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Rank: Elder Joined: 6/23/2009 Posts: 14,339 Location: nairobi
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Horton wrote:Ericsson wrote:https://www.businessdailyafrica.com/markets/capital/Consolidated-Bank-extends-its-bond-maturity-by-3-months/4259442-5205716-6609xw/index.html
The Consolidated Bank of Kenya has extended the maturity of its Sh2 billion ($19.39 million) medium-term note by three months to allow its biggest shareholder, the government, to inject more capital, the lender said on Monday.
The seven-year bond, which was issued to shore up the bank’s capital, allowing it to lend more to its customers, was due to mature on July 22.
It will now mature on October 22 under the same terms with additional interest payments for the extension, Consolidated said.
Govt-owned
“The extension is necessary to allow the National Treasury (finance ministry) to finalise the process of capital injection into the bank,” the lender said in a statement.
Consolidated, which is 85.8 percent owned by the government, was formed in 1989 when the state merged nine troubled financial firms.
Efforts to privatise it, along with a host of other government-owned enterprises, have been delayed for more than a decade due to red tape and the state of its books.
GoK injecting more capital=KCB acquiring it How do u figure? Far fetched conclusion COOP, IMH, KEGN, KQ, MTNU
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Rank: Veteran Joined: 4/4/2016 Posts: 2,022 Location: Kitale
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obiero wrote:Horton wrote:Ericsson wrote:https://www.businessdailyafrica.com/markets/capital/Consolidated-Bank-extends-its-bond-maturity-by-3-months/4259442-5205716-6609xw/index.html
The Consolidated Bank of Kenya has extended the maturity of its Sh2 billion ($19.39 million) medium-term note by three months to allow its biggest shareholder, the government, to inject more capital, the lender said on Monday.
The seven-year bond, which was issued to shore up the bank’s capital, allowing it to lend more to its customers, was due to mature on July 22.
It will now mature on October 22 under the same terms with additional interest payments for the extension, Consolidated said.
Govt-owned
“The extension is necessary to allow the National Treasury (finance ministry) to finalise the process of capital injection into the bank,” the lender said in a statement.
Consolidated, which is 85.8 percent owned by the government, was formed in 1989 when the state merged nine troubled financial firms.
Efforts to privatise it, along with a host of other government-owned enterprises, have been delayed for more than a decade due to red tape and the state of its books.
GoK injecting more capital=KCB acquiring it How do u figure? Far fetched conclusion it's foreseeable.After NBK,this one next. Towards the goal of financial freedom
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Back into KCB with an ABP of 39.05
PE 5, growing numbers. Great Margin of Safety, Good dividend yield, what’s there not to like?
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Rank: Elder Joined: 6/23/2009 Posts: 14,339 Location: nairobi
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Horton wrote:Back into KCB with an ABP of 39.05
PE 5, growing numbers. Great Margin of Safety, Good dividend yield, what’s there not to like?
An all weather share. Good choice COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 12/4/2009 Posts: 10,823 Location: NAIROBI
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https://kenyanwallstreet...t-charge-to-7-5-percent/Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,823 Location: NAIROBI
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Half year profit before tax at ksh.17.9bn Profit after tax at ksh.12.7bn Interim dividend of ksh.1 per share to be paid on 15th November to shareholders at the close of business on 5 September Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,823 Location: NAIROBI
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KCB Group PLC has posted a 5% growth in after tax profit to KShs. 12.7 billion for the first half of 2019 ending June. The improvement in earnings is attributable to growth in loan book and increased mobile channel activity. “There has been a 12% growth in Gross loans advanced & we have seen the ratio of non-performing loans to total loans decline to 7.8% from 8.4%, well below the industry average of 12.7%” Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,823 Location: NAIROBI
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In the international subsidiaries KCB Tanzania is the most profitable then followed by Rwanda,South Sudan then Burundi KCB Tz PBT ksh.451mn growth of 22% from 371mn KCB Rwanda PBT ksh.419mn growth of 35% from 310mn KCB South Sudan PBT ksh.229mn growth of 128% from 100mn KCB Burundi PBT ksh.156mn growth of 56% from 100mn KCB Uganda Loss of Ksh.143mn a decline by 151% from Profit of 283mn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,823 Location: NAIROBI
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KCB is banking on conclusion with the two main shareholders of NBK for transaction to go through. Imperial bank is acquisition is taking longer, because it has been on receivership for long.KCB estimated the assets at $100M but the assets came down to almost half Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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https://www.businessdail...7388-lvyj8lz/index.html
Not to forget NBK is full of skeletons hope they have done a thorough due diligence on NBK loan book
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