Apex Africa Capital Limited is a non-deposit taking institution licensed by the Capital Markets Authority and is a Member of the Nairobi Securities Exchange.
Fixed Income: CBK wants back your cash!
In the past week, key money market liquidity indices retreated on a week-on-week basis; average interbank rate hovered at the 11% ceiling compared to the 19% levels in the previous week. However, the Central Bank through its Open market Operations ‘OMO’ sterilized the excess liquidity, mopping upto Kshs.28bn at a ceiling of 15.50% via the repo market. In the secondary market, sell-buy backs hovered close to the ‘threshold’ after accounting for 45% of the week’s total traded volume. Trades were[...Read more]
Equity Bank’s Q4 EPS up 19%q/q, tops our forecasts
Equity Bank’s operations for the 3-Month period to 31st December earned Kshs.0.82 per share, a 18.66%q/q; 51.18%y/y growth; this topped our Q4 forecast of Kshs.0.56 per share. For the period, total core funded income grew 10.32%q/q at Kshs.5.79bn, driven by a 27.65%q/q growth in interest income from loans and advances. This, however, was largely in line with our forecast of Kshs.5.50bn. For the full year 2011, total funded income grew 40.39%y/y at Kshs.19.34bn against our full year forecast of Kshs.19.05bn.[...Read more]