bankelele

• Random Photo

  Posted: September 30, 2008, 5:08 pm by bankelele

  Athi River Train Station – October 2007

• Bad News Bears

  Posted: September 29, 2008, 7:42 pm by bankelele

  Correction Window: At the beginning of the month it was Crown Berger shares that did a swan dance on some pedestrian financial results and last week it was the turn for Portland cement (EAPC) shares to take a drastic dip in value with the announcement of reduced profits. This has generally been a tough year for manufacturing stocks and the next few days should see year end results of both

• $10 hotel room

  Posted: September 29, 2008, 4:54 pm by bankelele

  Location: zero star, government owned, grilled crowded room Facilities: No lights, No shoes or belts allowed, no bathroom, no food Occupants: depends on the concierge This ‘hotel’ does not sound like an enticing place to be in Nairobi on a Sunday night, especially when you decide to make a midnight run clad almost in pajamas to a 24-hour Nakumatt store - but that’s what the fabulous Kenya Police

• Missing the Kenya Airways Party

  Posted: September 26, 2008, 8:40 pm by bankelele

  I did not attend this year’s Kenya Airways AGM – which is a shame because that was the inspiration for starting this blog. I heard there were the usual questions about buying or leasing planes, goodies for shareholders, loss of shares to Nyaga stockbrokers, perennial candidate making another run for board seats etc... I don’t know why the company shifted from the Bomas of Kenya to Kasarani for

• World Bank Africa Blog

  Posted: September 25, 2008, 2:25 pm by bankelele

  The World Bank has a new blog from its Chief Economist for the Africa Region - Shanta Devarajan.

• Mabati Bond

  Posted: September 23, 2008, 6:06 pm by bankelele

  One of Kenya's most successful private companies - Mabati is set to launch a corporate bond at the Nairobi Stock Exchange. This is a few months after two tranches of Barclays Bank Bonds, and with the Kenya Government still keen on a $500 million sovereign bond, it appears bonds are back just a year after they were out of favour at the NSE, with the equities markets having cooled off considerably.

• Kutwa Friday: Everything Must Go

  Posted: September 19, 2008, 5:36 pm by bankelele

  It’s been a while since the last Kutwa post. Here’s a rundown of things, most from the daily papers and various sites that have piled up Banking: Co-Operative bank are deep into the marketing program for their October 20 listing at the Nairobi Stock Exchange. They may also venture into mortgage finance - Barclays and Standard Chartered will both offer mobile messaging services to their

• Anatomy of Local Collapse

  Posted: September 17, 2008, 9:57 pm by bankelele

  With Lehman, AIG, Bear Stearns, Merrill Lynch and other banks in the news, or in need of a rescue, it’s time to look how does this play out locally? Kenya has experienced several collapses over the last few years – from listed companies (Uchumi supermarket), stockbrokers (Nyaga, Francis Thuo), insurance companies (Invesco), medical plans (mediplus), Banks (Euro, Daima, Charterhouse), and

• Facing South and West

  Posted: September 15, 2008, 5:34 pm by bankelele

  With the NSE under water, even lower than the post-election period, it may be time to look West and South for investment ideas. Not too far West, where the US where the financial tsunami is still warming up (threatening to take down Lehman and AIG today), or too far South where it will take some adjusting to Zuma time. Here there’s some previously unthinkable debate about postponing the Coop

• Real Estate Moment

  Posted: September 12, 2008, 5:36 pm by bankelele

  Thanks to Maishinski and Jim Dandy for real estate advice in advice in recent comments on housing investments for those in the Diaspora – touching on management, financing, project issues – and lead to cost/property price issues. What is the residential cost per square foot in Naiorbi? They are frequently cited for commercial properties, but not for residential properties where houses are

• Bank Rankings: Final Word

  Posted: September 11, 2008, 12:03 pm by bankelele

  The final word on the banking sector comes from the 2007 bank supervision (PDF) report from the Central Bank of Kenya. Notes: - CBK ranks banks using CAMEL (capital adequacy, asset quality, management quality, earnings, and liquidity); 10 banks are strong (down from 13 in 2006), 27 satisfactory, 8 are fair and none were ranked marginal or unsatisfactory. Overall the banking sector totaling 951

• Kenya Bank Rankings: June 08 Briefs

  Posted: September 8, 2008, 12:00 am by bankelele

  ABC; assets up 16%, deposits 17 and loan 7%, income is up 12% but expenses up 17% with no growth in 2008. Too early to tell about kisima at this indigenous bank> Bank of Africa : deposits up 20% and loan 34%, income 51% with expenses up 41% but NPA also up 59%. French bank, quiet style, but making more marketing efforts to shore up size. Barclays: assets up 22%, profit 21%, deposits 22% and

• Crown Restored

  Posted: September 8, 2008, 5:25 pm by bankelele

  The Capital Markets Authority has waived the 10% rule today to correct Crown Berger’s distorted share price - and the share is up about 50% at Kshs. 38.6 to about where it was before the mystery trade.

• Stolen Crown

  Posted: September 4, 2008, 7:37 pm by bankelele

  What happened to the shares of Crown Berger last Friday was an anomaly that gives a bad impression of the NSE. The company announced an increase in pre-tax profits on Thursday only for their shares to nose dive from Kshs. 38 to Kshs. 8 on Friday, before settling at 19.75, about 48% lower – on a volume of just 10,000 shares. Still as the running thread of NSE insiders shows, such one day spike

• Kenya Bank Top 10s

  Posted: September 3, 2008, 5:23 pm by bankelele

  half year to June 30 2008 Pre-Tax Profit: Barclays 4,295 million shillings [$64 million], KCB 3,394, Equity 2,997, Standard Chartered 2,321, Citibank 1,694, Cooperative 1,664, National Bank of Kenya 902, Commercial Bank of Africa 847, Investment & Mortgages 767, CFCStanbic 698 [$10.4 million] 12 month profit change : Ecobank 633% (to Kshs. 66m), Family 290%, Equity 189%, Bank Africa 105%,

• Kenya Bank Rankings

  Posted: September 1, 2008, 11:21 am by bankelele

  Kenya’s banks assets and profits at June 30 2008, for the first half of the year 1. Barclays; assets Kshs. 166,702 million [$2.48 billion], (pre-tax profit of Kshs. 4,295 million [$64 million]) 2. KCB; 160,230 (profit: 3,394) 3. Standard Chartered; 94,570 (2,321) 4. CFCStanbic; 78,948 (698) 5. Cooperative; 72,018 (1,664) 6. Equity; 70,102 (2,997) 7. Citibank Kenya; 59,495 (1,694) 8. Commercial

Blah blah blah

Fish cakes

Alas a fish cake.

Yet more fish cakes

Guess what ... yeah ... fish cakes.

The end of the fish cakes