Kenya Bank Rankings 2008 Part II

Follow up to part I and tracks change from December 2007 to 2008 in assets and profits

Tier 1 (Assets over 25 billion shillings)
1 KCB (2) 174,712-assests (Kshs. 175 billion, $2.18 billion) 5,394 million ($67million)-profits 109,845-deposits 79,343-Loans (assets up 55%, profits up40 %, overtake Barclays to be No. 1)
2 Barclays (1) 168,786-a 8,016-p 126,408-d 108,086-L (assets up 7%, profits up 13 %)
3 Standard Chartered (3) 99,140-a 4,709-p 76,898-d 43,299-L 8% (assets up 8%, profits down 4 %)
4 Cooperative (4) 83,918-a 3,337-p 65,934-d 53,293-L (assets up 28%, profits up 46 %)
5 (--) CFC Stanbic 83,166-a 1,313-p 61,529-d 44,205-L (new bank created by merger combined assets up 34%)
6 Equity (6) 77,135-a 4,757-p 48,977-d 40,858-L (assets up 45%, profits up 101%)
7 Commercial Bank of Africa (8) 50110-a 1694-p 41715-d 26309-L (assets up 27%, profits up 21%)
8 Citibank Kenya (6) 47534-a 3353-p 31192-d 18154-L (assets unchanged, profits up 89%)
9 NIC (10) 42,704-a 1,474-p 35,238-d 29,955-L (assets up 36%, profits up 41%)
10National Bank of Kenya (7) 42,696-a 1,797-p 34,278-d 8,950-L L (assets up 3%, profits up 11%)
11 Diamond Trust (11) 41,592-a 1,336-p 32,689-d 25,460-L (assets up 37%, profits up 44%)
12 Investment & Mortgages (12) 36,656-a 1,620-p 28,355-d 25,887-L (assets up 25%, profits up 25%)

Tier 2 (Assets of 6 – 24.9 billion)
13Prime (15) 19,945 million-assets (~$249 million or Kshs 19.95 billion) 460 million-profits (~$5.75 million) 15,662 million-deposits 9,426 million-Loans (assets up 44%, profits up 45%)
14Housing Finance (17) 14,330-a 196-p 10,089-d 10,419-L (assets up 38%, profits up 50%)
15 Imperial (16) 13,432-a 673-p 10,414-d 8,276-L (assets up 15%, profit up 19%)
16 Bank of Africa (23) 12304-a 93-p 8708-d 6856-L (assets up 61%, profit down 41%)
17 Bank of India (18) 12049-a 609-p 10211-d 4448-L (assets up 16%, profit up28 %)
18 Ecobank (19) 10499-a 67-p 8341-d 5126-l (assets up 11%, profit down 43%)
19 Family Bank (20) 10,410-a 531-p 7,404-d 5,890-L (assets up 21%, profit up 99%)
20 Baroda (14) 10361 633 15165 8938 (assets down 30% %, profit up 27%)
21 Chase (27) 10,300-a 247-p 7147-d 5139-L (assets up 80%, profit up 37%)
22 Fina (21) 9,865-a 82-p 8,113-d 6,190-L (assets up 22%, profit down 29 %)
23 K-Rep (24) 8,184-a -472(p) 4,502-d 5,935-L (assets up16 %, slipped to loss maker)
24 ABC (26) 6584-a 224-p 5365-d 3550-L (assets up 7%, profit up 21%)
25 Habib AG Zurich (25) 6,557-a 242-p 5,373-d 2,182-L (assets up 6%, profit up 19%)
26 Development Bank of Kenya (32) 6,520-a 171-p 2231-d 3439-L (assets up 39%, profit up 9%)

Tier 3 (assets below 6 billion shillings)
27 Giro (28) 5,938 million-assets (~$74 million, Kshs 5.93 billion) 126 million-profits (~$1.6million) 5,127 million deposits 3,411 million-Loans (assets up 6%, improved profit up 207%)
28 Guardian (29) 5,558-a 44-p 4,586-d 3,553-L (assets up 3%, improved profit up 84%)
29 Southern Credit (30) 5,171-a 6-p 4,106-d 2,655-L (assets down 6%, profit down 85%)
30 (--) Gulf African 5,000-a -382(p)3,249-d 1,932-L (new Shariah bank)
31 Consolidated (34) 4,657-a 85-p 3,279-d 2,751-L (asset up 13%, improved profits up 226%)
32 Habib Bank (35) 4,491-a 146-p 3024-d 988-L (assets up 17%, profit up 37%)
33 Victoria (33) 4,460-a 170-p 3,582-d 2,778-L (assets up %, profit up %)
34 Equatorial (31) 4410-a -8(p) 3668-d 2307-l (assets down 9%, slipped to loss maker)
35 Fidelity (38) 4,329-a 73-p 3,778-d 2,787-L (assets up 39%, profit up 62%)
36 Credit (36) 3,637-a 79-p 2774-d 1810-L (assets up 8%, profit down 40%)
37 Transnational (37) 3,414-a 121-p 1,891-d 1,441-L (assets up 6%, profit up 43%)
38 Middle East (39) 3,297-a 30-p 2,021-d 1,651-L (assets up 6%, profit down 68%)
39 (--) First Community 3,180-a -307(p) 2091-d 868-l (new Shariah bank)
40 Paramount Universal (40) 2,646-a 51-p 2,109-d 1,268-l (assets up 12%, profit up 19%)
41 Oriental (41) 2,289-a 68-p 1,314-d 958-L (assets up 35%)
42 Dubai (42) 1,639-a 7-p 1,032-d 957-L (assets up 6%, profit down 50%)
43 (43) City Finance 538 -a -3(p) 164 -d 193-L (assets down 28%, 90% financial improvement to report loss of 3m)

Pepsi to Kenya?

. Nairumour that after an absence of many years, Pepsi will re-enter the Kenyan market in the near future to resume battle with Coca Cola, possibly through their South African partners. If so, it will cap a great year for investment to the country, and that despite 2008 being a relatively tough year for investors and companies, with the post-election violence, business disruption, high fuel and energy prices, depressed consumer spending, P & P madness (pirates and politicians) collapsing stockbrokers, there was a steady flow of new investments and new products that happened this year.

Re-cap of some notable ones

Banking
- Takeovers concluded - Ecobank take over of EABS, and Stanbic merger with CFC (now CFCStanbic)
- UBA licensed (2009)
- Gulf African and First Community (Shariah banking kicks off)

Beverages
- Summit Lager a new beer from Keroche Industries
- East African Breweries launched Alvaro (malted soft drink)
- Coca Cola launched Novidia (another malted soft drink) and also started selling Minute maid
- KETEPA launched Safari Iced Tea

Communications
- WPP buys into Scangroup
- 2008 saw the launch of two new mobile operators - Orange (France Telkom) and Yu (Essar/Econet) to battle Safaricom and a re-energized Zain
- Altech buys into KDN
- A long-running fight over one(EASSY)submarine cable, gave birth to three different ones being laid to Mombasa
- Wananchi launched Zuku (TV, Broadband, Phone)

Transport, Energy & Manufacturing
- Tiger brands buying into Haco
- An investment in the Kenya Oil Refinery at Mombasa was still under battle between Libyan and Indian Investors
- Jinchuan (China) to bail out Tiomin?
- Mirambo and PD Toll to salvage the Rift Valley Railways
- Delta Airlines (USA - but postponed to 2009)
- Air Arabia started flights to Kenya

Tourism
- Libyans took over the Grand (Laico) Regency
- The Tribe opens.

Exits
- Chevron (Caltex) sold out – bought by Total
- Unilever (de-listing from the NSE)
- Roy Puffet from rift Valley Railways

Bank waters

In the pool

Diving in: Another West African bank giant UBA follows Ecobank after apparently having secured a banking license to operate in Kenya.

Treading in the shallow end: Still finding their ground are the new Islamic Banks - Gulf African and First Community that started business last year. They are likely to be the only banks that will record losses of at least Kshs. 200 million each as their new branches and staff continue to reach out and educate customers on a new way to bank.

Had enough swimming?:
(i) Morgan Stanley who were supposed to introduce long term foreign investors to Kenya with a five year window or longer, but instead brought in short term investors at the expense of the Government and othrr investors who took out their profits in a week. Another lesson learnt a long way back from the IPO.
(ii) The Kenyan unit of Citi is on track to rake in profits of $50 million this year on the back of aggresive trading, but will it be enough, or will it be bled off by the parent unit? And who would buy it and its lucrative American interest-linked business portfolio?

New Bank; Gulf African

Gulf African Bank has been licensed and will become Kenya’s 42nd bank.

While earlier billed as a Sharia only bank, it’s hard to see how that would have been sustainable and it now appears that the bank will also be open to non-Muslims. Mainstream banks like Barclays, KCB, I&M and Dubai already have shariah complaint products.

With a 1.75 billion capital base starts off around 14th largest bank largest bank. It has advertised for top jobs over the last several months with a view to becoming a regional powerhouse backed by its wealthy shareholders.

Opportunities
most from the daily papers this week

Jobs
- Business analyst sub Saharan Africa – at BAT
- Alliance For A Green Revolution In Africa (AGRA): Director for Market Access Program, Program Officer for Market Access Program. Apply through KPMG
- Electoral commission of Kenya : returning officer, assistant returning officers, trainer of trainers (but must be over 35 years for most jobs). D/L is 2/10
- Investment Officer at the IFC - Nairobi Kenya. D/L is 8/18
- Kenya Airways: Database Architect, Head Of Corporate Security Services, Manager Materials Planning & Procurement, Team Leader Motor Transport
- Head of IT at the Nairobi stock exchange . Apply through Deloitte at esd@deloitte.co.ke (Ref HIT/09/07) by 28/9
- National Museums of Kenya: marketing/PR manager, development manager (resource mobilization). Apply to dgn@museums.or.ke
- Safaricom: M-PESA New Business Sales Officer, M-PESA New Agent Sales Officer, CRM Support analyst, M-PESA Operations Officer
- Agribusiness specialist at USAID Kenya D/L is 21/9
- USIU: senior research associate, webmaster. Apply to jobs@usiu.ac by 30/9

Real estate
- a 5 storey shopping mall in Eastleigh on sale for 150 million shillings ($2 million) from Lloyd Masika
- Have Man U star Rio Ferdinand as your neighbor by buying into this luxury complex in Uganda
- develop houses for USIU on 45acres in Athi river.

Knocking on bankings' door

Family Bank: Family Finance will be the next bank licensed in Kenya within the next month as the building society will covert into Family Bank. Some have called the fast rising institution and Equity clone with better stripes but it will fit in as the 22nd largest of Kenya’s Banks.

Gulf African: Also in the running in 2007 is Gulf African Bank which is backed by a consortium of Middle East financial institutions.

MEGA bank: Interesting read here on the challenges and plans of the proposed MEGA bank.

mega bank # 2
CFC's share price has stabilized after the initial confirmation of talks with Stanbic. It has since steadily risen as proper analysis of the proposal merger has been taking place.

mega bank # 3
Will criticism by the SA Central bank governor scuttle part two of the Barclays Absa deal?

mega bank # 4
Is Nakumatt a Bank? It follows in the path of Wal-Mart but has not indicated any such leanings. However an organization that takes in over 70 million shillings a day ($1 million) and doesn’t have to pay its creditors for 30 days has to be a major player in the banking and investment world.

edit
Ecobank here soon too.

finally a non banking story but a major corporate headache as Ribena (remember mothers who care trust Ribena? ) may not all that it advertises itself to be!

2006 Kenya banking review

still Barclays country

based on reported figures for September 2006

1. Barclays Bank of Kenya [assets worth 117.17 billion shillings ($1.67 billion)] In 2006 Barclays made a major policy about turn and announced expansion plans including reopening branches they had closed a few years ago. They also venture into Shariah compliant banking as did KCB, I&M, Dubai and K-Rep banks.

Compared to September 2005, assets were up 10%, deposits 12%, loans 14% but income was up only 6%. They also increased their investment in government securities to about 40% of the loan book. Still despite being Kenya’s largest bank, it also has the 2nd highest return on assets at 4.16% (second only to Equity Bank at 4.74%)Barclays shareholders had a very happy year, which saw them earn a bonus share and a share split in addition to their usual top dividend.

2. Kenya Commercial Bank [84.92 billion] KCB nudged passed Stanchart in assets while its share price zoomed passed though Stanchart still has a higher market cap and better returns. KCB’s expansive rural branch network was the envy of other banks such as Barclays and it also expanded into Sudan in 2006. KCB’s assets were up 18%, deposits 17%, loan 13% while income was up 26% from a year ago

3. Standard Chartered [84.09 billion] The bank launched several new products including accounts aimed as women (Diva) and children and adult savings (Safari) accounts. Stanchart also appointed a new MD – Mr. Etemesi. Assets up 18% deposits 16% loan s22% and income 10% while it also increased its investment in government securities

4. Cooperative Bank [55.17 billion] Co-op’s strong recovery continued and it remains a strong candidate for a listing in the next two years. One of their unique traditional products - kids’ savings accounts – was invaded by other banks this year. Compared to last September, assets were up 12%, deposits up 18%, income up 19%, but loans down by 16%. Also their total non performing assets (NPA’s) doubled to 17 billion while the bank also tripled its in investment in government securities during the year.

5. National Bank of Kenya [39.37 billion] NBK is yet to have its capital and debt restructuring done even though it is promised every year by the Government and despite reporting profits each quarter, it was not able to pay any dividends. The Bank launched a low fee (Taifa) account to counter the crowds flocking to Equity and Co-op banks. Assets and loan were up 10%, deposits and income up 16% and it tripled investment in government securities but NPA have also doubled to from a year ago.

6. Citibank Kenya [35.43 billion] Assets up 12% loans up 42% and income up 33%. Was a late entrant to the share craze providing advisory services to the Mumias rights issue in November.

7. Commercial Bank of Africa [35.12 billion] CBA opened a new headquarters and is expected to venture into stockbroking. Assets, deposits, loans, and income were all up 21% but NPA also up 45% from a year ago.

8. CFC [25.04 billion] Had a successful rights issue to raise capital and also continued to roll out new insurance products. Its stockbroking unit is the largest in the country and was reported to have processed Eveready applications amounts that exceeded the shares being offered. CFC doubled its investment in government securities, assets were up 35%, deposits and loans up 20%, income up 61% but NPA were also up by 74% from the year before.

9. NIC [23.55] Still the leader in asset finance while their flat fee (MOVE) was imitated by other banks. Assets and deposits were up 18%, loans 15%, and income 33%, but NPA’s doubled from a year ago also. Shareholders finally enjoyed some significant price appreciation after being stuck at 50 /= forever.

10. Standard Bank (Stanbic) [23.29 billion] Many Kenyans bought shares in their Ugandan subsidiary while the Bank has expressed an interest in investing in NBK once it is restructured. Stanbic which has the lowest NPA (followed by Citibank and D-Trust) had assets up 54% deposits and loans up 44% and income was up 49%.

11 Investment & Mortgages [21.79 billion] I&M had assets up 25% deposits 27% loans 36% and income up 33% as the bank made a push into the credit card sector.

12 Diamond Trust [19.14 billion] Raised capital in an over-subscribed rights issue in December and is rumored to consolidate with a sister bank next year. Assets were up 27% deposits 29% loans 25% while income was up 33% from a year ago.

13 Equity [16.33 billion] Kenya’s s fastest growing bank had assets up 63% deposits 81% loans 105% and income 90% however expenses in Q3 grew faster than income and NPA’s are up 165%. It has the highest returns (assets 5% and equity 46%) and successfully listed all their shares on the NSE in 2006

14 Bank of Baroda [11.43 billion] Assets and deposits up 29%, loans up 27%, income up 22% and profit could double this year.

15 Housing Finance [9.8 billion] Has a new MD while its share price appreciated beyond expectation leaving it with the highest P/E on the NSE. Assets, deposits, loans, income, and expenses remained basically unchanged from a year ago while the bank has converted cash into government securities. The lack of new loan growth resulted in NPA’s forming a greater portion (72%) of loan book.

16 Prime Bank [9.26 billion] Assets and income up 40%, deposits 43% loan 29% and profits are up 69% from a year ago.

17 EABS Bank [8.55 billion] Teething pains continue as assets shrunk by 4% but with a positive outlook as income increased twice as fast as operating expenses this year, but still NPA’s are at 72%.

18 Imperial [8.47 billion] Assets up 5% loan 146% and securities up 60% as the bank had redeployed about 1 billion in placements. Income is up 13% and Imperial has among the top 5 returns (even better than Citibank)

19 Bank of India [8.15 billion] Assets and deposits up 20%, loans up 56%, income up 46% but NPA up 43% - still the bank is on track for a huge profit this year.

20 Bank of Africa [6.23 billion] Expects to open another Nairobi branch and but into a bank in Uganda to go with the one it invested into in Tanzania. Assets up 17% deposits 35% loans 16% and income up 31% and despite increase expansion costs remains on track to achieve a profit this year.

21 Fina [6.15 billion] One of the banks that has championed SME financing and also has an extensive operation in Rwanda. Assets unchanged from a year ago while loans up 17% profits will be 41% higher, but NPA also up 59%.

22 Habib AG Zurich [5.07 billion] Asset up 9%, loans 16% and income up 11% at this bank which invests primarily in government securities.

23 ABC [4.95 billion] Assets up 7% with loans up 4%, and income up 20% from a year ago however NPA’s also up 46%.

24 Giro [4.93 billion] Nothing much heard from partnership with SBI (India) and
Assets were up 3%, income up 9%, but loans down 13% and profit will be less than 2005.

25 Guardian [4.66 billion] Assets up 2%, and bank has upped its investment in government securities by 61% compared to 2% growth in loans – however NPA up 216% .

26 K-Rep [4.52 billion] One of the banks that pioneered the micro-finance sector now finds itself being crowded out by new entrants advertising all manner of SME packages. It will administer an ADB guaranteed line of credit for women entrepreneurs (along with CFC and CBA). Assets up 31,% deposits 59& and income up 50% proving that micro finance is low risk niche with only 4% NPA’s even as loans by K-Rep increased by 40%.

28 Southern Credit [4.27 billion] Assets up 1% deposits up 6% and loans 9% but with NPA’s up 52% from a year ago at the bank with a major credit card arm.

29 Victoria [4.19 billion] Assets and deposits up 8% and the bank has reduced its NPA’s by 49% and now has the lowest NPA in the country at 1% with 1 billion shilling in the bank.

30 Charterhouse [3.94 billion] The bank was placed under statutory management following money laundering and tax evasion allegations and has fought back through the courts and the press (& with some questionable tactics). Even as depositors are locked out, assets up 19% but profits down 33% and the CBK manager increased investments in government securities - up by 332% (as directed by the law)

31 Equatorial [3.67 billion] A Sameer bank had assets up 1% but reduced government securities by 72% to increase loans by 22% but NPA also up 75%.

32 Middle East [3.45 billion] Assets up 1%, loans up 45%, but deposits down 10% yet bank may increase its profit as a result of an improved NPA positions.

33 Consolidated [3.45 billion] Assets up 29%, deposits & loans up 33% and despite high NPA it may achieve a profit in 2006. The Deposit protection fund is expected to sell its 50% stake in the bank, but without a profitable track record it will remain private.

34 Chase [3.29 billion] Assets up 33%, deposit 53%, loans & income up 43% but NPA also up 42%.

35 Development Bank of Kenya [3.05 billion] Assets up 20%, deposits & loans are up 50% but NPA up 52%.

36 Habib Bank [3.02 billion] Assets, deposit, and loans, all up 4% this year at Habib which is rumored to consolidate with sister bank in 2007. Has the highest ratio of investment in government securities.

37 Credit [2.77 billion] Assets down 6% and NPA up 125% as the bank drops 3 places in rankings.

38 Transnational [2.44 billion] Assets up 12%, while deposits & loans up 20% from a year ago but NPA also up 73%.

39 Fidelity [2.11 billion] Income up 50% while deposits & loans both up 35% from a year ago.

40 Paramount Universal [2.05 billion] Assets up 55%, deposits up 72% but income is flat and NPA's are significantly up.

41 Oriental (formerly Delphis) [1.37 billion] Losses continue to eat into assets. Growth in income finally faster than growth in expenses but not enough to reverse wipe out of gains in the 1st half of the year as the bank moves further away from profitability and drops behind Paramount in size.

42 Dubai [1.22 billion] One of the first banks to recognize the potential of having a branch in the Eastleigh area now finds itself fighting with new entrants (giants Barclays and KCB) invading the area. Assets up 5%, loans up 12%, deposits up 15%, but NPA up 130% from a year ago.

43 City Finance [0.53 billion] Smallest bank with deposits up 34% (to 130 million), but income down 31% and NPA up 40% from a year ago.

Other institutions
Would be ranked 27 - Family Finance [4.47 billion in assets] Almost as fast growing as Equity with a similarly ambitious expansion plan, but was not able to become a bank since their planned conversion was put on hold by Central Bank. A share capital share of 390 million is more than other existing banks, but new banks are expected to be stronger and so the society went for a controversial private placement which was under-subscribed in November 2006. Assets and profits are up 40% from a year ago while deposits are up 50%.

new bank - Gulf African Will be the first 100% Shariah bank in Kenya

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.