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NBK's Q1 2011 results the worst of the lot
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Intelligentsia
#11 Posted : Tuesday, May 24, 2011 12:11:43 PM
Rank: Elder

Joined: 10/1/2009
Posts: 2,436
invest0r wrote:
@selah, the recognised loss due to revaluation of government securities held for dealing purposes cannot be KES10B. The government securities held for dealing purposes have decreased from 10,788,688,000 (Dec2010) to 10,052,477,000 (Mar 2011). This is 736M decline and they must have traded some securities and transfered others to 'Held To Maturity'.


very true, rising interest rates always subdue the bond markets and many banks and institutional investors are shifting their portfolios from HFT (trading) to HTM portfolios. So I expect NBK's HFT portfolio to be nil, and I don't expect them to make any losSes on their bond portfolio this year if they maintain their bond portfolio within their investment book (HTM).
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drake
#12 Posted : Tuesday, May 24, 2011 1:26:50 PM
Rank: Member

Joined: 8/8/2009
Posts: 170
Intelligentsia wrote:
invest0r wrote:
they must have traded some securities and transfered others to 'Held To Maturity'.


very true, rising interest rates always subdue the bond markets and many banks and institutional investors are shifting their portfolios from HFT (trading) to HTM portfolios. So I expect NBK's HFT portfolio to be nil, and I don't expect them to make any losSes on their bond portfolio this year if they maintain their bond portfolio within their investment book (HTM).


1. You can't do this willy-nilly...
2. Especially not with FVTPL!
3. How come nobody is talking about Insurance companies (& pension funds), are they that diversified?
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Ericsson
#13 Posted : Tuesday, May 24, 2011 2:22:24 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
Smart Move by NSSF in asking for more representaion in the board of NBK.
NBK needs a new management and the face of Kenya in its board.
Majority of the board is made up of meru Community who do not hold majority shareholding
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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the deal
#14 Posted : Tuesday, May 24, 2011 2:25:49 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Ericsson wrote:
Smart Move by NSSF in asking for more representaion in the board of NBK.
NBK needs a new management and the face of Kenya in its board.
Majority of the board is made up of meru Community who do not hold majority shareholding

NSSF having more seats on the board will delay the sell of NBK...
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selah
#15 Posted : Tuesday, May 24, 2011 2:36:17 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
the deal wrote:
Ericsson wrote:
Smart Move by NSSF in asking for more representaion in the board of NBK.
NBK needs a new management and the face of Kenya in its board.
Majority of the board is made up of meru Community who do not hold majority shareholding

NSSF having more seats on the board will delay the sell of NBK...


How did you come up with that?all that I know the Govt will be offloading its share I dont think NSSF can stand on its way if the govt gets a strategic investor unless there are govt guarantees which needs to be paid.
'......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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Ericsson
#16 Posted : Tuesday, May 24, 2011 2:49:05 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
I am talking about the situation as it is now.
Govt will not be offloading its shareholding in NBK now that it is very profitable.
Instead it will do a KPLC style whereby it will convert the preferential shares to ordinary shares then do a rights issue to slightly dilute its shareholding.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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the deal
#17 Posted : Tuesday, May 24, 2011 3:17:02 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
selah wrote:
the deal wrote:
Ericsson wrote:
Smart Move by NSSF in asking for more representaion in the board of NBK.
NBK needs a new management and the face of Kenya in its board.
Majority of the board is made up of meru Community who do not hold majority shareholding

NSSF having more seats on the board will delay the sell of NBK...


How did you come up with that?all that I know the Govt will be offloading its share I dont think NSSF can stand on its way if the govt gets a strategic investor unless there are govt guarantees which needs to be paid.


Check out this storo www.businessdailyafrica....2/-/p8unthz/-/index.html
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selah
#18 Posted : Tuesday, May 24, 2011 3:28:25 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@the deal the govt is arm twisting NSSF to sell its stake which I think NSSF is within its rights to refuse since its owned by pensioners Not the Govt.NSSF board of trustees have a responsibility to pensioners to make sure their investments are protected from government filthy hands.

THe govt Should sell its 22% shareholding which is not in dispute.
'......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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invest0r
#19 Posted : Tuesday, May 24, 2011 4:10:33 PM
Rank: Member

Joined: 12/15/2010
Posts: 162
drake wrote:
Intelligentsia wrote:
invest0r wrote:
they must have traded some securities and transfered others to 'Held To Maturity'.


very true, rising interest rates always subdue the bond markets and many banks and institutional investors are shifting their portfolios from HFT (trading) to HTM portfolios. So I expect NBK's HFT portfolio to be nil, and I don't expect them to make any losSes on their bond portfolio this year if they maintain their bond portfolio within their investment book (HTM).


1. You can't do this willy-nilly...
2. Especially not with FVTPL!
3. How come nobody is talking about Insurance companies (& pension funds), are they that diversified?


@drake, Elaborate in simple language
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