📈 Here are some key insights from Standard Chartered Bank Kenya Ltd's unaudited quarterly group results:
1/6 @StanChartKE Limited has been experiencing consistent growth in loans and advances to customers, and total assets.
Loans & Advances to Customers
Loans and Advances to Customers have been volatile over the years, with fluctuations from Ksh117.56 billion in Q1:2019 to Ksh128.09 billion in Q1:2022.
However, the bank grew its Loans and Advance to Customers to Ksh137.11 billion in Q1 of 2023,… twitter.com/i/web/status/1…
@StanChartKE Limited's assets have been on a growth trajectory, increasing from Ksh301.37 billion in Q1:2019 to Ksh388.64 billion in Q1 of 2023.
Customer Deposits for @StanChartKE have consistently been increasing from Ksh232.77 billion in Q1:2019 to Ksh302.95 billion in Q1:2023.
2/6 @StanChartKE Limited's Loan to Deposit ratio (LDR) declined from 51.54% in 2020 to 45.26% in Q1 of 2023. This indicates that the bank is holding more deposits than it is lending out.
3/6 @StanChartKE Net Interest Income (NII) increased significantly to Ksh6.89 billion in Q1 of 2023. Although growth rates were volatile in the past years, the bank is now on an upward trend.
4/6 Non-Interest Income grew by 55.54% in Q1 of 2023, largely driven by Foreign exchange trading income which grew to Ksh2.19 billion in Q1:2023 from Ksh1.02 billion in Q1:2022.
5/6 Profitability is increasing. The Profit after tax grew from Ksh2.01 billion in 2020 to Ksh4.03 billion in Q1 of 2023. The bank's Cost to Income Ratio decreased from 51.98% in 2020 to 40.25% in Q1 of 2023, indicating their efficient operations.
6/6 Share Price declined from 161.82 in end Q1 of 2020 to 142.00 year to date. The Price to Book Ratio declined from 1.23 in Q1 of 2020 and currently at 0.89, indicating that the bank's stock is becoming more undervalued. #banking#kenya#financialresults
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I have been employed for 32 years. I started working in 1992 as a teacher in Nyamira. In 1995, I was suspended from the teaching job, and I opted to resign. I stayed a whole year without income and even went back to my father’s home....
In 1997, I joined Kenya Post and Telecommunications. It’s nowadays simply known as Posta. I started at the Kisumu office. I was later transferred to Mombasa, and eventually, in 1999, I got promoted and sent to Nairobi office.
Back then, Kenya Post and Telecommunications had the monopoly of sending letters or parcels, we provided call services through phone booths, telephones in offices or people’s homes and at the turn of the millennium, we were the first to install internet-enabled computers before cyber cafes became common. ....
It was a pretty good job, and I was earning Sh 27,000. I got married when I had my teaching job, and my wife, also a teacher, left me when I was jobless. We only had one child together.
I got married again when I was based in Nairobi, this time to a nurse. We had two children together. Life was good. I lived in a government house, my job was permanent and pensionable, and I was a rising star at work....
Sarah. She’s 30 years old, lives in Athi River, and has a steady job in marketing.
On paper, her life looks pretty good. She earns 400K a month, has a decent apartment in her neighborhood, and can afford to go out to eat with friends on weekends.
From the outside, Sarah’s life looks successful — she’s living the "African Dream" But if you were to take a closer look at her finances, you’d see a very different picture.......
She wakes up early for her commute to work, knowing that her paycheck will hit her bank account in just a few weeks.
She’s grateful for the job that pays her well, but it never feels like enough.
When she gets home in the evening, the reality sets in. The bills are waiting. Rent, utilities, credit card payments, her HELB loan, black tax, and the list goes on...
Sarah’s monthly expenses eat up most of her paycheck.
After paying rent for her one-bedroom apartment, there’s barely anything left.
She has a car loan, which she just had to refinance because the payments were too high. Her student loans — which seemed so manageable when she first graduated —are still pending.
And then there are the credit card bills. She had put a few big purchases on them over the years, thinking she’d pay them off later.
But now, with interest piling up, she’s only able to make the minimum payments...
Retirement Rich But a Health Crisis Away from Misery 🧵🧵
James had always been a hard worker.
He was the type of person who believed in earning his keep, planning for the future, and saving for rainy days.
For over 30 years, he worked diligently at his job, often staying late at the office, always thinking about the future. He knew that retirement would come one day, and he wanted to be ready....
Every paycheck, he set aside a portion—some into a savings account, others into various investments.
He was building what he liked to call his "retirement wealth basket."
It wasn’t easy, but he always told himself that the sacrifices today would pay off tomorrow....
By the time James reached 65, he was ready to retire.
His wealth basket had grown. He had enough savings to live comfortably without needing to work again. The dream of spending his days relaxing, traveling, and spending time with his family was finally within reach.
He felt a sense of pride—he had worked so hard for this moment, and it was just around the corner....
For Gachora, he seems to be the man that audaciously believes himself into greatness!
On his LinkedIn profile, he states " I have differentiated myself by starting with the end in mind placed against a strong belief that I can model anything.”
Armed with a Degree and a Masters in Electrical Engineering, one would think Gachora would be busy modeling signal processes, network traffic, and data transmission.
And how wrong can one be!
Surprisingly , the man is busy ‘modeling’ in the financial services industry, sitting as Group MD of a leading Tier 1 bank and even more surprisingly, as the chairman of the banks’ lobby, @KenyaBankers ....
He went to Alliance. 😉
“He was at the top of his class for the five years he was in school,”
~ Mr. Khaemba, former Principal of Alliance High School
In form five, John would get a once in a lifetime opportunity to go to America on an exchange program. His school had a program with an American school, and he was chosen based on his academic performance and the teacher's view that if he did not go on this trip, he would never have the opportunity again in his life.....
You may have heard the old proverb, “Shirtsleeves to shirtsleeves in three generations.”
In Japan, the expression goes, “Rice paddies to rice paddies in three generations.”
The Scottish say “The father buys, the son builds, the grandchild sells, and his son begs.”
In China, “Wealth never survives three generations.”
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Imagine you work so hard to build long lasting wealth by dedicating yourself to saving money with a long term approach to investing, only for your third generation to burst your bubble!
Or a man working hard to buy a piece of land, his son building a successful business on that land, but then the grandchild, instead of taking care of the business, sells it off without thinking about the hard work put in!
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The three-generation cycle, otherwise known as Generation Curse or Cycle of Wealth, is a phenomenon where wealth and success accumulated by one generation are lost or squandered by the third generation.
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