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KCB HY 2018
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mlennyma
#11 Posted : Thursday, August 16, 2018 8:35:35 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Ericsson wrote:
Loan book expanded 4% to ksh.421.5bn from 406.9bn
Group assets up 6% to ksh.668bn
Investment in government Securities down 4% to ksh.113bn
Deposits jump 9% from ksh.482.9bn to 525bn
Non performing loans ratio improved by 130 basis points from March 2018 to settle at 8.5% as at June 2018
Group profit before tax surges 16% to ksh.17.1bn from 14.8bn in HY2017
Profit after tax surges 18% to KSH.12.1bn from 10.3bn in HY2017

Equity shown dust
"Don't let the fear of losing be greater than the excitement of winning."
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Realtreaty
#12 Posted : Thursday, August 16, 2018 9:39:24 PM
Rank: Elder

Joined: 8/16/2011
Posts: 2,386
young wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income


How much is the interim div ?



Laughing out loudlyLaughing out loudly Laughing out loudly Laughing out loudly Generation "Young" more interested on what will be in their pocketApplause Applause Applause Applause
Other things are stories
I hope the Old Alma can read this.
By the way if what is coming to your pocket is good, all other things are positive.
Next......?
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lochaz-index
#13 Posted : Thursday, August 16, 2018 10:09:48 PM
Rank: Veteran

Joined: 9/18/2014
Posts: 1,127
sparkly wrote:
lochaz-index wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.


Since rate caps banks have been putting more of their deposits into government securities hence fewer riskier loans and lower loan provisions

That holds water for the new loan book but what of the old one? Is it deteriorating, constant or improving vis a vis the macros? Less NPLs and LLPs suggests an overall improvement in loan book quality, is that really the case? How many banks actually took the hard road of early and heavy write offs to warrant the reductions now?

Secondly, does that take into consideration the provisions of IFRS like providing for expected credit loss vs the old model of only providing for actual defaults and provisions for lending to govt and state owned enterprises?
The main purpose of the stock market is to make fools of as many people as possible.
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Obi 1 Kanobi
#14 Posted : Friday, August 17, 2018 10:27:09 AM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
lochaz-index wrote:
watesh wrote:
Total income is stagnant....the 18% growth in PBT is brought about by a major drop in the Loan loss provision. Love the interim dividend, very disappointed by growth in income

What is the story /logic behind the declining LLP's and NPLs? It appears that's the party line for all banks to squeeze some decent earnings but the fundies disagree with that notion.


Main reason is an improved overall credit rating for most of their new customers, one of the benefits of the interest rate cap is that banks have reduced the risky loans that they used to price at 18-23%.

They now carry out a more thorough risk assessment and focus on ability to pay over collateral when evaluating loan applicants.

But they will never tell us this as they prefer to push for the removal of the rate cap so they can squeeze the small person even more
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Ebenyo
#15 Posted : Friday, August 17, 2018 5:22:26 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.
Towards the goal of financial freedom
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Ericsson
#16 Posted : Saturday, August 18, 2018 4:14:57 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#17 Posted : Saturday, August 18, 2018 3:21:43 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KCB to complete takeover of Imperial bank end of next month

https://www.businessdail...16500-qv6d6tz/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ebenyo
#18 Posted : Saturday, August 18, 2018 6:28:48 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.
Towards the goal of financial freedom
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Horton
#19 Posted : Sunday, August 19, 2018 10:21:37 AM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ebenyo wrote:
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.


When/if rate caps are removed this should be an 90/- stock. Otherwise even at a 10 PE it should be worth 70/- look at the other banks, the are all trading at the 9-10 PE mark.
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mlennyma
#20 Posted : Sunday, August 19, 2018 4:24:05 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Horton wrote:
Ebenyo wrote:
Ericsson wrote:
Ebenyo wrote:
Entry into Ethiopia and purchase of IBL should give some KCB investors avenue to lower their ABPs.This is anticipation of rights issue.


Rights issue I don't see any signs.
The bank has healthy reserves.



Scratching my head.
I want to beat the market in the long run.So far my ABP is 38.20 and a dividend yield of 7%.i had thought the interim will be increased but that was not the case.i dont want to increase my ABP by buying more at higher price.
I will wait for a possible dividend increase next year which looks likely going by half year results, then i will think of revising my abp upwards.
I will also not hesitate to pounce on any eventuality to lower my abp further.


When/if rate caps are removed this should be an 90/- stock. Otherwise even at a 10 PE it should be worth 70/- look at the other banks, the are all trading at the 9-10 PE mark.

rate cap was to be kicked out by September
"Don't let the fear of losing be greater than the excitement of winning."
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