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CFC-Stanbic 2009
the deal
#201 Posted : Monday, August 09, 2010 2:00:46 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
This stock is getting press here in Southern Africa...I think fund managers here are looking at it...
Scubidu
#202 Posted : Tuesday, August 10, 2010 12:04:40 AM
Rank: Veteran

Joined: 9/4/2009
Posts: 700
Location: Nairobi
I don't see what fund managers would want with this bank. What were the grow areas for the half year? Net interest income or non interest income. They're undercapitalized! All they're doing is charging high fees and removing once good accounts that made CFC Group attractive in the first place (ive banked with them for a while and preparing to leave). This year's performance is just smoke and mirriors. Everything is changing so fast that you can't know the true position of the bank. One balance sheet says something and other few months it's changed. I have been a shareholder for many years, but not impressed and I don't see why a fund manager would look at it now.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
VituVingiSana
#203 Posted : Tuesday, August 10, 2010 9:17:14 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
I&M Bank has 17 branches in Kenya (most in Nairobi) yet makes more profits than CFCStanbic!

DTBK & NIC Bank are far more profitable than CFCStanbic with a much smaller asset base!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#204 Posted : Tuesday, August 10, 2010 9:23:23 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
VituVingiSana wrote:
I&M Bank has 17 branches in Kenya (most in Nairobi) yet makes more profits than CFCStanbic!

DTBK & NIC Bank are far more profitable than CFCStanbic with a much smaller asset base!

@vvs this may change in a couple of years.
Life is short. Live passionately.
VituVingiSana
#205 Posted : Tuesday, August 10, 2010 9:58:06 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
sparkly wrote:
VituVingiSana wrote:
I&M Bank has 17 branches in Kenya (most in Nairobi) yet makes more profits than CFCStanbic!

DTBK & NIC Bank are far more profitable than CFCStanbic with a much smaller asset base!

@vvs this may change in a couple of years.
Well, true but I doubt the 3 banks will be doing nothing while CFCStanbic expands...

I&M, & NIC bought banks in Tanzania in 2009/2010...
DTBK has subsidiaries in Tz & Ug - In Rwanda/Burundi as well...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sparkly
#206 Posted : Thursday, August 12, 2010 1:32:13 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
What is the book closure date for the dividend in specie/cash dividend?
Life is short. Live passionately.
mukiha
#207 Posted : Thursday, August 12, 2010 1:47:44 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
...now, about that special cash dividend. you won't get it! It will be applied towards payment of stamp duty and withholding tax for the transaction.

So, unless you are exempted, forget the cash!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
sparkly
#208 Posted : Thursday, August 12, 2010 5:09:32 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
mukiha wrote:
...now, about that special cash dividend. you won't get it! It will be applied towards payment of stamp duty and withholding tax for the transaction.

So, unless you are exempted, forget the cash!

@mukiha as i understand it, the cash dividend will be applied to pay stamp duty and wht "where applicable" i don't see how stamp duty and wht will consume all of my 700 bob dividend, supposing i have 1,000 shares and am resident.
Life is short. Live passionately.
StatMeister
#209 Posted : Thursday, August 12, 2010 5:26:39 PM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
smile
A bad day fishing is better than a good day at work
PKoli
#210 Posted : Friday, August 13, 2010 8:55:56 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
sparkly wrote:
mukiha wrote:
...now, about that special cash dividend. you won't get it! It will be applied towards payment of stamp duty and withholding tax for the transaction.

So, unless you are exempted, forget the cash!

@mukiha as i understand it, the cash dividend will be applied to pay stamp duty and wht "where applicable" i don't see how stamp duty and wht will consume all of my 700 bob dividend, supposing i have 1,000 shares and am resident.


when are they paying the dividends?
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