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NIC BANK H1 2011 RESULTS
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FUNKY
#1 Posted : Thursday, August 18, 2011 11:37:05 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
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FUNKY
#2 Posted : Thursday, August 18, 2011 11:41:15 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
Pre tax profits jump by 33 percent driven by growth in loans and net interest income.
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muganda
#3 Posted : Thursday, August 18, 2011 11:43:16 AM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Aheem! These final few banks should do the necessary this and next week.
http://af.reuters.com/article/i...ws/idAFJOE77H05D20110818

NIC Bank shows growth of 33% on the back of exactly equal growth in net loans and advances, net interest income -- effeciency, I see.

EPS rose to 2.65. Does this mean a forward PE of 6.3 at today's price of 33.50? This is like the cheapest bank on the block at the moment.
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  | | Edit by moderator: Thursday, August 18, 2011 11:47 AM | Reason: topics merged
FUNKY
#4 Posted : Thursday, August 18, 2011 11:52:03 AM
Rank: Veteran

Joined: 4/30/2010
Posts: 1,635
@ muganda - i agree with you,NIC bank is a good buy at the current price.
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Cde Monomotapa
#5 Posted : Thursday, August 18, 2011 12:06:17 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Interesting.
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selah
#6 Posted : Thursday, August 18, 2011 12:16:47 PM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.
'......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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Cde Monomotapa
#7 Posted : Thursday, August 18, 2011 2:08:11 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
The div.yield is unattractive though.especially at 3,500* points.
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the deal
#8 Posted : Thursday, August 18, 2011 2:35:16 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
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mkonomtupu
#9 Posted : Thursday, August 18, 2011 3:32:32 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
@deal why do you think economy will go in to a tail spin so soon. I think the companies associated with the anchor shareholders will bring liquidity to NIC
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Sober
#10 Posted : Thursday, August 18, 2011 4:01:22 PM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
@selah, i waited for the 30-32 range but i gave up and recouped the shares that i had sold at 42 at the price of 33.00 i dont see the releaase of resilts impacting on the price this week.
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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