Thursday, May 18, 2017

Coba annual report 2016

Front page of the annual 2016 report from Coba

For the report in full then please click here and for the previous brief summary then please visit Coba annual report 2016 and to find out more about Commerzbank then please go to analysis of Coba 2016.

In the financial statement below we can see the same trend going on as it has done from the very first day that I bought Coba back in 2012. Less income, less income, less income. Everything just keeps going down year by year quarter by quarter. It is not a happy sight to see. Their Cost to Income ratio is up at 75.5%. Their earnings are silly low with only 279 million € coming out in the end which is the equivalent of 0.22 € per share. Last year they paid out 0.2 € in dividends and this year dividends have been cancelled again. To me this clearly shows that the managers do not even have a clue how far out on the scale of trouble Coba is. The capital ratios have improved ever so slightly but the facts remain that Coba is still not a healthy bank.

Financial statement of Coba 2016

Conclusion: Last year I thought that Coba had reached the turn around point which was part of the reason for why I pushed in some more money into it. Now we are back the the previous trend again and I do not see the turn around besides from in the share price that have improved significantly lately. I will remain a grumpy shareholder.

No comments: