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Co-operative Bank Q1 2013 results
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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VituVingiSana wrote:mwanahisa wrote:Stronger than I expected.
PBT up from 2.467 B to 3.227 B
PAT up from 1.96 B to 2.6 B.
On the other hand Comprehensive income took a knock from 3.68B to 1.6 B. Seems like their bond play got thoroughly whacked. On a Q on Q basis, the loss on Bonds is 1bn for 1Q 2013. Not great but if the trend for Bonds (yield dropping) has been positive in 2Q, they can recover the loss. On the other hand these are paper losses i.e. they can get back the full principal as the Bonds mature. The key question is what is the yield on these bonds? No point earning 8% on bonds if Coop is paying 8% on deposits! On the other hand, if these are short-term bonds then they can just wait till they mature without much ado. #Word @VVS. ... &a bright note is that coop Q1-2013 cost of funds is a low 3.6% while its Q1-2013 yield on interest earning assets is 15.4%. That gives us NIM (Net Interest Margin) of 11.8% (15.4%-3.6%) ... :)
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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mwekez@ji wrote:Income statement performance; A
Balance sheet performance; C
Overall performance; B >>> This counter has attractive valuation with @jerry in post 2 ;) jerry in post 2 wrote:Overal score: B
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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This one will bag you 10times your money in 10 years... Mark 12:29
Deuteronomy 4:16
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Co-operative Bank Q1 2013 results
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