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KCB HY 2018
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Ericsson
#1 Posted : Thursday, August 16, 2018 8:18:39 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Loan book expanded 4% to ksh.421.5bn from 406.9bn
Group assets up 6% to ksh.668bn
Investment in government Securities down 4% to ksh.113bn
Deposits jump 9% from ksh.482.9bn to 525bn
Non performing loans ratio improved by 130 basis points from March 2018 to settle at 8.5% as at June 2018
Group profit before tax surges 16% to ksh.17.1bn from 14.8bn in HY2017
Profit after tax surges 18% to KSH.12.1bn from 10.3bn in HY2017
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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watesh
#2 Posted : Thursday, August 16, 2018 8:23:46 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 969
Location: Kenya
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income
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Ericsson
#3 Posted : Thursday, August 16, 2018 8:31:30 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Subsidiaries have shown tremendous improvement-25% growth in PBT
--South sudan 68% drop to ksh.100mn from 317 in HY2017
--KCB burundi 203% growth to ksh.100mn from 33mn
--KCB Bank Uganda 164% growth to ksh.283mn from 107mn
--KCB bank Rwanda 25% growth to ksh.310mn from 247mn
--KCB Bank Tanzania 64% growth to ksh.371mn from 226mn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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young
#4 Posted : Thursday, August 16, 2018 8:32:57 AM
Rank: Elder


Joined: 6/20/2007
Posts: 2,037
Location: Lagos, Nigeria
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income


How much is the interim div ?
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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maka
#5 Posted : Thursday, August 16, 2018 8:33:36 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
young wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income


How much is the interim div ?


1 Bob...
possunt quia posse videntur
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Ericsson
#6 Posted : Thursday, August 16, 2018 8:34:02 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

Operating expenses declined 7% to ksh.18.5bn from 19.9bn attributable to improved staff costs and loan loss provisioning
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#7 Posted : Thursday, August 16, 2018 8:36:05 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
maka wrote:
young wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income


How much is the interim div ?


1 Bob...


To shareholders registered at the close of business on Monday 3 September 2018.
The dividend will be paid on or about Friday 30 November 2018
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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lochaz-index
#8 Posted : Thursday, August 16, 2018 10:00:36 AM
Rank: Veteran


Joined: 9/18/2014
Posts: 1,127
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.
The main purpose of the stock market is to make fools of as many people as possible.
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Superprime1
#9 Posted : Thursday, August 16, 2018 10:16:09 AM
Rank: Member


Joined: 5/2/2018
Posts: 267
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

Also, there's a Sh545m (Sh0.55bn) deferred tax down there.
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sparkly
#10 Posted : Thursday, August 16, 2018 11:03:29 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
lochaz-index wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.


Since rate caps banks have been putting more of their deposits into government securities hence fewer riskier loans and lower loan provisions
Life is short. Live passionately.
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mlennyma
#11 Posted : Thursday, August 16, 2018 8:35:35 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
Ericsson wrote:
Loan book expanded 4% to ksh.421.5bn from 406.9bn
Group assets up 6% to ksh.668bn
Investment in government Securities down 4% to ksh.113bn
Deposits jump 9% from ksh.482.9bn to 525bn
Non performing loans ratio improved by 130 basis points from March 2018 to settle at 8.5% as at June 2018
Group profit before tax surges 16% to ksh.17.1bn from 14.8bn in HY2017
Profit after tax surges 18% to KSH.12.1bn from 10.3bn in HY2017

Equity shown dust
"Don't let the fear of losing be greater than the excitement of winning."
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Realtreaty
#12 Posted : Thursday, August 16, 2018 9:39:24 PM
Rank: Elder


Joined: 8/16/2011
Posts: 2,297
young wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income


How much is the interim div ?



Laughing out loudlyLaughing out loudly Laughing out loudly Laughing out loudly Generation "Young" more interested on what will be in their pocketApplause Applause Applause Applause
Other things are stories
I hope the Old Alma can read this.
By the way if what is coming to your pocket is good, all other things are positive.
Next......?
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lochaz-index
#13 Posted : Thursday, August 16, 2018 10:09:48 PM
Rank: Veteran


Joined: 9/18/2014
Posts: 1,127
sparkly wrote:
lochaz-index wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.


Since rate caps banks have been putting more of their deposits into government securities hence fewer riskier loans and lower loan provisions

That holds water for the new loan book but what of the old one? Is it deteriorating, constant or improving vis a vis the macros? Less NPLs and LLPs suggests an overall improvement in loan book quality, is that really the case? How many banks actually took the hard road of early and heavy write offs to warrant the reductions now?

Secondly, does that take into consideration the provisions of IFRS like providing for expected credit loss vs the old model of only providing for actual defaults and provisions for lending to govt and state owned enterprises?
The main purpose of the stock market is to make fools of as many people as possible.
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Obi 1 Kanobi
#14 Posted : Friday, August 17, 2018 10:27:09 AM
Rank: Elder


Joined: 7/23/2008
Posts: 3,017
lochaz-index wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.


Main reason is an improved overall credit rating for most of their new customers, one of the benefits of the interest rate cap is that banks have reduced the risky loans that they used to price at 18-23%.

They now carry out a more thorough risk assessment and focus on ability to pay over collateral when evaluating loan applicants.

But they will never tell us this as they prefer to push for the removal of the rate cap so they can squeeze the small person even more
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Ebenyo
#15 Posted : Friday, August 17, 2018 5:22:26 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.
Towards the goal of financial freedom
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Ericsson
#16 Posted : Saturday, August 18, 2018 4:14:57 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#17 Posted : Saturday, August 18, 2018 3:21:43 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
KCB to complete takeover of Imperial bank end of next month

https://www.businessdail...16500-qv6d6tz/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#18 Posted : Saturday, August 18, 2018 6:28:48 PM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.
Towards the goal of financial freedom
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Horton
#19 Posted : Sunday, August 19, 2018 10:21:37 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ebenyo wrote:
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.


When/if rate caps are removed this should be an 90/- stock. Otherwise even at a 10 PE it should be worth 70/- look at the other banks, the are all trading at the 9-10 PE mark.
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mlennyma
#20 Posted : Sunday, August 19, 2018 4:24:05 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,183
Location: nairobi
Horton wrote:
Ebenyo wrote:
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.


When/if rate caps are removed this should be an 90/- stock. Otherwise even at a 10 PE it should be worth 70/- look at the other banks, the are all trading at the 9-10 PE mark.

rate cap was to be kicked out by September
"Don't let the fear of losing be greater than the excitement of winning."
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