Thursday, August 04, 2005

Banking briefs

August 31st is the deadline fro Banks to report their un-audited quarterly accounts as at June 30th. So far all nine Banks have posted profits at about 1% return on total assets – with Dubai Bank the highest so far at 3.38%.

Equity turnover
Many employees of Equity Bank may not see the may not see the pot of gold at the end of the rainbow that is the Bank’s IPO later this year as staff turnover is very high at the rapidly expanding Bank. Long working hours in extremely busy banking halls are the norm and unexcused employee absences often lead to instant dismissal

Upper Hill CBA
CBA new Upper Hill headquarters building should be ready late this year. Following the merger with First American, some Nairobi branches, and one in Mombasa will be closed next year.

Maximise Kencom
KCB will close its Tom Mboya and Moi Avenue branches. They will expand the Kencom banking hall, which has been underutilized for years. The KCB Card Centre has already been removed to Sarit Centre from the Moi Ave. branch which occupied two buildings.


Anonymous said...

Though there is a dearth of comments.. please be assured we are reading your blog...

BTW... Olympia AGM at Nairobi Club at Nooon on Aug 5

bankelele said...

Thanks, but will pass on Olympia, waiting for next week which has more meetings

Kibet said...

Quite insightful, i must say!

Though i'd love to hear some info or your view on HFCK.

Everyone keeps on talking about Equity's IPO- does anybody have an Estimated Time of Arrival? T'would be nice to be strategically placed when the IPO kicks off, wouldn't it?

bankelele said...

Will write more on HFCK later.

But Equity's mystery IPO is due on the NSE in October this year, while Kengen is expected around February '06.

Anonymous said...

Between equity and kengen, which has more potential long term in terms of value? especially if am not for speculating but looking for long term value?


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