Friday, March 02, 2007
SCB FY2006 results-9% on FY05
Seems like SCB's train is slowly coming into the station. Flat growth in the loan book (my own opinion is that a bank should look to grow this by th equivalent of the economy growth rate) means SCB saw minimum growth in interest income and if you see that all fee types (apart from those on loans) fell, you know these guys must be having different ideas about their Kenyan business. Maybe China, Middle East, India and South East Asia generally will now become their areas of focus. The corporate world in Kenya will become even more fiercely competitive with Stanbic (or is it Stanbic CFC) looking at the same. Anyway, for shareholders still in with them by 4th April, they'll pay you the highest DPS so far at Ksh 4.10. So not all bad.
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3 comments:
Thye are big in government secutires (equivklent to 77% of loan book) and that investment grew 3X faster than new loans even as govt. rates are still low
Bankele, you are banker so does sense to you that SCB and to some extent BBK-developed banks with access to credit risk systems far supplier than anything in Kenya, yet the two prefer to put money in t-bills that pay 6% now? Yes the judiciary system is a minefield not even appreciated by shareholders-I remember reading a story in your blog where BBK shareholders wanted it to forgive Matiba's loans! But its a minefield for all banks not just the two.
supplier=superior
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