Discussions on with IFC which may buy into I&M Bank (& possibly provide Bond Financing) like they did with DTB. This may obviate the need for a Rights Issue similar to what Equity Bank did with Helios.
http://www.equities.com/...nk-stake-business.story

2012 Ratios allow a lot of headroom for expansion without the need for additional Capital in 2013. The narrowest is the Total Capital/Total Risk Weighted Assets ratio of 17.34% vs 12% required. That means I&M (Kenya) can expand the assets by 30% without breaching the level. Furthermore, PAT (less dividend payout) for 1H will be added to the Capital allowing a further cushion. The 2012 proposed dividend is (using my calculations) equivalent to less than 1Q 2013 PAT leaving 2Q 2013 PAT to be added back to calculate Capital Ratios.

BCR & I&M (Tz) are well-capitalized i.e. allows for expansion without need for a capital injection in 2013. Mauritius is growing rapidly at 30% per annum but it is a small(er) operation vs Kenya & can be funded by I&M Bank (Kenya) the parent OR the Holding Company [once it is approved]. Mauritius may buy another regional bank.

2014 is a different story if I&M maintains this growth & expands regionally into Uganda or South Sudan.

Back on track. CBK has approved CTL's application to become a Bank Holding Company while 100% of I&M's shareholders approved the Reverse Takeover. Done deal. CMA will probably have no objections.

Listing on 25 June since there is no need for CTL to do a compulsory acquisition if they had more than 90% but less than 100%.

And now we wait for the 1Q 2013 results for I&M Bank. And I&M's subsidiary (BCR) may do an IPO on the Rwanda Stock Exchange too.

#MakingMoney2013&Beyond

#MakingMoney2013$Beyond

What are your praying @chiaroscuro. ... notice I&M is currently a great bank and also a great company