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Coop Bank 2019 and beyond
Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders. What was Coop's PAT for 1H 2020? 12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time. Indeed alot of cash. With COVID-19 in town and the aftermath it will take to recover like 6 years. Not unless they do what shareholders are scared of (rights issue) More than even what KCB will pay for NBK. Coop PAT 1H for 2020 was ksh.7.1bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders. What was Coop's PAT for 1H 2020? 12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time. Link https://www.businessdail...evamp-jamii-bora-2722894Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 1/4/2019 Posts: 69 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders. What was Coop's PAT for 1H 2020? 12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time. Link https://www.businessdail...vamp-jamii-bora-2722894[/quote] I guess cleaning this mess up is what they mean by "focusing on local business"
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Rank: Member Joined: 12/1/2007 Posts: 539 Location: Nakuru
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babashuge wrote:Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders. What was Coop's PAT for 1H 2020? 12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time. Link https://www.businessdail...vamp-jamii-bora-2722894[/quote] I guess cleaning this mess up is what they mean by "focusing on local business" Safe to assume we are not seeing any dvd in the near future. Maybe I missed it but have they stated how they're planning to raise the 12.5 b For investors as a whole, returns decrease as motion increases ~ WB
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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To get a good view of COVID-19 effects on the financials I will do a Quarter on Quarter profit summary; Q1--5.1bn Q2--4.5bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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winmak wrote:babashuge wrote:Ericsson wrote:VituVingiSana wrote:[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders. What was Coop's PAT for 1H 2020? 12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time. Link https://www.businessdail...vamp-jamii-bora-2722894[/quote] I guess cleaning this mess up is what they mean by "focusing on local business" Safe to assume we are not seeing any dvd in the near future. Maybe I missed it but have they stated how they're planning to raise the 12.5 b Dividend will be there but probably on a reduced figure.Compensation will be a bonus share issue Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ericsson wrote:To get a good view of COVID-19 effects on the financials I will do a Quarter on Quarter profit summary;
Q1--5.1bn
Q2--4.5bn Q3--4.2bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Profit warning issued Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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Queen wrote:mlennyma wrote:Why does Kcb look more exposed than Co- op?does oigara own any Kcb shares? Stanbic bank's results (in today's papers) compares favourably with those of KCB. One can therefore conclude that there is an anomaly in Co-op bank's results. Post #123 of 14th August, 2020. You can't cook books forever. There is alot of blood in all banking halls.
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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According to what this guy's reported upto Q3,a warning was not expected unless they made 0 income in Q4 "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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mlennyma wrote:According to what this guy's reported upto Q3,a warning was not expected unless they made 0 income in Q4 The only probable scenario is that they employed very many cooks in their kitchen. From Post#123 quoted above, it was rather obvious that Coop bank's results, compared to those of other banks, were an outlier.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ericsson wrote:Profit warning issued https://mobile.twitter.c...7421649604403200/photo/1Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Ericsson wrote:[quote=Ericsson]Profit warning issued https://mobile.twitter.c...421649604403200/photo/1[/quote] "materially lower" means it will be more than 25%. Towards the goal of financial freedom
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?
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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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Queen wrote:You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who? The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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mlennyma wrote:Queen wrote:You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who? The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions. I expect Equity group to also follow suit. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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mlennyma wrote:Queen wrote:You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who? The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters Lies was to protect the share price from further erosion. Luckily in the spirit of wazua someone had already raised the red flag. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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Ericsson wrote:mlennyma wrote:Queen wrote:You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who? The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters Lies was to protect the share price from further erosion. Luckily in the spirit of wazua someone had already raised the red flag. Since it's rather obvious lies were involved ( and probably have been involved in lies severally in the past), we now know how this award was arrived at and, with the benefit of hindsight, should probably be withdrawn. Best bank, my foot! https://www.the-star.co....nya-at-emea-awards-2020/
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Rank: Member Joined: 11/21/2018 Posts: 564 Location: Britain
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Ericsson wrote:mlennyma wrote:Queen wrote:You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits. But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who? The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions. I expect Equity group to also follow suit. Same here.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://www.businessdail...n-ifc-businesses-3260984Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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