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KCB 2018 and Beyond
My 2 cents
#661 Posted : Wednesday, September 28, 2022 2:51:58 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
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.
Ericsson
#662 Posted : Wednesday, September 28, 2022 3:39:51 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,475
Location: NAIROBI
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
watesh
#663 Posted : Wednesday, September 28, 2022 6:45:37 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 930
Location: Kenya
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? Laughing out loudly Laughing out loudly Laughing out loudly 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.
Ericsson
#664 Posted : Wednesday, September 28, 2022 10:11:05 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,475
Location: NAIROBI
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? Laughing out loudly Laughing out loudly Laughing out loudly 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
VituVingiSana
#665 Posted : Friday, September 30, 2022 10:06:21 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,840
Location: Nairobi
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? Laughing out loudly Laughing out loudly Laughing out loudly 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
VituVingiSana
#666 Posted : Friday, September 30, 2022 10:09:56 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,840
Location: Nairobi
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? Laughing out loudly Laughing out loudly Laughing out loudly 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
Ericsson
#667 Posted : Saturday, October 29, 2022 8:23:41 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,475
Location: NAIROBI
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
watesh
#668 Posted : Sunday, October 30, 2022 4:20:57 PM
Rank: Veteran


Joined: 8/10/2014
Posts: 930
Location: Kenya
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
Ericsson
#669 Posted : Friday, November 04, 2022 7:03:36 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,475
Location: NAIROBI
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
Sir invest
#670 Posted : Wednesday, November 09, 2022 9:02:55 AM
Rank: Member


Joined: 8/19/2015
Posts: 115
Q3 results to be released on Friday.
Ericsson
#671 Posted : Wednesday, November 09, 2022 10:41:33 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,475
Location: NAIROBI
Sir invest wrote:
Q3 results to be released on Friday.


Time?
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Sufficiently Philanga....thropic
#672 Posted : Friday, November 11, 2022 9:55:14 AM
Rank: Elder


Joined: 9/23/2010
Posts: 2,171
Location: Sundowner,Amboseli

KCB to release Q3 results Wednesday next week (16th) after market!
Markets
My 2 cents
#673 Posted : Tuesday, November 15, 2022 6:14:52 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
Q3 net profit up 21%
Interim dividend of 1 bob.

But does anyone in Wazua care? Forum is near dead.
Sufficiently Philanga....thropic
#674 Posted : Tuesday, November 15, 2022 6:26:13 PM
Rank: Elder


Joined: 9/23/2010
Posts: 2,171
Location: Sundowner,Amboseli
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
Markets
My 2 cents
#675 Posted : Tuesday, November 15, 2022 7:03:22 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
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?
obiero
#676 Posted : Tuesday, November 15, 2022 7:44:41 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,186
Location: nairobi
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
My 2 cents
#677 Posted : Tuesday, November 15, 2022 8:29:23 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 922
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.
watesh
#678 Posted : Wednesday, November 16, 2022 8:44:12 AM
Rank: Veteran


Joined: 8/10/2014
Posts: 930
Location: Kenya
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
the deal
#679 Posted : Wednesday, November 16, 2022 1:46:35 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
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
heri
#680 Posted : Wednesday, November 16, 2022 2:19:14 PM
Rank: Member


Joined: 9/14/2011
Posts: 808
Location: nairobi
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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