Maendeleo Bank (DAR:MBP) - Share price, News & Analysis

MBP fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	0/6
Past Performance	4/6
Financial Health	4/6
Dividends	0/6

MBP Overview

Maendeleo Bank PLC provides banking products and services in Tanzania.

Rewards

Earnings grew by 151.7% over the past year

Risk Analysis

Earnings have declined by 10.3% per year over past 5 years

Shares are highly illiquid

Does not have a meaningful market cap (TZS12B)

Shareholders have been diluted in the past year

+ 1 more risk

Price History & Performance

Summary of all time highs, changes and price drops for Maendeleo Bank
Historical stock prices
Current Share Price	TSh490.00
52 Week High	TSh490.00
52 Week Low	TSh490.00
Beta	-0.035
1 Month Change	0%
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	-16.95%
5 Year Change	-18.33%
Change since IPO	-18.33%

Shareholder Returns

	MBP	TZ Banks	TZ Market
7D	0%	0%	-0.07%
1Y	n/a	24.9%	3.4%

Return vs Industry: Insufficient data to determine how MBP performed against the TZ Banks industry.

Return vs Market: Insufficient data to determine how MBP performed against the TZ Market.

Price Volatility

Is MBP's price volatile compared to industry and market?
MBP volatility
MBP Beta	-0.035
Industry Beta	0.68
Market Beta	1

Stable Share Price: Insufficient data to determine MBP's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine MBP's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
2011	75	Ibrahim Mwangalaba	https://www.maendeleobank.co.tz

Maendeleo Bank PLC provides banking products and services in Tanzania. The company offers various account products, including current, savings, time deposit, Ahadi, Wekeza, community, salary, and fixed deposit accounts. It also provides various loan products, such as small group and consumer loan products; loan products to micro, small, and medium sized enterprises, as well as industrial and commercial customers; and poultry finance and housing microfinance, and Jamii and agribusiness loans.

Maendeleo Bank Fundamentals Summary

How do Maendeleo Bank's earnings and revenue compare to its market cap?
MBP fundamental statistics
Market Cap	TSh12.07b
Earnings (TTM)	TSh549.00m
Revenue (TTM)	TSh7.08b

22.0x

P/E Ratio

0.8x

P/B Ratio

Is MBP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MBP income statement (TTM)
Revenue	TSh7.08b
Cost of Revenue	TSh0
Gross Profit	TSh7.08b
Expenses	TSh6.54b
Earnings	TSh549.00m

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	22.28
Gross Margin	100.00%
Net Profit Margin	7.75%
Debt/Equity Ratio	59.5%

How did MBP perform over the long term?

See historical performance and comparison

Valuation

Is Maendeleo Bank undervalued compared to its fair value and its price relative to the market?

21.99x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MBP's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate MBP's fair value to establish if it is undervalued.

Price To Earnings Ratio

PE vs Industry: MBP is poor value based on its PE Ratio (22x) compared to the TZ Banks industry average (4.3x).

PE vs Market: MBP is poor value based on its PE Ratio (22x) compared to the TZ market (10.8x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MBP's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: MBP's PB Ratio (0.8x) is in line with the TZ Banks industry average.

Future Growth

How is Maendeleo Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.4%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Maendeleo Bank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Maendeleo Bank performed over the past 5 years?

-10.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MBP has high quality earnings.

Growing Profit Margin: MBP's current net profit margins (7.7%) are higher than last year (3.5%).

Past Earnings Growth Analysis

Earnings Trend: MBP's earnings have declined by 10.3% per year over the past 5 years.

Accelerating Growth: MBP's earnings growth over the past year (151.7%) exceeds its 5-year average (-10.3% per year).

Earnings vs Industry: MBP earnings growth over the past year (151.7%) exceeded the Banks industry 11%.

Return on Equity

High ROE: MBP's Return on Equity (3.4%) is considered low.

Financial Health

How is Maendeleo Bank's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: MBP's Assets to Equity ratio (5.7x) is low.

Allowance for Bad Loans: MBP has a low allowance for bad loans (37%).

Low Risk Liabilities: 85% of MBP's liabilities are made up of primarily low risk sources of funding.

Loan Level: MBP has an appropriate level of Loans to Assets ratio (70%).

Low Risk Deposits: MBP's Loans to Deposits ratio (99%) is appropriate.

Level of Bad Loans: MBP has a high level of bad loans (11.1%).

Dividend

What is Maendeleo Bank current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MBP's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MBP's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MBP's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MBP's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: MBP is not paying a notable dividend for the TZ market.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MBP's dividend in 3 years as they are not forecast to pay a notable one for the TZ market.

Next Steps

Explore strong dividend paying companies in the Banks industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

6.4yrs

Average board tenure

CEO

Ibrahim Mwangalaba (53 yo)

no data

Tenure

TSh13,650,000

Compensation

Dr. Ibrahim A. Mwangalaba serves as Managing Director at Maendeleo Bank PLC and serves as its Secretary and Executive Director since May 16, 2015. He holds Bachelor of Commerce (Marketing), MBA (Finance) a...

Board Members

Experienced Board: MBP's board of directors are considered experienced (6.4 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.9%.

Data	Last Updated (UTC time)
Company Analysis	2021/10/25 15:01
End of Day Share Price	2021/09/29 00:00
Earnings	2021/03/31
Annual Earnings	2020/12/31

Market Cap

7D

1Y

Updated

Data