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National Bank Q3 2014 PAT up 16%

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Goldilocks Reloaded		#1 Posted : Friday, November 28, 2014 1:57:15 PM
Rank: Member Joined: 1/14/2014 Posts: 178		National Bank 3Q14 PAT up 16%y/y. National Bank has announced 3Q14 results recording a 16%y/y rise in PAT. NII was up 15.9%y/y (+7% q/q) with NIM coming in 20bp higher q/q to 8%. NIR jumped 41.4%y/y bolstered by a 158.7%y/y surge in fee income. Loans grew 83.2%y/y. Consequently, loan loss provision jumped 122%y/y. NPL ratio stood at 10.2% compared to 11.8% in same period last year. Trailing loan growth, deposits only grew 20.1%y/y bringing LTD ratio to 61% (40% similar period last year). Despite OPEX rising 15.6%y/y, CTI came in 463bp y/y lower to 71.7%. (Source, Standard Investment Bank) Some huge percentages in some of the ratios. Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it – Peter Lynch
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Gadaffi		#2 Posted : Friday, November 28, 2014 2:39:12 PM
Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi		The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground...
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TheGeek		#3 Posted : Friday, November 28, 2014 3:20:02 PM
Rank: Member Joined: 7/3/2014 Posts: 245		Gadaffi wrote: The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground... This thread might enlighten you National Bank - Rights Issue In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Goldilocks Reloaded		#4 Posted : Friday, November 28, 2014 5:25:01 PM
Rank: Member Joined: 1/14/2014 Posts: 178		TheGeek wrote: Gadaffi wrote: The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground... This thread might enlighten you National Bank - Rights Issue @TheGeek seems the RINK you sent is misdirecting... . Searched for an NBK forum i couldnt find so started one. The bank has many challenges but if they continue growing their assests like that and work on the NPLs etc, they are definitely on the right track. The rights issue however still remains the elephant in the house. Go for a business that any idiot can run – because sooner or later, any idiot is probably going to run it – Peter Lynch
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obiero		#5 Posted : Friday, November 28, 2014 8:13:53 PM
Rank: Elder Joined: 6/23/2009 Posts: 13,551 Location: nairobi		Gadaffi wrote: The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground... This simply means that the bank has gone back to the KANU days, giving out cash without knowing how it will be recovered = growth in assets, growth in NPLs HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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TheGeek		#6 Posted : Friday, November 28, 2014 9:19:22 PM
Rank: Member Joined: 7/3/2014 Posts: 245		Goldilocks Reloaded wrote: TheGeek wrote: Gadaffi wrote: The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground... This thread might enlighten you National Bank - Rights Issue @TheGeek seems the RINK you sent is misdirecting... . Searched for an NBK forum i couldnt find so started one. The bank has many challenges but if they continue growing their assests like that and work on the NPLs etc, they are definitely on the right track. The rights issue however still remains the elephant in the house. Rink In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Gadaffi		#7 Posted : Saturday, November 29, 2014 3:41:00 PM
Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi		TheGeek wrote: Goldilocks Reloaded wrote: TheGeek wrote: Gadaffi wrote: The asset bk is growing at a good rate bt th Liability book needs 2b sorted out fast ( what happened 2 th rights issue?). Npl rate looks lyk a concern. The stock looks attractive bt surpisingly losing ground... This thread might enlighten you National Bank - Rights Issue @TheGeek seems the RINK you sent is misdirecting... . Searched for an NBK forum i couldnt find so started one. The bank has many challenges but if they continue growing their assests like that and work on the NPLs etc, they are definitely on the right track. The rights issue however still remains the elephant in the house. Rink Yap, this one works
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