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I&M Bank FY 2011 results
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VituVingiSana
#11 Posted : Friday, May 20, 2011 11:06:01 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Pre-tax profits [regional/Group] for 1Q 2011

Citibank 828,000,000 (Kenya)
DTB 879,506,000 (Kenya, Uganda, Tanzania, Burundi)
I&M 1,128,323 (Kenya, Mauritius, Tanzania)

Wow! So when does I&M go public [listed on NSE?] I think probably after 2012 elections so mid-2013?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#12 Posted : Friday, May 20, 2011 5:33:19 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
@investor. I guess you are right. I saw I & M results on a newspaper and i was in a hurry. So you may be right, plus vvs has given similar to yours.
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#13 Posted : Friday, May 20, 2011 10:05:27 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
@Wazua - This I&M Bank conversation is picking up steam. Is it possible to move the conversations over to a new topic?

"I&M Bank 2011"

I wish you allowed us to upload documents to Wazua so they can be stored like results, etc that we can scan from the newspapers & upload
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Cde Monomotapa
#14 Posted : Saturday, May 21, 2011 10:17:58 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
I think for fair/better comparison could u give figures for what banks were created to do..i.e collect deposits & make loans. This "other income" isn't quite an "across board" measure we can rely on. Thanks.
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VituVingiSana
#15 Posted : Saturday, May 21, 2011 8:48:47 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
@wazua - Good move. I am sure we will look back at this post in 2-3 years saying you read it here first!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#16 Posted : Saturday, May 21, 2011 8:49:50 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Cde Monomotapa wrote:
I think for fair/better comparison could u give figures for what banks were created to do..i.e collect deposits & make loans. This "other income" isn't quite an "across board" measure we can rely on. Thanks.

LOL... Check out www.bankelele.blogspot.com who does his quarterly rankings for assets & PAT

This link will also help show the growth but not a comparison across banks

http://www.imbank.com/KE/inner.asp?cat=annurept
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Saturday, May 21, 2011 9:09 PM | Reason: Not specified
invest0r
#17 Posted : Sunday, May 22, 2011 9:28:15 AM
Rank: Member

Joined: 12/15/2010
Posts: 162
.
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invest0r
#18 Posted : Sunday, May 22, 2011 9:29:52 AM
Rank: Member

Joined: 12/15/2010
Posts: 162
VituVingiSana wrote:
[quote=Cde Monomotapa]I think for fair/better comparison could u give figures for what banks were created to do..i.e collect deposits & make loans. This "other income" isn't quite an "across board" measure we can rely on. Thanks.

LOL... Check out www.bankelele.blogspot.com who does his quarterly rankings for assets & PAT

This link will also help show the growth but not a comparison across banks

http://www.imbank.com/KE/inner.asp?cat=annurept[/quote]
@VVS, that is well done ranking of banks. I&M is highly ranked than DTB. @Cde, other incomes are a key operating income in banks. Bond trading income comprises more than 70% of these other incomes. And there is some negative correlation between bond trading income and forex trading income, so the banks bottom line is not significantly affected when one of the income falls
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VituVingiSana
#19 Posted : Sunday, May 22, 2011 9:53:38 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
@investor @cde The 'Other Income' should be split up by [per CBK reporting guidelines] into Bond Trading & other income e.g. rent, etc

Some banks get rental income e.g.
I&M @ Kenyatta Ave building has Safaricom, Standard Newspapers, etc
NIC @ masaba rd has other tenants as well
KCB @ Hilton has most offices as non-KCB!!! Doctors, lawyers, etc

So it is better for analysts to get a more detailed quarterly look at the split between the Bond Trading Income & 'other' (non-core) income...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#20 Posted : Sunday, May 22, 2011 10:41:43 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
Seems 2Q 2011 for banks will be 'ok' but 2H will be tough!
http://www.theeastafrica...-/14ykue5z/-/index.html

From SCB CEO Richard Etemesi
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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