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Equity Bank 2020
Horton
#21 Posted : Tuesday, May 26, 2020 6:00:16 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,528
Location: Nairobi
Angelica _ann wrote:
obiero wrote:
Wakanyugi wrote:
obiero wrote:
Sufficiently Philanga....thropic wrote:
littledove wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/news/Equity-halts-Sh9-billion-dividend-on-Corona-fears/539546-5563718-qsnb18/index.html

Equity Group has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic.

“Accordingly, the board has passed a resolution withdrawing the proposed dividend recommendation and instead will be recommending to the shareholders that no dividend is paid for the financial year ended 31st December, 2019,” Equity said in a statement. “Therefore, the shareholders of the company and other investors are advised to exercise caution when dealing in the company’s ordinary shares on the Nairobi Securities Exchange, the Uganda Securities Exchange and the Rwanda Stock Exchange.”



This is fraud smile

possibly true, somebody want in at a low price, the heavy local demand for the last one month which pushed price to 42 shows somebody desperately purchasing below 40

That was a fund buying.
They will seize this golden opportunity to load up some more.

Nothing like a golden opportunity. Failure to pay a dividend isn't a positive sign



Et tu Obiero?

Surely, how is preserving cash in order to survive hard, uncertain, times a negative sign?


Shows lack of depth in reserves. How come its peers are paying?


They should have paid reduced dividend amount, not nothing/nil - kwanza after initially declaring a good juicy amount of Kshs. 2.5 bob.



My bet is KCB will pay. Gava has already budgeted for this chapaa 😀😀
sparkly
#22 Posted : Tuesday, May 26, 2020 6:29:41 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,804
Location: Enk are Nyirobi
Angelica _ann wrote:
obiero wrote:
Wakanyugi wrote:
obiero wrote:
Sufficiently Philanga....thropic wrote:
littledove wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/news/Equity-halts-Sh9-billion-dividend-on-Corona-fears/539546-5563718-qsnb18/index.html

Equity Group has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic.

“Accordingly, the board has passed a resolution withdrawing the proposed dividend recommendation and instead will be recommending to the shareholders that no dividend is paid for the financial year ended 31st December, 2019,” Equity said in a statement. “Therefore, the shareholders of the company and other investors are advised to exercise caution when dealing in the company’s ordinary shares on the Nairobi Securities Exchange, the Uganda Securities Exchange and the Rwanda Stock Exchange.”



This is fraud smile

possibly true, somebody want in at a low price, the heavy local demand for the last one month which pushed price to 42 shows somebody desperately purchasing below 40

That was a fund buying.
They will seize this golden opportunity to load up some more.

Nothing like a golden opportunity. Failure to pay a dividend isn't a positive sign



Et tu Obiero?

Surely, how is preserving cash in order to survive hard, uncertain, times a negative sign?


Shows lack of depth in reserves. How come its peers are paying?


They should have paid reduced dividend amount, not nothing/nil - kwanza after initially declaring a good juicy amount of Kshs. 2.5 bob.


Only the middle class is being f***ed by Covid19!

The rich are secure in their needs, they can even afford to give some of their money e.g. James Mwangi's personal donation of kshs 300m.

The poor are getting donations from NGOs and cash transfers from GOK.

The middle class are losing their jobs, being denied minority dividends and getting nil assistance from NGOs and GOK.

Cry the middle class
Life is short. Live passionately.
Angelica _ann
#23 Posted : Tuesday, May 26, 2020 7:32:28 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,600
This is very bad precedent by Equity, very very bad.

Disclaimer, i hold no member shares, sold all in the recent rally and i said as much here.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
obiero
#24 Posted : Tuesday, May 26, 2020 8:15:34 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,767
Location: nairobi
Angelica _ann wrote:
This is very bad precedent by Equity, very very bad.

Disclaimer, i hold no member shares, sold all in the recent rally and i said as much here.

The fact is that they hold very little in tangible assets or reserves.. Most of their assets aren't in property unlike it's peers
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
wukan
#25 Posted : Tuesday, May 26, 2020 8:42:28 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,408
sparkly wrote:


Only the middle class is being f***ed by Covid19!

The rich are secure in their needs, they can even afford to give some of their money e.g. James Mwangi's personal donation of kshs 300m.

The poor are getting donations from NGOs and cash transfers from GOK.

The middle class are losing their jobs, being denied minority dividends and getting nil assistance from NGOs and GOK.

Cry the middle class


This will be the narrative of the 2020's decade. covid19 stress test is going to shake middle class good and proper. Already in 2 months they are hawking vegetables from the back of BMWs and Subarus.

Middle class will have to trim the fat both financially and physically or retire into penury. I see everyone is now out running in the morning(same folks that were driving to the gym to walk on the treadmill). They are now removing parking lots in CBD and installing bike lanes.

Middle class will have to move back near the inner city or within walking distance to work, bike to work, carry packed lunch and start going for the old fashioned entertainment.

The poor need to be kept busy with bread and circus(political entertainment). Middle class can go hangsmile
Ericsson
#26 Posted : Tuesday, May 26, 2020 9:08:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 8,566
Location: NAIROBI
obiero wrote:
Angelica _ann wrote:
This is very bad precedent by Equity, very very bad.

Disclaimer, i hold no member shares, sold all in the recent rally and i said as much here.

The fact is that they hold very little in tangible assets or reserves.. Most of their assets aren't in property unlike it's peers


True
Horton
#27 Posted : Tuesday, May 26, 2020 9:40:43 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,528
Location: Nairobi
Ericsson wrote:
obiero wrote:
Angelica _ann wrote:
This is very bad precedent by Equity, very very bad.

Disclaimer, i hold no member shares, sold all in the recent rally and i said as much here.

The fact is that they hold very little in tangible assets or reserves.. Most of their assets aren't in property unlike it's peers


True


As one of the media houses speculated.....perhaps it’s to save money for an acquisition possibly in DRC
Wakanyugi
#28 Posted : Wednesday, May 27, 2020 1:59:38 PM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,624
obiero wrote:
Wakanyugi wrote:
obiero wrote:
Sufficiently Philanga....thropic wrote:
littledove wrote:
Angelica _ann wrote:
Ericsson wrote:
https://www.businessdailyafrica.com/news/Equity-halts-Sh9-billion-dividend-on-Corona-fears/539546-5563718-qsnb18/index.html

Equity Group has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic.

“Accordingly, the board has passed a resolution withdrawing the proposed dividend recommendation and instead will be recommending to the shareholders that no dividend is paid for the financial year ended 31st December, 2019,” Equity said in a statement. “Therefore, the shareholders of the company and other investors are advised to exercise caution when dealing in the company’s ordinary shares on the Nairobi Securities Exchange, the Uganda Securities Exchange and the Rwanda Stock Exchange.”



This is fraud smile

possibly true, somebody want in at a low price, the heavy local demand for the last one month which pushed price to 42 shows somebody desperately purchasing below 40

That was a fund buying.
They will seize this golden opportunity to load up some more.

Nothing like a golden opportunity. Failure to pay a dividend isn't a positive sign



Et tu Obiero?

Surely, how is preserving cash in order to survive hard, uncertain, times a negative sign?


Shows lack of depth in reserves. How come its peers are paying?


It shows prudent management in times of crisis. I believe I have seen you argue exactly this point about another company (I wish I could find the link).

Sad to see you have gone to the dark side.
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
Wakanyugi
#29 Posted : Wednesday, May 27, 2020 2:03:31 PM
Rank: Veteran


Joined: 7/3/2007
Posts: 1,624
wukan wrote:
sparkly wrote:


Only the middle class is being f***ed by Covid19!

The rich are secure in their needs, they can even afford to give some of their money e.g. James Mwangi's personal donation of kshs 300m.

The poor are getting donations from NGOs and cash transfers from GOK.

The middle class are losing their jobs, being denied minority dividends and getting nil assistance from NGOs and GOK.

Cry the middle class


This will be the narrative of the 2020's decade. covid19 stress test is going to shake middle class good and proper. Already in 2 months they are hawking vegetables from the back of BMWs and Subarus.

Middle class will have to trim the fat both financially and physically or retire into penury. I see everyone is now out running in the morning(same folks that were driving to the gym to walk on the treadmill). They are now removing parking lots in CBD and installing bike lanes.

Middle class will have to move back near the inner city or within walking distance to work, bike to work, carry packed lunch and start going for the old fashioned entertainment.

The poor need to be kept busy with bread and circus(political entertainment). Middle class can go hangsmile


Poor rich, spoiled, pampered, privileged midro class. Nyef, nyef. Uhuru recently gave you an undeserved tax cut and you are about to become the beneficiary of most stimulus funds, as always.

Very oppressed indeed.
"The opposite of a correct statement is a false statement. But the opposite of a profound truth may well be another profound truth." (Niels Bohr)
sparkly
#30 Posted : Wednesday, May 27, 2020 2:09:54 PM
Rank: Elder


Joined: 9/23/2009
Posts: 7,804
Location: Enk are Nyirobi
Wakanyugi wrote:
wukan wrote:
sparkly wrote:


Only the middle class is being f***ed by Covid19!

The rich are secure in their needs, they can even afford to give some of their money e.g. James Mwangi's personal donation of kshs 300m.

The poor are getting donations from NGOs and cash transfers from GOK.

The middle class are losing their jobs, being denied minority dividends and getting nil assistance from NGOs and GOK.

Cry the middle class


This will be the narrative of the 2020's decade. covid19 stress test is going to shake middle class good and proper. Already in 2 months they are hawking vegetables from the back of BMWs and Subarus.

Middle class will have to trim the fat both financially and physically or retire into penury. I see everyone is now out running in the morning(same folks that were driving to the gym to walk on the treadmill). They are now removing parking lots in CBD and installing bike lanes.

Middle class will have to move back near the inner city or within walking distance to work, bike to work, carry packed lunch and start going for the old fashioned entertainment.

The poor need to be kept busy with bread and circus(political entertainment). Middle class can go hangsmile


Poor rich, spoiled, pampered, privileged midro class. Nyef, nyef. Uhuru recently gave you an undeserved tax cut and you are about to become the beneficiary of most stimulus funds, as always.

Very oppressed indeed.


Midro class is better off earning 1m pa and paying PAYE at 30% than earning 500k pa and paying PAYE at 25%. Focus!
Life is short. Live passionately.
Ericsson
#31 Posted : Tuesday, June 23, 2020 9:48:47 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,566
Location: NAIROBI
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...5310542861799424/photo/1
obiero
#32 Posted : Tuesday, June 23, 2020 9:03:07 PM
Rank: Elder


Joined: 6/23/2009
Posts: 12,767
Location: nairobi
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1


Where do we go from here.. There’s a reason I stay away
COOP 5,500 ABP12.6; HF 30,000 ABP 5.90; KCB 7,500 ABP 36; KQ 414,100 ABP 7.92
sparkly
#33 Posted : Wednesday, June 24, 2020 12:29:05 AM
Rank: Elder


Joined: 9/23/2009
Posts: 7,804
Location: Enk are Nyirobi
obiero wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1


Where do we go from here.. There’s a reason I stay away


They will be back to acquire assets ravaged and distressed by Covid19.
Life is short. Live passionately.
VituVingiSana
#34 Posted : Wednesday, June 24, 2020 3:50:17 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,097
Location: Nairobi
sparkly wrote:
obiero wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1


Where do we go from here.. There’s a reason I stay away


They will be back to acquire assets ravaged and distressed by Covid19.

At 1/2 the price.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#35 Posted : Wednesday, June 24, 2020 8:06:45 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,566
Location: NAIROBI
sparkly wrote:
obiero wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1


Where do we go from here.. There’s a reason I stay away


They will be back to acquire assets ravaged and distressed by Covid19.


Atlas Mara has moved on and started negotiations with other potential suitors.
watesh
#36 Posted : Wednesday, June 24, 2020 8:36:52 AM
Rank: Member


Joined: 8/10/2014
Posts: 825
Location: Kenya
[quote=Ericsson]Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1[/quote]
There must be something fishy with those assets that Equity has been so hesitant to buy ever since last year as compared to BCDC bank in DRC which was a done deal really fast...... My take is that Equity should first make their TZ subsidiary bigger and more profitable before going further down south. KCB and DTB are profitable in TZ so it's not impossible.
nairobby
#37 Posted : Wednesday, June 24, 2020 8:53:22 AM
Rank: Member


Joined: 1/18/2019
Posts: 180
Location: kenya
VituVingiSana wrote:
sparkly wrote:
obiero wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1


Where do we go from here.. There’s a reason I stay away


They will be back to acquire assets ravaged and distressed by Covid19.

At 1/2 the price.


That's why we love King James. This was a sober decision esp because those banks were already loss-making, now with covid..imagine paying the same price. Nah
VituVingiSana
#38 Posted : Wednesday, June 24, 2020 9:15:56 AM
Rank: Chief


Joined: 1/3/2007
Posts: 17,097
Location: Nairobi
watesh wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1

There must be something fishy with those assets that Equity has been so hesitant to buy ever since last year as compared to BCDC bank in DRC which was a done deal really fast...... My take is that Equity should first make their TZ subsidiary bigger and more profitable before going further down south. KCB and DTB are profitable in TZ so it's not impossible.

I think the DRC deal was easier since it was a single bank in a single market and will be integrated into Equity DRC vs buying several small banks in new markets.

The latter takes more work, injecting capital, integration, etc. Perhaps not the time to do so but certainly something to think about in the future to become a pan-african bank.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
watesh
#39 Posted : Wednesday, June 24, 2020 10:42:43 AM
Rank: Member


Joined: 8/10/2014
Posts: 825
Location: Kenya
VituVingiSana wrote:
watesh wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1

There must be something fishy with those assets that Equity has been so hesitant to buy ever since last year as compared to BCDC bank in DRC which was a done deal really fast...... My take is that Equity should first make their TZ subsidiary bigger and more profitable before going further down south. KCB and DTB are profitable in TZ so it's not impossible.

I think the DRC deal was easier since it was a single bank in a single market and will be integrated into Equity DRC vs buying several small banks in new markets.

The latter takes more work, injecting capital, integration, etc. Perhaps not the time to do so but certainly something to think about in the future to become a pan-african bank.


It has been been almost 7 years in Tanzania and barely any growth over the past 4 years. It has been in losses in 2018, 2019 and start 2020 with a fat decline (-30%) in the top line revenue. KCB with an equally sized footprint in Tanzania was bringing in close to Ksh1 billion PBT from TZ unit. Equity need to rethink strategy and overhaul management there.
Ericsson
#40 Posted : Wednesday, June 24, 2020 11:09:47 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,566
Location: NAIROBI
watesh wrote:
VituVingiSana wrote:
watesh wrote:
Ericsson wrote:
Equity group ends discussion with Atlas Mara group on acquisition of Atlas businesses in Rwanda,Tanzania, Zambia and Mozambique.
https://mobile.twitter.c...310542861799424/photo/1

There must be something fishy with those assets that Equity has been so hesitant to buy ever since last year as compared to BCDC bank in DRC which was a done deal really fast...... My take is that Equity should first make their TZ subsidiary bigger and more profitable before going further down south. KCB and DTB are profitable in TZ so it's not impossible.

I think the DRC deal was easier since it was a single bank in a single market and will be integrated into Equity DRC vs buying several small banks in new markets.

The latter takes more work, injecting capital, integration, etc. Perhaps not the time to do so but certainly something to think about in the future to become a pan-african bank.


It has been been almost 7 years in Tanzania and barely any growth over the past 4 years. It has been in losses in 2018, 2019 and start 2020 with a fat decline (-30%) in the top line revenue. KCB with an equally sized footprint in Tanzania was bringing in close to Ksh1 billion PBT from TZ unit. Equity need to rethink strategy and overhaul management there.


Is there any management there.
James Mwangi calls the shots
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