Why does NSE take eons to post the results on their website? So disheartening.

@Surealligator, that's why there's Wazua.

Kenya's NIC Bank's 2010 profit rises 71 pct
* To pay 1 bonus share for every 10 held
* Div unchanged at 0.50 shillings
* Net interest income rose 41 percent while total income increased by 36 percent to 5.268 billion

Bank's strength lay in asset financing (grew 25%), where it has a 35 percent share of the market.

All the bank's subsidiaries were profitable in 2010. In particular, the bank's maiden foreign acquisition NIC Bank Tanzania recorded a significant turnaround in performance.


http://www.reuters.com/article/...ic-idUSLDE71N01520110224

@Muganda

Thanks alot. Wazua for life. That is way if I stay away from Wazua for a week, I have to take some medication for withdrawal symptoms.

@Mkonomtupu

That is a good performance but my interest right now is the div. 0.5 is peanuts at a price of over 50 bob.

If I want bonus shares, I go to Centum. What was that story about Centum not being able to buy the 100 acre Kiambu land? Maybe a rumour.

Note:

A 30% increase in profits on 9 billion is 2.7 billion.

A 71% increase in profits on 1.5 billion is a billion.

It is easier to double small profits but large banks raking in ten billion may increase profits by a small margin but the amount in cash form is enormous. What's your take?

A bank making such a profit growth after an acquisition is a good Buy.

I have always admired this bank more so on how loyal its customers are,its quite something when your own customers defend you am saying this from experience.

The dividends are actually higher than last year. They gave a bonus last year and maintained the same dividend amount per share this year, in effect, the dividends have gone up by 10%.

Anyone got their EFT yet? Were the bonuses supposed to be credited today also?

This stock is like a ghost. It moves up & down but noone seems to notice it. The breakout past 50 was contained by the bonus and poor dividend. HOLD

One of my favorites, the pe is now 8.4 for a company which can grow earnings by 50% the market is really under valuing this stock. I am utilizing the proceeds from KPLC to stock up on this one.

What proceeds? You just sold (and I'd wonder why) or you got dividend?

Core business was always asset financing. National Industrial Credit was an asset financier until the ndegwa family took control then it changed to a 'bank'