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Listed banks H1 results - Profits continue to grow!
youcan'tstopusnow
#201 Posted : Sunday, July 24, 2011 9:01:12 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
obiero, 7 Billion?

Equity made 2.9 Billion in Q1
KCB made 2.5 Billion in Q1

You really expect them to make that much more in Q2 than they did in Q1 with the current economic environment?
GOD BLESS YOUR LIFE
youcan'tstopusnow
#202 Posted : Sunday, July 24, 2011 9:06:27 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Near Madaraka/Nairobi West side, there were some 2 agents who had set up an Equity agency. Then a few weeks later, Equity decides to open a branch between the 2 of them. Call that a sucker punch. Mind you, they are within a stone's throw of each other. Maybe they should advise people on whether they are going to open branches near them. I doubt those guys are doing much business now. Labda at night/Sundays
GOD BLESS YOUR LIFE
Cde Monomotapa
#203 Posted : Sunday, July 24, 2011 9:20:08 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Thanx @QW & @YCSUN. Are those Mada guys still operating..that's a weird position to be in. @deal, we r all aware of the concept/idea behind Agency what we want are practical experiences. Have u heard of any?
mwanahisa
#204 Posted : Monday, July 25, 2011 8:33:21 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
@Obiero. Then prepare for disaster. 7 B H1 PBT for either KCB or EB will not be achieved. BTW, how did you did you come up with such an (unrealistic) expectation?
obiero
#205 Posted : Monday, July 25, 2011 8:56:36 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,249
Location: nairobi
mwanahisa wrote:
@Obiero. Then prepare for disaster. 7 B H1 PBT for either KCB or EB will not be achieved. BTW, how did you did you come up with such an (unrealistic) expectation?

ha ha. pls dont call it unrealistic! KCB management made it clear at the AGM that they aim to deliver a FY PBT of 15B. Simple math guides me to the conclusion that H1 should atleast be close to half of 15B.

mwanahisa
#206 Posted : Monday, July 25, 2011 9:05:21 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
@Obiero. OK - I get your reasoning behind the 7 B projection.

But consider this...

In Q1 2011, KCB made a PBT of 2.5B, so to get to 7B, they would have to do 4.5B in Q2 alone, a jump of 80% in 3 short months. Does that sound realistic or a flight of fancy, knowing KCB's track record and current economic conditions?
mwanahisa
#207 Posted : Monday, July 25, 2011 9:18:43 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Equity Bank's Q2 results are basically flat vis-a-vis Q1. This will not augur too well for the others especially coupled with the news of power rationing looming.

However, should Equity's 2nd half be maintained at the same level as H1, that will still be a 30% growth in profits for the year. In many economies, that would be considered a commendable performance!
Renegade
#208 Posted : Monday, July 25, 2011 11:21:49 AM
Rank: Member

Joined: 4/18/2009
Posts: 118
Angalau, KCB and others wont look so bad when they post 20% growth.
Cde Monomotapa
#209 Posted : Monday, July 25, 2011 11:27:23 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Renegade wrote:
Angalau, KCB and others wont look so bad when they post 20% growth.

Laughing out loudly Laughing out loudly
mwanahisa
#210 Posted : Monday, July 25, 2011 1:10:05 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
According to Business Daily, KCB will be quickly following in Equity's footsteps to release their results tomorrow. Given that the folks at KCB are not too fond of waking up early, I expect that their results will be out after the market closes in the afternoon.
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