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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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young wrote:Ericsson wrote:93% drop,no interim dividend. 12 branded African countries subsidiaries of ABSA contributes 26% of ABSA SA earnings. ABSA Kenya contributes ONLY less than 3.5% of ABSA SA earnings. So that means recorded 82% drop in earnings in SA HQ does not imply same margin of drop in absa kenya. ABSA Kenya performance will not be so dysmal factoring in negative impact of covid19 on her earnings. https://www.biznews.com/...vesting/2020/08/24/absa
ABSA Kenya is the largest and most profitable of it's regional operations. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Ericsson wrote:young wrote:Ericsson wrote:93% drop,no interim dividend. 12 branded African countries subsidiaries of ABSA contributes 26% of ABSA SA earnings. ABSA Kenya contributes ONLY less than 3.5% of ABSA SA earnings. So that means recorded 82% drop in earnings in SA HQ does not imply same margin of drop in absa kenya. ABSA Kenya performance will not be so dysmal factoring in negative impact of covid19 on her earnings. https://www.biznews.com/...vesting/2020/08/24/absa
ABSA Kenya is the largest and most profitable of it's regional operations. My comments below The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Ericsson wrote:young wrote:Ericsson wrote:93% drop,no interim dividend. 12 branded African countries subsidiaries of ABSA contributes 26% of ABSA SA earnings. ABSA Kenya contributes ONLY less than 3.5% of ABSA SA earnings. So that means recorded 82% drop in earnings in SA HQ does not imply same margin of drop in absa kenya. ABSA Kenya performance will not be so dysmal factoring in negative impact of covid19 on her earnings. https://www.biznews.com/...vesting/2020/08/24/absa
ABSA Kenya is the largest and most profitable of it's regional operations. Please confirm with link if you have ? ABSA Kenya has lost some grounds in recent years , it is no longer among the top 3 banks in Kenya quite unlike yesteryears wheras ABSA Ghana still maintains NO 2 position after GCB (Ghana commercial bank) There is ABSA here in Nigeria but not listed in our bourse, so information about them is scanty . ABSA has strong presence (in terms of market cap) in the following countries. They rank among the top 3 banks. - Ghana - Botswana - Namibia - Zambia The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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Ericsson wrote:Rallying to the ksh.10 mark.
Will they break break the trend and not issue an interim dividend for the first time in as many years? Very unlikely to issue interim dividends . The trivial thing is to make provision for deferred loans and NPL occasioned by covid. This will eat into their HY earnings. They just have to retain cash like other banks to issue "covid19" miserly FY dividends next year . If they decide to issue interim dividend from their reserves , that will be a strange "greek gift" which is not sustenable. I do not understand the reason behind her rally. Time and events will unfold. I am actually waiting for it at pre rally 9.00 Bob or slightly below to accumulate more . The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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young wrote:Ericsson wrote:young wrote:Ericsson wrote:93% drop,no interim dividend. 12 branded African countries subsidiaries of ABSA contributes 26% of ABSA SA earnings. ABSA Kenya contributes ONLY less than 3.5% of ABSA SA earnings. So that means recorded 82% drop in earnings in SA HQ does not imply same margin of drop in absa kenya. ABSA Kenya performance will not be so dysmal factoring in negative impact of covid19 on her earnings. https://www.biznews.com/...vesting/2020/08/24/absa
ABSA Kenya is the largest and most profitable of it's regional operations. Please confirm with link if you have ? ABSA Kenya has lost some grounds in recent years , it is no longer among the top 3 banks in Kenya quite unlike yesteryears wheras ABSA Ghana still maintains NO 2 position after GCB (Ghana commercial bank) There is ABSA here in Nigeria but not listed in our bourse, so information about them is scanty . ABSA has strong presence (in terms of market cap) in the following countries. They rank among the top 3 banks. - Ghana - Botswana - Namibia - Zambia In Nigeria ABSA doesn't have a full banking operation, it has a representative office. ABSA kenya profits exceeds that of ABSA in each of the countries you have mentioned even though it's not top 3 in Kenya. ABSA kenya total assets is bigger than that that of ABSA in the other countries except South Africa Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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young wrote:Ericsson wrote:Rallying to the ksh.10 mark.
Will they break break the trend and not issue an interim dividend for the first time in as many years? Very unlikely to issue interim dividends . The trivial thing is to make provision for deferred loans and NPL occasioned by covid. This will eat into their HY earnings. They just have to retain cash like other banks to issue "covid19" miserly FY dividends next year . If they decide to issue interim dividend from their reserves , that will be a strange "greek gift" which is not sustenable. I do not understand the reason behind her rally. Time and events will unfold. I am actually waiting for it at pre rally 9.00 Bob or slightly below to accumulate more . @All ABSA is not worth a buy for now if you are looking for income(dividend) . This is based on her dysmal HY 2020 performance. With PBT of 3.3bn and extremely low PAT of 0.5 bn please forget it for now. There was 1.7 BN exceptional which reduced her net earnings considerably . This is in addition to deferred interest income occasioned by covid. The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Restructured loans at ksh.57 billion as at 30 June Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,515 Location: nairobi
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young wrote:young wrote:Ericsson wrote:Rallying to the ksh.10 mark.
Will they break break the trend and not issue an interim dividend for the first time in as many years? Very unlikely to issue interim dividends . The trivial thing is to make provision for deferred loans and NPL occasioned by covid. This will eat into their HY earnings. They just have to retain cash like other banks to issue "covid19" miserly FY dividends next year . If they decide to issue interim dividend from their reserves , that will be a strange "greek gift" which is not sustenable. I do not understand the reason behind her rally. Time and events will unfold. I am actually waiting for it at pre rally 9.00 Bob or slightly below to accumulate more . @All ABSA is not worth a buy for now if you are looking for income(dividend) . This is based on her dysmal HY 2020 performance. With PBT of 3.3bn and extremely low PAT of 0.5 bn please forget it for now. There was 1.7 BN exceptional which reduced her net earnings considerably . This is in addition to deferred interest income occasioned by covid. Very unattractive
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 6/20/2007 Posts: 2,037 Location: Lagos, Nigeria
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https://www.absabank.co.ke/investor-relations/
Note: Click Financial Reports and proceed from there . Just wondering :- 1. What was the motivation for steep rise of ABSA from 8.50 to 10+ bob in the past 1 week with LARGE volumes ? 2 Why is the rebranding cost of 1.7bn after full migration introduced in HY 2020? Was the cost element not broken to tranches since the begining 2018? https://www.businessdail...15278-drkoty/index.html
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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obiero wrote:young wrote:young wrote:Ericsson wrote:Rallying to the ksh.10 mark.
Will they break break the trend and not issue an interim dividend for the first time in as many years? Very unlikely to issue interim dividends . The trivial thing is to make provision for deferred loans and NPL occasioned by covid. This will eat into their HY earnings. They just have to retain cash like other banks to issue "covid19" miserly FY dividends next year . If they decide to issue interim dividend from their reserves , that will be a strange "greek gift" which is not sustenable. I do not understand the reason behind her rally. Time and events will unfold. I am actually waiting for it at pre rally 9.00 Bob or slightly below to accumulate more . @All ABSA is not worth a buy for now if you are looking for income(dividend) . This is based on her dysmal HY 2020 performance. With PBT of 3.3bn and extremely low PAT of 0.5 bn please forget it for now. There was 1.7 BN exceptional which reduced her net earnings considerably . This is in addition to deferred interest income occasioned by covid. Very unattractive At ksh.6 to 7 per share it will be attractive Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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young wrote:https://www.absabank.co.ke/investor-relations/ Note: Click Financial Reports and proceed from there . Just wondering :- 1. What was the motivation for steep rise of ABSA from 8.50 to 10+ bob in the past 1 week with LARGE volumes ? 2 Why is the rebranding cost of 1.7bn after full migration introduced in HY 2020? Was the cost element not broken to tranches since the begining 2018? https://www.businessdail...15278-drkoty/index.html
I guess they meant for current year,in the 6 months they've spent ksh.1.7bn. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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ABSA 2020 PBT Q1--3.43bn Q2--Loss of 171mn Q3--2.076bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Ericsson wrote:ABSA 2020 PBT
Q1--3.43bn
Q2--Loss of 171mn
Q3--2.076bn Q4--Loss of 231mn FY2020 profit ksh.5.098bn Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/16/2019 Posts: 313
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Absa wins row over 98 Itare dam scam vehiclesQuote:Absa Kenya has won the first round in the fight for 98 motor vehicles purchased by the bankrupt Italian firm CMC Di Ravenna for use in the construction of the controversial Itare Dam in Nakuru.
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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https://www.businesslive...to-step-down-from-role/
Absa CEO Daniel Mminele set to leave due to strategic differences with board Mminele and the bank have agreed to part ways and are working on a separation agreement, the lender says In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Angelica _ann wrote:https://www.businesslive.co.za/bd/companies/financial-services/2021-04-20-absa-ceo-daniel-mminele-to-step-down-from-role/
Absa CEO Daniel Mminele set to leave due to strategic differences with board
Mminele and the bank have agreed to part ways and are working on a separation agreement, the lender says His deputy (Peter Matlare) succumbed to covid-19 related complications last month. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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2021 Q1 Profit before tax ksh.3.4bn. No exceptional items. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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https://tradingroom.co.k...nagement-businesses-sa/
ABSA to combine it's investment management business with that of Sanlam. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Absa breaches lending law in Sh18.8bn loan to EABL https://www.businessdail...8bn-loan-to-eabl-3575148Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Former Absa staff lose legal battle in Sh300m pay row https://www.businessdail...e-sh300m-pay-row-3590846Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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