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KCB 2018 and Beyond
Rank: Veteran Joined: 6/2/2010 Posts: 962
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Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more.
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Rank: Elder Joined: 12/4/2009 Posts: 10,555 Location: NAIROBI
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My 2 cents wrote:Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more. KCB and Equity to come slowly Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 935 Location: Kenya
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My 2 cents wrote:Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more. Still bitter about that TMB acquisition?  It was their only option since Equity snapped up the other big bank in the country. TMB could charge whatever they want and KCB was thirsty for that market.
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Rank: Elder Joined: 12/4/2009 Posts: 10,555 Location: NAIROBI
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watesh wrote:My 2 cents wrote:Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more. Still bitter about that TMB acquisition? It was their only option since Equity snapped up the other big bank in the country. TMB could charge whatever they want and KCB was thirsty for that market. Don't be too quick to be bitter. The venture may turn out to be successful till the price may look cheap. Look at the amount of additional capital Equity is pumping into BCDC with no increase in shareholding Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 17,890 Location: Nairobi
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watesh wrote:My 2 cents wrote:Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more. Still bitter about that TMB acquisition? It was their only option since Equity snapped up the other big bank in the country. TMB could charge whatever they want and KCB was thirsty for that market. Mwangi (Owner) > Oigara (Management with $3mn pay) Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 17,890 Location: Nairobi
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Ericsson wrote:watesh wrote:My 2 cents wrote:Ericsson wrote:My 2 cents wrote:obiero wrote:My 2 cents wrote:obiero wrote:Ericsson wrote:My 2 cents wrote:Sir invest wrote:The KCB share coming down like a thunder now @39 bob what's wrong? Disappointment over lack of interim dividend. All the cash will be spent acquiring the DRC bank. Then right after that they will probably come up with another target for acquisition. These are the new cash cows. Over paying for these acquisitions. Poor corporate governance is the bane of our NSE. One more acquisition to go in Ethiopia then consolidation begins. The dividend policy is catering for this acquisition so probably after they are done the payout ratio will go up True. Though with a forecasted profitability I'm excess of KES 60B, there is no reason not to sustain or increase the final dividend payout Don't you think they will revisit Tanzania? The last attempt having failed? What happens if the local banks in the foreign countries(as has happened in Kenya) suddenly have business advantage because of nationalism? Most governments across the world aren't keen on running banks, actually some governments across EA are the ones giving up ownership stakes to the takeovers By nationalism I did not mean governments taking over the banks. I meant citizens preferring to deal with their own local banks. In other news, Ethiopia caps foreign ownership of local banks to 30% https://kenyanwallstreet...holding-in-banks-at-30/ Better start a greenfield operation then later on when acquisition ceiling is raised to 80-100% make an acquisition Am totally ok with the 30% cap. That tempers KCBs ambitions down until the business in Ethiopia is proven. History is replete with cash drunk management teams making nonsensical acquisitions at above market prices. Let them show us the pay off from recent acquisitions before they make more. Still bitter about that TMB acquisition? It was their only option since Equity snapped up the other big bank in the country. TMB could charge whatever they want and KCB was thirsty for that market. Don't be too quick to be bitter. The venture may turn out to be successful till the price may look cheap. Look at the amount of additional capital Equity is pumping into BCDC with no increase in shareholding How much additional Tier 1 capital has Equity pumped in? What was the % ownership BEFORE the Tier 1 Capital was pumped in? What is the % ownership AFTER the Tier 1 Capital was pumped in? And if the other shareholders of Equity DRC pump In their share (of a Rights Issue) then the shareholding of Equity should not change. That is simple logic. No rocket science required. What's key is the RoE/RoI on the additional capital. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,555 Location: NAIROBI
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KCB has started laying the groundwork for Ethiopia entry by a visit to Deputy commissioner of the Ethiopia Investment commission by the Chairman Andrew Kairu,Group CEO Paul Russo and Group CFO Lawrence Kiambi. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 8/10/2014 Posts: 935 Location: Kenya
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Ericsson wrote:KCB has started laying the groundwork for Ethiopia entry by a visit to Deputy commissioner of the Ethiopia Investment commission by the Chairman Andrew Kairu,Group CEO Paul Russo and Group CFO Lawrence Kiambi. These guys are hungry for expansion. Another year of small dividends
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Rank: Elder Joined: 12/4/2009 Posts: 10,555 Location: NAIROBI
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watesh wrote:Ericsson wrote:KCB has started laying the groundwork for Ethiopia entry by a visit to Deputy commissioner of the Ethiopia Investment commission by the Chairman Andrew Kairu,Group CEO Paul Russo and Group CFO Lawrence Kiambi. These guys are hungry for expansion. Another year of small dividends 30% payout which will be in around ksh.3.5 per share Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 8/19/2015 Posts: 119
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Q3 results to be released on Friday.
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Rank: Elder Joined: 12/4/2009 Posts: 10,555 Location: NAIROBI
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Sir invest wrote:Q3 results to be released on Friday. Time? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 9/23/2010 Posts: 2,213 Location: Sundowner,Amboseli
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KCB to release Q3 results Wednesday next week (16th) after market! @SufficientlyP
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Rank: Veteran Joined: 6/2/2010 Posts: 962
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Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead.
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Rank: Elder Joined: 9/23/2010 Posts: 2,213 Location: Sundowner,Amboseli
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My 2 cents wrote:Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23@SufficientlyP
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Rank: Veteran Joined: 6/2/2010 Posts: 962
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Sufficiently Philanga....thropic wrote:My 2 cents wrote:Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 Where can we find the full set of results. Dividend payment date?
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Rank: Elder Joined: 6/23/2009 Posts: 13,237 Location: nairobi
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My 2 cents wrote:Sufficiently Philanga....thropic wrote:My 2 cents wrote:Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 Where can we find the full set of results. Dividend payment date? https://www.nse.co.ke/wp...od-Ended-30-Sep-2022.pdf
COOP 5,500 ABP12.6; HF 286,000 ABP 3.49; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Veteran Joined: 6/2/2010 Posts: 962
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obiero wrote:My 2 cents wrote:Sufficiently Philanga....thropic wrote:[quote=My 2 cents]Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 Where can we find the full set of results. Dividend payment date? https://www.nse.co.ke/wp...d-Ended-30-Sep-2022.pdf[/quote] Great. Thanks.
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Rank: Veteran Joined: 8/10/2014 Posts: 935 Location: Kenya
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Sufficiently Philanga....thropic wrote:My 2 cents wrote:Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 KCB annualized its EPS in these quarterly results. So FY EPS should be in the same range
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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watesh wrote:Sufficiently Philanga....thropic wrote:My 2 cents wrote:Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 KCB annualized its EPS in these quarterly results. So FY EPS should be in the same range Just dropped my notes on this stock here https://davismika.substa...b-group-q3-2022-earnings
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Rank: Member Joined: 9/14/2011 Posts: 816 Location: nairobi
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the deal wrote:watesh wrote:Sufficiently Philanga....thropic wrote:[quote=My 2 cents]Q3 net profit up 21%
Interim dividend of 1 bob.
But does anyone in Wazua care? Forum is near dead. Q3 2022 EPS 12.64 VS Q3 2021 EPS 10.44 Projected FY EPS = 16.85 Projected P/E Ratio at current MPS of 37.65 is 2.23 KCB annualized its EPS in these quarterly results. So FY EPS should be in the same range Just dropped my notes on this stock here https://davismika.substa...-group-q3-2022-earnings[/quote] You think they will pay dividend of 4 bob even with the DRC acquisition?
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