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the deal
#3751 Posted : Tuesday, July 02, 2013 9:31:57 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
The cost of funds for CFC in Q1 2013 was 0.66%...Annualised Cost of funds 2.64% Lending rate 13.5% Net Interest Margin a whopping 10.86%!!! Add on top fees earned on new loans then H2 2013 and 2014 is looking good...everybody say Full Service Bank!!!!smile
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hisah
#3752 Posted : Tuesday, July 02, 2013 11:06:53 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
VAT shocker hits investors - http://www.businessdaily...8/-/gwsnkj/-/index.html

Very ill thought this tax idea just like the mobile money excise duty. This one will squeeze out retail volume leaving brokers with diminished commish. Markets need wanjikus turnover otherwise no growth...

#TaxEverything - the new gubberment worldwide motive?!? d'oh!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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symbols
#3753 Posted : Tuesday, July 02, 2013 11:41:13 PM
Rank: Elder

Joined: 3/19/2013
Posts: 2,552
TransCentury to gain from State’s buy-local drive

Quote:
This means that East African Cables, which is owned 68.3 per cent by TransCentury, has been guaranteed a market from government-owned power firms like Kenya Power and Kenya Electricity Transmission Company (Ketraco).
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murchr
#3754 Posted : Tuesday, July 02, 2013 11:49:00 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
symbols wrote:
TransCentury to gain from State’s buy-local drive

Quote:
This means that East African Cables, which is owned 68.3 per cent by TransCentury, has been guaranteed a market from government-owned power firms like Kenya Power and Kenya Electricity Transmission Company (Ketraco).


I like TC but the PE is high yawa and cables the EPS is kidogo...greed is good
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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mwekez@ji
#3755 Posted : Tuesday, July 02, 2013 11:51:39 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
The cost of funds for CFC in Q1 2013 was 0.66%...Annualised Cost of funds 2.64% Lending rate 13.5% Net Interest Margin a whopping 10.86%!!! Add on top fees earned on new loans then H2 2013 and 2014 is looking good...everybody say Full Service Bank!!!!smile


Net Interest Margin = Yield on interest earning assets (%) - Cost of interest bearing liabilities (%)

At Q1 2013,

Yield on interest earning assets = 10.9%
Cost of interest bearing liabilities = 2.8%
Net Interest Margin = 10.9% - 2.8% = 8.1%

Notice that "Lending Rate" is not the same as "Yield on interest earning assets" because we have bills and bonds in the class of interest earning assets
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hisah
#3756 Posted : Wednesday, July 03, 2013 7:22:47 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Egypt - not looking good at all. KE exporters trading with Egypt will experience a revenue squeeze like back in 2011. An unstable Egypt is bad news for the middle east region with immediate effect being high oil prices.

If oil spikes back to $120/BB & KE passes that VAT bill as it is, inflation esp on food will pop its ugly head again. As usual equities will nosedive.

And I hope that VAT proposal on equity transations is scrapped. That will definitely squeeze volumes in the market. The market thrives on volume (liquidity). Drain the volumes and market deflates. Some of these tax proposals are just crazy to say the least.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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the deal
#3757 Posted : Wednesday, July 03, 2013 9:32:10 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
the deal wrote:
The cost of funds for CFC in Q1 2013 was 0.66%...Annualised Cost of funds 2.64% Lending rate 13.5% Net Interest Margin a whopping 10.86%!!! Add on top fees earned on new loans then H2 2013 and 2014 is looking good...everybody say Full Service Bank!!!!smile


Net Interest Margin = Yield on interest earning assets (%) - Cost of interest bearing liabilities (%)

At Q1 2013,

Yield on interest earning assets = 10.9%
Cost of interest bearing liabilities = 2.8%
Net Interest Margin = 10.9% - 2.8% = 8.1%

Notice that "Lending Rate" is not the same as "Yield on interest earning assets" because we have bills and bonds in the class of interest earning assets

Net Interest margin on new loans issued at 13.5% thats what I was calculating...Cost of funds (expenses on customer deposits/customer deposits X 100)....I didnt include things like yield on bonds....and other interest expenses in my calculation of cost of funds....
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mwekez@ji
#3758 Posted : Wednesday, July 03, 2013 9:55:31 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
mwekez@ji wrote:
the deal wrote:
The cost of funds for CFC in Q1 2013 was 0.66%...Annualised Cost of funds 2.64% Lending rate 13.5% Net Interest Margin a whopping 10.86%!!! Add on top fees earned on new loans then H2 2013 and 2014 is looking good...everybody say Full Service Bank!!!!smile


Net Interest Margin = Yield on interest earning assets (%) - Cost of interest bearing liabilities (%)

At Q1 2013,

Yield on interest earning assets = 10.9%
Cost of interest bearing liabilities = 2.8%
Net Interest Margin = 10.9% - 2.8% = 8.1%

Notice that "Lending Rate" is not the same as "Yield on interest earning assets" because we have bills and bonds in the class of interest earning assets

Net Interest margin on new loans issued at 13.5% thats what I was calculating...Cost of funds (expenses on customer deposits/customer deposits X 100)....I didnt include things like yield on bonds....and other interest expenses in my calculation of cost of funds....

Cheers ... CFC is making good money smile
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  | | Edit by user: Wednesday, July 03, 2013 10:05 AM | Reason: Not specified
the deal
#3759 Posted : Wednesday, July 03, 2013 10:07:59 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
the deal wrote:
mwekez@ji wrote:
the deal wrote:
The cost of funds for CFC in Q1 2013 was 0.66%...Annualised Cost of funds 2.64% Lending rate 13.5% Net Interest Margin a whopping 10.86%!!! Add on top fees earned on new loans then H2 2013 and 2014 is looking good...everybody say Full Service Bank!!!!smile


Net Interest Margin = Yield on interest earning assets (%) - Cost of interest bearing liabilities (%)

At Q1 2013,

Yield on interest earning assets = 10.9%
Cost of interest bearing liabilities = 2.8%
Net Interest Margin = 10.9% - 2.8% = 8.1%

Notice that "Lending Rate" is not the same as "Yield on interest earning assets" because we have bills and bonds in the class of interest earning assets

Net Interest margin on new loans issued at 13.5% thats what I was calculating...Cost of funds (expenses on customer deposits/customer deposits X 100)....I didnt include things like yield on bonds....and other interest expenses in my calculation of cost of funds....


Cool ... CFC is making good money smile

Note that there was a sharp drop in customer deposit expenses in Q1 2013 this must be due to the strong adoption of the banks new current and saving accounts by new and existing clients...seen those billboards? In that case we can say the bank gained a competitive advantage over other banks...so others must watch out...CFC means business....at 13.5% very few folks will also default...so the bank gets to grow its loan book at double digits without compressing its margins...I think its fundamental...
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dunkang
#3760 Posted : Wednesday, July 03, 2013 10:08:25 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
mwekezaji wrote:
Cool ... CFC is making good money

These guys are on viagra this year!
Receive with simplicity everything that happens to you.” ― Rashi

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