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DTB Diamond Trust Bank FY2010 results
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selah
#21 Posted : Thursday, March 10, 2011 2:38:16 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
DTB insider lending is quite interesting the chunk of it goes to directors,shareholders and associates while employees take a very small portion of it.This is a very selfish bank.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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VituVingiSana
#22 Posted : Thursday, March 10, 2011 2:47:17 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
selah wrote:
DTB insider lending is quite interesting the chunk of it goes to directors,shareholders and associates while employees take a very small portion of it.This is a very selfish bank.
NONSENSE...

Stop being malicious for no reason!

DTBK is part of the Aga Khan Group [thus associates or related firms or majority shareholder] which do business [including loans] at MARKET [or close to] RATES...

These same firms give DTBK lots of transactional business...

Employees get low rates [as a perk] but there are limits to how much you want to lend to employees. If DTBK has to fire them, how will they repay the loans?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Genghis Khan
#23 Posted : Thursday, March 10, 2011 2:58:37 PM
Rank: Member

Joined: 8/5/2010
Posts: 335
Location: Nairobi
mwanahisa wrote:
selah wrote:
@mwanahisa I think COOP strategy of co-owning its SS operation with the government will give it an upper hand given that pple tend to be loyal to brands thats are locally owned.


No doubt about that. My contention is that even if Coop goes and makes 400 million like Equity did in 2010 that will only be about 10% of total profits which will not change its outlook materially.

I like Coop, but in my view it has underperformed its peers - Equity and KCB, hence I would only buy it at comparable PEs - higher than KCB but lower than Equity Bank.


I dont follow... pls explain
"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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  | | Edit by user: Thursday, March 10, 2011 3:00 PM | Reason: Not specified
selah
#24 Posted : Thursday, March 10, 2011 3:02:28 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@VVS i agree with you that some of its associates bring good business but still looking at the amount they get in lending its quite huge given that most of the loans are subsidized.

sometime last year BD africa listed DTB as one of the companies that pay its director huge salaries and looking at the insider loans I am convinced this Bank is Selfish.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Genghis Khan
#25 Posted : Thursday, March 10, 2011 3:02:50 PM
Rank: Member

Joined: 8/5/2010
Posts: 335
Location: Nairobi
VituVingiSana wrote:
@selah - Could be bond trading income but not specified since CBK does not require breakdown. I expect this will change in future years.

The Annual Report may have more - when it is released.


If I am not wrong, their bond portfolio has consistently remanied under 1B. 100% return from trades?
"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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VituVingiSana
#26 Posted : Thursday, March 10, 2011 3:16:14 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
selah wrote:
@VVS i agree with you that some of its associates bring good business but still looking at the amount they get in lending its quite huge given that most of the loans are subsidized.

sometime last year BD africa listed DTB as one of the companies that pay its director huge salaries and looking at the insider loans I am convinced this Bank is Selfish.
NONSENSE... Again!

Employees get salaries. Plus bonuses. Plus perks. Cheap loans are a perk but NOT a right!!! DTBK would be remiss [plus silly] to loan to employees 'excessive' amounts at a VERY LOW rate!

As for 'associates'... they may get a discount but these siblings have grown up together! Look at Serena/TPSEA or Nation...

Erm, as for salaries... actually you need to put numbers on the table vs performance! Please use Equity, Stanchart & BBK as comparisons...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwanahisa
#27 Posted : Thursday, March 10, 2011 3:35:30 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
selah wrote:
@VVS i agree with you that some of its associates bring good business but still looking at the amount they get in lending its quite huge given that most of the loans are subsidized.

sometime last year BD africa listed DTB as one of the companies that pay its director huge salaries and looking at the insider loans I am convinced this Bank is Selfish.


I have shares in DTB, so you can interpret my defence of the company any way you like. Management clarified that the amount cited by BDAfrica included compensation to key management figures hence the conclusion that Directors were being paid too much was pure hogwash.

I am a keen follower of the Aga Khan companies and attend most of their AGMs and I can attest that their Directors' fees are some of the lowest on the market. In the case of Jubilee for example the Chairman does not even receive a fee!
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  | | Edit by user: Thursday, March 10, 2011 9:34 PM | Reason: Not specified
VituVingiSana
#28 Posted : Thursday, March 10, 2011 3:38:54 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,356
Location: Nairobi
I invest in every IPO or Rights for Aga Khan firms! I trust them. Slow & steady. Compare them to merali [NEVER] or akina that wamae of olympia or somens of Access
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#29 Posted : Thursday, March 10, 2011 9:30:11 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Aguytrying wrote:
Where are the mafans wa dtb. These are amazing results not the 100 percent everyone was expecting, but look at the bonus. I almost did a backflip- which i cant do. Guru u were right about the bonus. Results have come out at a bad time. I think the share will hold. Whether i sell for capital gains or not and get the bonus. Win win.

Mafans tuko hapa. You could not be more right that the results came out at a bad time. Je, wangerelease mapema kama Barclays? Maybe we would have seen a 160. I hope it stays above 100 after the bonus shares start trading.
GOD BLESS YOUR LIFE
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Aguytrying
#30 Posted : Friday, March 11, 2011 1:00:49 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
youcan'tstopusnow wrote:
Aguytrying wrote:
Where are the mafans wa dtb. These are amazing results not the 100 percent everyone was expecting, but look at the bonus. I almost did a backflip- which i cant do. Guru u were right about the bonus. Results have come out at a bad time. I think the share will hold. Whether i sell for capital gains or not and get the bonus. Win win.

Mafans tuko hapa. You could not be more right that the results came out at a bad time. Je, wangerelease mapema kama Barclays? Maybe we would have seen a 160. I hope it stays above 100 after the bonus shares start trading.


20% dilution at 135 is 108. book closure is may 20th, i expect activity (upward) before then. Best case scenario,middle east conflicts subside, fuel prices stabilize. that should be enough. Infact the lower it goes now, the sweater the deal for those who will be buying.
The investor's chief problem - and even his worst enemy - is likely to be himself
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