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129 Pages«<125126127128129>
Kenya Economy Watch
Ericsson
#2521 Posted : Friday, May 29, 2020 8:58:03 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Ericsson wrote:
Ericsson wrote:
Amount of loans banks have restructured so far;
Equity bank ksh.92b
KCB ksh.115.1bn
NCBA ksh.35bn
CO-OP bank sh.15.3bn
ABSA ksh.30bn
Standard chartered ksh.21bn
DTB Ksh.40.7bn


ABSA kenya restructured 30,000 loan accounts


Stanchart figure adjusted after release of Q1 results
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
rwitre
#2522 Posted : Wednesday, June 03, 2020 2:17:42 PM
Rank: Member


Joined: 3/8/2018
Posts: 457
Location: Nairobi
Most African Currencies Undervalued After Covid-19. These Are the Exceptions

Source: Bloomberg

Quote:
The first-quarter rout in emerging-market assets has left most African currencies undervalued -- with three exceptions: the Egyptian pound, Nigerian naira and Kenyan shilling.

Egypt’s currency leads the trio: it is 16% overvalued, as measured by its current real effective exchange rate relative to the five-year average. By that measure, the naira is 10% overvalued and the shilling 8%, according to data compiled by Bloomberg. Nigeria and Egypt have managed floats, while the shilling is a free-floating currency that sees occasional central-bank intervention.”
Ericsson
#2523 Posted : Wednesday, June 10, 2020 4:23:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Ericsson wrote:
Ericsson wrote:
Ericsson wrote:
Amount of loans banks have restructured so far;
Equity bank ksh.92b
KCB ksh.120bn
NCBA ksh.35bn
CO-OP bank sh.15.3bn
ABSA ksh.53bn
Standard chartered ksh.21bn
DTB Ksh.40.7bn


ABSA kenya restructured 30,000 loan accounts


Stanchart figure adjusted after release of Q1 results


Absa kenya has restructured 50,000 business loans worth ksh.53bn

Total is now ksh.377bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2524 Posted : Thursday, June 25, 2020 5:46:19 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
As per CBK monetary policy committee briefing today;
Total restructured loans at ksh.679.6bn
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2525 Posted : Friday, June 26, 2020 12:02:34 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Dividend cut for the listed banking stocks.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Horton
#2526 Posted : Friday, June 26, 2020 12:22:08 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Ericsson wrote:
Dividend cut for the listed banking stocks.


This already happened in FY except KCB
Kenyan Oracle
#2527 Posted : Friday, June 26, 2020 12:51:11 PM
Rank: Member


Joined: 5/31/2011
Posts: 192
Horton wrote:
Ericsson wrote:
Dividend cut for the listed banking stocks.


This already happened in FY except KCB


Really? Received all for Coop & ABSA
You lose money chasing women, but you never lose women chasing money - NAS
Ericsson
#2528 Posted : Friday, June 26, 2020 1:01:20 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Kenyan Oracle wrote:
Horton wrote:
Ericsson wrote:
Dividend cut for the listed banking stocks.


This already happened in FY except KCB


Really? Received all for Coop & ABSA


Beginning interim dividend on HY 2020 results
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2529 Posted : Monday, June 29, 2020 9:51:35 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Ericsson wrote:
Kenyan Oracle wrote:
Horton wrote:
Ericsson wrote:
Dividend cut for the listed banking stocks.


This already happened in FY except KCB


Really? Received all for Coop & ABSA


Beginning interim dividend on HY 2020 results


Even safaricom may reduce its dividend
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
obiero
#2530 Posted : Monday, June 29, 2020 10:41:49 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,853
Location: nairobi
Ericsson wrote:
Ericsson wrote:
Kenyan Oracle wrote:
Horton wrote:
Ericsson wrote:
Dividend cut for the listed banking stocks.


This already happened in FY except KCB


Really? Received all for Coop & ABSA


Beginning interim dividend on HY 2020 results


Even safaricom may reduce its dividend

It is possible
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
Ericsson
#2531 Posted : Monday, June 29, 2020 11:30:54 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Credit bank is intending to do a rights issue of 2 for every 3 shares
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Angelica _ann
#2532 Posted : Monday, June 29, 2020 11:49:46 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,720
Ericsson wrote:
Credit bank is intending to do a rights issue of 2 for every 3 shares


Hiyo ni ya wenyewe!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
watesh
#2533 Posted : Tuesday, June 30, 2020 10:05:37 AM
Rank: Member


Joined: 8/10/2014
Posts: 853
Location: Kenya
Ericsson wrote:
Credit bank is intending to do a rights issue of 2 for every 3 shares

Cash crunch in small banks.
Angelica _ann
#2534 Posted : Tuesday, June 30, 2020 1:28:10 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,720
watesh wrote:
Ericsson wrote:
Credit bank is intending to do a rights issue of 2 for every 3 shares

Cash crunch in small banks.


Reminds you of Mwalimu Bank shenanigans.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
Kusadikika
#2535 Posted : Wednesday, July 08, 2020 4:11:41 PM
Rank: Elder


Joined: 7/22/2008
Posts: 2,682
It costs Ksh.85 to produce a kilo of sugar in Kenya. The same kilo of sugar can be imported for Ksh. 60!!!! Unless you put up an impenetrable wall around Kenya's borders you cannot stop the flow of sugar against such a price gradient. Years of mismanagement, underinvestment and political tokenism cannot be cured with a ban.

https://www.nation.co.ke...-on-cheap-sugar--1419426
Ericsson
#2536 Posted : Wednesday, July 08, 2020 6:21:30 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
[quote=Kusadikika]It costs Ksh.85 to produce a kilo of sugar in Kenya. The same kilo of sugar can be imported for Ksh. 60!!!! Unless you put up an impenetrable wall around Kenya's borders you cannot stop the flow of sugar against such a price gradient. Years of mismanagement, underinvestment and political tokenism cannot be cured with a ban.

https://www.nation.co.ke...on-cheap-sugar--1419426[/quote]

That was a political declaration
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2537 Posted : Saturday, September 05, 2020 4:38:06 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
Top commercial banks want loan interest rates to go up.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2538 Posted : Sunday, September 06, 2020 10:04:58 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
https://nation.africa/ke...t-region-economy-1932556
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2539 Posted : Friday, September 11, 2020 10:53:34 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,134
Location: NAIROBI
https://www.bloomberg.co...o-brace-for-dim-outlook

Kenya’s two biggest banks are probably over the worst as far as potential loan losses go, but may still struggle to boost revenue in the wake of the coronavirus pandemic, according to AIB-AXYS Africa.

Equity Group Holdings Plc increased first-half provisions eightfold, while KCB Group Plc’s rose almost four times from a year earlier, hurting earnings. The nation’s lenders are helping customers restructure their debt after the Covid-19 outbreak stalled economic output and shut schools.

The lenders took an aggressive approach to provisions to avoid setting aside more funds during the rest of 2020, said Sarah Wanga, head of research at the Nairobi-based brokerage that was formed out of the merger of AIB Capital Ltd. and ApexAfrica Capital Ltd. Profit will continue to come under pressure due to the expected loan losses and a limit on transaction fees banks can charge, she said.

Taking Pain

Kenya's biggest banks have set aside more funds for doubtful debt

Source: Company filings
Other lenders, such as Co-operative Bank of Kenya, which took a more conservative approach to provisions, may have to bolster these later in the year, Gerald Muriuki, an analyst at Genghis Capital said.

As a result, profitability across the sector “is going to vary,” he said.

Profit Pressure

Large provisions have taken the shine off Kenyan bank profits
“There is not much lending that is going to happen this year,” which will result in “depressed interest-income line growth” Muriuki said. Non-interest revenue will suffer after the central bank extended measures waiving some transaction fees for customers until the end of the year, he said.

Kenya’s economy will probably expand 1% to 2% this year, the parliamentary office said on Wednesday. While that’s better than earlier forecasts for a contraction, the slower growth may weigh on the ability of borrowers to repay their debt and suppress demand for loans.

While revenue growth at Equity and Co-op was relatively muted, KCB managed a 17% increase as Kenya’s biggest bank by assets invested in less risky government securities, which jumped 65% during the first half.


Slow Going

KCB's revenue growth outpaced rivals as income from holding goverment debt jumped

Source: Company filings

Note: Revenue made up of net interest income and non-interest revenue

While the top banks are flush with cash, they’re unlikely to pay any dividends this year unless there is a change in their performance in the second half, according to Faith Mwangi, a Nairobi-based investment analyst at Tellimer Inc.

Equity and KCB have a core-capital to total-liabilities ratio of 12.3% and 9.5% respectively, above the 8% minimum. NCBA Group Plc had a liquidity ratio of 54.9% at the end of June, far above the 20% regulators require.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
aemathenge
#2540 Posted : Saturday, September 12, 2020 9:46:04 AM
Rank: Elder


Joined: 10/18/2008
Posts: 3,356
Location: Kerugoya
FRIDAY, SEPTEMBER 11, 2020

This week we heard that “my job is not to fight corruption, my job is to provide healthcare.

It’s important for that distinction to be clear…that I’m not here to fight corruption…”

Unsurprisingly, quite a few are resigned to the idea that Kenya isn’t a country (or a nation), it’s a business (IBEA Company, anyone?).

Our statements explain our corruption pathology better than any official and officious action.

Therein lies the underpinning of Kenya’s three-part economy:

The bandit economy at the top, the bubble economy in the middle, and the “kadogo” economy of our fast growing precariat.

That the Senate this week termed the much-vaunted managed medical equipment scheme a “criminal enterprise” says it all.

That Covid-19 has ravaged our bubble and kadogo economies while our #Covidmillionaire bandits prevail is as bad as it gets on our road to perdition and ultimate dystopia.

Source: The Business Daily. Link: https://www.businessdail...22042-14rooau/index.html
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