Posted : Wednesday, August 07, 2013 10:03:48 AM
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Joined: 12/11/2006
Posts: 884
underwhelming
“Invest in yourself. Your career is the engine of your wealth.”
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stocksmaster
#3 Posted : Wednesday, August 07, 2013 10:21:02 AM
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Joined: 9/26/2006
Posts: 410
Location: CENTRAL PROVINCE
ngapat wrote:
underwhelming


The era of 60-70% growth in profits is over. The new normal seems to be 15-20%.

Happy Hunting.
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ProverB
#4 Posted : Wednesday, August 07, 2013 10:32:26 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
stocksmaster wrote:
ngapat wrote:
underwhelming


The era of 60-70% growth in profits is over. The new normal seems to be 15-20%.

Happy Hunting.


Please note drop in loans advanced..and drop in interest income


Growth in PAT doesn't seem attributable to biz growth par se but largely to cut in costs..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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dunkang
#5 Posted : Wednesday, August 07, 2013 10:45:43 AM
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Joined: 6/2/2011
Posts: 4,818
Location: -1.2107, 36.8831
PBT nayo?
Receive with simplicity everything that happens to you.” ― Rashi

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FUNKY
#6 Posted : Wednesday, August 07, 2013 10:50:27 AM
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Joined: 4/30/2010
Posts: 1,635
Does anyone have the NPL figures?
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Cde Monomotapa
#7 Posted : Wednesday, August 07, 2013 10:50:30 AM
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Joined: 1/13/2011
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Interesting. (-48%)
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dunkang
#8 Posted : Wednesday, August 07, 2013 10:52:11 AM
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Location: -1.2107, 36.8831
Cde Monomotapa wrote:
Interesting. (-48%)

nini? PBT?
Receive with simplicity everything that happens to you.” ― Rashi

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Cde Monomotapa
#9 Posted : Wednesday, August 07, 2013 10:54:34 AM
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Joined: 1/13/2011
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dunkang wrote:
Cde Monomotapa wrote:
Interesting. (-48%)

nini? PBT?

Interest Expense smile
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mkeiyd
#10 Posted : Wednesday, August 07, 2013 10:59:43 AM
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Joined: 3/26/2012
Posts: 1,182
ProverB wrote:
stocksmaster wrote:
ngapat wrote:
underwhelming


The era of 60-70% growth in profits is over. The new normal seems to be 15-20%.

Happy Hunting.


Please note drop in loans advanced..and drop in interest income


Growth in PAT doesn't seem attributable to biz growth par se but largely to cut in costs..


@ProverB, How are you getting this coz i'm seeing a growth of about 12bn?
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mkeiyd
#11 Posted : Wednesday, August 07, 2013 11:01:41 AM
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Posts: 1,182
dunkang wrote:
PBT nayo?


PBT is around the same figure 17.50%.
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mwanahisa
#12 Posted : Wednesday, August 07, 2013 11:26:28 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
dunkang wrote:
PBT nayo?


PBT is 5.755B against 4.9B for the comparative period in 2012.

Gross NPLs are 6.8B against 6B last year.

Loan loss provision for the period is flat at 500M vis-a-vis 498M.

On a more positive note, the losses on fair value changes in AFS financial assets have been reversed from a loss of 978M in Q1 2013 to a gain of 884M at the end of Q2. Hence Comprehensive income has improved by a whopping 4 billion in the Qtr from 1.6B to 5.6B. Not BAD!!!!
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the deal
#13 Posted : Wednesday, August 07, 2013 11:30:08 AM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
...In line with expectations...I don't know where this herd mentality on this counter came from....there is a reason why some us where silent...
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timuka
#14 Posted : Wednesday, August 07, 2013 11:40:28 AM
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Joined: 1/21/2013
Posts: 427
stocksmaster wrote:
ngapat wrote:
underwhelming


The era of 60-70% growth in profits is over. The new normal seems to be 15-20%.

Happy Hunting.


HFCK seems to be the only remaining player in that 60-70% league
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Cde Monomotapa
#15 Posted : Wednesday, August 07, 2013 11:51:20 AM
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Joined: 1/13/2011
Posts: 5,964
mwanahisa wrote:

On a more positive note, the losses on fair value changes in AFS financial assets have been reversed from a loss of 978M in Q1 2013 to a gain of 884M at the end of Q2. Hence Comprehensive income has improved by a whopping 4 billion in the Qtr from 1.6B to 5.6B. Not BAD!!!!

KenyaRe (ZepRe) *hides*
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maka
#16 Posted : Wednesday, August 07, 2013 11:58:02 AM
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Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
the deal wrote:
...In line with expectations...I don't know where this herd mentality on this counter came from....there is a reason why some us where silent...

possunt quia posse videntur
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FUNKY
#17 Posted : Wednesday, August 07, 2013 12:29:18 PM
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Joined: 4/30/2010
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Ericsson
#18 Posted : Wednesday, August 07, 2013 1:00:52 PM
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Joined: 12/4/2009
Posts: 10,702
Location: NAIROBI
There was growth in the Loans and advances to customers and customer deposits.
Slowdown in profit growth was due to decline in interest in loans and advances due to the decline in interest rates.
This was offset by the huge drop in interest in customer deposits.
Momentum will be sustained if the bank increases the loan portfolio book.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mwekez@ji
#19 Posted : Wednesday, August 07, 2013 1:57:43 PM
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Joined: 5/31/2011
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mwekez@ji
#20 Posted : Wednesday, August 07, 2013 2:00:14 PM
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Joined: 5/31/2011
Posts: 5,121
maka wrote:
the deal wrote:
...In line with expectations...I don't know where this herd mentality on this counter came from....there is a reason why some us where silent...


Laughing out loudly Laughing out loudly Laughing out loudly #Better.Keep.On.Your.Silence
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