NIC Bank Results - Stocks - Wazua

Welcome Guest

Wazua » Investor » Stocks » NIC Bank Results

7 Pages123>»

NIC Bank Results

Options

Previous Topic · Next Topic

muganda		#1 Posted : Wednesday, February 24, 2010 8:32:45 AM
Rank: Elder Joined: 9/15/2006 Posts: 3,907		Hey guys, I've a couple of these shares @60, but the drama has been disappointing so far... Hear the results were announced today. Any links?
Back to top		\|
User Profile

muganda		#2 Posted : Wednesday, February 24, 2010 8:38:58 AM
Rank: Elder Joined: 9/15/2006 Posts: 3,907		Perhaps spoke too soon. Just seen the following snapshot from Aly-Khan Satchu. Loan loss provision frightening. Full Year Results Dec 2009 versus Dec 2008: Total Interest Income 4.425b versus 3.747b = +18.09% Net Interest Income 2.414b versus 2.015b = +19.80% Total Non interest Inc 1.461b versus 1.176b = +24.23% Loan Loss 463.484m vs 194.551m = +138.23% Staff Costs 938.959m vs 742.171m = +26.515% Total Operating Exp 2.348b versus 1.707b = +37.55% PAT 1.085b versus 1.037b = +4.629% EPS 3.31 versus 3.18 = +4.088% Dividend 0.50 as per 2008 His Conclusions A Solid Set of Results where Defence rather than Offence was required. The Staff Costs confirm that NIC is positioned for a return to Growth and the PE Valuation of 10.574 makes it Good Value.
Back to top		\|
User Profile

mv_ufanisi		#3 Posted : Wednesday, February 24, 2010 8:39:38 AM
Rank: Member Joined: 1/15/2010 Posts: 625		EPS is up from 3.18 to 3.31.
Back to top		\|
User Profile

VituVingiSana		#4 Posted : Wednesday, February 24, 2010 9:04:47 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		NIC bought the Tanzania bank in 2Q 2009. The profits/gains should start flowing in 2010 as they integrate their operations & client list... Tanzania is huge and the resources beat Kenya hands down! Lucky for Kenya, we have the 'better' manpower & entrepreneurial spirit... when we are not killing each other... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
Back to top		\| \| Edit by user: Wednesday, February 24, 2010 10:24 AM \| Reason: Not specified
User Profile

mkonomtupu		#5 Posted : Wednesday, February 24, 2010 9:23:13 AM
Rank: Veteran Joined: 2/10/2010 Posts: 1,001 Location: River Road		That loan loss provision doesn't look good. But it's worth keeping. I got in at 31.75 in January as defensive stock. It still has a strong-hold in instalment and trade finance.
Back to top		\|
User Profile

Dizuzu02		#6 Posted : Wednesday, February 24, 2010 9:44:57 AM
Rank: New-farer Joined: 11/30/2009 Posts: 4 Location: KAMPALA		The directors have recommended a bonus share for every 10 held by 25th March. In my view a share to hold in the long run
Back to top		\|
User Profile

gathinga		#7 Posted : Wednesday, February 24, 2010 10:01:59 AM
Rank: Veteran Joined: 11/30/2006 Posts: 635		@Muganda. Not good at all. The market expected much more than just 4.6% PBT growth based on their own H1 results. The 138% loan loss provision growth from previous year is a indictment of their allegedly conservative lending policy. Even equity who have the most liberal policy on lending only registered 2% increase I like the idea of 1:10 bonus shares which they have now done for the third year in a row, basically meaning they believe in the business and intend to plough back the bulk of the profits rather than pay out dividends..
Back to top		\|
User Profile

sheep		#8 Posted : Wednesday, February 24, 2010 10:13:59 AM
Rank: Veteran Joined: 7/24/2008 Posts: 781		Lets wait for DTB results,they will definitely be better. The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
Back to top		\|
User Profile

VituVingiSana		#9 Posted : Wednesday, February 24, 2010 10:35:06 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		The higher the Loan Loss Provisions.. the better... sort of... Banks that take LLPs are saying, we screwed up... but we will provide for them (they go against Profits) so the problem is taken care of... @gathinga - Careful... Equity might NOT be providing enough for their Loans... I do not know how good/poor Equity's policies are for NPLs but I have been in the market for many years... KCB used to 'show' great results... lakini they were fake! When the crap hit the fan, the losses (due to LLPs & write-offs) were enormous! It took a Rights Issue to re-capitalize the bank. And a lot of patience & 'massaging' of the books to keep it 'solvent'. Same for NBK... actually, even worse! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
Back to top		\|
User Profile

VituVingiSana		#10 Posted : Wednesday, February 24, 2010 10:38:04 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,349 Location: Nairobi		Microlenders & bad debts... All is not roses... http://www.wazua.co.ke/f....aspx?g=posts&t=5955 Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
Back to top		\|
User Profile

7 Pages123>»

Wazua » Investor » Stocks » NIC Bank Results

Forum Jump

You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Watch this topic
Print this topic

Normal
Threaded