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BBK FY 2013 results profit down 14%
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madebe
#1 Posted : Thursday, February 06, 2014 9:03:43 AM
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Joined: 10/7/2010
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Location: nairobi
Ziko?
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 Report Abusive | Report SPAM | Edit by moderator: Thursday, February 06, 2014 3:26 PM | Reason: title clarified
Horton
#2 Posted : Thursday, February 06, 2014 9:31:22 AM
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Aguytrying
#3 Posted : Thursday, February 06, 2014 9:38:43 AM
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You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad
The investor's chief problem - and even his worst enemy - is likely to be himself
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hisah
#4 Posted : Thursday, February 06, 2014 9:55:46 AM
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Joined: 8/4/2010
Posts: 8,977
Aguytrying wrote:
You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad

I'm bearish banks this year except laggard NBK and CFC. And just like 2010, I expect those that announce super results to be sold... Member and KCB have already hinted at the coming sell side show.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mwekez@ji
#5 Posted : Thursday, February 06, 2014 10:29:23 AM
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Joined: 5/31/2011
Posts: 5,121
hisah wrote:
Aguytrying wrote:
You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad

I'm bearish banks this year except laggard NBK and CFC. And just like 2010, I expect those that announce super results to be sold... Member and KCB have already hinted at the coming sell side show.

Any performance of +17% will be good. Those two, NBK and CFC, will impress smile
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2012
#6 Posted : Thursday, February 06, 2014 10:37:49 AM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.

BBI will solve it :)
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jerry
#7 Posted : Thursday, February 06, 2014 10:44:01 AM
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Joined: 9/29/2006
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Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%

Does 70cts include 20cts interim dvdd?
The opposite of courage is not cowardice, it's conformity.
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jerry
#8 Posted : Thursday, February 06, 2014 10:50:16 AM
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Aguytrying wrote:
You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad

"Announced a final dividend of Kes.0.70 on 12-February-2013. Books closure 13-March-2013. Payment 30-May-2013." Just being consistent!!!
The opposite of courage is not cowardice, it's conformity.
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Jamani
#9 Posted : Thursday, February 06, 2014 12:50:36 PM
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Joined: 9/12/2006
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jerry wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%

Does 70cts include 20cts interim dvdd?


Barclays will pay a final dividend of Sh0.50 a share to add to the Sh0.20 interim dividend pay to bring total pay-out to Sh0.70.
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streetwise
#10 Posted : Thursday, February 06, 2014 1:22:19 PM
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Is payment date 30 March 2013 or 2014
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Mastermind
#11 Posted : Thursday, February 06, 2014 2:24:32 PM
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Joined: 1/25/2012
Posts: 1,624
Location: Langley
2012 wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.

Theres one-off
restructuring cost of Sh 788M.
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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mibbz
#12 Posted : Thursday, February 06, 2014 2:26:21 PM
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Joined: 2/18/2011
Posts: 448
2012 wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.



There was an article in BD a few weeks ago that Barclays was reaching its lending limits due to its minuscule core capital viz its customer appetite for borrowing
All in all since the share split almost 5 years ago,it has struggled to go past ksh 18.If i remember well i exited at ksh 13.5 some years ago just after the split.
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hisah
#13 Posted : Thursday, February 06, 2014 3:17:14 PM
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Joined: 8/4/2010
Posts: 8,977
2012 wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.

BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!!

How many times are they restructuring... Shame on you Liar
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#14 Posted : Thursday, February 06, 2014 3:49:58 PM
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Joined: 2/26/2012
Posts: 15,980
jerry wrote:
Aguytrying wrote:
You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad

"Announced a final dividend of Kes.0.70 on 12-February-2013. Books closure 13-March-2013. Payment 30-May-2013." Just being consistent!!!


d'oh!
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Mastermind
#15 Posted : Thursday, February 06, 2014 3:56:22 PM
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Joined: 1/25/2012
Posts: 1,624
Location: Langley
murchr wrote:
jerry wrote:
Aguytrying wrote:
You wonder what the hurry was to release. Unless of course....these are some of the good results.Sad Sad

"Announced a final dividend of Kes.0.70 on 12-February-2013. Books closure 13-March-2013. Payment 30-May-2013." Just being consistent!!!


d'oh!

Murchr, you ignored the last statement.
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Mastermind
#16 Posted : Sunday, February 09, 2014 7:58:17 PM
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Joined: 1/25/2012
Posts: 1,624
Location: Langley
hisah wrote:
2012 wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.

BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!!

How many times are they restructuring... Shame on you Liar

Barclays Bank of Kenya has ended a
three-year staff restructuring plan
that has seen it shed nearly 500
jobs.
www.businessdailyafrica....88/-/mp6goq/-/index.html
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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mkeiy
#17 Posted : Monday, February 10, 2014 9:30:40 AM
Rank: Member


Joined: 1/27/2012
Posts: 851
Location: Nairobi
Mastermind wrote:
hisah wrote:
2012 wrote:
Horton wrote:
http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932
Down 14%


I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock.

BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!!

How many times are they restructuring... Shame on you Liar

Barclays Bank of Kenya has ended a
three-year staff restructuring plan
that has seen it shed nearly 500
jobs.
www.businessdailyafrica....88/-/mp6goq/-/index.html


KCB Group also shed 120 jobs at a cost of Sh1.2 billion as the lender closes a three-year restructuring plan aimed at reducing its wage bill.

An average of 10mn per employee!
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Cde Monomotapa
#18 Posted : Tuesday, February 11, 2014 8:31:55 PM
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Joined: 1/13/2011
Posts: 5,964
Meanwhile at BB-Zim...

Barclays posts $3m PAT on increased lending, +42%

HARARE, February 11 (The Source) – Barclays Bank of Zimbabwe has reported an after tax profit of $3 million for the full year to December 31 2013 compared to $2,1 million recorded in prior year driven by growth in net interest income.

Net interest income was up 61 percent to $12,3 million as gross loans and advances to customers increased by 26 percent to $117,7 million...
- See more at: http://source.co.zw/2014...ng/#sthash.OsHaL8D2.dpuf
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