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Satchu's Rich Wrap-Up
 
 
Tuesday 25th of August 2020
 



“I’m focused on something the market isn’t focused on. And that is the amount of debt that’s being created. Who pays for the party when the party is over?”
World Of Finance


“I am uncomfortable at the present time, not because of the virus, because I’m focused on something the market isn’t focused on. And that is the amount of debt that’s being created. Who pays for the party when the party is over?”


It took the U.S. “244 years to go from zero national debt to $21 trillion,” he said. 

“We will probably end this year with $27 trillion. That’s a growth rate in debt far in excess of what the economy is growing at and I think that’s going to be a problem down the road.”


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They fancied themselves free, wrote Camus, ―and no one will ever be free so long as there are pestilences. #COVID19
Misc.



―In this respect, our townsfolk were like everybody else, wrapped up in themselves; in other words, they were humanists: they disbelieved in pestilences.

A pestilence isn't a thing made to man's measure; therefore we tell ourselves that pestilence is a mere bogy of the mind, a bad dream that will pass away.

But it doesn't always pass away and, from one bad dream to another, it is men who pass away


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Currency Markets At A Glance
World Currencies


Euro 1.1824

Dollar Index 93.089

Japan Yen 106.25 

Swiss Franc 0.9092

Pound 1.3086

Aussie 0.7171

India Rupee 74.335

South Korea Won 1186.64

Brazil Real 5.6115

Egypt Pound 15.875

South Africa Rand 16.8668

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Retail sales in the covid-19 crisis have suffered more in EM than DM. @SergiLanauIIF
Retail & Manufacturing

Retail sales in the covid-19 crisis have suffered more in EM than DM. Even Spain, the worst affected DM, is bouncing back harder than the average EM. More successful virus control and more e-commerce might explain DM outperformance on this front.

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18. #Nigeria's GDP contracted by 6.1% year-on-year in the second quarter. @markets @paulwallace123
Africa

That's less than many other emerging markets that have reported Q2 numbers so far, but still shows the extent of the damage caused by the #coronavirus lockdowns and crash in #oil prices. 

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Even oil dependent Nigeria has outperformed most developed market economies in 2Q20 - (relative) positive signal for other SSA economies @RencapMan
Africa

Even oil dependent Nigeria (which because of the oil price plunge should be hit worse than many in Africa) has outperformed most developed market economies in 2Q20 - (relative) positive signal for other SSA economies

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Standard Chartered Bank Kenya Ltd.reports H1 2020 Earnings
N.S.E Equities - Finance & Investment


Par Value:                  5/-

Closing Price:           151.50

Total Shares Issued:          343510571.00

Market Capitalization:        52,041,851,507

EPS:             23.49

PE:                 6.450

HY Total Assets 327.198511b versus 294.542970b

HY Loans and Advances [net] to Customers 134.317139b versus 120.064909b

HY Total Operating Income 13.796516b versus 14.559215b

HY Loan Loss Provision 1.624970b versus 0.378942b

HY Profit Before Tax 5.105313b versus 6.920271b

HY Profit After Tax 3.233064b versus 4.705902b

HY EPS 9.17 versus 13.46 

StanChart is currently trading at a P/B multiple of 1.1x. 


31.3% y-o-y drop in profit after tax (PAT) to KES 3.2 BN. 

328.8% y-o-y rise in the loan loss provision expense to KES 1.6 BN.  

Net interest income dropped by 4.6% y-o-y to KES 9.4 BN 

Non-funded income declined 6.6% y-o-y to KES 4.4 BN

a 5.3% y-o-y decrease in staff costs to KES 3.3 BN.

Loan loss provision expense rose 32.8.8% y-o-y to KES 1.6 BN

profit before tax fell 26.2% y-o-y decline to KES 5.1 BN.

Customer loans and advances rose 11.9% y-o-y to KES 134.3 BN

investment securities rose by 3.2% y-o-y increase to KES 101.2 BN. 

Customer deposits saw a 12.3% y-o-y increase to KES 256.5 BN

Conclusions


StanChart can play solid defence which is the nature of the Game now. 

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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August 2020
 
 
 
 
 
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