They only expect profits to rise 20% http://mobile.reuters.co...4Q14D20110527?edition=af

Am told they have retrenched a big group of fellas today. Maybe this will push it to 25%. Less staff costs.

I finally made it but as it was ending this is what I got.

1.There is no intention of floating any rights anytime soon.They gave a weired explanation as to why they were adding the shares,They said they just wanted the shares available so that when they wanted to increase capital there will be no need of passing the resolution since it would've been passed already.

2.Cooperative bank of South sudan will be in business this year the share holding will be COOP BANK KENYA 70% Government of Southern Sudan 30%.

3.The management is in talks with other EAC member states in starting a corperative movement in those states.plans are in advanced stage to open a coperative bank in Uganda.

4.The management promised to achieve 7 billion in profit in this FY.

I missed alot since I arrived abt 20minutes b4 the end of the AGM .

Am proud of this Kingdom Bank.All its subsidiaries were profitable including kingdom securities.

@BurningS

The MD or the chairman I cant recall said the non-issued shares will act as a contingency in case the bank requires more capital in future.

I think the management will be using the No. of shares as bragging rights since it has the most shares in the banking industry.I cant find a reason why they would pass a resolution which will will affect the bank in several yrs to come.

i pray that happens, it will be my way in!!!!!!!!!

@Aguytrying, you may end up being caught in a share with very little ambitions (they are expecting only 20% growth in income in 2011) and with a very poor dividend payment policy (they gave 40 cents in a year that they performed well). Besides, if they will issue right, they must be at a good discount for the Mr. Market to accept them. IMHO, its better to wait for the financing info

The dividend payout ratio was actually 31% not 40%. However, one should note that this was a 100% increase in the 2009 FY dividend, a BIG IMPROVEMENT.

The other thing to note is that Coop is growing deposits and their loan book at a much faster rate than most other banks. As a consequence, it would not be prudent for them to pay a high dividend as this may impact on their capital adequacy ratios.

One should remember that their IPO in 2008 did not raise all the money they had targeted. They then made the decision to retain more of their profits than they might otherwise have done.

I thought someone ^^ clearly stated there will be no rights issue. 20% is a good growth rate estimate and it is sustainable. You cant grow at 70% year in year out. It will lead to a steady rise of profits over time. instead of wild fluctuations.

Does Gideon expect 2H to be that bad?
I mean going from 57% in Q1 to 20% in Full Year!

Guess i amnt the only one noticing...let the weak hands sell...i wish i had money to spare . i would push this price to 14.00 and down.