Friday, October 24, 2008

Reassurance from bankers

The downward trend continued at the stock exchange again this week to Friday. So how about some banking news to reassure nervous investors?

KCB: are first out of the blocks with their third quarter results. Some shareholders might be peeved about having forked over Kshs. 25 a share in the rights issue a few months ago, only to have the share trading at below 20 this week.

How have they performed? Compared to a year ago, assets are up 67% and profit up 66% - which should go on through Q4 of the year, and hopefully the bank will reward patient shareholders with 2/3 increase (or more) in dividends after December. After three quarters, the bank has already passed their full year income mark for 2007, and aggressively loans are up over 50% against just 15% increase in deposits.

Equity: are usually one of the first banks to publish quarterly results, and have been known to run them in the Saturday newspapers, so we’ll see by Monday.

Co-Op: a week to the IPO and the media push is on, though subdued compared to past NSE offers. There’s a pre-prospectus document (PDF) at their site published a few weeks ago. See also analyst Robert Bunyi’s perspectives on the IPO (Hat tip Ratio Magazine)

Safaricom (M-PESA qualifies as a bank!) CEO Michael Joseph does his part to reassure retail investors about their Safaricom share prospects going forward. and regardless of their current price.


most from the Daily Nation
- East African Cables commercial manager 13/11
- Econet credit manager see by 31/10
- Government of Kenya (Ministry of public service): 112 senior personal secretaries, 126 personals secretaries. D/L is 31/10 to the PS by snail mail
- KCB: head of alternative business channels, manager – trustee services & compliance. 7/11
- KPMG: seeking several public sector & development associates (PSA01/08) apply through D/L 7/11
- Suntra investment bank: Chief executive (SIB-CEO/10.08) apply through D/L 12/11

from The Economist
- African Agricultural Technology Foundation: Executive Director Nairobi, Kenya
- IUCN: Regional Director for Eastern and Southern Africa Nairobi, Kenya
- KickStart International, Inc: Development Economist / Director of Impact Evaluation & Monitoring Nairobi, Kenya
- Africa Center for Strategic Studies: Associate Dean, Relations Professor Washington, DC
- eRwanda PROJECT: Lead Technical Manager for RCIP-Rwanda Kigali, Rwanda
- Africa University: Vice Chancellor Mutare, Zimbabwe
- Alliance for a Green Africa: Senior Policy Officer, Innovative Financing for Agriculture Nairobi, Kenya
- SNV: Senior Advisor Water, Sanitation and Hygiene -Nanyuki, Kenya
- Call for Paper - First Congress of African Economists

from the mailbox
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