Profit Before Tax rose by 13.1% to hit Kshs. 2.1 Billion. Profit After Tax was up 10.4% to Kshs. 1.95 Billion
Subsidiaries in Uganda, Tanzania and Burundi contributed Kshs. 264 Million to the Profit After Tax, 13.6% of the total profit. At half year, the contribution was 12%
Cost:Income ratio was down to 53.6% from 52.82%
2010 vs. 2011 Analysis
2010 Kshs. | 2011 Kshs. | % CHANGE | |
TOTAL ASSETS | 80.2 BILLION | 107.2 BILLION | +33.6% |
NET LOANS AND ADVANCES | 50.1 BILLION | 74.6 BILLION | +49.1% |
CUSTOMER DEPOSITS | 62.5 BILLION | 85.9 BILLION | +37.3% |
LOAN:DEPOSIT RATIO | 80.07% | 86.95% | +6.9% |
TOTAL INTEREST INCOME | 5.44 BILLION | 6.7 BILLION | +23.1% |
TOTAL INTEREST EXPENSE | 2 BILLION | 2.02 BILLION | +1.4% |
NET INTEREST INCOME | 3.45 BILLION | 4.68 BILLION | +35.6% |
TOTAL OPERATING INCOME | 5.83 BILLION | 6.7 BILLION | +14.9% |
TOTAL OPERATING EXPENSE | 3.1 BILLION | 3.6 BILLION | +16.5% |
COST:INCOME RATIO | 52.82% | 53.57% | +0.7% |
PROFIT BEFORE TAX | 2.75 BILLION | 3.11 BILLION | +13.1% |
PROFIT AFTER TAX | 1.77 BILLION | 1.95 BILLION | +10.4% |
Total Assets increased by Kshs. 37 Billion to Kshs. 107.2 Billion
Customer Deposits was up 37.3% to Kshs. 85.9 Billion
The increased deposit base allowed DTBK to advance more loans to customers. Indeed, Net
Loans and Advances surged 49.1% to Kshs. 74.65 Billion
Total Interest Income was up 23.1% to Kshs. 6.7 Billion, helped by a 28.3% rise in interest from Loans and Advances to Kshs. 5.95 Billion. Interest from Government Securities slipped 20.4% to Kshs. 561 Million
Loan Loss Provision decreased by 25% to Kshs. 366 Million
Non Interest Income went down 15% to Kshs. 2 Billion as ‘Other Income’ fell by 81% to Kshs. 200 Million.
Fees and Commissions were up 41.8% to Kshs. 1.11 Billion
Foreign Exchange Trading Income registered a 30.8% growth amid the recent volatility of the Kenya Shilling to Kshs. 707 Million
Staff Costs increased by Kshs. 243 Million to Kshs. 1.43 Billion
Gross Non Performing Loans increased to Kshs. 915 Million from Kshs. 820 Million as a result of the increase in Net Loans.
The quality of the loan book (GNPL/Net Loans) still improved to 1.23% from 1.64%.
Net Non Performing Loans was up by 19.3% to Kshs. 108 Million
Q2 2011 vs. Q3 2011 (Quarter on Quarter Analysis)
Q2 2011 Kshs. | Q3 2011 Kshs. | % CHANGE | |
TOTAL INTEREST INCOME | 2.2 BILLION | 2.6 BILLION | +16.5% |
TOTAL INTEREST EXPENSE | 619.3 MILLION | 838.6 MILLION | +35.4% |
NET INTEREST INCOME | 1.58 BILLION | 1.73 BILLION | +9.1% |
TOTAL OPERATING INCOME | 2.2 BILLION | 2.47 BILLION | +12.4% |
TOTAL OPERATING EXPENSE | 1.02 BILLION | 1.41 BILLION | +38.7% |
COST:INCOME RATIO | 46.4% | 57.3% | +10.9% |
PROFIT BEFORE TAX | 1.18 BILLION | 1.05 BILLION | -10.4% |
PROFIT AFTER TAX | 818 MILLION | 612 MILLION | -25.2% |
A glance at the Quarter on Quarter analysis reveals Q3 was definitely tougher than Q2 for DTBK
Operating Expenses rose by 38.7% in the Quarter
Cost:Income ratio for the 3rd Quarter alone stood at 57.31%, 10.9% higher than Q2 2011 which had a Cost:Income ratio of 46.44%
It thus follows that Profits for the 3rd Quarter were lower than Q2 Profits
Following the results, DTBK is trading at Price Earnings ratio of 7.37
co-op analysis ya 9 months?
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