Kenya Bank Rankings

June 2007 [ and change from June 2006]

Tier I banks
1. Barclays Kshs. 136.54 billion in assets ($1.95 billion) (up 21% from June 2006)
2. Kenya Commercial 96,532 [17%]
3. Standard Chartered 92, 743 [13%]
4. Cooperative 58,712 [3%]
5. CFC /Stanbic 55,534 +
6. National Bank of Kenya 42, 142 [25%]
7 Commercial Bank of Africa 36,217 [10%]
8. Citibank Kenya 36,147 [8%]
9. Equity 29,888 [116%]
– CFC 27,926 [25%]
– Stanbic 27, 608 [62%]
10. NIC 27,583 [22%]

Tier 2 banks
11. Investment & Mortgages 24,494 ($349 million) [19%]
12. Diamond Trust 24, 484 [37%]
13. Baroda13,253 [24%]
14. Imperial 11,039 [30%]
15. Prime 10,773 [25%]
16. Housing Finance 9,665 [-2%]
17. Bank of India 9,552 [21%]
18. EABS 9,049 [5%]
19. Fina 7,688 [25%]
20. Bank of Africa 7,347 [26%]
21. Family Finance 6,698 [73%]
22. K-Rep 6,358 [43%]

Tier 3 banks
23. Habib AG Zurich 5,393 ($77 million) [5%]
24. Giro 5,317 [3%]
25. ABC 5,282 [10%]
26. Guardian 4,970 [2%]
27. Chase 4,826 [74%]
28. Southern Credit 4,581 [8%]
29. Victoria 4,081 [2%]
30. Consolidated 4,001 [28%]
31. Development Bank of Kenya (DBK) 3,876 [35%]
32. Equatorial 3,832 [5%]
33. Habib Bank 3,485 [10%]
34. Middle East 3,309 [-9%]
35. Credit 2,963 [5%]
36. Fidelity 2,779 [43%]
37. Transnational 2,720 [24%]
38. Paramount Universal 2,271 [27%]
39. Oriental (formerly Delphis) 1,624 [17%]
40. Dubai 1,437 [26%]
41. City Finance 510
— Charterhouse 3,938
+ Merger, awaiting approval

Asset growth
industry average 24%
Equity 116%
Chase 74%
Family Finance 73%
Stanbic 62%
K-Rep 43%

Profit growth
average 76%
Bank of Africa 825%
Habib bank 467%
Giro 300%
Paramount universal 300%
Fidelity 222%
EABS 200%
Southern credit 186%
Chase 179%
Oriental 115%
Equity 107%

Loan grwoth
average 19%
Equity 785
Family Finance 67%
K-Rep 66%
Diamond Trust 51%
KCB 49%

Deposit growth
average 25%
Equity 111%
Stanbic 95%
Chase 84%
DBK 63%
Family finance 57%

Kutwa Monday

The Capital Markets Authority (CMA) seeks to extend the statutory management of Francis Thuo stockbrokers stockbrokers (by the Nairobi Stock Exchange) for another 6 months (this is due to expire on September 6)

Are we ready for Basel II
Diamond cash again?: 1 ½ years ago the bank raised 735 million shillings, and now they’re back for more cash as are NIC also with a rights issue (and bonus share). These fast growing mid-size banks want to comply with Basel II by 2010 which requires that they have adequate capital to cover not just credit risks, but also market and operational risks

Mumias glazing: Mumias dressed up some bad news glazed over reduced sales (-10%), profit (-9%), and cash with the promise of a dividend and a 2 bonus shares for each held – which apparently worked as the share closed 8% up on the previous week. . Still even the Business Daily was moved to decry insider trading in Mumias and EABL shares this past week

Opportunities

Road audits: from the Kenya Roads Board for engineering firms to team with financial audit firms to audit road construction work on behalf of the government by performing technical, performance and financial audits. D/l is 24/9

Strathmore finance seminar: on Friday September 7 at the Hilton on Kenya as an emerging capital market

Jobs

Celtel: revenue assurance & fraud manager, treasury & tax manager. D/l is 7/9

Director of information & public communications of the government of Kenya. details here and d/l is 7/9

Marketing managers (3) [branding, core network, wireless] at Huawei: apply to Kenya@Huawei.com by 14/9

Editorial staff at the Nation media group: they are looking for website editors, owners of popular blogs in east Africa, sub editor with niche publications – in their 20”s and 30’s. apply for positions by picking any story in the nation or east African, rewrite it and send it back to editstaff@nation.co.ke by 10/9

Popote wireless: head of sales, IT account manager, sales engineers. Apply to hr@popotewireless.co.ke 14/9

Safaricom: principal credit controller, retail center agent, sales analyst, senior marketing & planning analyst. D/l is 7/9

Governance advisor – Kenya for the World Bank – d/l is 13/9

Best investment for a book lover

Book villa anniversary: Two years of great reading great reading courtesy of Book Villa.

I got my statement today for my second year in the Book Villa club which shows I read 25 books, ½ of which were non fiction – a slight improvement from year one

So, if you leave reading books, desire variety, or find the cost of new books prohibitive, check out Book Villa.

Mo(i) money, more problems

That was an amazing look at the inner working of the top of Kenya’s finance.

It appears to be largely based on the work of John Githongo as a lead into tracing and digging into banking channels

  • The report appears incomplete and in need of a Kenyan partner to edit for misspellings of Kenyan names and correcting aspects of company ownership such as Bamburi, CFC, Kenol, and Bidco
  • Proves that tabloids like the Weekly Citizen are often correct in their investigative business stories – you can’t make this stuff up.
  • Scary that a company called “Government of Kenya” existed.
  • Some people fingered by Kroll as willing to give information may have to be on the look out.

Download here

Bank Sold

Name this bank?
The deal of the year brings together Stanbic and CFC Banks merge together and is expected to be finalized next month with only Central bank and CMA approval left.

The combined, but yet to be named, bank will have assets of over 55 billion shillings ($800 million), deposits of 43 billion, loans of 30 billion and a pre tax profit as June 2007 of 934 million ($14 million)

Mzalendo bank account
Commenting on the report on bank charges released this week, The Governor of the Central Bank called for a Mzalendo bank account which would probably be akin to mzansi from South Africa which is a low cost account at several banks (with wide branch networks – e.g. KCB, Equity, Postbank) that has similar features and charges at all the banks

banking is not cheap

A recent report released on the banking sector shoed that banking not cheap is not cheap for most account holders .

This should not be a surprise to the public who read about the bank profits or the authorities who are sent all charges and tariffs by the banks each month

There’s already been grumbling from research firms ho say a local firm could have carried out the survey and some banks who say the report is inaccurate.

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