1%
August 31st is the deadline fro Banks to report their un-audited quarterly accounts as at June 30th. So far all nine Banks have posted profits at about 1% return on total assets – with Dubai Bank the highest so far at 3.38%.

Equity turnover
Many employees of Equity Bank may not see the may not see the pot of gold at the end of the rainbow that is the Bank’s IPO later this year as staff turnover is very high at the rapidly expanding Bank. Long working hours in extremely busy banking halls are the norm and unexcused employee absences often lead to instant dismissal

Upper Hill CBA
CBA new Upper Hill headquarters building should be ready late this year. Following the merger with First American, some Nairobi branches, and one in Mombasa will be closed next year.

Maximise Kencom
KCB will close its Tom Mboya and Moi Avenue branches. They will expand the Kencom banking hall, which has been underutilized for years. The KCB Card Centre has already been removed to Sarit Centre from the Moi Ave. branch which occupied two buildings.

Citibank N.A. Kenya 25.1 billion assets
Citibank’s overall performance dipped significantly compared to 2003 – the bank returned a profit after tax of 124 million, down from 524 million the year before. Citibank earned 350 million less from government securities, other income reduced by 80 m and the provisions for bad debts increased by 50 m – all contributeing to its drop from 2003 numbers despite reducing its staff costs from 602 to 465 million during the year. The Bank had customer deposits of 19.5 billion which it invested as loans – 9.6 billion and government securities – 4 billion (down from 9.3b in ’03) Citibank ended the year with a huge cash position – 8.1 billion placed in other banks and 2.1 billion in their accounts.

Dubai Bank 0.9 billion assets
The Bank ended the year with customer deposits of 477m and loans of 550m. Shockingly the bank has interest income of 127 m and interest expense of only 2 million – leading to 126 million in net interest income – don’t their depositors care about interest?

Bank of Baroda 8.3 billion assets
The bank had customer deposits of 7.1 billion, customer loans of 2.7 b and government securities of 4.6 b. The Bank ended the year with profit after tax of 202 million, which was up from 97m in 2003.

Habib Bank AG Zurich 4.45 billion assets
The Bank increased its customer deposits from 3.4 to 3.8 billion – and advanced 1b in customer loans, 2b in government securities. Profit after tax was 39 million, down from 53m in 2003.

Middle East Bank Kenya 4 billion assets
The Bank increased its customer deposits from 2.4 to 3 billion – and had customer loans of 1.6 b, with 1b placed in other banks. It had net interest income of 135 million, but a foreign exchange loss of 7 m (2003 gain was 35m) contributed to a 60% reduction in net profit for the year – 23 million (down from 56m profit in 2003).

Oriental Commercial Bank 1.6 billion assets
formerly Delphis Bank, and before that BCCI
The Bank’s position worsened this year with a pre-tax loss of 368 million (268 million after tax) compared to a 230 million loss in 2003. The Bank had no net interest income in 2004 (a loss of 627, 000 shillings) compared to 31 million in 2003. Also the insider loans position changed from 521m in ‘03 to 12 m in 2004 and the Bank had to provide 295 million for bad debts during the year – leaving a total non –performing portfolio of 1.12 billion.