CfC Stanbic Bank has installed a new core banking platform, Temenos (T24), the last phase in the integration of its operations.

Previously both banks were running their operations on Bankmaster system which could not integrate their different operations with CfC having a focus on retail bank while Stanbic bank was largely focused on corporate banking.

The implementation of the new system will centralise back office functions allowing the bank to redeploy staff to attend to customers.

Whereas the banks have largely retained their independent operations, integration will help reduce the cost of operations, enhance efficiency and overall oversight of the bank operation…Business Daily

I think its a good time to get in. The sleeping giant is about to awaken. That 83B in assets can now be put into good use.

sure sure sure...i have been zooming on and off on cfc stanbic...they have 2 much assets on them surely they can do something with them...cfc stanbic currently trades at ksh 45.50 whereas standard bank Namibia trades at ksh 1000...what about the listing of their insurance arm as a separate entity on the nse...how far have they gone with that??? otharwise its serously undervalued at ksh 45....

I have some 'old' shares since CFC Bank days...
While most other banks have grown the profits, CFCStanbic has been a DUD...

Look at profits for NIC, DTB & I&M Bank... these were 50% of the (balance sheet) size of CFC Stanbic (same size as the old CFC Bank) yet the PAT is the same!!!

NIC, DTB & I&M manage the same PAT as CFCStanbic!!!

Sorta reminds me of KCB & BBK... Same balance sheet size (actually KCB > BBK) but BBK profits almost 2x KCB...

@mukiha - A large portion of the NAV is 'goodwill' acquired during the purchase of Stanbic by CFC (or was it vice versa)...

Is it a case of an overzealous papparazi or? I know for certain CFC put in T24 in 2006, they were no 1 or 2 in this market. it's stanbic that is jumping into T24, so what's new here.....this transaction keeps smelling of Barclays / Nile with each passing day. By the time they are done really intergrating, a lot of CFC clients and staff will have left, leaving us to wonder what they bought beyond the insurance businesses...