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I&M FY2018
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Ericsson
#1 Posted : Wednesday, March 27, 2019 9:20:02 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
bonus 1:1
No dividend

Net Interest Income up 0.3% to ksh.15.6bn
Non-interest Income rose by 31.8% to ksh.7.6bn
Loan Loss Provision dropped by 8.1% to ksh.3.8bn
Balance sheet grew by 20.2% to ksh.288.5bn
Profit after tax grew by 17.1% to ksh.8.5bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Superprime1
#2 Posted : Wednesday, March 27, 2019 9:24:54 AM
Rank: Member

Joined: 5/2/2018
Posts: 267
Ericsson wrote:
bonus 1:1
No dividend

Net Interest Income up 0.3% to ksh.15.6bn
Non-interest Income rose by 31.8% to ksh.7.6bn
Loan Loss Provision dropped by 8.1% to ksh.3.8bn
Balance sheet grew by 20.2% to ksh.288.5bn
Profit after tax grew by 17.1% to ksh.8.5bn

Good stuff.
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Ericsson
#3 Posted : Wednesday, March 27, 2019 11:19:51 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Superprime1 wrote:
Ericsson wrote:
bonus 1:1
No dividend

Net Interest Income up 0.3% to ksh.15.6bn
Non-interest Income rose by 31.8% to ksh.7.6bn
Loan Loss Provision dropped by 8.1% to ksh.3.8bn
Balance sheet grew by 20.2% to ksh.288.5bn
Profit after tax grew by 17.1% to ksh.8.5bn

Good stuff.


Profit/ [loss] before tax and exceptional items 10.902470b
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#4 Posted : Wednesday, March 27, 2019 1:26:17 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
1:1 during the old good days the price could have almost doubled immediately
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#5 Posted : Wednesday, March 27, 2019 1:58:18 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
mlennyma wrote:
1:1 during the old good days the price could have almost doubled immediately
Which made no sense. Let's enjoy the good performance. Applause Applause Applause
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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littledove
#6 Posted : Tuesday, April 02, 2019 8:20:57 AM
Rank: Veteran

Joined: 7/1/2014
Posts: 927
Location: sky
https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.html
The new age building dubbed 1 Park Avenue, located near City Park, will be part of the real estate investment portfolio of the bank’s property arm I&M Realty.

I&M expects to occupy 2 and a half floors of the seven-floor complex in a shift that will see 15 percent of the lender’s staff moving there, representing about 125 people.
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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VituVingiSana
#7 Posted : Tuesday, April 02, 2019 10:23:00 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
littledove wrote:
https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.html
The new age building dubbed 1 Park Avenue, located near City Park, will be part of the real estate investment portfolio of the bank’s property arm I&M Realty.

I&M expects to occupy 2 and a half floors of the seven-floor complex in a shift that will see 15 percent of the lender’s staff moving there, representing about 125 people.

Only 7 floors? Seems a waste given the land cost is fixed.
Unless the design allows for further vertical expansion in the future.

IMHO, probably poor ROI on owning the building vs leasing it. Office space is available all over the place.

Or it could be a vanity project.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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nairobby
#8 Posted : Tuesday, April 02, 2019 10:54:09 AM
Rank: Member

Joined: 1/18/2019
Posts: 185
Location: kenya
VituVingiSana wrote:
littledove wrote:
https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.html
The new age building dubbed 1 Park Avenue, located near City Park, will be part of the real estate investment portfolio of the bank’s property arm I&M Realty.

I&M expects to occupy 2 and a half floors of the seven-floor complex in a shift that will see 15 percent of the lender’s staff moving there, representing about 125 people.

Only 7 floors? Seems a waste given the land cost is fixed.
Unless the design allows for further vertical expansion in the future.

IMHO, probably poor ROI on owning the building vs leasing it. Office space is available all over the place.

Or it could be a vanity project.


Vanity perhaps. However I think the building is strategically located and may do better than other commercial buildings at attracting tenants. Plus by the time they set all this in motion it was years ago when property was still booming.
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VituVingiSana
#9 Posted : Tuesday, April 02, 2019 11:33:49 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
nairobby wrote:
VituVingiSana wrote:
littledove wrote:
https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.html
The new age building dubbed 1 Park Avenue, located near City Park, will be part of the real estate investment portfolio of the bank’s property arm I&M Realty.

I&M expects to occupy 2 and a half floors of the seven-floor complex in a shift that will see 15 percent of the lender’s staff moving there, representing about 125 people.

Only 7 floors? Seems a waste given the land cost is fixed.
Unless the design allows for further vertical expansion in the future.

IMHO, probably poor ROI on owning the building vs leasing it. Office space is available all over the place.

Or it could be a vanity project.


Vanity perhaps. However I think the building is strategically located and may do better than other commercial buildings at attracting tenants. Plus by the time they set all this in motion it was years ago when property was still booming.

Just 7 floors seems a vanity project. The much older Kenyatta Ave building is much taller.
There's no mention of the cost of the property but I wonder that the ROI is given 25-year T-Bonds pay 12.6% tax-free.

Let's say it cost them KES 1.5bn including the land that's an opportunity cost 190mn/year (before rent from other tenants).
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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nairobby
#10 Posted : Tuesday, April 02, 2019 11:41:47 AM
Rank: Member

Joined: 1/18/2019
Posts: 185
Location: kenya
VituVingiSana wrote:
nairobby wrote:
VituVingiSana wrote:
littledove wrote:
https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.html
The new age building dubbed 1 Park Avenue, located near City Park, will be part of the real estate investment portfolio of the bank’s property arm I&M Realty.

I&M expects to occupy 2 and a half floors of the seven-floor complex in a shift that will see 15 percent of the lender’s staff moving there, representing about 125 people.

Only 7 floors? Seems a waste given the land cost is fixed.
Unless the design allows for further vertical expansion in the future.

IMHO, probably poor ROI on owning the building vs leasing it. Office space is available all over the place.

Or it could be a vanity project.


Vanity perhaps. However I think the building is strategically located and may do better than other commercial buildings at attracting tenants. Plus by the time they set all this in motion it was years ago when property was still booming.

Just 7 floors seems a vanity project. The much older Kenyatta Ave building is much taller.
There's no mention of the cost of the property but I wonder that the ROI is given 25-year T-Bonds pay 12.6% tax-free.

Let's say it cost them KES 1.5bn including the land that's an opportunity cost 190mn/year (before rent from other tenants).


I agree. Don't they also have a building in Upperhill?
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