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Barclays Bank Kenya H1 pre-tax profit up 13pc
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kenyainvestor
#21 Posted : Wednesday, August 03, 2011 4:29:01 PM
Rank: Member

Joined: 7/12/2011
Posts: 194
mkonomtupu wrote:
they should shed off that elitist tag or they will just fade, the business dynamics are changing so fast with new entrepreneurs emerging and stories like how they pursued and sold matiba's assets don't help them either


With no regional subsidiaries to insulate against the tough Kenyan economic environment, 2H might be worse
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Sober
#22 Posted : Wednesday, August 03, 2011 4:45:48 PM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
Profit after tax slumped to Sh3.64 billion in the period under review down from Sh3.71 booked over a similar period last year. does it place the other banks at a better position in future?
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Barrywhite
#23 Posted : Wednesday, August 03, 2011 4:56:36 PM
Rank: Member

Joined: 12/2/2009
Posts: 286
Location: Nairobi
There is no apparent strategy from BBK to turn things around from this downward spiral. And assets to be sold are becoming less and less; operating costs have been cut to the bone; customer deposits are stagnant; the potential customer base for expansion is aggrieved by past corporate behaviour, BBK is in for one hell of a downward ride. I dont see them sustaining H1 perfromance in H2. Co-op is looking like they deserve that position 3 because they have strong roadmaps for future growth.
The laudable is more often than not rendered laughable by overclaim
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young
#24 Posted : Wednesday, August 03, 2011 5:41:01 PM
Rank: Elder

Joined: 6/20/2007
Posts: 2,075
Location: Lagos, Nigeria
kenyainvestor wrote:
Funny how management term customer deposits as "stable" as if it is a good thing. BBK's peers are experiencing a rise in customer deposits while all they can deliver is a 1.6% decline. "Mice" should jump from this ship

For a comprehensive analysis of the results check out my blog

LINK: BARCLAYS BANK OF KENYA HALF YEAR 2011 RESULTS ANALYSIS



Nice analysis from your blog as usual especially this one With no more custodial businesses to sell, investors might be forgiven for scampering for safety.

I have noticed the dismal performance but the interim dividend increased marginally from last years 0.75 to 0.80 (4 to 1 split). This is also a paltry 6% increase in interim dividend. As you said dividend is my game, but I still keep a distant eye on growth.

I will still wait for FY to decide might be to switch fully to another finance counter with a view to selling off to take more stake in Jubilee or Stanchart. My allocation for banking stocks is strictly for banking stocks and I have had enough of KCB and Equity but there is more room for Jub or Stanchart from my finance sector allocation formula.

Btw I would like to see your analysis on NMG H1 result
if that is your usual practice without going out of your way ?

Regards
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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  | | Edit by user: Wednesday, August 03, 2011 6:06 PM | Reason: Not specified
Gadaffi
#25 Posted : Wednesday, August 03, 2011 6:33:23 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
githundi wrote:
My advise to those have either BBK or SCBK; sell and buy stocks with more upside potential.

i totally disagree wit this view. bbk shareholders r considered as 'serious' investors. most of the shareholders who hv invested in bbk hv done so bcoz of th goodwill and perceived stability unlike other banks such as eqty. most eqty shareholders r irrational n easily influenced by herd behaviour n comprise of th 'wanjiku's.
i project the share price of bbk 2 continue being stable n th best stock 2 hold mostly in current economic times.
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the deal
#26 Posted : Wednesday, August 03, 2011 6:57:38 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I wouldnt dismiss BBK just yet...with all those cuts cost to income ratio is still 57%...so still room for more cuts..
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Gadaffi
#27 Posted : Wednesday, August 03, 2011 7:41:53 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
I expect bbk 2 cut staff costs furthur targeting th mid n low level employees.tis wil form part of its long term strategy of bankin on its new IT system in service delivery
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Cde Monomotapa
#28 Posted : Wednesday, August 03, 2011 7:50:58 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Gadaffi wrote:
I expect bbk 2 cut staff costs furthur targeting th mid n low level employees.tis wil form part of its long term strategy of bankin on its new IT system in service delivery

That's swell and how about on the business front?
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Cde Monomotapa
#29 Posted : Wednesday, August 03, 2011 7:53:03 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Cde Monomotapa wrote:
Gadaffi wrote:
I expect bbk 2 cut staff costs furthur targeting th mid n low level employees.tis wil form part of its long term strategy of bankin on its new IT system in service delivery

That's swell and how about on the business front?

Or will it be higher bank charges.
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kenyainvestor
#30 Posted : Wednesday, August 03, 2011 8:30:23 PM
Rank: Member

Joined: 7/12/2011
Posts: 194
young wrote:
kenyainvestor wrote:
Funny how management term customer deposits as "stable" as if it is a good thing. BBK's peers are experiencing a rise in customer deposits while all they can deliver is a 1.6% decline. "Mice" should jump from this ship

For a comprehensive analysis of the results check out my blog

LINK: BARCLAYS BANK OF KENYA HALF YEAR 2011 RESULTS ANALYSIS



Nice analysis from your blog as usual especially this one With no more custodial businesses to sell, investors might be forgiven for scampering for safety.

I have noticed the dismal performance but the interim dividend increased marginally from last years 0.75 to 0.80 (4 to 1 split). This is also a paltry 6% increase in interim dividend. As you said dividend is my game, but I still keep a distant eye on growth.

I will still wait for FY to decide might be to switch fully to another finance counter with a view to selling off to take more stake in Jubilee or Stanchart. My allocation for banking stocks is strictly for banking stocks and I have had enough of KCB and Equity but there is more room for Jub or Stanchart from my finance sector allocation formula.

Btw I would like to see your analysis on NMG H1 result
if that is your usual practice without going out of your way ?

Regards


@young, why wait for the year to end? Are you expecting BBK to grow faster than Equity, KCB, or Co-op?

Its like you are on the Titanic, it's going down, yet saying, let it sink a bit further so that I get out. Bolt! my Nigerian brother
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FACEBOOK: Kenya Investing
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  | | Edit by user: Wednesday, August 03, 2011 8:40 PM | Reason: Not specified
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