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CFC completes integration
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Gatheuzi
#11 Posted : Thursday, March 18, 2010 4:35:28 PM
Rank: Veteran

Joined: 8/16/2009
Posts: 994
Customer's deposits were down from 61bn to 55bn. Loan book was more or less the same at 44bn. Iam not sure about the insurance business but the stock brokerage division will definately post a loss - at least considering the slowdown of the market last year. I think the move to list insurance and banking divisions separate is wise.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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kivairu
#12 Posted : Thursday, March 18, 2010 4:57:22 PM
Rank: Member

Joined: 3/5/2008
Posts: 532
Location: Nairobi
Actually the core banking T24 integration was on pilot phase testing in Oct2009, and has since been operational....whats up now is the implementation of state of the art CRM with seamless integration with T24...i dont know about the share value!Applause

Strive not to be a success, but rather to be of value. –Albert Einstein.
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ProverB
#13 Posted : Friday, March 19, 2010 12:46:44 PM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
@ Mukiha..please educate me.. Who owns CFC Life and Heritage???
I'm informed that Liberty S.A is taking it over..
What's the relationship between Liberty and CFC Stanbic?
What proportion of the outfit listed in the stock market is of CFC Life & Heritage?
..liberty take over of cfc life & Heritage will be complete..that "soon" was meant to have happened by now..plus possible change of name
Jus wondering... when it goes out that Heritage and CFC Life are no longer part of the outfit CFC Stanbic..do you think the market will remain the same concerning cfc stanbic? Especially to the retail investor who is unaware?
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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VituVingiSana
#14 Posted : Friday, March 19, 2010 1:40:47 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
There should be an official announcement on all this...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#15 Posted : Friday, March 19, 2010 3:12:05 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
ProverB wrote:
@ Mukiha..please educate me.. Who owns CFC Life and Heritage???
I'm informed that Liberty S.A is taking it over..
What's the relationship between Liberty and CFC Stanbic?
What proportion of the outfit listed in the stock market is of CFC Life & Heritage?
..liberty take over of cfc life & Heritage will be complete..that "soon" was meant to have happened by now..plus possible change of name
Jus wondering... when it goes out that Heritage and CFC Life are no longer part of the outfit CFC Stanbic..do you think the market will remain the same concerning cfc stanbic? Especially to the retail investor who is unaware?


CFC Life is owned by CFC Stanbic Holdings

CFC Stanbic is majority [60%] owned by Stanbic Africa

Stanbic Africa is owned by Standard Bank Group of SA.

Liberty is also owned by Standard Bank group

Heritage is majority [64%] owned by CFC Stanbic Holdings and minority [36%] by African Liaison Ltd

The idea announced in Sept last year was to De-Merge CFC life and Heritage from the CFC Stanbic Holdings by creating a new entity [probably called CFC Liberty ]

Shareholders of CFC Stanbic Holding will get one share in CFC Liberty for every share held in CFC Stanbic Holdings.

Then, Stanbic Africa will transfer it's allocation to Liberty Group Ltd - its subsidiary.

It is intended that the new outfit CFC Liberty will get listed at the NSE

This is why I am confident about this stock - CFC Stanbic Holdings. I am betting that after the demerger, the two new companies will be worth more than the combined entity....but I could be wrong!!

NB: the name CFC Liberty is my own creation!!!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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ProverB
#16 Posted : Friday, March 19, 2010 3:45:27 PM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
o!
That one sikujua!..n i thoght i can't learn somethin new on a friday! Thanks.smile

Just one thought..how does that affect the listed cfc stanbic? Diluted?
Is the 1 for 1 share to be paid for kama rights..or is it for free?..there are no such things as free shares..what's the catch here?
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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  | | Edit by user: Friday, March 19, 2010 3:49 PM | Reason: Not specified
mukiha
#17 Posted : Saturday, March 20, 2010 4:26:35 PM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
No payment will be required for the shares in "CFC Liberty".

You see; we the shareholders of CFC Stanbic Holdings already own a stake in CFC Life & Heritage. We want to hive these two entities from our group so that they stand on their own.

Therefore we shall give ourselves shares in the new company that we shall create. Thus we shall dilute the value (NAV) of our current shares in CFC Stanbic but at the same time get new share in the new company in exchange of the dilution.

My bet is that the total market value of the diluted CFC Stanbic Holding plus the new "CFC Liberty" will be greater than the current combined outfit.

But don't take my word for it: I am betting with free money, it won't hurt if I lose, but it will be exciting if I win!
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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ProverB
#18 Posted : Saturday, March 20, 2010 9:13:05 PM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
cool. so, this new outfit... when does it get listed? i don't have free cash..n not intending to be tied down..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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sparkly
#19 Posted : Sunday, March 21, 2010 6:12:15 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
ProverB wrote:
cool. so, this new outfit... when does it get listed? i don't have free cash..n not intending to be tied down..

@proverB so if you don't have free cash and don't want to be tied down, why bother?
Life is short. Live passionately.
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mukiha
#20 Posted : Monday, March 22, 2010 8:39:35 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
@proverB; in another thread [http://www.wazua.co.ke/forum.aspx?g=posts&t=5551&p=6] you say you have 500k to put into five counters - and that was just Friday. Now you say you don't have cash. Are you for real?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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