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NIC Group FY14 results profit before tax up 24%
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Pesa Nane
#1 Posted : Wednesday, March 04, 2015 12:12:44 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
NIC Group FY14 Summary

Loans and advances Ksh. 11,369Mn Vs 9,604

Interest Income Ksh. 13,711Mn Vs 11,642

Interst Expense Ksh. 5,712Mn Vs4,374

Net Interest Income Ksh. 7,998Mn Vs 7,268

Non Interest Income Ksh. 3,573 Vs 3,218

Operating Income Ksh. 11,571 Vs 10,486

Total opearating Expense Ksh. 5,340Mn Vs 5,477

PBT Ksh. 6,230Mn Vs 5,009

PAT Ksh. 4,117 Vs 3,237

smile Applause
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#2 Posted : Wednesday, March 04, 2015 12:17:15 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
First And Final Div = Ksh. 1.00 on 20 May 2015. Closure 10 April 2015
Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#3 Posted : Wednesday, March 04, 2015 12:19:49 PM
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Pesa Nane plans to be shilingi when he grows up.
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Pesa Nane
#4 Posted : Wednesday, March 04, 2015 12:23:21 PM
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Pesa Nane
#5 Posted : Wednesday, March 04, 2015 12:25:39 PM
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Pesa Nane
#6 Posted : Wednesday, March 04, 2015 12:28:04 PM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
AGM: Kenyatta International Conference Centre (KICC) –
Tsavo Ball Room, Nairobi, on Wednesday 20th May, 2015 at 11.00a.m.
Pesa Nane plans to be shilingi when he grows up.
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mwekez@ji
#7 Posted : Wednesday, March 04, 2015 12:30:52 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
smile ... and the recent rights issue will further sweeten the performance going forward
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mkonomtupu
#8 Posted : Wednesday, March 04, 2015 2:26:40 PM
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Joined: 2/10/2010
Posts: 1,001
Location: River Road
No bonus? i have come to expect bonus from this counter every year
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muganda
#9 Posted : Wednesday, March 04, 2015 2:50:19 PM
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Joined: 9/15/2006
Posts: 3,901
Oh, wondered what happened with these results from half year, when before tax gain was up just 10%.

Ans: Expensed loan loss provision down 70% vs a 10% decline in total non-performing loans. But NPL ratio has still improved 8 perc. points - the boost must have come from a recovery of a loan.
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Aguytrying
#10 Posted : Wednesday, March 04, 2015 2:50:33 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
mkonomtupu wrote:
No bonus? i have come to expect bonus from this counter every year


I looked back and realised the year after the rights issue in 2012 they did not issue a bonus, so it should resume next year. I really like the way this company does its share actions. sooo shareholder friendly. next reasonable haircut and I'm in.
The investor's chief problem - and even his worst enemy - is likely to be himself
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mkonomtupu
#11 Posted : Wednesday, March 04, 2015 3:24:05 PM
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Joined: 2/10/2010
Posts: 1,001
Location: River Road
Aguytrying wrote:
mkonomtupu wrote:
No bonus? i have come to expect bonus from this counter every year


I looked back and realised the year after the rights issue in 2012 they did not issue a bonus, so it should resume next year. I really like the way this company does its share actions. sooo shareholder friendly. next reasonable haircut and I'm in.


Actually what happened at the 2012 AGM some shareholders told the directors they were sick and tired of bonuses every year. The chairman tried to explain that bonus was better than small dividends because you could sell and gain more but wapi. Looks like the board took the decision to be alternating cash dividends and bonus over the years.
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derick
#12 Posted : Wednesday, March 04, 2015 3:27:03 PM
Rank: Member


Joined: 1/10/2015
Posts: 411
National Bank 2014 profit hit by retrenchment costs - http://www.standardmedia...e/?articleID=2000153611 via @StandardKenya
Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Othelo
#13 Posted : Wednesday, March 04, 2015 3:45:22 PM
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Joined: 1/20/2014
Posts: 3,528
derick wrote:
National Bank 2014 profit hit by retrenchment costs - http://www.standardmedia...e/?articleID=2000153611 via @StandardKenya

Wrong thread boss!!!!!!!!!!!!!!!! NBK Vs NIC d'oh! d'oh! d'oh!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Pesa Nane
#14 Posted : Wednesday, March 04, 2015 6:49:28 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
D&B Commentary:

Quote:
Our view

Operating expenses will remain stable in the long run as Cost
to income ratio is expected to continue declining. The bank
has continued to be watchful over costs, keeping the cost to
income ratio low.

 With the increasing appetite for credit, we expect NIC bank to
grow its loan book more aggressively, with asset financing
driving the growth.

 We expect a recovery in the net interest margin, driven by
both volumes and spreads.

Prudent credit management by NIC bank will continue to drive
down the non-performing loans, thereby widening the bottom
line.


Positive outlook.
Pesa Nane plans to be shilingi when he grows up.
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mwekez@ji
#15 Posted : Wednesday, March 04, 2015 7:03:01 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Genghis Capital Commentary:

Quote:
Outlook: Discounted Multiples, Stoic Capital Buffers.

Following their highly successful KES 2.1 Billion cash call in October in addition to the KES 3 Billion bond proceeds, NIC remains adequately buffered from liquidity crunch with core capital ratio and total capital ratios at 14.4% and 20.9% vis-à-vis industry requirement of 10.5% and 14.5% respectively. The lender’s recent venture into asset leasing will diversify its exposure from the retail segment as they grow their SME book.
The share has reported a gain of 9.6% YTD currently trading at P/E and P/B of 8.91x and 1.78x in comparison to industry’s average of 11.80x and 2.46x- indicative of upside in returns.


#BUY
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VituVingiSana
#16 Posted : Thursday, March 05, 2015 12:02:19 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,054
Location: Nairobi
And this long-tumored NIC/CBA merger???
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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kasibitta
#17 Posted : Thursday, March 05, 2015 1:31:36 PM
Rank: Member


Joined: 2/7/2014
Posts: 155
VituVingiSana wrote:
And this long-tumored NIC/CBA merger???


@vituVingiSana..is it Long-tumored or Long rumoured?....

Also been waiting to here this forver
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ike
#18 Posted : Thursday, March 26, 2015 3:05:22 PM
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Joined: 7/2/2014
Posts: 123
Since equity didn't get to the level I expected I'm putting that money here
,
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streetwise
#19 Posted : Thursday, March 26, 2015 6:19:51 PM
Rank: Veteran


Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
kind of think Equity is bankrupt of ideas...and the way to go when you brain runs empty is down
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Pesa Nane
#20 Posted : Wednesday, April 22, 2015 9:44:53 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:
Notice is hereby given that the fifty fifth Annual General Meeting of the shareholders of NIC Bank Limited will be held at the Kenyatta International Conference Centre (KICC), Nairobi on Wednesday 20th May 2015, at 11.00 am
Pesa Nane plans to be shilingi when he grows up.
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