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cfc stanbic full year results 2019
littledove
#1 Posted : Monday, March 02, 2020 12:15:46 PM
Rank: Member


Joined: 7/1/2014
Posts: 799
Location: sky
https://www.capitalfm.co.ke/business/2020/03/stanbics-net-profit-hit-sh6-4bn-supported-by-jump-in-revenue/
-Stanbic Holdings Plc has posted a jump in its net profit to Sh6.4 billion for the full year ended December 2019, supported by an increase in revenue.
-Revenue grew by 12 percent to hit Sh24.8 billion, compared to Sh22.1 billion recorded the previous year.
-During the period under review, customer loans and advances grew by 4 percent year on year to Sh152.8 billion.
-Stanbic Holding’s brokerage arm SBG Securities continued to report solid growth in income posting a 58 percent increase in profit after tax at Sh122 million.
-Owing to the improved performance, shareholders will earn a final dividend of Sh5.80 after an interim dividend of Sh1.25 for each ordinary share of Sh5 is paid.

This brings the total dividend to Sh7.05 representing a 22 percent increase from last year.
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
sparkly
#2 Posted : Monday, March 02, 2020 4:32:57 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,854
Location: Enk are Nyirobi
I have sold the news at KShs 110, for the following reasons:
1. I generally expect lower prices in the market in the coming days because of Coronavirus outbreak;
2. I made a capital gain of 12% (Not as much as I had liked but acceptable in view of dividends collected for the last 2 years or so);
3. Stanbic has struggled to keep up with its peers despite its large balance sheet. There are better prospects elsewhere. I am looking at I&M and NCBA at lower prices.

@VVS you are now the driver smile
Life is short. Live passionately.
Ericsson
#3 Posted : Monday, March 02, 2020 5:21:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,675
Location: NAIROBI
Stanbic Holdings paid KES 1.5bn one-off guarantee gone bad in FY2019 related to a Chinese company deal with GDC that was not to be.
VituVingiSana
#4 Posted : Monday, March 02, 2020 7:01:05 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,148
Location: Nairobi
sparkly wrote:
I have sold the news at KShs 110, for the following reasons:
1. I generally expect lower prices in the market in the coming days because of Coronavirus outbreak;
2. I made a capital gain of 12% (Not as much as I had liked but acceptable in view of dividends collected for the last 2 years or so);
3. Stanbic has struggled to keep up with its peers despite its large balance sheet. There are better prospects elsewhere. I am looking at I&M and NCBA at lower prices.

@VVS you are now the driver smile
Laughing out loudly Laughing out loudly Laughing out loudly My position in Stanbic is much smaller than I&M but the dividend yield is decent and growing.
On a relative basis I think I&M/NCBA offer more value.


From SIB

Stanbic Holdings kicked off the earnings season, reporting a marginal rise in EPS of 1.6%y/y to KES 16.14. The subdued growth was as a result of two major one-off costs of KES 1.5bn (bank guarantee) and KES 773m (Voluntary Early Retirement costs) incurred in the course of FY19. Increased impairment costs (+50.2%y/y) further dented the bottom-line as the lender increased its impairment charge on further distress on its loans and advances. Stanbic did get a shot in the arm in the form of a tax credit (KES 400m), as it recouped some of the amounts written off but not recovered.

On the positive side, the lender did increase its total DPS by 21.6% to KES 7.05, in what we interpret as a move to reward shareholders in an environment that doesn’t seem conducive in increasing risk weighted assets.
> The guarantee, a cost of doing business, may not recur but there are no guarantees!
The VERC should reduce costs going forward but unlikely to recur annually.
I am not sure what "a tax credit (KES 400m), as it recouped some of the amounts written off but not recovered" what this is but I hope there's more information in the Annual Report.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
littledove
#5 Posted : Friday, June 19, 2020 3:12:12 PM
Rank: Member


Joined: 7/1/2014
Posts: 799
Location: sky
last week cfc traded a heavy volume of 800,000 shares @ 77, today another heavy volume of 800,000 shares @ 82
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
Ericsson
#6 Posted : Monday, July 27, 2020 8:02:39 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,675
Location: NAIROBI
Stanbic bank kenya has restructured sh.1 billion car loans after the pandemic.
The restructured car loans make up 6.6% of the Stanbic 15.15 billion vehicle and asset financing loan book.
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