|
December 2011 Million Sh |
December 2010 Million Sh |
|
|
Net Interest Income |
16,223 |
11,713 |
|
Non Interest Revenue (NIR) |
12,447 |
10,438 |
|
Total Operating Income (TOI) |
28,670 |
22,151 |
|
Total Operating Expenses (TOE) |
14,361 |
11,297 |
|
Operating Profit |
14,301 |
10,854 |
|
Operating Margin % |
49.8 |
49 |
|
Loan Loss Provisions (LLP) |
1,629 |
1,904 |
|
PBT |
12,679 |
8,950 |
|
PAT |
10,325 |
7,131 |
|
Net Interest Margin % |
8.26 |
8.19 |
|
Return on Assets (ROA) % |
5.26 |
6.26 |
|
Return on Equity (ROE) % |
30.1 |
32.9 |
|
NIR to TOI |
43.4 |
47 |
|
Expense Ratio (Ex LLP) % |
50 |
51 |
|
EPS |
Sh2.79 |
Sh1.93 |
|
Dividend |
Sh1.00 |
Sh0.80 |
|
Liquidity Ratio % (CBK minimum 20%) |
37 |
40 |
|
Total Capital/Risk Weighted Assets (RWA) % (CBK minimum 12%) |
22 |
28 |
|
Net Non Performing Loans/Net loans and Advances % |
2.36 |
Commentary
The headline numbers are quiet strong. Total operating income surged by 29.4% year on year to stand at Sh28.6b on the back of a 38.5% increase in net interest income. Non- interest revenue surged by 19.2% year on year to stand at Sh12.b despite a huge drop in other income (bond trading income) due to a huge increase in forex trading income. Non interest revenue now makes up 43.4% of total operating income vs. 41% at KCB and 38% at Barclays Bank Kenya. The micro lender grew its loan book by 45% in 2011 to stand at Sh113b.