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Portfolio Balancing: Avoid Over Exposure To Financial Sector
Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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VituVingiSana wrote:I&M Interim Dividend has checked in
KPLC 31 Jan 2025
There may be some small payments hapo na pale but it will be relatively quiet until April.
EABL will likely have an interim.
BAT will have a final DPS.
Banks will have Final dividends.
Kengen may emulate Kplc and issue an interim dividend.
Safaricom interim dividend Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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Kenyan banks are going to have "come to Jesus" moment very soon.
With a lot of dumb money banks are packing excess reserves with CBK while the real economy is demand constrained.
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Rank: Elder Joined: 12/4/2009 Posts: 10,820 Location: NAIROBI
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wukan wrote:Kenyan banks are going to have "come to Jesus" moment very soon.
With a lot of dumb money banks are packing excess reserves with CBK while the real economy is demand constrained.
It's tough.
Non-performing loans is a pain in the banking sector.
Government honouring pending bills and reducing its appetite for borrowing is what is needed more than the cosmetic reduction in CBR Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,375 Location: Nairobi
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Ericsson wrote:wukan wrote:Kenyan banks are going to have "come to Jesus" moment very soon.
With a lot of dumb money banks are packing excess reserves with CBK while the real economy is demand constrained.
It's tough.
Non-performing loans is a pain in the banking sector.
Government honouring pending bills and reducing its appetite for borrowing is what is needed more than the cosmetic reduction in CBR
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
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Rank: Chief Joined: 1/3/2007 Posts: 18,375 Location: Nairobi
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wukan wrote:VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
I agree they should get lean and mean. One has to be selective.
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: 10,820 Location: NAIROBI
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VituVingiSana wrote:wukan wrote:VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
I agree they should get lean and mean. One has to be selective.
State to borrow more domestically signalling higher lending rates and crowding out of private sector Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,375 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:wukan wrote:VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
I agree they should get lean and mean. One has to be selective.
State to borrow more domestically signalling higher lending rates and crowding out of private sector
Unless there is a miracle, we strike oil or gold in a meaningful way, we are screwed in the long-term at this rate. Getting Ghana vibes. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 11/13/2015 Posts: 1,658
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:wukan wrote:VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
I agree they should get lean and mean. One has to be selective.
State to borrow more domestically signalling higher lending rates and crowding out of private sector
Unless there is a miracle, we strike oil or gold in a meaningful way, we are screwed in the long-term at this rate. Getting Ghana vibes.
Yes, the Ghana vibes are there. Yet, we could have played this differently to rebalance the economy towards the private sector. If only banks/fund managers played ball but most of them didn't have well positioned books to take advantage of the macros last year (apart from SCBK & Liberty).
Agility is the key word. We are not seeing it in the results so far
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Rank: Chief Joined: 1/3/2007 Posts: 18,375 Location: Nairobi
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wukan wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:wukan wrote:VituVingiSana wrote:
CBR should have been reduced 100bps minimum.
The CRR cut is meaningless for most banks. Banks will limit lending to businesses if their view of the economy going forward is negative.
Even 2017-2022 when the CBR was in single digits banks were not lending in any significant way. If they were lending it mostly with an eye towards collateral.
I know you enjoy a lot of dividends from banks but the time for them to trim fat is coming.
I agree they should get lean and mean. One has to be selective.
State to borrow more domestically signalling higher lending rates and crowding out of private sector
Unless there is a miracle, we strike oil or gold in a meaningful way, we are screwed in the long-term at this rate. Getting Ghana vibes.
Yes, the Ghana vibes are there. Yet, we could have played this differently to rebalance the economy towards the private sector. If only banks/fund managers played ball but most of them didn't have well positioned books to take advantage of the macros last year (apart from SCBK & Liberty).
Agility is the key word. We are not seeing it in the results so far
When the macros are poor, you have to be defensive. GoK needs to get out of the business of Business.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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