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BBK FY 2018 final dividend 0.90 net profit up 7%
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xxxxx
#21 Posted : Saturday, March 23, 2019 2:07:55 PM
Rank: Member


Joined: 3/20/2008
Posts: 503
heri wrote:
Today I had to visit several banks to carry out some transactions

1) Coop bank at Tmall - virtually empty. No time spent in a queue
2)National Bank kenyatta avenue-similarly no queue at all
3)CBA near city Hall - same story. Zero time on the queue
4)Barclays Queens way - all seats taken up and its quite a big banking hall. Spent quite some time in the queue

Was left wondering. Does it mean BBK is still a popular bank?

I had this notion that people deserted banks like BBK.

Or is it just the branch location?





Isn't getting customers out of the banking hall the in-thing for most banks??
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sparkly
#22 Posted : Saturday, March 23, 2019 7:27:55 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
heri wrote:
Today I had to visit several banks to carry out some transactions

1) Coop bank at Tmall - virtually empty. No time spent in a queue
2)National Bank kenyatta avenue-similarly no queue at all
3)CBA near city Hall - same story. Zero time on the queue
4)Barclays Queens way - all seats taken up and its quite a big banking hall. Spent quite some time in the queue

Was left wondering. Does it mean BBK is still a popular bank?

I had this notion that people deserted banks like BBK.

Or is it just the branch location?





Most banks doing Mobile, Internet and Agency banking. BBK is the dinosaur
Life is short. Live passionately.
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VituVingiSana
#23 Posted : Saturday, March 23, 2019 8:32:32 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
heri wrote:
Today I had to visit several banks to carry out some transactions

1) Coop bank at Tmall - virtually empty. No time spent in a queue
2)National Bank kenyatta avenue-similarly no queue at all
3)CBA near city Hall - same story. Zero time on the queue
4)Barclays Queens way - all seats taken up and its quite a big banking hall. Spent quite some time in the queue

Was left wondering. Does it mean BBK is still a popular bank?

I had this notion that people deserted banks like BBK.

Or is it just the branch location?



Folks are emptying out their safe deposit lockers Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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xxxxx
#24 Posted : Monday, March 25, 2019 8:31:49 AM
Rank: Member


Joined: 3/20/2008
Posts: 503
VituVingiSana wrote:
heri wrote:
Today I had to visit several banks to carry out some transactions

1) Coop bank at Tmall - virtually empty. No time spent in a queue
2)National Bank kenyatta avenue-similarly no queue at all
3)CBA near city Hall - same story. Zero time on the queue
4)Barclays Queens way - all seats taken up and its quite a big banking hall. Spent quite some time in the queue

Was left wondering. Does it mean BBK is still a popular bank?

I had this notion that people deserted banks like BBK.

Or is it just the branch location?



Folks are emptying out their safe deposit lockers Laughing out loudly


Laughing out loudly Laughing out loudly Laughing out loudly
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Monk
#25 Posted : Thursday, May 02, 2019 11:19:53 AM
Rank: Member


Joined: 7/1/2009
Posts: 247
Why the sharp price drop today?
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Ericsson
#26 Posted : Thursday, May 02, 2019 11:26:10 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Monk wrote:
Why the sharp price drop today?


Ex dividend
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Monk
#27 Posted : Thursday, May 02, 2019 11:29:53 AM
Rank: Member


Joined: 7/1/2009
Posts: 247
Ericsson wrote:
Monk wrote:
Why the sharp price drop today?


Ex dividend


They allow over 10% price movement for Ex dividend? My broker's portal doesn't accept prices outside that limit :(
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Pesa Nane
#28 Posted : Thursday, May 30, 2019 10:58:37 AM
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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babashuge
#29 Posted : Thursday, May 30, 2019 8:46:30 PM
Rank: New-farer


Joined: 1/4/2019
Posts: 69
Location: Nairobi
Pesa Nane wrote:


I'm assuming this is something BBK can handle without breaking much sweat.
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VituVingiSana
#30 Posted : Thursday, May 30, 2019 9:42:19 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Pesa Nane wrote:

Is that KES 243mn per quarter for 8 quarters?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Angelica _ann
#31 Posted : Sunday, June 02, 2019 1:13:59 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
VituVingiSana wrote:
[quote=Pesa Nane]

Is that KES 243mn per quarter for 8 quarters?[/quote

the use of 'this' makes it specific to Q1-2019. I think the amounts will be variable per quarter.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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VituVingiSana
#32 Posted : Sunday, June 02, 2019 7:48:15 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Angelica _ann wrote:
VituVingiSana wrote:
Pesa Nane wrote:

Is that KES 243mn per quarter for 8 quarters?


the use of 'this' makes it specific to Q1-2019. I think the amounts will be variable per quarter.
"will be incurred throughout the separation period"
It may not be 243mn per quarter but somewhat similar. They said it will be a multi-billion affair!
243 x 8 = 2bn (approx)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Pesa Nane
#33 Posted : Sunday, June 02, 2019 11:07:25 PM
Rank: Elder


Joined: 5/25/2012
Posts: 4,105
Location: 08c
VituVingiSana wrote:
Angelica _ann wrote:
VituVingiSana wrote:
Pesa Nane wrote:

Is that KES 243mn per quarter for 8 quarters?


the use of 'this' makes it specific to Q1-2019. I think the amounts will be variable per quarter.
"will be incurred throughout the separation period"
It may not be 243mn per quarter but somewhat similar. They said it will be a multi-billion affair!
243 x 8 = 2bn (approx)

243mn is an actual re-branding cost incurred during 1Q19 - see exceptional items on PL statement
Cost can only escalate for 'ABSA' to be visible
Pesa Nane plans to be shilingi when he grows up.
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VituVingiSana
#34 Posted : Monday, June 03, 2019 3:10:27 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
I may have misread the article. I thought the estimated cost of the separation was 2bn spread over 8 quarters. They may not spend it equally each quarter but it would add to +/- 2bn.

In the grand scheme, it is not a lot of money for BBK:
1) 1Q19 PBT was 2.9bn so the full amount could be covered by a single normal quarter if they so chose.
2) Some costs may be covered/reimbursed by ABSA (SA).
3) Some costs are for upgraded systems which will benefit them for many more years.
4) Training costs on upgraded systems would have been a cost regardless of the separation.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#35 Posted : Monday, June 03, 2019 8:01:59 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
I may have misread the article. I thought the estimated cost of the separation was 2bn spread over 8 quarters. They may not spend it equally each quarter but it would add to +/- 2bn.

In the grand scheme, it is not a lot of money for BBK:
1) 1Q19 PBT was 2.9bn so the full amount could be covered by a single normal quarter if they so chose.
2) Some costs may be covered/reimbursed by ABSA (SA).
3) Some costs are for upgraded systems which will benefit them for many more years.
4) Training costs on upgraded systems would have been a cost regardless of the separation.


BBK have been restructuring since year 2000. Every 2 years they have had exceptional costs in their books. Meanwhile their profitability has fallen from a dominant position 1 to 9.

BBK is a typical case of management focussing on quarter on quarter profits growth instead of long term value creation. While other banks concentrate on current trends like banking Wanjiku, mobile banking and 24/7 customer support, BBK concentrates on costs reduction and spinning off divisions.

I am no seer but BBK's fortunes are in a downward spiral. Even ABSA will not save it from the spiral. I foresee an ultimate sale to one of the local banks, most likely to NIC-CBA.
Life is short. Live passionately.
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Angelica _ann
#36 Posted : Monday, June 03, 2019 8:22:47 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,901
sparkly wrote:
VituVingiSana wrote:
I may have misread the article. I thought the estimated cost of the separation was 2bn spread over 8 quarters. They may not spend it equally each quarter but it would add to +/- 2bn.

In the grand scheme, it is not a lot of money for BBK:
1) 1Q19 PBT was 2.9bn so the full amount could be covered by a single normal quarter if they so chose.
2) Some costs may be covered/reimbursed by ABSA (SA).
3) Some costs are for upgraded systems which will benefit them for many more years.
4) Training costs on upgraded systems would have been a cost regardless of the separation.


BBK have been restructuring since year 2000. Every 2 years they have had exceptional costs in their books. Meanwhile their profitability has fallen from a dominant position 1 to 9.

BBK is a typical case of management focussing on quarter on quarter profits growth instead of long term value creation. While other banks concentrate on current trends like banking Wanjiku, mobile banking and 24/7 customer support, BBK concentrates on costs reduction and spinning off divisions.

I am no seer but BBK's fortunes are in a downward spiral. Even ABSA will not save it from the spiral. I foresee an ultimate sale to one of the local banks, most likely to NIC-CBA.


I have noticed the same over the last 2 years. I have had this share for ages but i think it is time to move. No innovations, flat/declining profits compared to 'others'. Sentimentally it feels bad but it is the right thing to do. Destination Safcom!!! smile
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Ericsson
#37 Posted : Monday, June 03, 2019 9:28:47 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,639
Location: NAIROBI
Angelica _ann wrote:
sparkly wrote:
VituVingiSana wrote:
I may have misread the article. I thought the estimated cost of the separation was 2bn spread over 8 quarters. They may not spend it equally each quarter but it would add to +/- 2bn.

In the grand scheme, it is not a lot of money for BBK:
1) 1Q19 PBT was 2.9bn so the full amount could be covered by a single normal quarter if they so chose.
2) Some costs may be covered/reimbursed by ABSA (SA).
3) Some costs are for upgraded systems which will benefit them for many more years.
4) Training costs on upgraded systems would have been a cost regardless of the separation.


BBK have been restructuring since year 2000. Every 2 years they have had exceptional costs in their books. Meanwhile their profitability has fallen from a dominant position 1 to 9.

BBK is a typical case of management focussing on quarter on quarter profits growth instead of long term value creation. While other banks concentrate on current trends like banking Wanjiku, mobile banking and 24/7 customer support, BBK concentrates on costs reduction and spinning off divisions.

I am no seer but BBK's fortunes are in a downward spiral. Even ABSA will not save it from the spiral. I foresee an ultimate sale to one of the local banks, most likely to NIC-CBA.


I have noticed the same over the last 2 years. I have had this share for ages but i think it is time to move. No innovations, flat/declining profits compared to 'others'. Sentimentally it feels bad but it is the right thing to do. Destination Safcom!!! smile


Between 2013-2018 kcb and safaricom have tripled their dividend, BBK has remained flat
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#38 Posted : Tuesday, June 04, 2019 1:01:36 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,055
Location: Nairobi
Barclays ‘spent Sh479m to lay off workers in 2018’
https://www.businessdail...43818-ryknfb/index.html
The 2017 restructuring that saw 323 staff exit the bank.
2018: 479mn

"Sh387 million spent as part of a continuing process of separating from London-based Barclays Plc" - wasn't this 243mn?

At the rate BBK is shrinking its staff and network compared to its peers, it will soon be overtaken by Tier 2 banks!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Milefeyk
#39 Posted : Wednesday, June 26, 2019 11:03:57 PM
Rank: New-farer


Joined: 4/12/2019
Posts: 18
Finally somebody provided explanation how did Barclays managed to post such high profits in 2018. Simple and most stupid management solution is to lay off workers. I have never seen that this strategy is bringing some results in a long run, because it does not deal with real business problem
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FUNKY
#40 Posted : Thursday, June 27, 2019 10:31:21 AM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,635
Most banks are automating.. Even stanbic bank these days have only one cashier and to deposit money you have to use ATM if you don't want to stand in the queue but again that has its own disadvantages also like currently you cannot deposit new notes via ATM and all
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