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Q3 2010 Bank's Reporting Season
Rank: Elder Joined: 6/2/2008 Posts: 1,438
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Bank's reporting season is officially here with us. Giro Bank (sorry it's not listed) has kicked this off with a 416% increase in PBT and 490% in PAT. See Page 19 of the Daily Nation- Oct 15th.
Most of the the growth is from other income. Wonder exactly what these guys are doing? For many folks who may not know Giro Bank is associated with the Gidoomals who also call the shots at Car & General. They have been quietly growing profits at a nice clip there over the last 5 years.
We now await the big boys, Equity, KCB, SCBK, BBK, Co-op etc. Who do you think among the listed banks will be first to the tape? Any predictions on EPS?
I will venture my EPS on Equity at approximately Kshs 1.40 for the first nine months of the year. This will be about 54% growth over last year. Note that this is an informed guestimate, so believe it at your own peril.
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Rank: Chief Joined: 1/3/2007 Posts: 18,212 Location: Nairobi
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Other Income = Bonds... IMHO... Every Tom, Dick & Harry has been playing the Bond Market... Who is the sucker buying??? I have to say I was surprised that they reported so fast! Within 15 days is top notch stuff - even if unaudited! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 12/31/2008 Posts: 90
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Bring them on. We are gonna have a party..fiesta..karamu (*10.)
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Rank: Veteran Joined: 8/11/2010 Posts: 1,011 Location: nairobi
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what date did equity and diamond report last year.
In addition when we say Q3 results does it mean period 1st july to 30th sept. Only or from 1st jan to 30th sep.
For H1 does it include from 1st jan to 30thjune.
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Rank: Member Joined: 12/31/2008 Posts: 90
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I say the market is already gearing up for the results. HF, DTK and NIC have hit multi year highs.
Others will follow.
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Rank: Chief Joined: 1/3/2007 Posts: 18,212 Location: Nairobi
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@bartum Q3 for banks means 1 Jul - 30 Sep Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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bartum wrote:what date did equity and diamond report last year.
In addition when we say Q3 results does it mean period 1st july to 30th sept. Only or from 1st jan to 30th sep.
For H1 does it include from 1st jan to 30thjune. Actually, I was using the term Q3 to mean the 9 months period ending 30th Sept 2010 which of course includes the latest (July-Sept) quarter. Likewise for H1. In my context - It is Jan to June. VVS is right in terms of strict interpretation. Last year Equity reported on 26th Oct while DTB did so on 12th November. Over to y'all.
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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@Bartum for last year,Equity announced Q3 results on 26.10.2009 while DTK had theirs released on 12.11.2009 @SufficientlyP
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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@ Mwanahisa, thanks for outdoing me on the release dates, or should i say outrunning, now that we as Kenyans seem to be scoopin all the running awards in Delhi!lol @SufficientlyP
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Rank: Veteran Joined: 7/24/2008 Posts: 781
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a lot of money will be made in banks...the trick is to know when to get out...and not to be infected with over-enthusiasm. The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Rank: Chief Joined: 1/3/2007 Posts: 18,212 Location: Nairobi
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sheep wrote:a lot of money will be made in banks...the trick is to know when to get out...and not to be infected with over-enthusiasm. That goes for any of the stocks/shares! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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Sufficiently Philanga....thropic wrote:
@ Mwanahisa, thanks for outdoing me on the release dates, or should i say outrunning, now that we as Kenyans seem to be scoopin all the running awards in Delhi!lol
No worries SPT (your name is too long). At least our data is consistent. I like keeping tabs on these things. It enables me to enter and exit in a timely manner.
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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mwanahisa wrote:Sufficiently Philanga....thropic wrote:
@ Mwanahisa, thanks for outdoing me on the release dates, or should i say outrunning, now that we as Kenyans seem to be scoopin all the running awards in Delhi!lol
No worries SPT (your name is too long). At least our data is consistent. I like keeping tabs on these things. It enables me to enter and exit in a timely manner. SP would be god enough! jus wondering how what you are looking at in terms of KCB'c 9 months 2010 vs 9 months 2009. I'm looking at 22.78% growth. Would you say the same! @SufficientlyP
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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Sufficiently Philanga....thropic wrote:
SP would be god enough! jus wondering how what you are looking at in terms of KCB'c 9 months 2010 vs 9 months 2009. I'm looking at 22.78% growth. Would you say the same!
SP, my guestimate is 25.7% growth in Profits After Tax. This is based on 3rd Qtr being just as good as Q2. I do not think Q3 grew much relative to Q2 as KCB did not have the funds from the rights until August. They were stretched pretty thin on CBK prudential ratios until after the rights money came through. Top Mgt would also have spent plenty of time and effort on ensuring the success of the rights issue. Q4 is usually a problem with KCB due to provisions (that always seem to spring out of the woodwork). This time round I hope there will be no nasty surprises. Should that be the case, touchwood, we could then see 40% growth in full year PAT . For risk control, I would say 25% would be a reasonable expectation. How do you come up with your 22.78%? What item are you looking at, PBT or EPS?
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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PKoli wrote:I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results I think people already have very high expectations for DTB, CFC, HF and EQUITY as you've said. The same cannot be said of KCB. If it manages above 25% growth, that will be fantastic in its own right and more investors will certainly take more notice of this behemoth GOD BLESS YOUR LIFE
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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PKoli wrote:I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results I have a very strong INKLING that KCB will post more than 30% growth in Q3... Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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guru267 wrote:PKoli wrote:I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results I have a very strong INKLING that KCB will post more than 30% growth in Q3... That will really excite the market and will pull KCB to KES 25 or more!
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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guru267 wrote:PKoli wrote:I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results I have a very strong INKLING that KCB will post more than 30% growth in Q3... PBT has come in at 23% higher than last year. I have yet to see the PAT figures but it looks like your inkling was a little off.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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mwanahisa wrote:guru267 wrote:PKoli wrote:I think the exciting Q3 results will come from:
DTB, CFC, HF, Equity - KCB should record modest results I have a very strong INKLING that KCB will post more than 30% growth in Q3... PBT has come in at 23% higher than last year. I have yet to see the PAT figures but it looks like your inkling was a little off.  yeah i Know i know we can't be always right... But at least MOO says they are on track to meet their target of 9billion PBT... If you noticed their Q3 PBT of 6.5billion is more than 2009 FY PBT of 6.3billion Mark 12:29
Deuteronomy 4:16
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