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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » HNB profit - great news!

HNB profit - great news!

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1HNB profit - great news!  Empty HNB profit - great news! Tue Aug 13, 2013 7:07 am

Balanced_Views


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
One of the first major banks to publish its Q reports, HNB, has shown a profit. A great sign since many were worried about losses for banks from gold related movements. If other banks also show profits, it will prove that people worried too much about gold prices (which are anyway on the way up)
This may be the start of a bull run as investors will return to buy banking shares.

2HNB profit - great news!  Empty Re: HNB profit - great news! Tue Aug 13, 2013 7:12 am

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
R u joker?? Does HNB ever make loss in da recent years? There r many facts to talk abt HNB since its profit had grown 21%.. It seems u dont know how to interpret income statement, rather identifying profit or loss. Don't be a joker and leave sum1 come with analytical knowledge to open a thread....

3HNB profit - great news!  Empty Re: HNB profit - great news! Tue Aug 13, 2013 8:45 am

malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

HNB has done extreamly well. It is evident from the fact the revenue has increased by 25%.

But its results are distorted by two major one time events, 1.5b provision for loan loss and 1.5b EBT provision writing back.

The loan loss provision has reduced the profit by 1.5b while EBT provisions writeback of 1.5b has reduced the personal cost by 75%, thereby increasing the profit by 1.5b.

The net effect is same, we can assume the profit shown is the profit they are going to earn in the next qtr.
It is a good principle by large companies to make provisions when they have excess profit and writing back again when they have less profit, thus balancing the very good results with with very bad results.

In future they will write back the loan loss provision when gold prices go up and again make EBT provision to reduce the excess profit.

4HNB profit - great news!  Empty Re: HNB profit - great news! Tue Aug 13, 2013 9:17 am

Prince

Prince
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ malanp

you are 100% correct. Banks keep huge provisions on their 1st Q and 2nd Qs as a practice from long before to mitigate any unexpected in 3rd & 4th. This year Banks have to have keep a sizable provision for Gold pawning as forecast Gold-trend is not that favorable. SAMP is exposed to around 50Bn in lending against Gold as revealed. HNB also having a considerable amount. COMB is the least exposed. ( 5% of the loan fortfolio it seems) .
This is the reason we dont see the anticipated bank run in Aug.

5HNB profit - great news!  Empty Re: HNB profit - great news! Tue Aug 13, 2013 10:21 am

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
@ malanp,
I don't think its deliberate smoothing, its because NPL has gone up, this was witnessed across the sector. HNB says,

During first half of 2013 HNBs individual impairment provision improved marginally while the Collective Impairment provision on individually insignificant loans increased by 186% for the H1 2013. While the increase in collective provisions are reflective of higher NPA of 4.55% (though it has improved from 4.8% in 1Q 2013), the conservative provisioning policy adopted by HNB of providing 100% for all impaired loans which are considered to be individually insignificant (irrespective of collateral value) has resulted in a provision figure which is significantly larger than what is required by the regulatory guidelines. The overall provisioning cover of the Bank has improved to 69.1% from 67.6% in December 2012. (provision cover on impaired loans improved to 77.6% from 74% in December 2012).

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