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KCBGroup reports H1 PBT 2013 +19%
Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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guru267 wrote:Jigga wrote:kripp wrote:I have always wondered why in this age of IT our banks require two months or more to release their financial results?
I believe that all financial institutions especially banks "reconcile" their affairs fully at the end of each busines day and for the external audit, the half-year exercise is only a limited review and not a full audit, an exercise than can be completed within a week.
So why are financial institutions in Kenya unable to release their results within 30 days of the reporting date?
Then the dividends (if you are lucky) are released a whole six months after the reporting date yet these are cash-rich enterprises!
Shareholders deserve better. IT savvyness doesn't really much influence release dates. I think its more of a business/board of directors prerogative and CMA rules. Some boards deliberately delay release when they either want to 'play' the market or heighten anxiety especially when expecting good result. There is a chance of marginal gains depending on how well they play the market. IMHO Its disgusting whenever I see directors playing the market! There is more room for peeps to be played.. possunt quia posse videntur
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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This banks loan book is starting to look like for a shylock...
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Rank: Elder Joined: 12/7/2012 Posts: 11,925
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the deal wrote:This banks loan book is starting to look like for a shylock... what do you mean, lay terms? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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the deal wrote:This banks loan book is starting to look like for a shylock... How now? NIM is 10.7% (Was 10.9% in Dec12)
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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mwekez@ji wrote:the deal wrote:This banks loan book is starting to look like for a shylock... How now? NIM is 10.7% (Was 10.9% in Dec12) Let the haters hate... @the deal If you don't have anything nice to say don't say anything at all! Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Some of these alleged contrarian bloggers, investors and analysts have either deep seated biases or are just slipping. Where is the KCB coverage? Even a mention of its summary performance on a tweet or FB is missing. By now, some of them would have show cased opportunities on their home bourses for us to consider but...  
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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ROAR. Lots of room for profit growth by improving efficiency and utilizing assets better. Life is short. Live passionately.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Elder Joined: 8/16/2011 Posts: 2,358
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Quite nauseating to wait 6 months after release of the results to get DVDs. What does CMA rule advocate? Or are they asleep? Kenol Kobil was one of the best party that used ti inform when they were to release their results and paid DVDs if any within immediately or within 30-35 days.
Safcom and Sameer are the worst. They bank our DVD and eat the interest!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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The Merchant wrote:dunkang wrote:hisah wrote:dunkang wrote:Jigga wrote:Quite impressive performance by the lion. waiting for the share to hit Ksh50!!
If this Syria issue lasts longer, the share prices might stagnate or tank. Or what do you think? Let the market tank so that quality stocks become cheaper for better buy entry prices (fat discounts) 
I welcome that too! Would you mind explaining why this Syria thing is affecting Kenyan bourse, since its truely affecting it? Just Why? Because in times of CRISIS such as this, investors flee to safe (read USD denominated) assets and exit riskier assets such as emerging markets, commodities and EM currencies. I am actually surprised that the Kenyan market has held up very well so far. @merchant - FDI is the saving grace for KE plus eurobond matters. Otherwise with that current account deficit with current geopolitical mood, KES would have gotten a proof shaving again.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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hisah wrote:The Merchant wrote:dunkang wrote:hisah wrote:dunkang wrote:Jigga wrote:Quite impressive performance by the lion. waiting for the share to hit Ksh50!!
If this Syria issue lasts longer, the share prices might stagnate or tank. Or what do you think? Let the market tank so that quality stocks become cheaper for better buy entry prices (fat discounts)
I welcome that too! Would you mind explaining why this Syria thing is affecting Kenyan bourse, since its truely affecting it? Just Why? Because in times of CRISIS such as this, investors flee to safe (read USD denominated) assets and exit riskier assets such as emerging markets, commodities and EM currencies. I am actually surprised that the Kenyan market has held up very well so far. @merchant - FDI is the saving grace for KE plus eurobond matters. Otherwise with that current account deficit with current geopolitical mood, KES would have gotten a proof shaving again. The beauty of buying undervalued stocks and not chasing clearly overvalued ones is that the investor doesnt fear minor corrections. He had either already sold the now over valued stock or doesnt mind buying more. so a correction is another stab at money making The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Just Sell & move on...this thing belongs where member is.
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Rank: Member Joined: 2/8/2007 Posts: 808
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Not very encouraging results. The air of smelling Lions hiccups. Bank didn't grow loan book in first half nor did it grow deposits.
They basically made money by paying less for deposits and underproviding, NPL book growing sharply but provisions dropping or is it recoveries that went up. What happens when rates rise up sharply?
Simba yuko na SHIDA!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Kausha wrote:Not very encouraging results. The air of smelling Lions hiccups. Bank didn't grow loan book in first half nor did it grow deposits.
They basically made money by paying less for deposits and underproviding, NPL book growing sharply but provisions dropping or is it recoveries that went up. What happens when rates rise up sharply?
Simba yuko na SHIDA!
We should also remember that GoK suspended paying large contractors pre-election. Now, as long as those contracts check out, it is basically a sovereign guaranteed recovery and yes, it will concern large balance sheet banks most. No much cause for alarm.
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Rank: Member Joined: 2/8/2007 Posts: 808
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We have had that excuse from all the banks! It started with Equity who rightly argued that with government expenditure constricted, SME's were finding it hard to either find work or pay back some of their loans. This was a general hypothesis which is untested. Most of the other banks have gone ahead and hijacked this statement and have all of us believing they struggled because because government is yet to spend. My thinking is that most businesses have gone cold on debt because of the unpredictable nature of loans while a lot of loans have entered the NPL book especially construction loans and has nothing to do with government spending but all to do with limited offtake of inventory. Even the large borrowers in the market Total/ kenol Kobil are refinancing commercial bank debt with prefs, equity and CP's.
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Kausha wrote:We have had that excuse from all the banks! It started with Equity who rightly argued that with government expenditure constricted, SME's were finding it hard to either find work or pay back some of their loans. This was a general hypothesis which is untested. Most of the other banks have gone ahead and hijacked this statement and have all of us believing they struggled because because government is yet to spend. My thinking is that most businesses have gone cold on debt because of the unpredictable nature of loans while a lot of loans have entered the NPL book especially construction loans and has nothing to do with government spending but all to do with limited offtake of inventory. Even the large borrowers in the market Total/ kenol Kobil are refinancing commercial bank debt with prefs, equity and CP's. That's also true, the backlash of the high interest rates regime on other sectors. Trying to see if this proposed Eurobond can ease pressure on the domestic money mkt rates as well. OTW, we'll have to embrace a 'new normal' with some causalities and that's biz.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Since when did anything go up in a straight line... Is it rational to expect 60% from memba yearly?? I remember the story last year from @young and @the deal was that none of the big banks would be able to repeat 2012 results! Apart from stan chart and Barclays all other banks have smashed 2012 results by double digits! But still we have nye nye nye!! Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 1/3/2007 Posts: 18,229 Location: Nairobi
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"...NPL ratio up to 8.3%% from 6.2%. NPL coverage ratio down to 52.7% from 63.8%..." When a bank does not provide for 100% of the NPLs... kuna shida! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,814 Location: nairobi
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@anyone. why is the share price sliding down?
COOP 255,000 ABP 15.85; IMH 5,000 ABP 35.55; KQ 684,200 ABP 6.72; MTN 23,800 ABP 5.20
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Rank: Elder Joined: 8/16/2011 Posts: 2,358
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Everyone is paying school fees and are selling their stocks at this bull run prices. Huna batoto wewe?
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KCBGroup reports H1 PBT 2013 +19%
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