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I&M Bank to List at NSE via City Trust.
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sparkly
#81 Posted : Wednesday, February 20, 2013 7:29:58 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
xtina wrote:
Snapped few shares when it was 90, me is a happy, happy girl smile


Congrats gal.

Introduce me to your sources.
Life is short. Live passionately.
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sparkly
#82 Posted : Wednesday, February 20, 2013 7:33:44 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
mwekez@ji wrote:
@Aguy, like @VVS has said. ..... also put into consideration that I&M is a growth stock with huge potential. Valuations could be adjusted upwards as info ticks in


@mwekez@ji's, @ VVS's intimate knowledge of his stock has paid off beautifully.
Life is short. Live passionately.
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VituVingiSana
#83 Posted : Wednesday, February 20, 2013 4:53:51 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,354
Location: Nairobi
I just heard that CTL shareholders have passed the resolution to take over I&M Bank while I&M Bank shareholders passed the resolution to be 'bought' out by I&M Bank subject to 90% approval [for a complete takeover] from shareholders as well as regulatory approvals.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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BGL
#84 Posted : Thursday, February 21, 2013 12:48:54 AM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
daily nation pp 40

The new outfit will be called I&M HOLDINGS LTD
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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mwekez@ji
#85 Posted : Thursday, February 21, 2013 9:23:34 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
It’s all systems go. A smooth ride all the way to deal conclusion …. &yea, a smooth ride all the way to the bank.
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mwekez@ji
#86 Posted : Friday, February 22, 2013 9:44:46 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
City Trust split to spur trading at stock market http://www.businessdailyafrica....0/-/327qalz/-/index.html
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VituVingiSana
#87 Posted : Tuesday, April 16, 2013 4:36:06 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,354
Location: Nairobi
I&M Bank has reported 2012 EPS at 134/- (or something close to it) with a weak increase in earnings in Kenya due to high cost of deposits & volatile forex environment.

Assumptions: I expect a 20% increase in 2013 with a boost from Rwanda (acquired in mid-2012) & Kenya (2013 is calmer, elections are over, interest rates have stabilized, loans will grow).

Tanzania and Mauritius will probably be steady performers.

134 x 120% = 161 (EPS based on current number of I&M shares) which when adjusted for the split (post-merger) = almost 12/-

If we use an PER of 10 then this is 120/- per share. If I calculate backwards then current City Trust should trade at 120 x 5 = 600 vs last traded price of 448
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#88 Posted : Wednesday, April 17, 2013 12:27:52 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
I&M Bank has reported 2012 EPS at 134/- (or something close to it) with a weak increase in earnings in Kenya due to high cost of deposits & volatile forex environment.

Assumptions: I expect a 20% increase in 2013 with a boost from Rwanda (acquired in mid-2012) & Kenya (2013 is calmer, elections are over, interest rates have stabilized, loans will grow).

Tanzania and Mauritius will probably be steady performers.

134 x 120% = 161 (EPS based on current number of I&M shares) which when adjusted for the split (post-merger) = almost 12/-

If we use an PER of 10 then this is 120/- per share. If I calculate backwards then current City Trust should trade at 120 x 5 = 600 vs last traded price of 448


This bank is clearly a gem. Even worldbank is keenly seeking a stake just like in DTB and Gulf >>> http://www.businessdailyafrica....08/-/uub4co/-/index.html
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Aguytrying
#89 Posted : Wednesday, April 17, 2013 12:58:46 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
@VVS. I strongly agree. I had predicted 120 on a post on this thread too. a 100% profit for chumps who got in at 300. not bad at all. upon listing if the bus doesnt turn into a rocket. maybe worth a pop at 80-90.
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#90 Posted : Wednesday, April 17, 2013 1:26:27 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,354
Location: Nairobi
Aguytrying wrote:
@VVS. I strongly agree. I had predicted 120 on a post on this thread too. a 100% profit for chumps who got in at 300. not bad at all. upon listing if the bus doesnt turn into a rocket. maybe worth a pop at 80-90.
Looking at the numbers:

2012 EPS of 134 = post split of 10
2013 forecast EPS of 161 = post split of 12

There is a regional acquisition mentioned that Bank One (Mauritius) is expected to make in 2013. I assume it is in one of the islands like Reunion (French territory & PROPARCO is French), Madagascar (French speaking) or even Mozambique (huge growth potential).

When regional banks (KCB, Equity) are going at 11 PER then 120 is not a stretch. Can I buy at 80? I would love it!!! At 90, still loving it!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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