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CFC Stanbic Bank Q3 2013 PAT rise 52%
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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CFC Stanbic Bank, subsidiary of CFC Stanbic Holdings, has announced 3Q13 results, posting a 52.4% y/y rise in PAT to KES 3.3bn driven by improved cost efficiency, growth in net interest income and non-interest income. The cost to income ratio improved to 54.3% from 59.0% in 3Q12 driven by stability in operating expenses (+5.3% y/y to KES 6.3bn net of loan loss provisions), as operating income grew 14.3% y/y to KES 11.6bn. Net interest income grew 15.0% y/y to KES 5.5bn driven by a faster decline in interest expenses (-49.9% y/y to KES 2.1bn) than that in interest income (-15.5% y/y to KES 7.7bn). Customer deposit expenses declined 52.1% y/y to KES 1.7bn even as total deposits grew 12.7% y/y to KES 96.6bn. Interest from loans and advances declined 28.3% y/y to KES 5.6bn and the loan book expanded 7.5% y/y to KES 66.9bn. Both interest income and expenses declined on the back of lower average interest rates in 2013 compared to 2012. Non-interest income grew 13.6% y/y to KES 6.1bn driven by higher forex trading income (+49.8% y/y to KES 2.4bn) and “Other” fees and commissions (+41.9% y/y to KES 1.4bn). (Source; Company, Kestrel Research)
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Rank: Member Joined: 10/20/2013 Posts: 155
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@mwekezaji.... Thanks for the good news. The best Q3 results so far, in terms of percentages. These are what I call results. Kshs 100 here we come! MY NAME IS ADNAN JANUZAJ
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Rank: Member Joined: 1/21/2013 Posts: 427
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mwekez@ji wrote:CFC Stanbic Bank, subsidiary of CFC Stanbic Holdings, has announced 3Q13 results, posting a 52.4% y/y rise in PAT to KES 3.3bn driven by improved cost efficiency, growth in net interest income and non-interest income. The cost to income ratio improved to 54.3% from 59.0% in 3Q12 driven by stability in operating expenses (+5.3% y/y to KES 6.3bn net of loan loss provisions), as operating income grew 14.3% y/y to KES 11.6bn. Net interest income grew 15.0% y/y to KES 5.5bn driven by a faster decline in interest expenses (-49.9% y/y to KES 2.1bn) than that in interest income (-15.5% y/y to KES 7.7bn). Customer deposit expenses declined 52.1% y/y to KES 1.7bn even as total deposits grew 12.7% y/y to KES 96.6bn. Interest from loans and advances declined 28.3% y/y to KES 5.6bn and the loan book expanded 7.5% y/y to KES 66.9bn. Both interest income and expenses declined on the back of lower average interest rates in 2013 compared to 2012. Non-interest income grew 13.6% y/y to KES 6.1bn driven by higher forex trading income (+49.8% y/y to KES 2.4bn) and “Other” fees and commissions (+41.9% y/y to KES 1.4bn). (Source; Company, Kestrel Research) .
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Rank: Member Joined: 1/21/2013 Posts: 427
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Adnan wrote:@mwekezaji.... Thanks for the good news.
The best Q3 results so far, in terms of percentages. These are what I call results. Kshs 100 here we come!  HFCK at 59% PBT and 71% PAT
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Rank: Member Joined: 10/20/2013 Posts: 155
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timuka wrote:Adnan wrote:@mwekezaji.... Thanks for the good news.
The best Q3 results so far, in terms of percentages. These are what I call results. Kshs 100 here we come! HFCK at 59% PBT and 71% PAT Thanks for the correction. MY NAME IS ADNAN JANUZAJ
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Adnan wrote:@mwekezaji.... Thanks for the good news.
The best Q3 results so far, in terms of percentages. These are what I call results. Kshs 100 here we come! Karibu @Adnan. The results and run rate are indeed very good. Lets make the $money$
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Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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The optimist wrote:Impressive results. I am sure it will be our turn to eat in 2014  Thieves
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Impressive balance sheet growth especially the double digit growth in customer deposits...the bank is gaining market share especially at the retail end....Q3 would have been better but the uptick in yields in the money markets & stable Shilling affected non interest income. Looking forward to a better Q4 and FY.
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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Why are they waiting until the last minute? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 13,554 Location: nairobi
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VituVingiSana wrote:Why are they waiting until the last minute? Saving the best for last..
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: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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On this day, C.F.C Stanbic traded at 92/-. Next target, 100/-. 2014, am watching you keenly! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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dunkang wrote:On this day, C.F.C Stanbic traded at 92/-. Next target, 100/-. 2014, am watching you keenly! To paraphrase @obiero..... This share will make me rich. IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Member Joined: 11/1/2013 Posts: 257
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If this stock was a facebook status....i would have liked No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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It's simple. Do not sell. If you sell, then do not complain. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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VituVingiSana wrote: It's simple. Do not sell. If you sell, then do not complain. Indeed. Its a cheap share to have in ones basket #MakingMoney2014
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Rank: New-farer Joined: 10/10/2010 Posts: 51 Location: Nairobi
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mwekez@ji wrote:VituVingiSana wrote: It's simple. Do not sell. If you sell, then do not complain. Indeed. Its a cheap share to have in ones basket #MakingMoney2014 what is the indicative price for Q1
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Rank: New-farer Joined: 12/27/2013 Posts: 87
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How long does it take for new law to be effective. Anyone with a clue. GOOD TO GREAT. KINGOTORE
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Eps should be around the 13bob mark. PE 10 should be 130. DCF shows 139
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CFC Stanbic Bank Q3 2013 PAT rise 52%
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