The Bank made Kshs 1,477,182,000 in 2010. This works out to an EPS of approximately Kshs 5.40. At a price of 60, it is therefore slightly more expensive than NIC & DTB on a PE basis.

Its shareholder funds at 31.12.10 were Kshs 10,034,730,000. @60, this means its NBV per share is Kshs 36.67. On that basis it is somewhat cheaper than the two banks above.

It is worth noting that in 2010, CFC Bank made Kshs 1,534,534,000 from other income, primarily through trading in bonds. This was almost 18% of its operating income which was rather high. If there is a hit on this in 2011, your guess is as good as mine as to what will happen to its profits.

On the positive side, I reckon CFC Stanbic to be one of those banks that have never realized their potential. So maybe if they got their act together, they might just surprise us one of these days. They are one of my bankers, and I know the frustrations that I have been going through for the last couple of years.

Agreed Mwanahisa. The problem is that they are taking too long to realize their value. What really ails the bank, is it the management issue (control from SA)

Let it fall so that we have something to buy...if it goes to 36-44 i will definitely sell some of my holdings n go into CFC...this guys r verry innovative look at products such 100% morgage...whoch Kenyan Bank has that?

They will be routed in those areas. Kuna wenyewe uko

Shareholders in this bank are showing us how to defend your share price. They seem to have set a marker - price should not fall below 50. It's been well defended at 52.