Cde Monomotapa wrote:kenyainvestor wrote:The profit growth is almost identical to Equity's. Both PAT and PBT separated by just 0.8%, with KCB taking the lead.
Seems like the Full Year figures will be a photo finish
Please note that Equity is still enjoying the preferential 20% corporate tax c/o listing which should end this year while KCB has been paying 30%.
Of course. I remember a while back guys were asking why we compared the 2 mostly on Pre-Tax profit
Subsidiaries continued their positive contribution to the Group business. They made Kshs. 400 Million more in Profit Before Tax than they made at this time last year, validating the managements decision to use some of the Rights Issue money on giving them much needed boosts
KCB’s Non-Interest Income was buoyed by a 47.9% increase in its Fees and Commissions to Kshs. 6.9 Billion. Fees and Commissions now account for 67.3% of its Total Non-Interest Income
Since the last 3 months, the tables have been turned and it is now Equity who trail KCB in Profit Before Tax by a figure of around Kshs. 100 Million. At Half Year, KCB trailed Equity by a similar figure and at 1st Quarter 2011, it stood at Kshs. 390 Million
LINK:
KENYA COMMERCIAL BANK POSTS 40% JUMP IN 9 MONTH PROFIT BEFORE TAX