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Coop Bank FY17
Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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Quote:Co-operative bank's profit marginally drops to Ksh. 11bnNAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016. Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016. Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered. Pesa Nane plans to be shilingi when he grows up.
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Pesa Nane wrote:Quote:Co-operative bank's profit marginally drops to Ksh. 11bnNAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016. Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016. Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered. Profit before tax at sh.16.4bn Group net interest income of sh.28.1bn versus 29.5bn in 2016 Dividend at sh.0.80 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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  Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Pesa Nane wrote:Quote:Co-operative bank's profit marginally drops to Ksh. 11bnNAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016. Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016. Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered. The joint venture idea with GOSS was good.In the long run it will pay well for co-op. Towards the goal of financial freedom
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Reactions show unsatisfied shareholders expectations "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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PERFECT
Given that we earned share bonuses last FY16 and now we get the same dividends i support the growth trajectory as the stock is very much undervalued given Coop bank is a bank of Kenya that is doing great.
I have no eyes to see any negative results and I support forward buying.
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Investment in government Securities increased from sh.57bn to 69bn. Interest income from them declined from sh.8.5bn to 8.2bn. Banks which had looked at government Securities as safe haven Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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https://www.businessdail...47066-7s6dic/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Dividend book closure is tomorrow May 4 2018. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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https://www.businessdail...54114-jpdklz/index.html
“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report. The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,107 Location: Nairobi
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Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html
“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017. Meanwhile Frank Ireri is making 64mn https://www.businessdail...550492-d4ehf6/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: New-farer Joined: 6/13/2016 Posts: 47 Location: kenya
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VituVingiSana wrote:[quote=Ericsson]https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html
“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017. Meanwhile Frank Ireri is making 64mn https://www.businessdail...50492-d4ehf6/index.html[/quote] Let me understand this. HFCK has borrowed 800 million at the maximum interest rates of 14%. And CEO gets paid 64 million. Where can I apply for this job? That means 8% of the loan is for 1 person's salary? How much are directors, senior managers e.t.c paid?
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Rank: Chief Joined: 1/3/2007 Posts: 18,107 Location: Nairobi
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mikanjoroge wrote:VituVingiSana wrote:Ericsson wrote:https://www.businessdailyafrica.com/corporate/companies/HF-borrows-Sh800m-from-NIC--Co-op-banks/4003102-4554114-jpdklz/index.html
“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017. Meanwhile Frank Ireri is making 64mn https://www.businessdail...50492-d4ehf6/index.html Let me understand this. HFCK has borrowed 800 million at the maximum interest rates of 14%. And CEO gets paid 64 million. Where can I apply for this job? That means 8% of the loan is for 1 person's salary? How much are directors, senior managers e.t.c paid? The compensation system is really screwed up! "At Sh64.4 million, his pay is equivalent to 51 per cent of HF’s net profit in the year ended December." And now back to Coop! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Co-op bank scoops three awards at Banker Africa awards. The bank was named Best SME bank Best Retail bank Best investment institution Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 8/16/2011 Posts: 2,297
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Ericsson wrote:Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution Reason I earlier mentioned that this stock price should be with its peers KCB, Equity or above. Let see it run towards 50!!!! 
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Realtreaty wrote:Ericsson wrote:Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution Reason I earlier mentioned that this stock price should be with its peers KCB, Equity or above. Let see it run towards 50!!!! Solid company.Doubled my investment in less than 5 years excluding dividends. Journey now towards tripling Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:Co-op bank scoops three awards at Banker Africa awards.
The bank was named
Best SME bank
Best Retail bank
Best investment institution Exactly how did it scoop these awards? I left the bank some years back because I couldn't get a personal chequeing account and couldn't stand their queues. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,696 Location: NAIROBI
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Dividend book closure pushed to 30 May 2018 Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:Dividend book closure pushed to 30 May 2018 Any reason why? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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Angelica _ann wrote:Ericsson wrote:Dividend book closure pushed to 30 May 2018 Any reason why? Possibly to postpone the inevitable price drop that comes after, especially now that the index is on a dive For investors as a whole, returns decrease as motion increases ~ WB
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