Wazua
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I&M FY2018
Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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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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Rank: Member Joined: 5/2/2018 Posts: 267
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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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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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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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Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
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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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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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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.  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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https://www.businessdailyafrica.com/corporate/companies/I-M-moves-head-office-to-Parklands-in-August/4003102-5052084-t7etlxz/index.htmlThe 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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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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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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Rank: Member Joined: 1/18/2019 Posts: 185 Location: kenya
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VituVingiSana wrote: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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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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nairobby wrote:VituVingiSana wrote: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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Rank: Member Joined: 1/18/2019 Posts: 185 Location: kenya
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VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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? I don't see vanity more of self-actualization. Nairobi Asian community is also at this stage of self-actualization. You can see it from the ongoing densification of parklands and westlands into a more mixed use area. The ongoing road works like Ring road parklands into westlands means they don't need to come to CBD or upperhill. It's more strategic to be located in that area to serve it's major clientele.
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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wukan wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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? I don't see vanity more of self-actualization. Nairobi Asian community is also at this stage of self-actualization. You can see it from the ongoing densification of parklands and westlands into a more mixed use area. The ongoing road works like Ring road parklands into westlands means they don't need to come to CBD or upperhill. It's more strategic to be located in that area to serve it's major clientele. Self-what? Equity - Upper Hill. Nowhere close to its roots. KCB - Upper Hill NBK - CBD BBK/Absa - Westlands SCBK - Westlands Stanbic - Westlands ABC - Westlands Prime - Kileleshwa/Westlands Victoria -Upper Hill (or is it Two Rivers?) Family - ? CBA - CBD (or Westlands?) The directors should self-whatever on their own dime not on the shareholders dime. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:wukan wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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? I don't see vanity more of self-actualization. Nairobi Asian community is also at this stage of self-actualization. You can see it from the ongoing densification of parklands and westlands into a more mixed use area. The ongoing road works like Ring road parklands into westlands means they don't need to come to CBD or upperhill. It's more strategic to be located in that area to serve it's major clientele. Self-what? Equity - Upper Hill. Nowhere close to its roots. KCB - Upper Hill NBK - CBD BBK/Absa - Westlands SCBK - Westlands Stanbic - Westlands ABC - Westlands Prime - Kileleshwa/Westlands Victoria -Upper Hill (or is it Two Rivers?) Family - ? CBA - CBD (or Westlands?) The directors should self-whatever on their own dime not on the shareholders dime. @vvs What he meant is that I&M being a primarily Asian bank is relocating close to where it's clientele and owners are. KCB,NBK,Stanbic,BBK are more local. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:VituVingiSana wrote:wukan wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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? I don't see vanity more of self-actualization. Nairobi Asian community is also at this stage of self-actualization. You can see it from the ongoing densification of parklands and westlands into a more mixed use area. The ongoing road works like Ring road parklands into westlands means they don't need to come to CBD or upperhill. It's more strategic to be located in that area to serve it's major clientele. Self-what? Equity - Upper Hill. Nowhere close to its roots. KCB - Upper Hill NBK - CBD BBK/Absa - Westlands SCBK - Westlands Stanbic - Westlands ABC - Westlands Prime - Kileleshwa/Westlands Victoria -Upper Hill (or is it Two Rivers?) Family - ? CBA - CBD (or Westlands?) The directors should self-whatever on their own dime not on the shareholders dime. @vvs What he meant is that I&M being a primarily Asian bank is relocating close to where it's clientele and owners are. KCB,NBK,Stanbic,BBK are more local. I&M is becoming less Asian, more cosmopolitan. Life is short. Live passionately.
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Rank: Veteran Joined: 11/13/2015 Posts: 1,590
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sparkly wrote:Ericsson wrote:VituVingiSana wrote:wukan wrote:nairobby wrote:VituVingiSana wrote:nairobby wrote:VituVingiSana wrote: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? I don't see vanity more of self-actualization. Nairobi Asian community is also at this stage of self-actualization. You can see it from the ongoing densification of parklands and westlands into a more mixed use area. The ongoing road works like Ring road parklands into westlands means they don't need to come to CBD or upperhill. It's more strategic to be located in that area to serve it's major clientele. Self-what? Equity - Upper Hill. Nowhere close to its roots. KCB - Upper Hill NBK - CBD BBK/Absa - Westlands SCBK - Westlands Stanbic - Westlands ABC - Westlands Prime - Kileleshwa/Westlands Victoria -Upper Hill (or is it Two Rivers?) Family - ? CBA - CBD (or Westlands?) The directors should self-whatever on their own dime not on the shareholders dime. @vvs What he meant is that I&M being a primarily Asian bank is relocating close to where it's clientele and owners are. KCB,NBK,Stanbic,BBK are more local. I&M is becoming less Asian, more cosmopolitan. Pareto principle 80% of income will come from 20% of clients. The 20% clients are the ones who need to go the Bank HQ. This is just optimal allocation of resources.
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Rank: Chief Joined: 1/3/2007 Posts: 18,099 Location: Nairobi
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Ngai! I was just talking of the ROI on an example of a 1.5bn (500mn/acre + 1bn construction) building. Regardless of where it is, I was talking of the economics of it. Whether I&M has their HQ in Parklands, Westlands, CBD, Upper Hill or Konza, I find the "opportunity" cost very high if they own it. I believe Equity leases most of their space including the HQ in Upper Hill. In some spots, given they lease the space, they have reduced the footprint as Equity pushes the digital and agency channels. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Ngai!
I was just talking of the ROI on an example of a 1.5bn (500mn/acre + 1bn construction) building.
Regardless of where it is, I was talking of the economics of it.
Whether I&M has their HQ in Parklands, Westlands, CBD, Upper Hill or Konza, I find the "opportunity" cost very high if they own it.
I believe Equity leases most of their space including the HQ in Upper Hill.
In some spots, given they lease the space, they have reduced the footprint as Equity pushes the digital and agency channels. The opportunity cost is very high owning it,but at the back of your head know there is some influential person benefitting/being rewarded. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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