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NIC BANK H1 2011 RESULTS
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Gordon Gekko
#11 Posted : Thursday, August 18, 2011 4:01:35 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Cde Monomotapa wrote:
The div.yield is unattractive though.especially at 3,500* points.


Yes, but the regular bonuses amply make up.
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the deal
#12 Posted : Thursday, August 18, 2011 5:27:13 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mkonomtupu wrote:
@deal why do you think economy will go in to a tail spin so soon. I think the companies associated with the anchor shareholders will bring liquidity to NIC

Lets hope so, because borrowing and lending in this environment is not viable, otherwise 2H will be hit hard i.e net interest margins will go down...since more than 60% of NIC's total operating income comes from interest income they're very vulnerable to any changes in interest rates...well the economy? as a business would you borrow at those alarming rates? having said that lets wait for 3Q things will be clear by then, right now we are just assumingsmile
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kenyainvestor
#13 Posted : Thursday, August 18, 2011 8:32:48 PM
Rank: Member

Joined: 7/12/2011
Posts: 194
Cost:Income ratio down 3.9% to stand at 46.22%, easily beating Diamond Trust Bank’s 51.4% which was until now the lowest of the NSE listed banks which have released their Half Year results

Subsidiaries contributed 38% more profit in 1H 2011 than they did in 1H 2010

2H though likely to be much tougher for NIC.

Infact, it seems that they have already started to suffer in Q2.

Expenses were up in Q2. Net Non Perfroming Laons were up 115% from the previous half year

NIC made slightly less profits in Q2 2011 than Q1 2011.

For more details, check out my blog

LINK: NIC BANK HALF YEAR 2011 ANALYSIS
LATEST BLOG POST: NSE BANKING SECTOR REPORT - THE TOP 5
FACEBOOK: Kenya Investing
TWITTER HANDLE: @kenyainvestor
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  | | Edit by user: Thursday, August 18, 2011 10:05 PM | Reason: Not specified
Cde Monomotapa
#14 Posted : Thursday, August 18, 2011 9:35:37 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Wow...I look forward to a KCB Group with a C.T.I.R of below 50%
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guru267
#15 Posted : Tuesday, October 11, 2011 4:57:13 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.


time to put your money where your mouth is..
Mark 12:29
Deuteronomy 4:16
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Sober
#16 Posted : Tuesday, October 11, 2011 6:02:58 PM
Rank: Elder

Joined: 11/27/2007
Posts: 3,604
guru267 wrote:
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.


time to put your money where your mouth is..


the sub-30 level has already been tested. I am waiting for a sub 28 so that i buy enough to bring my average to 30.00 because as it stands i am at 33.25.
This is the only counter that my broker can see on my balance sheet now.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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guru267
#17 Posted : Tuesday, October 11, 2011 6:25:02 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Sober wrote:
selah wrote:
@muganda I am waiting for it at sub 30/= which I think is over ambitious but possible.



I am waiting for a sub 28 so that i buy enough to bring my average to 30.00 because as it stands i am at 33.25


@Sober looks like you've joined the club.. NIC closed at 27.75.. Care to put your money where your mouth is??

www.wazua.co.ke/investor/latestprices.aspx
Mark 12:29
Deuteronomy 4:16
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  | | Edit by user: Tuesday, October 11, 2011 6:26 PM | Reason: Not specified
Gordon Gekko
#18 Posted : Tuesday, October 11, 2011 8:02:22 PM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
I can't help but pat myself in the back for dumping it at 55. I just wish CBK is compelled to name the 5 banks - it will be doing very low twenties.
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hisah
#19 Posted : Wednesday, October 12, 2011 6:20:45 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Gordon Gekko wrote:
I can't help but pat myself in the back for dumping it at 55. I just wish CBK is compelled to name the 5 banks - it will be doing very low twenties.

From 55 to 27.75 means almost 50% down. NBK too has sunk with similar margins. Waiting to see more carnage on bank stocks. Of course they'll be a time to buy them with an explosive rally to boot.

Moral of the story - when banks report outrageous profits e.g. 60%+ it's time to take cover & inflation spikes are just a few months away.

Where else have I spotted the same? China. What will happen to their bank stocks in 2012, downhill... And with a hot real estate... At the moment some gubberment investment firm is buying (PPT) the top 4 banks. Yap, gubberment wont let Mr Market selloff bank stocks. Shanghai & HSI (@young invests here) equities are slated for a rough 2012... The mood in Asia is being flagged the most by KOSPI. I expect a number of hedgefunds to short Asia after Europe in 2012.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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the deal
#20 Posted : Wednesday, October 12, 2011 7:31:23 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I feel bad I gave a recommendation on this stock but I never bought...sorry for everybody who bought but I outlined the risks that faced this counter in that report.
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