Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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51% increase in pretax profit? How is this possible? Sack a couple of heads, merge others then make humongous profit! Pure CAPITALIST...  But for wana-share, kudos as you LMAOs to the ATM.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Impunity wrote:51% increase in pretax profit? How is this possible? Sack a couple of heads, merge others then make humongous profit! Pure CAPITALIST... But for wana-share, kudos as you LMAOs to the ATM. @impunity seriously where have you been??? their real profit growth is around 5% The 51% growth has come from the sale of their custodial services to stanchart Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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guru267 wrote:Impunity wrote:51% increase in pretax profit? How is this possible? Sack a couple of heads, merge others then make humongous profit! Pure CAPITALIST... But for wana-share, kudos as you LMAOs to the ATM. @impunity seriously where have you been??? their real profit growth is around 5% The 51% growth has come from the sale of their custodial services to stanchart @guru, surely where have you been yourself? Minus the sale of the custodial services, the pretax profit growth is in excess of 20%;thats the truth. 5% is kinda too little.. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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@impunity the gain from the sale of the custodial services was 3.5 billion leaving a real operating profit of 10billion which is about a 10% profit growth.. Barclays kenya will never post a 20% growth in a boom period.. Mark 12:29
Deuteronomy 4:16
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Rank: Member Joined: 6/28/2007 Posts: 38
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This so called 51% Profit is the blond and sweat of Kenyans , banks cost of funds is 4% but they charge up to 18%% on loans it is time we brought back the donde bill or put a cap like we did on petrol prices . All commercial banks are fleecing kenyans its time to stand up and make them drop their rates And just by the way where is this central bank governer of ours who the other day was fighting that safarcom was over charging mobile money clients by 30 shs yet he has got absolutely nothing to say on the cpmmercial banks ripping off 100 billion in profits from kenyans every year Its time to speak out against this rip off UN PACTUM UN DICTUM
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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stocksguru7 wrote:This so called 51% Profit is the blond and sweat of Kenyans , banks cost of funds is 4% but they charge up to 18%% on loans it is time we brought back the donde bill or put a cap like we did on petrol prices .
All commercial banks are fleecing kenyans its time to stand up and make them drop their rates
And just by the way where is this central bank governer of ours who the other day was fighting that safarcom was over charging mobile money clients by 30 shs yet he has got absolutely nothing to say on the cpmmercial banks ripping off 100 billion in profits from kenyans every year
Its time to speak out against this rip off
@STOCKSGURU7 please dont hate on capitalism... Just get used to it Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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guru267 wrote:@impunity the gain from the sale of the custodial services was 3.5 billion leaving a real operating profit of 10billion which is about a 10% profit growth..
Barclays kenya will never post a 20% growth in a boom period.. I NORMALLY DONT TRUST OUR MEDIA HOUSES 63%...But for NTV to repeat the same news three times including this morning!Plus citizen and KTN channels, its hard to believe thy lied. Anyway any person here with a link to the results can put this rest. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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Soma gazeti Daily Nation page 7 & 26.Take your time. Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Impunity wrote:guru267 wrote:@impunity the gain from the sale of the custodial services was 3.5 billion leaving a real operating profit of 10billion which is about a 10% profit growth..
Barclays kenya will never post a 20% growth in a boom period.. I NORMALLY DONT TRUST OUR MEDIA HOUSES 63%...But for NTV to repeat the same news three times including this morning!Plus citizen and KTN channels, its hard to believe thy lied. Anyway any person here with a link to the results can put this rest. @impunity the growth in the PBT not the PAT is more relevant. PBT was up 10% while PAT was up 20%... Mark 12:29
Deuteronomy 4:16
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Rank: Veteran Joined: 3/12/2010 Posts: 1,199 Location: Eastlander
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Impunity wrote:51% increase in pretax profit? How is this possible? Sack a couple of heads, merge others then make humongous profit! Pure CAPITALIST... But for wana-share, kudos as you LMAOs to the ATM. seriously.. did we need a new thread on this? ..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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Rank: Elder Joined: 7/21/2010 Posts: 6,192 Location: nairobi
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Someone wants to be noticed. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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The HUGE disparity on the BS btwn interest earned on loans & interest paid on deposits is just hilarious! Lol!
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Rank: Member Joined: 6/21/2010 Posts: 514 Location: Nairobi
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guru267 wrote:Impunity wrote:guru267 wrote:@impunity the gain from the sale of the custodial services was 3.5 billion leaving a real operating profit of 10billion which is about a 10% profit growth..
Barclays kenya will never post a 20% growth in a boom period.. I NORMALLY DONT TRUST OUR MEDIA HOUSES 63%...But for NTV to repeat the same news three times including this morning!Plus citizen and KTN channels, its hard to believe thy lied. Anyway any person here with a link to the results can put this rest. @impunity the growth in the PBT not the PAT is more relevant. PBT was up 10% while PAT was up 20%... @Impunity, go ahead and look at their deferred tax and you'll understand guru267. Newspapers will never do the analysis for you, you have to do it yourself. 51% is there to make good news headline. 'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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guru267 wrote:Impunity wrote:51% increase in pretax profit? How is this possible? Sack a couple of heads, merge others then make humongous profit! Pure CAPITALIST... But for wana-share, kudos as you LMAOs to the ATM. @impunity seriously where have you been??? their real profit growth is around 5% The 51% growth has come from the sale of their custodial services to stanchart @g267, I have been away since the weekend but I have now managed to have a look at the BBK results. You are wrong on the profit growth figure you have cited above. Normalised profits after tax (ignoring the impact of the exceptional item <i.e the gain> arising on the sale of the custody business to SCBK did indeed grow by about 22%. For a giant like BBK, that is not growth to scoff at, I would actually say these results came in slightly better than my expectations. However the price jump is primarily due to the hefty dividend. Will it be sustained? Possible but unlikely!
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Rank: Chief Joined: 1/3/2007 Posts: 18,259 Location: Nairobi
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22% profit growth for BBK = entire profit of some mid-sized banks! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 6/21/2010 Posts: 514 Location: Nairobi
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I'm starting to have a feeling that this year investors will be largely driven by capital retention, modest growth & good income yields. 'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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Rank: Veteran Joined: 6/2/2010 Posts: 1,075
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The truth is that the BBK results were very good; with or without the sale of the custodial business. The growth mainly came from cost containment. Something that SCBK is also extremely good at. By sitting tight on costs I am sure they will manage to squeeze out another 1 billion extra in profits next year.
Some banks report 'phantom profits'. To test actuality check dividends as a % of declared profits..........
I hope people are not busy cooking books hence delays from other banks
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Rank: Member Joined: 8/5/2010 Posts: 335 Location: Nairobi
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VituVingiSana wrote:22% profit growth for BBK = entire profit of some mid-sized banks! Profit for Barclays = sum of profit for all Insurance Companies in Kenya...  "I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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Rank: Member Joined: 7/7/2008 Posts: 124
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Dear shareholders let us say no to split of this share!It is not worth it.I recall in the first split when it was around 590/=,after the split,was it 5 times?...it plummeted to almost 40 bob!!Today its around 59/= and i guess at the date of book closure it will be at 50/=.Meaning after split it will be 12.50/=.Good gracious is it worth it?NOPE!!Vote no split please!!!
Do not ask me at what point I got in but I am contented to have it inherited by my children coz I can't sell....never ever...the effect would be too painful to bear!
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Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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Miser, if you're not ever ever selling, then a split shouldnt worry you too much. In fact,any drop in price allows you to pick more shares cheaply. The price will eventually reflect the value of the share.
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