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Coop Bank 2019 and beyond
Rank: Member Joined: 2/15/2010 Posts: 166 Location: Kenya
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Co-Op have no known expansion plans outside Kenya, so substantial part of profit will be given as dividend 1.5Kes/share or may be even more.
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Rank: Member Joined: 2/15/2010 Posts: 166 Location: Kenya
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COOP's operating income was flat Vs 2022, they only booked an increase in net profit after reducing provisions, this while gross NPLs increased.
NCBA might soon solidly beat them to number 3 bank in Kenya, NCBA already has bigger balance sheet, only remaining metric is profit and gap is closing.
The wisdom of their decision not to invest outside KE, save for S. Sudan is debatable.
Do they need a new MD with new ideas?
The jamii bora takeover went well though after buying it for 1B, it now has PBT of 1B.
All in all a good dividend play(because where else are they going to take the profits?), great value at current price.
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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DtheK wrote:COOP's operating income was flat Vs 2022, they only booked an increase in net profit after reducing provisions, this while gross NPLs increased.
NCBA might soon solidly beat them to number 3 bank in Kenya, NCBA already has bigger balance sheet, only remaining metric is profit and gap is closing.
The wisdom of their decision not to invest outside KE, save for S. Sudan is debatable.
Do they need a new MD with new ideas?
The jamii bora takeover went well though after buying it for 1B, it now has PBT of 1B.
All in all a good dividend play(because where else are they going to take the profits?), great value at current price.
Co-op bank is very cautious in expansion out of Kenya. They were waiting to partner with the Sacco movement in Uganda and Rwanda to open a sacco bank but this is yet to materialise. The gap between them and NCBA in PBT terms is still wide,the main worry for NCBA is ABSA Kenya who are hot on their heels for the 4th position in Kenya.For the second year in a row Absa have managed to keep the gap with NCBA close. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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Ericsson wrote:DtheK wrote:COOP's operating income was flat Vs 2022, they only booked an increase in net profit after reducing provisions, this while gross NPLs increased.
NCBA might soon solidly beat them to number 3 bank in Kenya, NCBA already has bigger balance sheet, only remaining metric is profit and gap is closing.
The wisdom of their decision not to invest outside KE, save for S. Sudan is debatable.
Do they need a new MD with new ideas?
The jamii bora takeover went well though after buying it for 1B, it now has PBT of 1B.
All in all a good dividend play(because where else are they going to take the profits?), great value at current price.
Co-op bank is very cautious in expansion out of Kenya. They were waiting to partner with the Sacco movement in Uganda and Rwanda to open a sacco bank but this is yet to materialise. The gap between them and NCBA in PBT terms is still wide,the main worry for NCBA is ABSA Kenya who are hot on their heels for the 4th position in Kenya.For the second year in a row Absa have managed to keep the gap with NCBA close. COOP on Q1 2024 will be the number 2 PBT. I speak in code
KQ ABP 4.26
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:Ericsson wrote:DtheK wrote:COOP's operating income was flat Vs 2022, they only booked an increase in net profit after reducing provisions, this while gross NPLs increased.
NCBA might soon solidly beat them to number 3 bank in Kenya, NCBA already has bigger balance sheet, only remaining metric is profit and gap is closing.
The wisdom of their decision not to invest outside KE, save for S. Sudan is debatable.
Do they need a new MD with new ideas?
The jamii bora takeover went well though after buying it for 1B, it now has PBT of 1B.
All in all a good dividend play(because where else are they going to take the profits?), great value at current price.
Co-op bank is very cautious in expansion out of Kenya. They were waiting to partner with the Sacco movement in Uganda and Rwanda to open a sacco bank but this is yet to materialise. The gap between them and NCBA in PBT terms is still wide,the main worry for NCBA is ABSA Kenya who are hot on their heels for the 4th position in Kenya.For the second year in a row Absa have managed to keep the gap with NCBA close. COOP on Q1 2024 will be the number 2 PBT. I speak in code Fresh blood and ideas is yearning in the organization. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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obiero wrote:Ericsson wrote:DtheK wrote:COOP's operating income was flat Vs 2022, they only booked an increase in net profit after reducing provisions, this while gross NPLs increased.
NCBA might soon solidly beat them to number 3 bank in Kenya, NCBA already has bigger balance sheet, only remaining metric is profit and gap is closing.
The wisdom of their decision not to invest outside KE, save for S. Sudan is debatable.
Do they need a new MD with new ideas?
The jamii bora takeover went well though after buying it for 1B, it now has PBT of 1B.
All in all a good dividend play(because where else are they going to take the profits?), great value at current price.
Co-op bank is very cautious in expansion out of Kenya. They were waiting to partner with the Sacco movement in Uganda and Rwanda to open a sacco bank but this is yet to materialise. The gap between them and NCBA in PBT terms is still wide,the main worry for NCBA is ABSA Kenya who are hot on their heels for the 4th position in Kenya.For the second year in a row Absa have managed to keep the gap with NCBA close. COOP on Q1 2024 will be the number 2 PBT. I speak in code Absa is closing the gap with them and may soon overtake them in PBT Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 8/16/2011 Posts: 2,386
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Co-op Bank serves majority low end investors similar to Equity
Where has Co-op been left by Equity
Was aiming for Kes 2 upwards for Co-op.
Or will they consider a script dividend?
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Realtreaty wrote:Co-op Bank serves majority low end investors similar to Equity
Where has Co-op been left by Equity
Was aiming for Kes 2 upwards for Co-op.
Or will they consider a script dividend? Equity went regional,coop remained domestic Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,211 Location: nairobi
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Ericsson wrote:Realtreaty wrote:Co-op Bank serves majority low end investors similar to Equity
Where has Co-op been left by Equity
Was aiming for Kes 2 upwards for Co-op.
Or will they consider a script dividend? Equity went regional,coop remained domestic Coop entered South Sudan in 2013. Correct me if I am wrong
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:Ericsson wrote:Realtreaty wrote:Co-op Bank serves majority low end investors similar to Equity
Where has Co-op been left by Equity
Was aiming for Kes 2 upwards for Co-op.
Or will they consider a script dividend? Equity went regional,coop remained domestic Coop entered South Sudan in 2013. Correct me if I am wrong Yes but in a much smaller way vs Equity Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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