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Barclays sells custodial to SCB
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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BBK has sold off its custodial and securities business to SCB. Custodial and securities business in Kenya was profitable but BBK sold the business to comply with the strategy of Barclays PLC which has been diversting from custody and securities. BBK has advised investors to exercise caution when dealing whith the shares. Is there likely to be any material impact on the BBK share price? Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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No Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 9/4/2009 Posts: 700 Location: Nairobi
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@sparkly. Is this a Kenyan thing or a strategy for all of Barclays operations in Africa? “We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Scubidu wrote:@sparkly. Is this a Kenyan thing or a strategy for all of Barclays operations in Africa? Applies to worldwide operations. They have already divested in the Europe, America etc and the African subsidiaries are the last to sell off their custodial and securities businesses. Life is short. Live passionately.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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It is a strategy for all of Barclays' operations in Africa GOD BLESS YOUR LIFE
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Rank: Elder Joined: 12/13/2006 Posts: 2,589
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Will mostly affect the client's of the BBK custodial service clients e.g fund managers who have been using their services. Has no real material effect on the share, perhaps a perceived effect. BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Little or no effect on BBK... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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Wednesday, August 11, 2010 Barclays Bank will announce its financial results for the first half of 2010. Barclays Bank of Kenya was the only major commercial bank that reported a profit decline for their first quarter of the year results, which was attributed to reduced lending rate and high staff costs. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Well, at least this time they won't wait till the very last day GOD BLESS YOUR LIFE
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Rank: Veteran Joined: 6/17/2009 Posts: 1,619
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Pre-tax profits only up by 5%,no wonder they are levying higher fees on their customers.Interest income is proving difficult to grow.
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Rank: Veteran Joined: 7/24/2008 Posts: 781
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as regarding banks I am with mid-caps all the way...I believe DTB will be the shining star in a few years to come...never lost steam even after all banks choked to near death...yet ignored The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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sheep wrote:as regarding banks I am with mid-caps all the way...I believe DTB will be the shining star in a few years to come...never lost steam even after all banks choked to near death...yet ignored Regional growth. 1st Kenyan Bank to buy/expand into Tanzania, Burundi & Uganda Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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BBK is crap their service is terrible, credit cards barely work..why would anyone still be with BBK??..
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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Horton wrote:BBK is crap their service is terrible, credit cards barely work..why would anyone still be with BBK??.. Instead of calling BBK names, you need to understand that they are designed for a different *class*... You can have all your banking needs catered for by equity bank, family bank or any other bank. I bank with I&M and i am satisfied with their services after i realised that i could not maintain my standard chartered bank account. History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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These guys are SUPER dumb.... They priced the rights @167 bob.. No wonder the share price is crashing Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Horton wrote:BBK is crap their service is terrible, credit cards barely work..why would anyone still be with BBK??.. so many banks in the market, why direct your vitrol at bbk, just move coz their target these days are corporates and high networth individuals. Life is short. Live passionately.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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@guru, what should they have priced it at? Certainly not 93 someone here suggested. I had previously said they need to maximise the share premium as I believed, and still do, they would have got a full subscription even at 200.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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guru267 wrote:These guys are SUPER dumb.... They priced the rights @167 bob.. No wonder the share price is crashing @guru i presume you are talking of scb. Life is short. Live passionately.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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sparkly wrote:guru267 wrote:These guys are SUPER dumb.... They priced the rights @167 bob.. No wonder the share price is crashing @guru i presume you are talking of scb. Yes... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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guru267 wrote:sparkly wrote:guru267 wrote:These guys are SUPER dumb.... They priced the rights @167 bob.. No wonder the share price is crashing @guru i presume you are talking of scb. Yes... Have they adjusted the ratio of rights coz as i understand it their target is still 2.5B? Btw bbk are paying an interim div of sh 0.75. With an average entry of sh 50 per share, thats a yield of 1.5%. I love this share. Life is short. Live passionately.
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Barclays sells custodial to SCB
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