Monday, September 04, 2006

Bank Rankings: June 2006

Tier 1 (Assets over 25 billion shillings)

1 Barclays 112.4 billion shillings ($1.56 billion) in total assets
Kenya is still Barclays country with the bank remaining a solid #1. After having a slow 1st quarter, at the half year ending in June 2006, its assets are up 9% from a year ago, profit is up 43%, deposits up 11%, loans up 12% and total non-performing assets (NPA’s) are down 20%.

2. Kenya Commercial Bank (KCB) 82.3 billion
Assets up 16%, deposits up 15%, however loans are flat, but still income was up leading to half year profits up 66% from a year ago.

3. Standard Chartered (Stanchart) 82 billion in assets
Much closer to, and may overhaul KCB by year end, with assets up 19%, profits up 17%, deposits up 13%, loans up 27% but with NPA up 53% from a year ago.

4. Cooperative (Co-op Bank) 56.8 billion
Assets up 11%, deposits up 15%, but loans down 6% and NPA’s doubled, as government securities are up 90% and overall profit up 45%.

5. National Bank of Kenya (NBK) 33.8 billion
Loans and deposits up 7%, while govt securities up 75%, so overall assets and profits up 6% from a year ago

6. Citibank 33.6 billion
Likely to overtake National Bank by year end with assets and loans up 19%, deposits 9%, income up 43%, and profits up 59%.

7. Commercial Bank of Africa (CBA) 33 billion
Also likely to overtake NBK and Citibank is CBA with assets up 39% profit up 79%, deposits up 46%, loans up 123%, income up 54%, but with NPA up 83% and insider loans up 43%.

Tier 2 (Assets of 6 – 24.9 billion)

8. National Industrial Credit (NIC Bank) 22.7 billion ($315 million)
Assets up 20%, profit up 83%, deposits up 23%, loans up 14%, income up 37%, but NPA 88%

9. Credit Finance Corporation (CFC Bank) 22.4 billion
CFC is likely to overhaul NIC with assets up 27%, deposits and loans both up 19%, income up 47%, profit up 43% but insider loans up 74% and NPA up 27%.

10. Investment & Mortgages (I&M Bank) 20.5 billion
Assets up 28%, deposits, loans, and income all up 31%, and profits up 72% from a year ago

11. Diamond Trust 17.9 billion
Assets up 33%, profits up 84%, deposits up 40%, loans up 28%, but insider lending up 54%, and NPA up 141%.

12 Standard Bank (Stanbic) 17 billion
Assets up 36%, deposits up 18%, loans up 32%, income up 47%, and profits up 149% but insider borrowing up 478% from a year ago.

13. Equity 13.9 billion
Newly listed on the NSE. Assets up 55%, profits up 115%, deposits up 67%, and loans up 130%, but insider lending up 160%, and NPA up 69% from a year ago.

14. Bank of Baroda 10.7 billion
Assets, deposits, and loans but also NPA all up 21%, while profits up 9% from a year ago.

15. Housing Finance Corporation of Kenya (HFCK) 9.9 billion
Was passed by Baroda and Equity since a year ago despite rocket high share price. Its assets, deposit, and loans all unchanged (up less than 1%) from a year ago, with NPA’s up 45% but still profits were up 82% from last June.

16. EABS Bank 8.6 billion
Was a known as pre-merger Akiba Bank a year ago. Deposits up 130%, loans up 53%, but profits down 94% from last June.

17. Prime 8.6 billion
Assets up 42%, deposits up 50%, loans up 31%, and profits up 75% and they have overtaken BOI and Imperial banks’.

18. Imperial 8.5 billion
Assets up 13% profits up 37%, deposits up 31%, loans up 20%, but insider borrowing also up 40% from a year ago.

19. Bank of India 7.9 billion
assets up 25%, profit up 69%, deposits up 21%, loans up 48%, income up 37% while NPA’s up 40%.

20. Fina 6.0 billion
Deposits up 64%, loans up 32%, income up 42%, and profits up 9% bank as Fina pushes into Rwanda and the SME sector.

Tier 3 (assets below 6 billion shillings)

21. Bank of Africa 5.8 billion ($80.74 million)
Assets up 16%, deposits up 31%, income up 37%, as the Bank has turned round from a loss of 10 million last June to profit of 4m.

22. Habib Bank AG Zurich 5.2 billion
Assets and profits both up 14% in the half year.

23. Giro 5.1 billion
Assets up 13%, deposits up 16%, but profits down 61% at Bank whose acquisition by SB of India Bank has not been completed

24. Guardian 4.9 billion
Assets up 6%, income up 40%,and profit up 18% from last June.

25. ABC Bank 4.8 billion
Assets and deposits up 13%, loans up 9%, income and NPA’s up 21%, as profits remained flat.

26. K-Rep 4.4 billion
Assets up 47%, deposits up 64%, loans up 32%, income up 42%, profits up 9%, but insider borrowing up 47% from a year ago.

27. Southern Credit 4.2 billion
Assets up 8%, deposits and loans up 7%, income up 13%, but profit down 44% from last June.

28. Victoria 4 billion
Assets up 4% but profits down 10% from a year ago.

29. Charterhouse 3.9 billion
Not bad performance for a bank which was placed under statutory management in June following money laundering allegations. Loans and assets up 28%, deposits up 32%, income up 37%, as profits remained unchanged at 76 million shillings.

30. Equatorial 3.6 billion
Assets up 19%, deposits up 27%, loans up 24%, but NPA’s up 94%, with profits down 18%.

31. Middle East 3.6 billion
Assets, profits, deposits, and loans all down 11%, while income was up 9%.

32. Habib Bank 3.2 billion
Assets, deposits, and income down 3%, and operating expenses up 16% leaving profits down 63% from a year ago.

33. Consolidated 3.1 billion
Like NBK and Oriental has a high percentage of non-performing assets. Assets up 18%, deposits up 16%, loans up 39%, income up 92%, but with NPA's up 88%, the bank went from a profit of 14m last June to a loss of 10 million.

34. Development Bank of Kenya (DBK) 2.9 billion
Assets up 19%, deposits up 54%, loans up 60%, income up 30%, but profits down 61%.

35. Credit Bank 2.8 billion
Profits up 5% and deposits up 7% from last June.

36. Chase 2.8 billion
Assets up 22%, profit up 26%, deposits up 53%, loans up 36%, and income up 42% but with NPA’s up 22%.

37. Transnational 2.2 billion
Profits up 20%, loans up 26% but deposits remained flat while NPA’s were up 69%.

38. Fidelity 1.9 billion
Assets up 24%, deposits and loans both up 30%, but profits down 31% with insider borrowing up 50% and NPA up 28%.

39. Paramount Universal1.8 billion
Assets up 31%, deposits up 23%, and loans up 12%, while the bank has gone from a half year loss of 2 million in June ’05 to a profit of 9 million this year.

40. Oriental 1.4 billion
Deposits up 16%, income up 42% and NPA reduced by 35% but even as assets reduced by 15% the bank was able to improve by reducing its half-year loss by 19%.

41. Dubai 1.1 billion
Assets were up 4%, deposits up 18%, loans up 40%, but NPA’s were up 168% and profits down 68% from a year ago.

42. City Finance

New Banks

Family Finance 3.9 billion assets, (and would be the 30th largest bank in Kenya at June 2006) is awaiting CBK approval to convert from a building society to a commercial bank this year. Assets are up 39% deposits up 29%, loans up 60%, income up 60%, but profits unchanged at 97 million as NPA’s were up 105% from last June

Gulf African Bank will be Kenya’s first fully Shariah compliant bank. Deloitte Consulting are hiring top managers for the CEO and all top management positions (Deadline is September 15).

Also expected to join the Kenyan banking sector are ICICI and 2 other banks.

Jobs

Business relationship managers at Equity Bank. Apply to jobs@ebsafrica.co.ke by 13 September

Kencall: 100+ inbound customer service agents and 50+ outbound customer service agents who have lived, worked or studied in the US or UK . Details at www.kencall.com.

Graduate trainees at the Kenya Revenue Authority. Deadline is 15 September.

Financial investment analyst at Standard Investment Bank. apply to research@standardstocks.com September 8

Various at Toyota. see www.toyotaea.com for details

For airline staff - Go to India: IAG blog reports that India will order over 800 new aircraft over the next 20 years requiring some 12,000 pilots to crew these planes and likely 3,500 flight attendants.

19 comments:

coldtusker said...

Why would they need 12,000 pilots for only 800 planes? Even if they fly 3 8-hour shifts with 3 pilots for each plane = 7,200 pilots! I think they need more crewmembers coz each plane needs at least 4 cabincrew with additional needed for long flights!

coldtusker said...

Thanx for the summaries of the banks!

Any news on whether ICICI has opened a local branch?

What is Stanbic's position on NBK?

Will the government sell additional shares in KCB?

For all of Equity's hype, it remains a fraction of Barclays! The mere increase in BBK's assets is greater than many of the banks' total assets!

I think many of the smaller banks wll be absorbed over the next 2 years as the CBK cracks down on the wishy-washy ones. Further, the introduction of new minimum capital requirements will force some to find suitors!

Is TransCentury still interested in Development Bank of Kenya?

Kibet said...

Am quite impressed with KCB's asset base. Handsome! Any hint on the source of the info?

bankelele said...

Coldtusker;

- ICICI probably still awaiting reagulatory approvals as are Family Finance and Giro (for SBIndia takeover)
- Stanbic local MD has said that they are looking at NBK, but I think govt has to deal with bad debt issue first
- KCB I think they are staying put
- Equity is first growing and with huge low-income customer accounts numbers, they brag about having something like 1/6 of all Kenyan bank accounts
- Snmall banks are staying put as they are mostly profitable and the owners are not going to sell unless induced. Minimum capital previuoly set for banks were rolled back in 2003 - & where bank were required to have 600m by 2006 it's still 250m
- TransCentury was interested in HFCK, who were at one time pursuing a merger with Development Bank of Kenya - which was turned down
pilots - I think also other exisitng aircraft were factored in




Kibet: Thanks. KCB branch network mobilised deposits of 66 billion only half of which has been lent out.

coldtusker said...

I think the CBK will be forced by international accords/agreements to increase the minimum capital to KES500 Million by 2007.

I think most of the banks will manage but some may have it tough.

I am surprised at the delay in Giro's case! Let SBI take them over asap. It can only benefit the customers coz of competition!

I expect ICICI & SBI to do well coz they have experience with "small" depositors in a tough environment!

Riba Capital said...

Banks,... Some Food for thought...
I think banks comparison is not always done objectively, MI and the dailies should also consider a percentage of the total no. of client accounts against total profitability where a bank like Citibank would be a clear tops in the country. Anyway, I like your breakdown. Or am I being subjective??

Also consider factors like the total interest income for Equity is very high reason and their profitability is impressive, but they have some many accounts which they pay almost no interest on deposit meaning when giving loans their cost of money is minimal since most of their account holders have less than 20K in the account. While us on the otherhand a bank like Citibank where accountholders have more than the minimum and also demand for better terms have a very high cost of money but still outperforms the other banks.. Anyway guess we can discuss this the whole day..

coldtusker said...

Citibank (Kenya) does not have retail banking but they are huge & very profitable!

I wonder if they would go public in Kenya?

Riba Capital said...

Cold tusker..
Thats a definite no. Because in Kenya unlike other multinational banks, Citibank is only a branch of Citibank Newyork. While others are franchises..
And yeah in Kenya they only do Corporate banking hence the few number of customer accounts..

Anonymous said...

Ati citibank (kenya) going public??

You people are joking.

gathinga said...

coop bank's performance is as impresive as they come. especially still being under de facto state control. they have been talking about lisiting....is there nay indicators.
For kcb and also coop however, being able to ,opbilise cheap deposits from all over only to then lend to govt is not good strategy. it may be safe and conservative, but equity and the like minded will always report better returns on investment

Holy Cow said...

I got my doubts about Equity think its risen too fast, a friend callls it a "political Bank"

coldtusker said...

Well if Holy Cow is right, I hope Equity cleans up its act coz if it fell, it would cause havoc among the most vulnerable in society!

Others like Euro Bank, Trade Bank, Trust Bank, etc affected many but not the most vulnerable. Equity is different...

That said all depositirs are covered upto 100,000/- ($1,500)...

lady said...

That was quite an information. I can't believe how detailed and how patient you are to get those information. That's awesome!
http://www.oefbibbcity.com

Anonymous said...

Gulf African Bank; who are the owners and when do you think license would be granted ? Is it really Sharia/Islamic complaint bank or providing Islamic products as other conventional banks have done in Kenya ?

Conerened,
ASB,
Mombasa

Anonymous said...

Again, Gulf African Bank; Can non Muslims apply for senior posts?
To share, while browsing I came across www.gulfafricanbank.com

Gulf said...

yes non muslims can apply for senior posts at Gulf African Bank

Gulf said...

Gulf African is owned by a consortium of Gulf based leading commercial banks, financial institutions, high net worth individuals and business leaders in the Arabian Gulf have partnered with eminent Kenyans.
We have submitted documentation for licencing and the Central Bank of Kenya is working on it.
We hope it will be finalised soon.

Anonymous said...

Im just excited about this fully fledged Islamic bank. Could you please tell us when they expect to be operational and whether they'll be offering Retail banking.

Anonymous said...

Mine is for Gulf bank we heard that when you open your branch in Eastleigh the other banks will close? Is it true?

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