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HF Group Q1 2016 PAT up 47.7%
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instinct
#11 Posted : Tuesday, April 26, 2016 11:20:12 AM
Rank: Member

Joined: 8/17/2007
Posts: 294
MadDoc wrote:
instinct wrote:
MadDoc wrote:
Gatheuzi wrote:
Here is the position on loan loss provisioning.

Business Daily wrote:
HF’s loan loss provisions dropped by Sh7.8 million to Sh136.8 million despite the gross bad loans rising by Sh105.8 million to Sh327.4 million.

The company, however, says it expects some of the non-performing loans to be paid off later this year.

So they reduced the LLP on the premise of hopeLiar


Its expectation not hope...there's a difference smile


Hope, expectation.. They really should have allocated more to the LLPs


I would imagine that their LLP is much lower than industry average since majority of their loans are mortgages and therefore secured
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KulaRaha
#12 Posted : Tuesday, April 26, 2016 12:19:18 PM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
Hmmm....in an industry where most top players are struggling...

Too many cooks around...
Business opportunities are like buses,there's always another one coming
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lochaz-index
#13 Posted : Tuesday, April 26, 2016 1:02:56 PM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.
The main purpose of the stock market is to make fools of as many people as possible.
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  | | Edit by user: Tuesday, April 26, 2016 1:09 PM | Reason: Not specified
littledove
#14 Posted : Tuesday, April 26, 2016 1:45:20 PM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
lochaz-index wrote:
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.

money from rights issue conducted last year
of important to note also is
HF is set to redeem Sh7 billion worth of its seven-year bond it issued in 2010
There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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MadDoc
#15 Posted : Tuesday, April 26, 2016 2:51:28 PM
Rank: Member

Joined: 10/26/2015
Posts: 151
instinct wrote:
MadDoc wrote:
instinct wrote:
MadDoc wrote:
Gatheuzi wrote:
Here is the position on loan loss provisioning.

Business Daily wrote:
HF’s loan loss provisions dropped by Sh7.8 million to Sh136.8 million despite the gross bad loans rising by Sh105.8 million to Sh327.4 million.

The company, however, says it expects some of the non-performing loans to be paid off later this year.

So they reduced the LLP on the premise of hopeLiar


Its expectation not hope...there's a difference smile


Hope, expectation.. They really should have allocated more to the LLPs


I would imagine that their LLP is much lower than industry average since majority of their loans are mortgages and therefore secured

That doesn't hold especially when the NPLs have tripled
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jgithige
#16 Posted : Tuesday, April 26, 2016 2:57:37 PM
Rank: Member

Joined: 7/10/2014
Posts: 145
Location: Nairobi
HFC grossly undervalued with a market cap of 6 billion.
"Blowing out someone else candle won't make yours shine brighter"-Anonymous
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lochaz-index
#17 Posted : Tuesday, April 26, 2016 3:48:58 PM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
littledove wrote:
lochaz-index wrote:
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.

money from rights issue conducted last year
of important to note also is
HF is set to redeem Sh7 billion worth of its seven-year bond it issued in 2010

I have just had a peek at its disclosures section. Both its capital and liquidity ratios are thinning out very fast. Bringing the bond redemption into focus would mean both its tier 1&2 capital will need replenishing...there seems to be more than meets the eye here. Increased lending doesn't add up.
The main purpose of the stock market is to make fools of as many people as possible.
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  | | Edit by user: Tuesday, April 26, 2016 4:18 PM | Reason: Not specified
mugo2of3
#18 Posted : Tuesday, April 26, 2016 6:25:51 PM
Rank: New-farer

Joined: 5/22/2014
Posts: 78
lochaz-index wrote:
littledove wrote:
lochaz-index wrote:
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.

money from rights issue conducted last year
of important to note also is
HF is set to redeem Sh7 billion worth of its seven-year bond it issued in 2010

I have just had a peek at its disclosures section. Both its capital and liquidity ratios are thinning out very fast. Bringing the bond redemption into focus would mean both its tier 1&2 capital will need replenishing... there seems to be more than meets the eye here. Increased lending doesn't add up.


@lochaz-index, do you mind putting the above in Layman-friendly language..
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obiero
#19 Posted : Tuesday, April 26, 2016 7:09:01 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,222
Location: nairobi
mugo2of3 wrote:
lochaz-index wrote:
littledove wrote:
lochaz-index wrote:
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.

money from rights issue conducted last year
of important to note also is
HF is set to redeem Sh7 billion worth of its seven-year bond it issued in 2010

I have just had a peek at its disclosures section. Both its capital and liquidity ratios are thinning out very fast. Bringing the bond redemption into focus would mean both its tier 1&2 capital will need replenishing... there seems to be more than meets the eye here. Increased lending doesn't add up.


@lochaz-index, do you mind putting the above in Layman-friendly language..

Fact is that they are playing a game dangerous in nature.. Very similar to the NBK one.. In other news, its the govt bonds that gave massive or significant income push

KQ ABP 4.26
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maka
#20 Posted : Tuesday, April 26, 2016 9:09:26 PM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
obiero wrote:
mugo2of3 wrote:
lochaz-index wrote:
littledove wrote:
lochaz-index wrote:
KulaRaha wrote:
Hmmm....in an industry where most top players are struggling...

Too many cooks around...


My thoughts too. Where is this increased lending coming from? Whether you look at it from the borrowers(increased premium 'k' and harsh business climate) or lenders (liquidity preference and a risk off approach)point of view it doesn't make sense unless there is something we ain't accounting for.

money from rights issue conducted last year
of important to note also is
HF is set to redeem Sh7 billion worth of its seven-year bond it issued in 2010

I have just had a peek at its disclosures section. Both its capital and liquidity ratios are thinning out very fast. Bringing the bond redemption into focus would mean both its tier 1&2 capital will need replenishing... there seems to be more than meets the eye here. Increased lending doesn't add up.


@lochaz-index, do you mind putting the above in Layman-friendly language..

Fact is that they are playing a game dangerous in nature.. Very similar to the NBK one.. In other news, its the govt bonds that gave massive or significant income push


@Obiero which bonds agian?HF is never talked about in the FI circles...nothing to write home about.
possunt quia posse videntur
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