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Equity Group FY 2015 profit before tax up 7%
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mlennyma
#31 Posted : Tuesday, March 08, 2016 3:05:43 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
MaichBlack wrote:
mlennyma wrote:
MaichBlack wrote:
An almost 6 Billion hit from South Sudan!!!

Hiyo Sudan!!!!

KCB - 6 Billion.

CFC - 7 Billion.

......

And counting....

So far its clear that entering s sudan for all banks was disastrous and wrong timed but may be in future they will recoup their investments,

The was only one problem - forex losses due to a huge currency devaluation!!!

are you not factoring the loss of business due to the political unrest?
"Don't let the fear of losing be greater than the excitement of winning."
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Ericsson
#32 Posted : Tuesday, March 08, 2016 3:06:49 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Aguytrying
#33 Posted : Tuesday, March 08, 2016 3:22:58 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown


Link? Wise move if true
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ericsson
#34 Posted : Tuesday, March 08, 2016 3:27:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
It was on the twitter handle for the full year 2015 results
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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watesh
#35 Posted : Tuesday, March 08, 2016 3:30:55 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant
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hisah
#36 Posted : Tuesday, March 08, 2016 3:35:10 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
I remain short the banks!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr
#37 Posted : Tuesday, March 08, 2016 3:38:06 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Nothing on Equitel's impact

@hisah what's your view?
"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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Ericsson
#38 Posted : Tuesday, March 08, 2016 3:58:57 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
'Since the South Sudan Currency devaluation started, we adopted an exit strategy' Says Equity Bank CEO J Mwangi
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#39 Posted : Tuesday, March 08, 2016 4:20:04 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
watesh wrote:
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant

ask cfc the risk of relying on that kind of business without sustainable retail business
"Don't let the fear of losing be greater than the excitement of winning."
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Fetero
#40 Posted : Tuesday, March 08, 2016 4:26:52 PM
Rank: New-farer

Joined: 1/21/2015
Posts: 31
mlennyma wrote:
watesh wrote:
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant

ask cfc the risk of relying on that kind of business without sustainable retail business

cfc have a story to tell to future generations of upcoming banks.Laughing out loudly Shame on you Shame on you
Ask & it'll be given to you,seek & you shall find..Mathew:7:7
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watesh
#41 Posted : Tuesday, March 08, 2016 4:37:00 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
mlennyma wrote:
watesh wrote:
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant

ask cfc the risk of relying on that kind of business without sustainable retail business

Even with currency devaluation and conflicy SS still makes more profit than Uganda and Rwanda subsidiaries. So i say run the business as long as its profitable
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Fetero
#42 Posted : Tuesday, March 08, 2016 4:51:37 PM
Rank: New-farer

Joined: 1/21/2015
Posts: 31
watesh wrote:
mlennyma wrote:
watesh wrote:
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant

ask cfc the risk of relying on that kind of business without sustainable retail business

Even with currency devaluation and conflicy SS still makes more profit than Uganda and Rwanda subsidiaries. So i say run the business as long as its profitable

But it is no longer profitable as long as conflict escalation is on. KCB closed two branches in SS. from 22 to now 20. You can always retreat to help you live to fight again.
Ask & it'll be given to you,seek & you shall find..Mathew:7:7
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madebe
#43 Posted : Tuesday, March 08, 2016 4:52:35 PM
Rank: Member

Joined: 10/7/2010
Posts: 251
Location: nairobi
WHO HAS THE PRESENTATION AND THE FULL REPORT.please share
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mlennyma
#44 Posted : Tuesday, March 08, 2016 4:58:06 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Realtreaty wrote:
madebe wrote:
where can i get the presentation?

Wewe Madebe nawewe, si uende Equitybank kenya site and read?

smile
"Don't let the fear of losing be greater than the excitement of winning."
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watesh
#45 Posted : Tuesday, March 08, 2016 5:04:48 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Fetero wrote:
watesh wrote:
mlennyma wrote:
watesh wrote:
Ericsson wrote:
Equity Bank has put South Sudan subsidiary in exit position meaning the subsidiary is on the verge of shutdown

CEO said no exit plans. They are now bagging a huge deal with UN and other NGOs to handle all the funds they send. Plus they handle embassy funds...retail banking though isnt vibrant

ask cfc the risk of relying on that kind of business without sustainable retail business

Even with currency devaluation and conflicy SS still makes more profit than Uganda and Rwanda subsidiaries. So i say run the business as long as its profitable

But it is no longer profitable as long as conflict escalation is on. KCB closed two branches in SS. from 22 to now 20. You can always retreat to help you live to fight again.

Look at the balance sheet 0.4bn ksh is coming from SS in terms of profit, THAT IS MONEY, not just mere numbers. Thats profitable than many companies here in kenya. The problem last year with SS is currency devaluation due to lack of dollars in the market. Oil production had been reduced by more than 50%, Then prices sank and they were giving out 80%-90% of the revenue to Sudan for transport. Govt was busy using money to buy weapons and pay soldiers.
So far negotiations with Sudan about the reduction of $25 per barrel charge has started, more oil fields are back into production and oil prices are back at $40.
So its not yet time to close shop yet
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