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KCB 2018 and Beyond
Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson  Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are Exactly. Also apples to apples is the total asset book for KCB vs EQTY and the composition of the respective books. Plus IBL is about to be absorbed
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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obiero wrote:Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are Exactly. Also apples to apples is the total asset book for KCB vs EQTY and the composition of the respective books. Plus IBL is about to be absorbed True that! Funny how EPS here 7.9 and price=38/- EABL EPS=7 & change and price is 170/- I know industry and blah blah but just making an observation
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Rank: Member Joined: 6/15/2013 Posts: 301
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Horton wrote:obiero wrote:Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are Exactly. Also apples to apples is the total asset book for KCB vs EQTY and the composition of the respective books. Plus IBL is about to be absorbed True that! Funny how EPS here 7.9 and price=38/- EABL EPS=7 & change and price is 170/- I know industry and blah blah but just making an observation KCB has about 3Bn issued shares. EABL around 0.7Bn issued shares. These numbers are one of the factors that affect share price hence the difference you have noted.
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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mulla wrote:Horton wrote:obiero wrote:Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are Exactly. Also apples to apples is the total asset book for KCB vs EQTY and the composition of the respective books. Plus IBL is about to be absorbed True that! Funny how EPS here 7.9 and price=38/- EABL EPS=7 & change and price is 170/- I know industry and blah blah but just making an observation KCB has about 3Bn issued shares. EABL around 0.7Bn issued shares. These numbers are one of the factors that affect share price hence the difference you have noted. True. It's the shares issued that primarily drives the pricing in that comparative example
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are What explanation did they give for the increase in NNPL? I haven't had the time to pore through those numbers. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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lochaz-index wrote:Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are What explanation did they give for the increase in NNPL? I haven't had the time to pore through those numbers. Equity? They didn’t say
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Rank: Veteran Joined: 9/18/2014 Posts: 1,127
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Horton wrote:lochaz-index wrote:Horton wrote:obiero wrote:Muthawamunene wrote:obiero wrote:Ericsson wrote:KCB Q3 2018;
Profit before tax at ksh.25.6bn 14% growth compared to previous year
Profit After Tax at ksh.18.04bn;20% growth compared to previous year
The Group’s balance sheet improved by 6% to Sh684.2B from Sh643.8B in 2017, with deposits growing by a similar margin to Sh526.8B from Sh496.3Bn.
Net loans and advances were up 4% to Sh435.3B from Sh419.5B while long term funding stood at Sh20.7B from the previous period’s Sh14.4B.
Investment in Government and other securities grew to ksh.119.7bn compared to 103.6bn in a similar period last year Great news @ericsson Subjective profit here. Subjective in that it is derived from the subjective assessment of loan loss provision. If one was to compare with equity, it would have to be done on the basis of interest income and not profit. Otherwise, we cross fingers for a good dividend this year and pray that the provision will not be subjectively revised upwards in the future. IFRS 9 used as the measure in provision determination.. If massive recoveries have been effected through auctions, why would simba not reduce its provisions Apples to apples KCB LLP in H1 = 18.2B Equity= 5.9B I am yet to see KCBs Q3 but one of the reasons I sold EQTY was their profit increased as the NET NPL exposure from H2 to Q3 increased from 267m to 2.4B. I felt this was just to spruce up the numbers. Also annualized EPS KCB 7.9 vs 5.3 for EQTY yet EQUITY trades at a higher price. Simba is going strong! Solid numbers these are What explanation did they give for the increase in NNPL? I haven't had the time to pore through those numbers. Equity? They didn’t say I'm definitely not a fan of the latest round of slashing provisions to boost the bottom line contrary to macro winds. That said, I still favour Equity over Kcb as it has a more amenable balance sheet is defensive (liquidity preference) for the time being but can easily be flipped to pro-risk as and when such is necessitated by the market. The main purpose of the stock market is to make fools of as many people as possible.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Hmmm am I reading this right? According to Q3 unaudited result, there was a 1/- dividend declared? https://kcbgroup.com/wp-...ancials_Publication.pdf
I haven’t heard them declare it. Was this a typo?
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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@elder Obiero Saidia hapa.What is the message from exchange bar on the ksh.1 dividend declared Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Thats the interim dividend declared at half year. Last year (Q3 2017) I was also as confused with this presentation
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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mwekez@ji wrote:Thats the interim dividend declared at half year. Last year (Q3 2017) I was also as confused with this presentation yes yes Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 5/19/2014 Posts: 68 Location: Migori
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Can someone please explain to me like a two year old the difference between "Bank" "Company" and "Group" as outlined in the KCB structure. Learning to sit on my hands
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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ombaalbt wrote:Can someone please explain to me like a two year old the difference between "Bank" "Company" and "Group" as outlined in the KCB structure. Group includes other entities that are non-banking like the insurance arm and stockbroking division. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Member Joined: 10/14/2011 Posts: 661
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Ericsson wrote:ombaalbt wrote:Can someone please explain to me like a two year old the difference between "Bank" "Company" and "Group" as outlined in the KCB structure. Group includes other entities that are non-banking like the insurance arm and stockbroking division. and all entities whether banking or non-banking are corporate companies
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Why did Cytonn sell remains my only question. Any price below KES 48 for KCB is a 'fraud'.. Added more today
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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obiero wrote:Why did Cytonn sell remains my only question. Any price below KES 48 for KCB is a 'fraud'.. Added more today They bought. Didn’t sell should reflect on their next report
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Horton wrote:obiero wrote:Why did Cytonn sell remains my only question. Any price below KES 48 for KCB is a 'fraud'.. Added more today They bought. They sold NIC and bought KCB and should reflect on their next report
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Ericsson wrote:mwekez@ji wrote:Thats the interim dividend declared at half year. Last year (Q3 2017) I was also as confused with this presentation yes yes Ok got it looks like it’s cumulative for the year
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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