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Co-op Bank Q3 profit up 25.2%
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Ericsson
#1 Posted : Thursday, November 17, 2016 11:24:39 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Profit Before Tax in Q3 2016 is at Kes 15.2 billion compared to Kes 12.2 billion in Q3 2015
-75% growth in MCo-op cash transaction & 130% growth in MCoop cash loan customers
-strong balance sheet and P&L growth of 6.4% & 25.2% respectively
-Number of account holders grew by 7.0% YoY, shareholder funds grew by 19.5% YoY
-Government securities grew by 57.1% YoY, Total depositis grew by 1.2% YoY
-Loan book (Net) grew by 6.9% YoY
-The S.Sudan subsidiary made a PBT of Kes 45.12 million in Q3 2016 despite the difficult economic environment in the country
-Coop Bank South Sudan owns 31% of CIC Africa Ltd- South Sudan
-currently operating 4 branches in Juba & 5 non-oil collection centers
-The collection rate for non performing loans (90+) has grown by 72% from Q1 to Q3
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#2 Posted : Thursday, November 17, 2016 11:33:13 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Q3 profit before tax up 25% to Sh15.2bn driven by restructuring to cut costs;
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Angelica _ann
#3 Posted : Thursday, November 17, 2016 11:37:41 AM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Ericsson wrote:
Q3 profit before tax up 25% to Sh15.2bn driven by restructuring to cut costs;

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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Realtreaty
#4 Posted : Thursday, November 17, 2016 11:37:58 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,387
Ericsson wrote:
Profit Before Tax in Q3 2016 is at Kes 15.2 billion compared to Kes 12.2 billion in Q3 2015
-75% growth in MCo-op cash transaction & 130% growth in MCoop cash loan customers
-strong balance sheet and P&L growth of 6.4% & 25.2% respectively
-Number of account holders grew by 7.0% YoY, shareholder funds grew by 19.5% YoY
-Government securities grew by 57.1% YoY, Total depositis grew by 1.2% YoY
-Loan book (Net) grew by 6.9% YoY
-The S.Sudan subsidiary made a PBT of Kes 45.12 million in Q3 2016 despite the difficult economic environment in the country
-Coop Bank South Sudan owns 31% of CIC Africa Ltd- South Sudan
-currently operating 4 branches in Juba & 5 non-oil collection centers
-The collection rate for non performing loans (90+) has grown by 72% from Q1 to Q3



Good news and for that is good food to my heart.
On the other side Stndard chartered should be avoided by Kenyans for taking their jobs to India. We want local services so that we invest locally.
These Colonial banks will be sold and they have to undergo metamorphosis as they have aged out.
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guru267
#5 Posted : Thursday, November 17, 2016 3:28:54 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Realtreaty wrote:
Ericsson wrote:
Profit Before Tax in Q3 2016 is at Kes 15.2 billion compared to Kes 12.2 billion in Q3 2015
-75% growth in MCo-op cash transaction & 130% growth in MCoop cash loan customers
-strong balance sheet and P&L growth of 6.4% & 25.2% respectively
-Number of account holders grew by 7.0% YoY, shareholder funds grew by 19.5% YoY
-Government securities grew by 57.1% YoY, Total depositis grew by 1.2% YoY
-Loan book (Net) grew by 6.9% YoY
-The S.Sudan subsidiary made a PBT of Kes 45.12 million in Q3 2016 despite the difficult economic environment in the country
-Coop Bank South Sudan owns 31% of CIC Africa Ltd- South Sudan
-currently operating 4 branches in Juba & 5 non-oil collection centers
-The collection rate for non performing loans (90+) has grown by 72% from Q1 to Q3



Good news and for that is good food to my heart.
On the other side Stndard chartered should be avoided by Kenyans for taking their jobs to India. We want local services so that we invest locally.
These Colonial banks will be sold and they have to undergo metamorphosis as they have aged out.


So you cap interest rates and then cry when the company moves to cut costs? Shame on you
Mark 12:29
Deuteronomy 4:16
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Wakanyugi
#6 Posted : Thursday, November 17, 2016 3:53:59 PM
Rank: Veteran

Joined: 7/3/2007
Posts: 1,635
Angelica _ann wrote:
Ericsson wrote:
Q3 profit before tax up 25% to Sh15.2bn driven by restructuring to cut costs;



And what is wrong with that? You can grow in either of three ways: increasing you income; decreasing your outgo or growing your market (or all 3). Any of them is perfectly acceptable, no?
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
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guru267
#7 Posted : Thursday, November 17, 2016 4:07:55 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Wakanyugi wrote:
Angelica _ann wrote:
Ericsson wrote:
Q3 profit before tax up 25% to Sh15.2bn driven by restructuring to cut costs;



And what is wrong with that? You can grow in either of three ways: increasing you income; decreasing your outgo or growing your market (or all 3). Any of them is perfectly acceptable, no?


All are acceptable but not all are sustainable.
Mark 12:29
Deuteronomy 4:16
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enyands
#8 Posted : Thursday, November 17, 2016 7:56:28 PM
Rank: Elder

Joined: 12/25/2014
Posts: 2,301
Location: kenya
guru267 wrote:
Wakanyugi wrote:
Angelica _ann wrote:
Ericsson wrote:
Q3 profit before tax up 25% to Sh15.2bn driven by restructuring to cut costs;



And what is wrong with that? You can grow in either of three ways: increasing you income; decreasing your outgo or growing your market (or all 3). Any of them is perfectly acceptable, no?


All are acceptable but not all are sustainable.


Every quarter is all about cost cuttings
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Ericsson
#9 Posted : Thursday, November 17, 2016 10:08:07 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,808
Location: NAIROBI
Cooperative bank to focus on government securities, forex and corporate banking to grow.
Corporate banking has a loan portfolio of sh.96bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#10 Posted : Friday, November 18, 2016 4:52:35 AM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
Cooperative bank to focus on government securities, forex and corporate banking to grow.
Corporate banking has a loan portfolio of sh.96bn


Everyone is running away from Wanjiku since law capping interest came into effect.
Towards the goal of financial freedom
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