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Barclays Q1 2013 net profit drops 15.6pc
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Weighed by a Sh658 million expenditure on retrenchment of 170 workers. The bank would have increased net profit by 5.7 per cent had it not spent the cash on staff cuts. http://www.businessdailyafrica....4/-/l93w43z/-/index.html
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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I apologize beforehand for slightly diverging your thread. Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 7/26/2007 Posts: 6,514
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dunkang wrote:I apologize beforehand for slightly diverging your thread.
Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? South Sudan kicked in. Business opportunities are like buses,there's always another one coming
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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With NBK, BBK and Stanchart reporting profit declines, and having palyed mind games with release of results (to see who would come out on top), I am becoming very skeptical about financial reporting by banks.
I think that the EY report on malfeasance and the Citigroup report on playing with bond pricing should be taken very seriously.
The EY survey had anonymous admissions by CFOs about cooking of results due to pressure to deliver.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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KulaRaha wrote:dunkang wrote:I apologize beforehand for slightly diverging your thread.
Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? South Sudan kicked in. Really? I had thought that place was in a mess currently. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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accelriskconsult wrote:With NBK, BBK and Stanchart reporting profit declines, and having palyed mind games with release of results (to see who would come out on top), I am becoming very skeptical about financial reporting by banks.
I think that the EY report on malfeasance and the Citigroup report on playing with bond pricing should be taken very seriously.
The EY survey had anonymous admissions by CFOs about cooking of results due to pressure to deliver. Just why are we blaming Kenyan banks for the various weaknesses in IFRS?? Last time I checked all the cooking met IFRS to the letter!!  Mark 12:29
Deuteronomy 4:16
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Rank: Veteran Joined: 1/25/2012 Posts: 1,624 Location: Langley
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dunkang wrote:KulaRaha wrote:dunkang wrote:I apologize beforehand for slightly diverging your thread.
Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? South Sudan kicked in. Really? I had thought that place was in a mess currently. Mess?? Regional subsidiaries of Kenyan banks made a combined profit of Ksh5.1 billion; South Sudan 47% Tanzania 31% Uganda 12.5% Rwanda 9.6% But I don’t think that’s the reason @Kularaha 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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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Mastermind wrote:dunkang wrote:KulaRaha wrote:dunkang wrote:I apologize beforehand for slightly diverging your thread.
Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? South Sudan kicked in. Really? I had thought that place was in a mess currently. Mess?? Regional subsidiaries of Kenyan banks made a combined profit of Ksh5.1 billion; South Sudan 47% Tanzania 31% Uganda 12.5% Rwanda 9.6% But I don’t think that’s the reason @Kularaha SS must have contributed to the noteworthy increase in forex income. …. then KE low cost of funds contributed significantly reduced interest expense. These, plus growth in interest income and global markets business, will continue to make CFC sparkle 
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Rank: Elder Joined: 5/25/2012 Posts: 4,105 Location: 08c
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dunkang wrote:I apologize beforehand for slightly diverging your thread.
Just how did CFC Stanbic manage their's. It seems all others are around 20%. I have gone through the report summary and it seems ok. Anyone with another perspective? [url=http://www.contrarianinvestingkenya.info/index.php/research-hub/145-cfc-stanbic-fy-2012-earnings-analysis-kenya-s-full-service-bank]kenya's full service bank?[/url] Pesa Nane plans to be shilingi when he grows up.
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Rank: Veteran Joined: 3/26/2012 Posts: 1,182
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accelriskconsult wrote:With NBK, BBK and Stanchart reporting profit declines, and having palyed mind games with release of results (to see who would come out on top), I am becoming very skeptical about financial reporting by banks.
I think that the EY report on malfeasance and the Citigroup report on playing with bond pricing should be taken very seriously.
The EY survey had anonymous admissions by CFOs about cooking of results due to pressure to deliver. BBK and Stanchart have been chasing away thei customers with their unreasonable charges/fees. On the other hand,Coop and Cfc have been gaining ground. There might have been some cooking,but BBK and Stanchart have other woes.
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Rank: Elder Joined: 6/23/2009 Posts: 13,556 Location: nairobi
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mkeiyd wrote:accelriskconsult wrote:With NBK, BBK and Stanchart reporting profit declines, and having palyed mind games with release of results (to see who would come out on top), I am becoming very skeptical about financial reporting by banks.
I think that the EY report on malfeasance and the Citigroup report on playing with bond pricing should be taken very seriously.
The EY survey had anonymous admissions by CFOs about cooking of results due to pressure to deliver. BBK and Stanchart have been chasing away thei customers with their unreasonable charges/fees. On the other hand,Coop and Cfc have been gaining ground. There might have been some cooking,but BBK and Stanchart have other woes. this cooking may cause a collapse of our financial systems in similar fashion to what happened in Nigeria. the green regional bank in particular raises eyebrows. it could not have possibly increased its profit in Q1 as reported
COOP 70,000 ABP 15.20; HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,556 Location: nairobi
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poor BBK now behind Equity, KCB and COOP in profitability. In next three years KCB will be out muscled by COOP for the number two slot..
COOP 70,000 ABP 15.20; HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Member Joined: 3/20/2008 Posts: 503
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obiero wrote:poor BBK now behind Equity, KCB and COOP in profitability. In next three years KCB will be out muscled by COOP for the number two slot.. How can the NSE fail to Publish Barclays Kenya’s 1st Quarter 2013 results???????? did any one see the detailed results????????
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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xxxxx wrote:obiero wrote:poor BBK now behind Equity, KCB and COOP in profitability. In next three years KCB will be out muscled by COOP for the number two slot.. How can the NSE fail to Publish Barclays Kenya’s 1st Quarter 2013 results???????? did any one see the detailed results???????? Daily Nation of Friday, 31st May 2013 page 27. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
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The bank is dead in Kenya;it has run out of ideas and is only growing profits via cost cutting. Management has no tangible ideas on what plans they have to grow the bank. I won't be shocked when CFC Stanbic overtakes them in terms of profitability.This year Co-op will pip them from number 3 position and Co-op being a bank that never looks back it will be like what Equity did to them;overtook them and Barclays has never recovered Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Just having some teething problems following the Absa merger & appointment of new MD...they have mandates to the KenGen geothermal capital quest...do u knw how big is that? Coop Bank is overrated...no capacity to play in the big league.
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Barclays Q1 2013 net profit drops 15.6pc
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