Bank Rankings

For the half year, as at June 30th 2005:
all figures in millions of shillings

Profit Before Tax
Barclays 2.1 billion
Standard Chartered 1.6 billion
Kenya Commercial 859 million
Citibank Kenya 574 million
National Bank of Kenya 432
Commercial Bank of Africa 482 million
Cooperative 380 million
Equity 233 million
Investment & Mortgages 208 million
NIC 193 million

Return on Assets
Development Bank of Kenya 4.06%
Dubai 3.38%
Equity 2.61%
Charterhouse 2.48%
Standard Chartered 2.35%
Barclays 2.05%
Citibank 2.04%
Commercial Bank of Africa 2.03%

Customer Deposits
Barclays 83 billion
Standard Chartered 59 billion
Kenya Commercial 57 billion
Cooperative 41 billion
National Bank of Kenya 25 billion
Citibank 21 billion

Net Loans
Barclays 63 billion
Kenya Commercial 33 billion
Cooperative 30 billion
Standard Chartered 28 billion ,461
National Bank of Kenya 23 billion
NIC 12 billion
Citibank Kenya 12 billion
CFC 11 billion

Tier 1
Tier 1 are banks whose assets exceed 25 billion shillings ($333 million)
Assets (profit before tax)
Barclays 102,802 (2,103) i.e. 103 billlion in assets, 2.1 billion in six month profits
Kenya Commercial 70,898 (859)
Standard Chartered 68,829 (1,618)
Cooperative 50,982 (380)
National Bank of Kenya 31,701 (432)
Citibank Kenya 28,174 (574)

Tier 2
Tier 1 are banks whose assets range from 6 to 24.9 billion shillings ($80 – 333 million) Note that CBA has gone from being a mid tier 2 bank to almost tier 1 since its merger with First American Bank.

Assets (profit before tax)
Commercial Bank of Africa 23,742 (482)
NIC 19,023 (193)
CFC 17,616 (70)
Investment & Mortgages 15,995 (208)
Diamond Trust 13,429 (146)
Stanbic 12,525 (144)
Housing Finance 9,719 (29)
Equity 8,925 (233)
Baroda 8,840 (163)
Imperial 7,542 (128)
Bank of India 6,301 (65)
Prime 6,048 (49)

Tier 3
Banks whose assets are below 6 billion shillings ($80 million)
Fina 5,865 (36)
Guardian 4,597 (34)
Giro 4,568 (23)
Habib 4,450 (56)
ABC 4,236 (65)
Akiba 4,157 (48)
Middle East 4,156 (48)
Southern Credit 3,945 (25)
Victoria 3,827 (67)
Equatorial 3,070 (61)
Charterhouse 3,067 (76)
K-Rep 3,026 (43)
Consolidated 2,650 (14)
Development Bank of Kenya 2,412 (98)
Chase 2,270 (27)
Transnational 2,140 (35)
Oriental (formerly Delphis) 1,629 (-36)
Fidelity 1,568 (13)
Dubai 1,095 (37)
City Finance 564 (8)

The Constitution

Kenyans have been asked to read the new draft constitution for themselves, which is now available (1.2 MB PDF) at the State House Kenya Website.

Year ends in June for some

Uchumi
Just two days after closing the register to commence a rights issue, Uchumi issued profit warning indicating that profits will fall short of previously expected levels or losses will be larger than expected for their year which ended on June 30 2005.

Portland Cement
The nationwide housing & building construction boom combined with the availability of constituency development funds led to an after tax profit of 608 million at the East African Portland Cement. But turning a foreign currency loss of 638m 04 to a 200m shilling gain in 2005 is the main reason for shareholders to be happy for their Kshs 2.50 dividend.

Banks
Banks must publish their half-year results by August 31 and so far the top banks are as follows, with CBA, CFC, Imperial, Paramount, HFCK and Stanbic and Universal still waiting for the deadline.

Six-month results:
Bank (profit before tax in millions of shillings)
Barclays 2,103
Stanchart 1,618
KCB 859
Citibank 574
NBK 432
Coop 380
Equity 233
I&M 208
NIC 193
Baroda 163

Others
Mumias will announce their annual results tomorrow, after which will come results from East African Breweries and ICDCI

Good Sports News Day

Cricket
An Indian newspaper reports that Kenya may be among six countries that could start playing one-day international cricket by the end of the year against Test Nations to give them more international exposure.

Soccer
Even though spectators will be barred from attending the Kenya vs. Tunisia World Cup qualifier, the match will be shown on Super Sport (confirmed: Saturday 03 September 15:45 – 18:00 SS3) and perhaps on NTV or KBC.

Motor Rallying
The 2006 Kenya Safari rally will be held in March 2006. It will be classified as a round of the African Rally Championships (ARC), and if successfully and profitably staged, could lead to the Safari being a World Rally Championships (WRC) event in 2008.

Where to buy Shares

These are the results of an informal research survey on stock brokers. It is the by-products of three different queries on information; one from a friend who asked me where to buy shares, second from Omani who had asked me to compare the various stockbrokers and third was a request from Afromusing who had asked how one could buy NSE shares while living in the US.

One first needs to open a CDS account which is free; by filling and signing a CDS 1 form, and providing two passport size photographs and a copy of your ID/Passport. The CDS 1 forms are available at all stockbrokers and can usually be mailed to applicants upon request.

Here are the survey results in reverse order:

E-mail not working
Ashbhu Securities Ltd. Finance House, 10th Floor, P.O. Box 41684 Nairobi Tel. 210178/212989 Fax. 210500 E-Mail: ashbhu@net2000ke.com

Nyaga Stockbrokers Ltd. Nation Centre, 12th Floor P.O. Box 41868 Nairobi Tel. 315628/9 Fax. 315630/315748 E-Mail: nyagastk@users.africaonline.co.ke

E-mail and web site not working
Suntra Investment Bank Ltd. Nation Centre, 10th Floor P.O. Box 74016 Nairobi Tel. 337220 Fax. 224327 E-Mail: info@suntrastocks.co.ke WEB: http://www.suntrastocks.co.ke

Francis Thuo & Partners Ltd. International Life House, 13th Floor P.O. Box 46524 Nairobi Tel. 226531/2/3 Fax. 228498 E-Mail: ftbrokers@wananchi.com WEB: http://www.ftbrokers.com

Kestrel Capital (Ea) Limited Hughes Building, 7th Floor P.O. Box 40005 Nairobi Tel. 251758 Fax. 243264 E-Mail: info@kestrelcapital.com WEB: http://www.kestrelcapital.com

No response to e-mail within 24 hours and web site not working
Discount Securities Ltd International House, 3rd Floor P.O. Box 42489 Nairobi Tel. 219552/38 Fax. 230987 E-Mail: discount@dsl.co.ke WEB: http://www.e-bsolutions.biz/discount

Solid Investment Securities Ltd Contrust House, 6th Floor P.O. Box 63046 Nairobi Tel. 244272/9 Fax. 244280 E-Mail: sisl@solidkenya.com http://www.solidkenya.com site under construction but not active

Standard Investment Bank Ltd. Hazina Towers, 17th Floor, P.O. Box 13714 Nairobi Tel. 220225/240296/227004 Fax. 240297 E-Mail:info@standardstocks.com WEB: http://www.standardstocks.com site under construction

No response to e-mail within 24 hours
Ngenye Kariuki & Co. Ltd: Travel (UTC) House, 5th Floor, P.O. Box 12185 Nairobi Tel. 224333/226250 Fax. 241825 E-Mail: ngenyekari@wananchi.com

Crossfield Securities Ltd IPS Building, 5th Floor, P.O. Box 34137 Nairobi Tel. 246036/245971 Fax. 245971 E-Mail: crossfield@wananchi.com

Reliable Securities Ltd. Standard Building, 3rd Floor P.O. Box 50338 Nairobi Tel. 241350/4/79 Fax. 241392 E-Mail: reliable@gt.co.ke

African Alliance Kenya Ltd Kenya Re Towers, Ground Floor, Upper Hill, P.O. Box 27639, 0506 Nairobi Tel. 2735013/2735154/2735138 Fax. 2731162 E-Mail: otienol@africanalliance.co.ke

Sterling Securities Ltd. Finance House, 10th Floor P.O. Box 45080, 00100 Nairobi
Tel. 213914/244077 Mobile: 0723153219/0734219146 Fax. 218261 E-Mail: info@sterlingstocks.com

CFC Financial Services – Stockbroking Division Corner House, Ground Floor P.O. Box 47198 – 00100 Nairobi Tel. 221452/3 Fax. 218813 E-Mail: cfcfs@cfcgroup.co.ke FYI: These are the brokers I use

Top Firms:

4. APEXAFRICA INVESTMENT BANK LTD
Rehani House, 4th Floor P.O. Box 43676,Nairobi Tel. 242170/220517 Fax. 215554
E-MAIL: invest@apexafrica.com 3 hours to respond to my e-mail
WEB: http://www.apexafrica.com site is a bit basic, and not updated much
Costs: 2.1% if transaction is worth less than 100,000 and 1.8% if above 100,000

3. DYER & BLAIR INVESTMENT BANK LTD
Loita House, 10th Floor P.O. Box 45396 Nairobi Tel. 227803/4/5 Fax. 218633
E-MAIL: admin@dyer.africaonline.co.ke 25 hours to respond to e-mail
WEB: http://www.dyerandblair.com Web site allows online account management, is up to date, but rather slow
Minimums: 100 shares per transaction
Commission: 2.1% for any deal less than 100,000 shillings and 1.8% for any transaction amount above that. Also charge revenue stamp duty of two shillings for every ten thousand shillings.

2. FAIDA SECURITIES LTD
Windsor House, 1st Floor P.O. Box 45236 Nairobi Tel. 243811/2/3 Fax. 243814
E-MAIL: faidastocks@wananchi.com 24 hours to respond to e-mail
WEB: http://www.faidastocks.com Have online account management and their web site is up to date
Minimums: 100 shares per transaction
Commission: 2.1% for transactions below Kshs100,000 and 1.8% for transactions above Kshs 100,000.

1. FRANCIS DRUMMOND & CO. LTD.
Hughes Building, 2nd Floor P.O. Box 45465, Nairobi Tel. 318690/318689 Fax. 223061
E-MAIL: info@francisdrummond.com e-mail response in 2 hours.
WEB:http://www.francisdrummond.com The web site is updated daily with company news and disclosures. They also have online account management features enabling clients to trade and manage their accounts through the web site, at no extra charge and many Kenyans in the diaspora are already using this service.
Minimums: starting trade is 100 shares for new clients
Commission: For purchases above 100,000 shillings, charges are 1.8% and below 100,000, charges are 2.1%.