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NBK FY 2012 RESULTS
Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Apart from the rise in staff costs (which can be fixed by firing), the real problem is the cost of funding. That is not sustainable and is not the way to run a bank... Sehemu ndio nyumba
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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jerry wrote:murchr wrote:Some thorough cleaning going on here, I really sympathise with the shushu's who hold this monkey. You mean SHUSHUs and GUKAs? Advise the ones you know personaly if any. The ones i see walking out of AGMs when the results read are an eye and earsore....I know none If i did i would advise accordingly. Sell n pick it up wh it lands down there. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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 NBK freezes jobs as staff cost to total income ratio rises to outrageous 41% in FY 12. http://www.businessdailyafrica....4/-/9ttiujz/-/index.html
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Can't help but notice Member's position  GOD BLESS YOUR LIFE
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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youcan'tstopusnow wrote:Can't help but notice Member's position  The Benchmark Let's see how this fast-track reforms & expansion NBK combo-pack will pan out. S/O Messrs McKinsey
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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As I said, reducing costs without working out how to source cheaper deposits is only a stopgap measure Sehemu ndio nyumba
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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youcan'tstopusnow wrote:Can't help but notice Member's position True that @YCSUN on Member's management of costs. I side with @Hisah's prediction that Member will have a higher growth in stock price than Simba. I also believe they'l trounce simba profitwise in FY2013. We await Q1 figures with bated breath!! @SufficientlyP
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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NBK needs a major over haul if its to compete with the other banks. From branding to innovation and aggressiveness. In the meanwhile the non performing loans are worry some. Was it not for that and the high cost to income. It may be worth a recovery play at low price The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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The ratio of npl to loans is not dissimilar to Simba's which has a staggering 14bn of non performing loans. The difference is that Simba makes serious revenue. Sehemu ndio nyumba
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Absolute figures can be misleading. Relying on percentages is more credible IMO i.e NNPL or even GNPL as a % of the total loan book.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Cde Monomotapa wrote: Absolute figures can be misleading. Relying on percentages is more credible IMO i.e NNPL or even GNPL as a % of the total loan book. GNPL as a % of loans for Simba is 7% and 7.9% for NBK. Obviously, NBK's new CEO has emptied the cupboard... The importnance of the absoulte number is that if you were doing a stress scenario, you'd want to see how a 50% write-off of the npls would impact the overall P&L. Sehemu ndio nyumba
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Mainat wrote:Cde Monomotapa wrote: Absolute figures can be misleading. Relying on percentages is more credible IMO i.e NNPL or even GNPL as a % of the total loan book. GNPL as a % of loans for Simba is 7% and 7.9% for NBK. Obviously, NBK's new CEO has emptied the cupboard... The importnance of the absoulte number is that if you were doing a stress scenario, you'd want to see how a 50% write-off of the npls would impact the overall P&L. huh! when did 7 & 7.9% ratio become good¿ guyz you need to check Equity Bank that is less than half of that or I&M that is resting at 1% levels
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Management has given its (company specific) reasons & proposed solutions. As a Investor you either Buy, Sell or Avoid and forever hold your peace. Simple.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Horrible company. Life is short. Live passionately.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Cde Monomotapa wrote:Management has given its (company specific) reasons & proposed solutions. As a Investor you either Buy, Sell or Avoid and forever hold your peace. Simple. This share may be worth a speculative play for me. Its similar to where simba was a few years ago. If management can restructure and get the company back to where it was, and esp that cost of funds. That alone can reap handsome returns for an investor. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Cde Monomotapa wrote:Management has given its (company specific) reasons & proposed solutions. As a Investor you either Buy, Sell or Avoid and forever hold your peace. Simple. NB: NBK is still a going concern (Q1 '13 is over) & as a Investor is to acknowledge the co-relation btwn money mkt rates & cost of deposits. Comparing FY '12 & FY '13 rates is a stark difference clear as day. That's my trick no. 1. All that & more will be confirmed as results are rolled out.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Cde Monomotapa wrote:Cde Monomotapa wrote:Management has given its (company specific) reasons & proposed solutions. As a Investor you either Buy, Sell or Avoid and forever hold your peace. Simple. NB: NBK is still a going concern (Q1 '13 is over) & as a Investor is to acknowledge the co-relation btwn money mkt rates & cost of deposits. Comparing FY '12 & FY '13 rates is a stark difference clear as day. That's my trick no. 1. All that & more will be confirmed as results are rolled out. I can ammend up there. You either, buy, sell or walk away (shut up) The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Mweke- not sure where I've said npls are a good thing. Was merely sayings NBK's is comparable to Simbas. NBK needs to figure out who its customers are. End of. I haven't seen this in the McKinsey manual Sehemu ndio nyumba
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Rank: Elder Joined: 3/19/2013 Posts: 2,552
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What's happening with this counter?
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Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi
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Nbk has done sm considerable mngt changes in its overall business poaching sm of th best guys from th competitor- Nic, Stanchart, Bbk.. The other main challange facing th co. Is th high n.o of staff in branches yet th customer volumes do not support that!
This stock is a Buy! I think with th ongoing changes, th stock cannot go lower than that. Again this is a good buy!!
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