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KCB 2018 and Beyond
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the deal
#91 Posted : Wednesday, November 14, 2018 7:57:16 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Profits boosted by huge reduction in loan loss provisions... If you look at the core metrics... They're struggling!
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Ericsson
#92 Posted : Wednesday, November 14, 2018 8:19:07 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
the deal wrote:
Profits boosted by huge reduction in loan loss provisions... If you look at the core metrics... They're struggling!


Kcb normally picks speed and momentum when most government payment to suppliers and contractors is done.
Equity did their calculations wrongly by piling money in government Securities and denying individuals and companies loans basing their reason on interest rates cap law
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Gadaffi
#93 Posted : Wednesday, November 14, 2018 8:26:45 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson

What comprises 'Other Income'. That's a significant figure.
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mlennyma
#94 Posted : Wednesday, November 14, 2018 8:28:05 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Ericsson wrote:
the deal wrote:
Profits boosted by huge reduction in loan loss provisions... If you look at the core metrics... They're struggling!


Kcb normally picks speed and momentum when most government payment to suppliers and contractors is done.
Equity did their calculations wrongly by piling money in government Securities and denying individuals and companies loans basing their reason on interest rates cap law

Rate cap didn't affect tier 1 so the shedding of share value was more euphoric than factual,i expect the prices to re visit where they were kitu 65 in a year's time
"Don't let the fear of losing be greater than the excitement of winning."
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  | | Edit by user: Wednesday, November 14, 2018 8:33 PM | Reason: Not specified
obiero
#95 Posted : Wednesday, November 14, 2018 8:28:15 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,216
Location: nairobi
Ericsson wrote:
the deal wrote:
Profits boosted by huge reduction in loan loss provisions... If you look at the core metrics... They're struggling!


Kcb normally picks speed and momentum when most government payment to suppliers and contractors is done.
Equity did their calculations wrongly by piling money in government Securities and denying individuals and companies loans basing their reason on interest rates cap law

That increase in deposit doesn't seem like any form of struggle. Assets too headed to 0.7trillion Kenya Shillings. CIR below 50% for the first time since the year 1896

KQ ABP 4.26
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obiero
#96 Posted : Wednesday, November 14, 2018 8:30:42 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,216
Location: nairobi
Gadaffi wrote:
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson

What comprises 'Other Income'. That's a significant figure.


Other income refers to income other than that listed on the other income Iines.. Usikasirike with the repetition

KQ ABP 4.26
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Gadaffi
#97 Posted : Wednesday, November 14, 2018 8:52:09 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
obiero wrote:
Gadaffi wrote:
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson

What comprises 'Other Income'. That's a significant figure.


Other income refers to income other than that listed on the other income Iines.. Usikasirike with the repetition

Thanks. This line has a 24% growth with income of 3.3 billion. Considering that the main lines are already indicated, what can be a contributor to this income..
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obiero
#98 Posted : Wednesday, November 14, 2018 9:16:23 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,216
Location: nairobi
Gadaffi wrote:
obiero wrote:
Gadaffi wrote:
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson

What comprises 'Other Income'. That's a significant figure.


Other income refers to income other than that listed on the other income Iines.. Usikasirike with the repetition

Thanks. This line has a 24% growth with income of 3.3 billion. Considering that the main lines are already indicated, what can be a contributor to this income..

Insurance, brokerage, custodial service, investment income from treasury dealing

KQ ABP 4.26
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  | | Edit by user: Wednesday, November 14, 2018 9:21 PM | Reason: Not specified
obiero
#99 Posted : Wednesday, November 14, 2018 9:25:06 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,216
Location: nairobi
Muthawamunene wrote:
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson



Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision.

If one was to compare with equity, it would have to be done on the basis of interest income and not profit.


Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future.

IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions

KQ ABP 4.26
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Horton
#100 Posted : Wednesday, November 14, 2018 9:41:28 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
obiero wrote:
Muthawamunene wrote:
obiero wrote:
Ericsson wrote:
KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year

The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.

Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year

Great news @ericsson



Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision.

If one was to compare with equity, it would have to be done on the basis of interest income and not profit.


Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future.

IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions


Apples to apples KCB LLP in H1 = 18.2B
Equity= 5.9B


I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers.

Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price.

Simba is going strong! Solid numbers these are
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  | | Edit by user: Wednesday, November 14, 2018 9:42 PM | Reason: Not specified
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