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BBK FY 2013 results profit down 14%

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Mastermind		#11 Posted : Thursday, February 06, 2014 2:24:32 PM
Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley		2012 wrote: Horton wrote: http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932 Down 14% I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock. Theres one-off restructuring cost of Sh 788M. If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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mibbz		#12 Posted : Thursday, February 06, 2014 2:26:21 PM
Rank: Member Joined: 2/18/2011 Posts: 448		2012 wrote: Horton wrote: http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932 Down 14% I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock. There was an article in BD a few weeks ago that Barclays was reaching its lending limits due to its minuscule core capital viz its customer appetite for borrowing All in all since the share split almost 5 years ago,it has struggled to go past ksh 18.If i remember well i exited at ksh 13.5 some years ago just after the split.
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hisah		#13 Posted : Thursday, February 06, 2014 3:17:14 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		2012 wrote: Horton wrote: http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932 Down 14% I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock. BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!! How many times are they restructuring... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr		#14 Posted : Thursday, February 06, 2014 3:49:58 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		jerry wrote: Aguytrying wrote: You wonder what the hurry was to release. Unless of course....these are some of the good results. "Announced a final dividend of Kes.0.70 on 12-February-2013. Books closure 13-March-2013. Payment 30-May-2013." Just being consistent!!! "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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Mastermind		#15 Posted : Thursday, February 06, 2014 3:56:22 PM
Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley		murchr wrote: jerry wrote: Aguytrying wrote: You wonder what the hurry was to release. Unless of course....these are some of the good results. "Announced a final dividend of Kes.0.70 on 12-February-2013. Books closure 13-March-2013. Payment 30-May-2013." Just being consistent!!! Murchr, you ignored the last statement. If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Mastermind		#16 Posted : Sunday, February 09, 2014 7:58:17 PM
Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley		hisah wrote: 2012 wrote: Horton wrote: http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932 Down 14% I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock. BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!! How many times are they restructuring... Barclays Bank of Kenya has ended a three-year staff restructuring plan that has seen it shed nearly 500 jobs. www.businessdailyafrica....88/-/mp6goq/-/index.html If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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mkeiy		#17 Posted : Monday, February 10, 2014 9:30:40 AM
Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi		Mastermind wrote: hisah wrote: 2012 wrote: Horton wrote: http://mobile.reuters.com/article/idUSL5N0LB0EG20140206?irpc=932 Down 14% I thought BBK laid off a considerably huge number of staff in the past 3 years? Or which costs are they talking about. The second thing I didn't understand is this line "cut its dividend in order to build up capital in line with the central bank's new requirements". BBK doesn't have enough capital to comply??? Is that even possible? I need to urgently sell off this stock. BBK profits hit by "one-off" restructuring costs. In the last 4yrs that statement has appeared thrice!!! How many times are they restructuring... Barclays Bank of Kenya has ended a three-year staff restructuring plan that has seen it shed nearly 500 jobs. www.businessdailyafrica....88/-/mp6goq/-/index.html KCB Group also shed 120 jobs at a cost of Sh1.2 billion as the lender closes a three-year restructuring plan aimed at reducing its wage bill. An average of 10mn per employee!
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Cde Monomotapa		#18 Posted : Tuesday, February 11, 2014 8:31:55 PM
Rank: Chief Joined: 1/13/2011 Posts: 5,964		Meanwhile at BB-Zim... Barclays posts $3m PAT on increased lending, +42% HARARE, February 11 (The Source) – Barclays Bank of Zimbabwe has reported an after tax profit of $3 million for the full year to December 31 2013 compared to $2,1 million recorded in prior year driven by growth in net interest income. Net interest income was up 61 percent to $12,3 million as gross loans and advances to customers increased by 26 percent to $117,7 million... - See more at: http://source.co.zw/2014...ng/#sthash.OsHaL8D2.dpuf
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