Now these numbers are coming in and I realise what is worse than a poor investment decision is pessimism. Where is the doomsday prophesied by some? Nkt

Way to go KCB group and new CEO

After all the long wait.

ROARRRRRRRRRRRR

The Group’s performance was driven by improved operational efficiency, increased business and positive international business contribution.

Key Performance Highlights
Customer Deposits: Up 3% from KShs. 279Billion to KShs. 288Billion
Total Assets: Up 6% from KShs. 349Billion to KShs. 371Billion
Cost to Income Ratio: Lower by 180bps from 56.4% to 54.6%.
Total Operating Expenses: Up 6% from KShs. 11.9Billion to KShs 12.7Billion
Net Interest Income: Up 12% from KShs. 14.3Billion to KShs. 16.1Billion
Fees and Commission: Up 9% from KShs. 4.6Billion to KShs 5.0Billion
International Business PBT: Up 72% from KShs 0.6Billion to KShs 1.1Billion
Shareholder Equity: Up 20% from KShs. 46.4Billion to KShs. 55.8Billion

KCB Group CEO, Mr. Joshua Oigara, has announced a KShs. 10.1Billion pretax profit for the Group for the first half of 2013, reflecting a 19% growth over the same period in 2012.
https://www.facebook.com/notes/k...-profits/645890922111303

Quite impressive performance by the lion. waiting for the share to hit Ksh50!!

I have always wondered why in this age of IT our banks require two months or more to release their financial results?

I believe that all financial institutions especially banks "reconcile" their affairs fully at the end of each busines day and for the external audit, the half-year exercise is only a limited review and not a full audit, an exercise than can be completed within a week.

So why are financial institutions in Kenya unable to release their results within 30 days of the reporting date?

Then the dividends (if you are lucky) are released a whole six months after the reporting date yet these are cash-rich enterprises!

Shareholders deserve better.

Because in times of CRISIS such as this, investors flee to safe (read USD denominated) assets and exit riskier assets such as emerging markets, commodities and EM currencies. I am actually surprised that the Kenyan market has held up very well so far.

"KCB is now ranked Kenya’s most profitable lender ahead of Equity which posted Sh6.3 billion in half-year profits and Co-operative Bank at Sh4.7 billion.

The bank’s staff costs increased seven per cent to Sh6.3 billion, attributed to a Sh750 million one-off cost in laying off 200 staff members early this year.

KCB’s volume of bad loans was up 73 per cent to Sh8.8billion, blamed on a government freeze on paying State suppliers in the run up to the March poll.

This is in line with an industry-wide trend which saw total non-performing loans increase 10 per cent as at the end of June."

IT savvyness doesn't really much influence release dates. I think its more of a business/board of directors prerogative and CMA rules. Some boards deliberately delay release when they either want to 'play' the market or heighten anxiety especially when expecting good result. There is a chance of marginal gains depending on how well they play the market. IMHO