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StanChart HY15 earnings down 35%
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iris
#11 Posted : Sunday, August 23, 2015 4:00:52 PM
Rank: Member

Joined: 9/11/2014
Posts: 228
Location: Nairobi
It could also be a deterioration of relationship with the large customer leading to loss of that account, e.g. Though fairly green in financial jargon, the statement seems really vague and unhelpful towards determining cause of impairment charge.
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VituVingiSana
#12 Posted : Sunday, August 23, 2015 8:54:18 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,350
Location: Nairobi
Could the 'bad' customer be KQ?
Many large contractors have not been paid by GoK. Other banks affected include BoA, I&M and KCB.
After 6 months the banks have to provision 100% but banks are allowed by CBK to provision early if they think the loan has gone 'bad' before the 6 months are up. Prudence requires earlier provisions in such cases.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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dunkang
#13 Posted : Monday, August 24, 2015 8:08:15 AM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
kawi254 wrote:
[b][url=http://www.standardmedia.co.ke/business/article/2000173663/standard-chartered-sees-bad-loans-falling-further]"One large name ... deteriorated in Q1 2015 and we had to take a lumpy impairment charge in March 2015 which has increased
the impairment

Looks like KQ but why should they have hopes of recovery in the next 6 months if its KQ?

The amount (~1B) sounds like a property developer. This massionettes/apartments are not moving, but there is hope they will in the next 6 months.
Receive with simplicity everything that happens to you.” ― Rashi

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hisah
#14 Posted : Thursday, September 03, 2015 12:29:37 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Trading @227. Back to 2012 price levels. Support @200 and 150 levels.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Boris Boyka
#15 Posted : Thursday, October 15, 2015 5:37:33 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
sparkly wrote:
Boris Boyka wrote:
enyands wrote:
sparkly wrote:
Boris Boyka wrote:
My Friend will be crying in the toilet here. I saw this coming and 250/- was eminent. He refused my advice to sell his 1300 shares @330/-. The wait will be longer.

Did you advise him/her when to buy? If you didn't, what makes you think you owe him/ her advise on what to sell.


maybe your friend bought it when it was 10 shillings and no matter the price he will sell even if it goes down to 11 shillings that's his profit .maybe he doesn't want to be greedy .just waiting for the right time and not your "right price" .. just sayingsmile

@Sparklysmile Okay. He inherited from the farther in 2013. He wants his portfolio to grow without buying more and targeted 500/- a share.. Surely 500/- was and still is a distance. I had to advise him sell them high...buy other stocks at low...sell high...come back to stanchart when about @250. I might have been wrong.


@Boris maybe your friend has his long term targets. When I started investing almost 15 years ago, my first purchase was SCB at KShs 45. I collected a dividend of 2.50 then sold at 48 and thought I had made a lot of money.

Now look at where the share is, after a split and regular Dividend payments.

Okay @ 190/- now @Sparkly is long term still valid?d'oh!
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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Boris Boyka
#16 Posted : Thursday, October 15, 2015 5:49:07 PM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
hisah wrote:
Trading @227. Back to 2012 price levels. Support @200 and 150 levels.

@Sparkly 200 support broken. 150 is next.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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VituVingiSana
#17 Posted : Thursday, October 15, 2015 6:11:21 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,350
Location: Nairobi
Boris Boyka wrote:
hisah wrote:
Trading @227. Back to 2012 price levels. Support @200 and 150 levels.

@Sparkly 200 support broken. 150 is next.
Applause Applause Applause I like Stanchart. I like it even more at 150.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#18 Posted : Friday, October 16, 2015 12:08:52 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Boris Boyka wrote:
sparkly wrote:
Boris Boyka wrote:
enyands wrote:
sparkly wrote:
Boris Boyka wrote:
My Friend will be crying in the toilet here. I saw this coming and 250/- was eminent. He refused my advice to sell his 1300 shares @330/-. The wait will be longer.

Did you advise him/her when to buy? If you didn't, what makes you think you owe him/ her advise on what to sell.


maybe your friend bought it when it was 10 shillings and no matter the price he will sell even if it goes down to 11 shillings that's his profit .maybe he doesn't want to be greedy .just waiting for the right time and not your "right price" .. just sayingsmile

@Sparklysmile Okay. He inherited from the farther in 2013. He wants his portfolio to grow without buying more and targeted 500/- a share.. Surely 500/- was and still is a distance. I had to advise him sell them high...buy other stocks at low...sell high...come back to stanchart when about @250. I might have been wrong.


@Boris maybe your friend has his long term targets. When I started investing almost 15 years ago, my first purchase was SCB at KShs 45. I collected a dividend of 2.50 then sold at 48 and thought I had made a lot of money.

Now look at where the share is, after a split and regular Dividend payments.

Okay @ 190/- now @Sparkly is long term still valid?d'oh!


I sulenda
Life is short. Live passionately.
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  | | Edit by user: Friday, October 16, 2015 12:11 AM | Reason: Not specified
Boris Boyka
#19 Posted : Friday, October 16, 2015 5:13:58 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
VituVingiSana wrote:
Boris Boyka wrote:
hisah wrote:
Trading @227. Back to 2012 price levels. Support @200 and 150 levels.

@Sparkly 200 support broken. 150 is next.
Applause Applause Applause I like Stanchart. I like it even more at 150.

From high of 330 just this year to 190 now it has shed 140/- which is around 42%.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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VituVingiSana
#20 Posted : Friday, October 16, 2015 6:39:21 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,350
Location: Nairobi
Boris Boyka wrote:
VituVingiSana wrote:
Boris Boyka wrote:
hisah wrote:
Trading @227. Back to 2012 price levels. Support @200 and 150 levels.

@Sparkly 200 support broken. 150 is next.
Applause Applause Applause I like Stanchart. I like it even more at 150.

From high of 330 just this year to 190 now it has shed 140/- which is around 42%.
I was not a buyer at 330. Some of the profits were from asset sales thus a one-time boost to PAT. At 150, the PER & PB look very attractive.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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