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I&M Holdings - FY 2016
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VituVingiSana
#11 Posted : Tuesday, June 07, 2016 3:34:32 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,378
Location: Nairobi
Ericsson wrote:
The Indians are grouping under I&M bank in Kenya to provide them with a formidable institution for their financial needs.
Most of the big scale indian projects the financier is I&M bank.
Nothing spectacular here.
Next you will hear I&M acquiring Guardian Bank

Here you go again. There is no logic to your statement but you are entitled to your opinion.

What about DTB which is probably as big as I&M. Or Prime Bank. Weren't you the one who kept on arguing that Soundarajan (sp?) the "Mastermind" is on the board of GA Kenya?

Anyway, as I said, logic isn't something that everyone gets so let me leave it there.

@Aguy - With limited funds, I wonder whether Equity [at 35] or I&M [at 110] makes more sense. The 1Q 2016 numbers (excluding Rwanda and Mauritius) were quite good. The PER looks attractive.

I&M will have to pay out KES 2.5bn in cash hurting their Capital Adequacy Ratios though they will get some cash in 'exchange' for Giro Bank shares which will mitigate the hurt.

Equity is a behemoth and I love their DRC play which might even eclipse the South Sudan business by 2019. Kenya remains strong. Growth is expected in Uganda, Tanzania and Rwanda.

If I had enough cash, I would buy more of both!!!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#12 Posted : Tuesday, June 07, 2016 7:57:20 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
@VVS
DTB is mostly owned and run by the ismailis who are from Pakistan.
I have said I&M is going to be the main financier for big projects.
Go do a survey in places like westlands for the big commercial and housing projects ask who the fianancier is?
Go ask who is the financier for the big Indian contractors like Laxmanbhai,Kundan singh,PBS,Cementers,SS Mehta etc.
The same way Chinese use EXIM and China Development Bank,the Indians will now be using I&M.
That is how I&M is growing fast.

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#13 Posted : Tuesday, June 07, 2016 8:33:48 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,378
Location: Nairobi
Let's deal in facts.

Ericsson wrote:
@VVS
DTB is mostly owned and run by the ismailis who are from Pakistan.
I have said I&M is going to be the main financier for big projects.
Go do a survey in places like westlands for the big commercial and housing projects ask who the fianancier is?
So did you do a survey? Do you have verifiable facts?
Go ask who is the financier for the big Indian contractors like Laxmanbhai,Kundan singh,PBS,Cementers,SS Mehta etc.
Kundan Singh - KCB was the largest financier at 2.55bn. It was reported and KCB had to provide it as NPL. I&M at 1bn. All this information is in the public domain.
The same way Chinese use EXIM and China Development Bank,the Indians will now be using I&M.
EXIM banks of China is a multi-billion USD institution. I&M's equity is only $300mn.
That is how I&M is growing fast.



Facts please.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#14 Posted : Tuesday, June 07, 2016 8:40:56 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
@VVS
I have verifiable facts
For Kundan Singh KCB was the largest financier because the core capital and balance sheet at that time for I&M couldn't allow it to be the largest financier to Kundan singh.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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guru267
#15 Posted : Tuesday, June 07, 2016 11:30:41 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Ericsson wrote:
@VVS
DTB is mostly owned and run by the ismailis who are from Pakistan.


Now what sort of lies are these?? The Aga Khan himself is an Indian!
Mark 12:29
Deuteronomy 4:16
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Ericsson
#16 Posted : Tuesday, June 07, 2016 12:08:59 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,820
Location: NAIROBI
https://en.m.wikipedia.org/wiki/Aga_Khan
@guru267
Read above link about Aga Khan





Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#17 Posted : Tuesday, June 07, 2016 4:16:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,378
Location: Nairobi
LMAO... Questions: No matter who owns it...

So is I&M poised for profitable growth?
Is Equity a better buy vs I&M? [I own both but more I&M at the moment]
Is there a better value (banking) than either?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#18 Posted : Tuesday, June 07, 2016 10:34:24 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
VituVingiSana wrote:
LMAO... Questions: No matter who owns it...

So is I&M poised for profitable growth?
Is Equity a better buy vs I&M? [I own both but more I&M at the moment]
Is there a better value (banking) than either?


Politics above aside. I would grab equity at 35 vs I&M at 110. At that price equity is more expensive pe, PBT wise but like u said a behemoth, well oiled banking machine. Their NPLs impressed me greatly considering the turmoil for other banks. I'm going with Dtb and Equity. For the 3Rd bank I'm considering scbk vs I&M. Scbk coz its a non aggressive bank with good dividend, and coz Dtb is aggressive and similar size to I&M. In favour of I&M is the aggressive growth of a well run tier 2 bank. But sticking with the 2 for now.

What's the plan with the tripling of the authorized share capital 500m to 1.5bn? Hope not too dilutive for the shareholder going forward. Rights? Bonus would be yum yum! Acquisitions? Or new investors coming in?
This bank has direction, I like that
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Tuesday, June 07, 2016 10:37 PM | Reason: Not specified
chiaroscuro
#19 Posted : Wednesday, June 08, 2016 8:44:47 AM
Rank: Veteran

Joined: 2/2/2012
Posts: 1,134
Location: Nairobi
Ericsson wrote:
The Indians are grouping under I&M bank in Kenya to provide them with a formidable institution for their financial needs.
Most of the big scale indian projects the financier is I&M bank.
Nothing spectacular here.
Next you will hear I&M acquiring Guardian Bank


Tribalism will kill us!

The people you are calling Indians are actually Kenyans!

What has their ethnicity got to do with anything?
I have in front of me the financial statement of I & M H, 2015. It is signed by one Daniel Ndonye - Chairman.

The group recently appointed Kihara Maina as CEO

Which Indians are you talking about?
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Pesa Nane
#20 Posted : Thursday, August 18, 2016 10:08:54 PM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Pesa Nane plans to be shilingi when he grows up.
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