[quote=Ericsson]National Bank of Kenya has today announced KShs 675 million in profit before tax and exceptional items for the period ending September 30, 2019, representing a 45% increase over a similar period in 2018.

NBK achieved this level of growth against the backdrop of a challenging environment, both externally & internally. Our main focus has been enhancing customer experience, preserving & optimizing value while effectively mitigating risks through proactive risk management.

Total expenses, however, increased by 4% year-on-year to KShs 5.4 billion, mainly driven by increased loan loss provisions. Operating expenses excluding loan provisions remained relatively flat at KShs 5.4 billion.

Operating income for the period stood at Sh6B, a 7% increase from Sh5.6B over the same period in the previous year. This was mainly due to growth in interest earned from loans & advances & other earning assets, coupled with continuing diversification of funding base.

https://twitter.com/National_Bank[/quote]



At least kcb group plc is sure that it bought a cow that is productive.

Next now is Ethiopia establishing a subsidiary/operation.
The country is opening up

A representative office was opened up in 2016! https://www.capitalfm.co...in-ethiopia-operations/[/quote]


Fair value should be at least 84/- here considering EPS is 7.83

"National Bank of Ethiopia (equivalent of our CBK) planned to increase the minimum capital for banks to operate to 2 billion Birr ($90 million) and instructed all commercial banks to increase their capital to that amount by 2020."

Kcb to release Q3 results this week

https://www.businessdail...7280-52ad69z/index.html

KCB Group will complete the compulsory buyout of dissenting minority shareholders of National Bank of Kenya (NBK) later this month.

Some NBK investors declined to subscribe to KCB’s share swap deal but will now be forced to become owners in the country’s biggest bank.
Without the compulsory buyout, the dissenting minority investors would have been left holding shares that could not trade on the NSE.

The country’s largest lender is set to inject new capital into NBK once it takes full ownership of the lender which will also be de-listed from the Nairobi Securities Exchange (NSE).

NBK’s core capital fell below the statutory minimum of Sh1 billion in the nine months ended September, adding to its historical breaches of various capital ratios.

The lender’s core capital stood at Sh993.7 million in the review period. Mr Kimathi said KCB is reviewing NBK’s capital requirements, taking into account various factors, including the rate of loan recoveries.

“NBK will be compliant in terms of capital by the end of the year,” Mr Kimathi said.

KCB estimated that NBK will need up to Sh7.5 billion in new capital but the amount is subject to change.

This will see KCB issue an additional 4.4 million shares worth about Sh200 million on top of the 142.9 million units it had allotted to the first group NBK shareholders who accepted its deal.

“We have issued the compulsory takeover notice to the minority NBK shareholders,” said Lawrence Kimathi, KCB’s chief finance officer.

“We are halfway through the 21-day notice period and the squeeze-out will be complete by the end of this month.”

KCB anticipates interest rates for high risk borrowers will rise by 2-3%.

Take this as PR until further notice. What else was the CEO supposed to say??

KCB group has retreated from an earlier plan of integrating National bank of Kenya into its operations.
NBK will continue to operate as a stand alone subsidiary of KCB.
Paul Russo the NBK managing director reckons that the shift in strategy has been informed by the fear of losing business attached to national bank.

https://www.businessdail...44826-ss9xoyz/index.html

It will touch 44 in Dec. Then Jan 2020 it will begin to rise to 60.