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Financial Statements- Investment Banks/Stock Brokers
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reithi
#1 Posted : Wednesday, March 31, 2010 8:45:29 AM
Rank: Member


Joined: 1/12/2007
Posts: 75
The CMA deadline to publish financial statements is here and the usual Kenyan last minute culture is evident in today's Daily Nation.

However, the devil is in the details which show that most struggled in 2009 in tandem with the market. The revenues have dropped sharply compared to 2008 and balance sheets look shaky going forward should the trend continue. Some negative revenue reserves, indicate some were posting losses well before 2008.

This is a good starting point for making informed decisions on selecting an investment bank/broker.
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Scubidu
#2 Posted : Wednesday, March 31, 2010 10:51:11 AM
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Joined: 9/4/2009
Posts: 700
Location: Nairobi
I like to look at employee costs and directors fees when it comes to investment banks as well as normal banks. I remember Apex paid their directors heavily last year, but this year...and EIB has some seriously high employee costs.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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Scubidu
#3 Posted : Wednesday, March 31, 2010 11:04:58 AM
Rank: Veteran


Joined: 9/4/2009
Posts: 700
Location: Nairobi
jus bin looking at the stats from some of our listed commercial banks. Wanted to compare directors emoluments, staggering variances for 2009.

SCBK 107 million
KCB 104 million
NIC 91 million
COOP 76 million
DTBK 51 million
NBK 50 million
EQTY 43 million
HFCK 32 million
BBK 9 million

How can SCBK and KCB spend over 100 million on directors fees, but Barclays spends a measly 9 million? Even I&M and Family published today and they were no more than 20 million. Just what's in those directors emoluments?
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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VituVingiSana
#4 Posted : Wednesday, March 31, 2010 11:46:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
BBK might be misleading... I have not looked at the accounts but Adan & top management might be paid under contract through BB PLC...

BB PLC might charge BBK a fee & then pays Adan & Co... I think Adan makes $1mn or so...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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