CFC Stanbic Holdings,a listed integrated financial services group released their Full Year 2015 results, recording a 13.7% decrease in profit after tax to Ksh 4.9Billion.
Key highlights:
- Its Full Year 2015 Earnings Per Share(EPS) stood at Ksh 12.41 down 197 bps.
- Net Interest Income rose 9.9% to KES 9.3 Billion.This was attributed to a 26.6% increase in loan and advances to Ksh 128.2 Billion and partly due to margin compression following successful securing of term funding to support loan growth. Operating expenses grew by 2.0% due to liquidity tightening in the market and the consequent rise in the interbank interest rate.
- Non-funded income declined by 9.0% to 7.6 Billion largely due to a 1,573% surge in the foreign currency translation difference to KES 1 Billion. This was primarily due to translation losses from South Sudan’s currency devaluation. Trading income also declined 9.9% to Ksh 216.0 Million due to a harsh trading environment in the Kenya’s bond market. However, excluding South Sudan’s operations non-funded income growth was 13% driven by increase in transactional volumes and fees from trade finance.
Share Price Movement
CFC Stanbic Holdings is currently trading at a P/E ratio of 7.1x, similar to the industry median.On Thursday, CfC Stanbic Holdings closed at Ksh 85 which is 19.72% above the 1-Year low of Ksh 71 set on Feb 12, 2016.
Below is the share Price Movement over the last One year
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