For somewhat inexplicable reasons, KCB remains undervalued by the market. But now, at last, we have started to see small upward movements. I do not think the stock is likely to dip below 20 again, unless there is another rights issue, which is clearly not on the cards. KCB is more likely to settle at 26-27, but could well hit the 30 mark by year end. The bank's fundamentals are very correct and a sensible investment strategy is in place. I think if anyone is willing to risk and wait 2-3 years, the capital returns will have more than doubled.