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Coop Bank 2019
Ericsson
#161 Posted : Tuesday, October 27, 2020 11:34:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders.
What was Coop's PAT for 1H 2020?

12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time.

Indeed alot of cash.
With COVID-19 in town and the aftermath it will take to recover like 6 years.
Not unless they do what shareholders are scared of (rights issue)
More than even what KCB will pay for NBK.
Coop PAT 1H for 2020 was ksh.7.1bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#162 Posted : Tuesday, October 27, 2020 4:18:50 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders.
What was Coop's PAT for 1H 2020?

12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time.


Link
https://www.businessdail...evamp-jamii-bora-2722894
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
babashuge
#163 Posted : Thursday, October 29, 2020 8:52:38 AM
Rank: New-farer


Joined: 1/4/2019
Posts: 62
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders.
What was Coop's PAT for 1H 2020?

12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time.


Link
https://www.businessdail...vamp-jamii-bora-2722894[/quote]


I guess cleaning this mess up is what they mean by "focusing on local business"
winmak
#164 Posted : Thursday, October 29, 2020 6:22:23 PM
Rank: Member


Joined: 12/1/2007
Posts: 526
Location: Nakuru
babashuge wrote:
Ericsson wrote:
VituVingiSana wrote:
[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders.
What was Coop's PAT for 1H 2020?

12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time.


Link
https://www.businessdail...vamp-jamii-bora-2722894[/quote]


I guess cleaning this mess up is what they mean by "focusing on local business"


Safe to assume we are not seeing any dvd in the near future. Maybe I missed it but have they stated how they're planning to raise the 12.5 b
For investors as a whole, returns decrease as motion increases ~ WB
Ericsson
#165 Posted : Saturday, October 31, 2020 10:46:23 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
To get a good view of COVID-19 effects on the financials I will do a Quarter on Quarter profit summary;
Q1--5.1bn
Q2--4.5bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#166 Posted : Saturday, October 31, 2020 10:48:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
winmak wrote:
babashuge wrote:
Ericsson wrote:
VituVingiSana wrote:
[quote=Ericsson]Coop bank requires ksh.12.5 billion to revamp Jamii Bora.
A dividend reduction,rights issue may be in the offing for shareholders.
What was Coop's PAT for 1H 2020?

12.5bn is a lot of cash! Though as the loans are paid off/collected, it may be recovered over time.


Link
https://www.businessdail...vamp-jamii-bora-2722894[/quote]


I guess cleaning this mess up is what they mean by "focusing on local business"


Safe to assume we are not seeing any dvd in the near future. Maybe I missed it but have they stated how they're planning to raise the 12.5 b


Dividend will be there but probably on a reduced figure.Compensation will be a bonus share issue
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#167 Posted : Thursday, November 19, 2020 10:52:58 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
Ericsson wrote:
To get a good view of COVID-19 effects on the financials I will do a Quarter on Quarter profit summary;
Q1--5.1bn
Q2--4.5bn

Q3--4.2bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#168 Posted : Friday, January 08, 2021 8:55:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
Profit warning issued
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Queen
#169 Posted : Friday, January 08, 2021 3:01:30 PM
Rank: Member


Joined: 11/21/2018
Posts: 438
Location: Britain
Queen wrote:
mlennyma wrote:
Why does Kcb look more exposed than Co- op?does oigara own any Kcb shares?


Stanbic bank's results (in today's papers) compares favourably with those of KCB. One can therefore conclude that there is an anomaly in Co-op bank's results.


Post #123 of 14th August, 2020. You can't cook books forever.

There is alot of blood in all banking halls.
mlennyma
#170 Posted : Friday, January 08, 2021 3:17:54 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,064
Location: nairobi
According to what this guy's reported upto Q3,a warning was not expected unless they made 0 income in Q4
"Don't let the fear of losing be greater than the excitement of winning."
Queen
#171 Posted : Friday, January 08, 2021 3:25:19 PM
Rank: Member


Joined: 11/21/2018
Posts: 438
Location: Britain
mlennyma wrote:
According to what this guy's reported upto Q3,a warning was not expected unless they made 0 income in Q4


The only probable scenario is that they employed very many cooks in their kitchen.

From Post#123 quoted above, it was rather obvious that Coop bank's results, compared to those of other banks, were an outlier.
Ericsson
#172 Posted : Sunday, January 10, 2021 11:41:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
Ericsson wrote:
Profit warning issued


https://mobile.twitter.c...7421649604403200/photo/1
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ebenyo
#173 Posted : Monday, January 11, 2021 8:30:33 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,889
Location: Kitale
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.
Towards the goal of financial freedom
Queen
#174 Posted : Monday, January 11, 2021 3:19:02 PM
Rank: Member


Joined: 11/21/2018
Posts: 438
Location: Britain
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?
mlennyma
#175 Posted : Tuesday, January 12, 2021 11:06:30 AM
Rank: Elder


Joined: 7/21/2010
Posts: 6,064
Location: nairobi
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters
"Don't let the fear of losing be greater than the excitement of winning."
Ericsson
#176 Posted : Tuesday, January 12, 2021 11:13:08 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions.
I expect Equity group to also follow suit.

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#177 Posted : Tuesday, January 12, 2021 11:14:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Lies was to protect the share price from further erosion.
Luckily in the spirit of wazua someone had already raised the red flag.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Queen
#178 Posted : Tuesday, January 12, 2021 6:40:23 PM
Rank: Member


Joined: 11/21/2018
Posts: 438
Location: Britain
Ericsson wrote:
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Lies was to protect the share price from further erosion.
Luckily in the spirit of wazua someone had already raised the red flag.


Since it's rather obvious lies were involved ( and probably have been involved in lies severally in the past), we now know how this award was arrived at and, with the benefit of hindsight, should probably be withdrawn. Best bank, my foot!

https://www.the-star.co....nya-at-emea-awards-2020/
Queen
#179 Posted : Tuesday, January 12, 2021 6:52:52 PM
Rank: Member


Joined: 11/21/2018
Posts: 438
Location: Britain
Ericsson wrote:
mlennyma wrote:
Queen wrote:
Ebenyo wrote:
Ericsson wrote:
[quote=Ericsson]Profit warning issued


https://mobile.twitter.c...421649604403200/photo/1[/quote]



"materially lower" means it will be more than 25%.


You only issue a profit warning when the anticipated profit decline is more than 25% of the previous year's profits.

But that is beside the point. The elephant in the room is WHY THE PROFIT WARNING NOW YET Q3 RESULTS DID NOT GIVE ANY INDICATION WHATSOEVER? Who is/has been fooling who?


The Q4 results need thorough scrutiny, to tell if a whole bank was peddling lies to investors for the past three quarters


Q4/Full year results will be audited,for fear of the auditor refusing to bulge and CBK scrutiny they had to disclose whatever they had been hiding in terms of loan loss provisions.
I expect Equity group to also follow suit.



Same here.
Ericsson
#180 Posted : Tuesday, January 19, 2021 8:00:49 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,265
Location: NAIROBI
https://www.businessdail...n-ifc-businesses-3260984
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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