Kenya Commercial Bank | Resilient to headwinds
KCB reported a resilient set of FY '17 results despite the challenging operating environment. In line with our forecasts, EPS growth was flat as regulatory and macroeconomic headwinds dominated the rhetoric. However, the group benefitted from a “flight to safety†as deposits increased 11% yoy with fees and commissions generated on digital banking platforms up 50% yoy. KCB will benefit from an amendment to the interest rate regulations but the timing of such a change is difficult to predict as the banking sector is yet to produce an operating model acceptable to the regulator.
Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.
Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.
Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.