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Coop Bank FY17
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Pesa Nane
#1 Posted : Thursday, March 15, 2018 10:37:24 AM
Rank: Elder

Joined: 5/25/2012
Posts: 4,105
Location: 08c
Quote:

Co-operative bank's profit marginally drops to Ksh. 11bn

NAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016.

Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016.

Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered.
Pesa Nane plans to be shilingi when he grows up.
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Ericsson
#2 Posted : Thursday, March 15, 2018 11:16:24 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Pesa Nane wrote:
Quote:

Co-operative bank's profit marginally drops to Ksh. 11bn

NAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016.

Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016.

Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered.


Profit before tax at sh.16.4bn
Group net interest income of sh.28.1bn versus 29.5bn in 2016
Dividend at sh.0.80

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Pesa Nane
#3 Posted : Thursday, March 15, 2018 12:09:34 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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Ebenyo
#4 Posted : Thursday, March 15, 2018 1:16:48 PM
Rank: Veteran

Joined: 4/4/2016
Posts: 2,016
Location: Kitale
Pesa Nane wrote:
Quote:

Co-operative bank's profit marginally drops to Ksh. 11bn

NAIROBI, KENYA; Co-operative Bank Group has recorded 7.3 percent drop in profit last year due to challenging economic environment compared to 2016.

Profit before tax slowed to Sh11.4 billion compared to Sh12.7 billion recorded in 2016.

Co-operative Bank of South Sudan that is a unique Joint Venture (JV) partnership with Government of South Sudan (Co-op Bank 51 percent and GOSS 49 percent) made a profit before tax (PBT) of South Sudanese Pounds (SSP) 192 Million which was 135 percent higher than the SSP 82 Million posted in 2016.T “This performance however translated to a monetary loss of Shs603 million in 2017 attributable to hyperinflation accounting occasioned by currency devaluation of the South Sudanese Pound,” said Gideon Muriuki, Group Managing Director. The bank said that Key focus on digital banking, with the all-telco Mco-op Cash Mobile Wallet continues to play a pivotal role in the growth of non-funded income with over 3.6 Million customers registered.



The joint venture idea with GOSS was good.In the long run it will pay well for co-op.
Towards the goal of financial freedom
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mlennyma
#5 Posted : Thursday, March 15, 2018 2:55:49 PM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Reactions show unsatisfied shareholders expectations
"Don't let the fear of losing be greater than the excitement of winning."
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Realtreaty
#6 Posted : Thursday, March 15, 2018 9:35:53 PM
Rank: Elder

Joined: 8/16/2011
Posts: 2,386
PERFECT

Given that we earned share bonuses last FY16 and now we get the same dividends i support the growth trajectory as the stock is very much undervalued given Coop bank is a bank of Kenya that is doing great.
I have no eyes to see any negative results and I support forward buying.
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Ericsson
#7 Posted : Thursday, March 15, 2018 10:11:16 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Investment in government Securities increased from sh.57bn to 69bn.
Interest income from them declined from sh.8.5bn to 8.2bn.
Banks which had looked at government Securities as safe haven
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#8 Posted : Sunday, March 18, 2018 10:15:27 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...47066-7s6dic/index.html

Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#9 Posted : Thursday, May 03, 2018 10:29:01 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
Dividend book closure is tomorrow May 4 2018.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#10 Posted : Thursday, May 10, 2018 4:23:28 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
https://www.businessdail...54114-jpdklz/index.html

“During the year, HFC Limited received… two short term notes from NIC Bank Limited Sh500 million and Co-operative Bank of Kenya Limited Sh300 million at a rate of 14 and 13 per cent respectively for one year,” HF says in the report.
The obligations had grown to Sh517.3 million on the NIC loan and Sh309.6 million (Co-op Bank) as of December 2017.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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