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CFC-Stanbic 2009
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VituVingiSana
#11 Posted : Monday, April 12, 2010 10:30:49 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
LOL...

NIC, DTBK, I&M each have about 50% of the balance sheet of CFC Stanbic lakini each made over 1bn PBT... way more than CFC Stanbic...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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JabaBoeku
#12 Posted : Tuesday, April 13, 2010 4:28:54 AM
Rank: Member

Joined: 4/28/2008
Posts: 53
Bigger does not necessarily mean better. i'd give it some time before diving in... plus poaching competitor's good staff does not immediately translate into impressive results!
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sparkly
#13 Posted : Tuesday, April 13, 2010 5:47:39 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@jaba better buy when you got time, otherwise you end up chasing a moving bus. @vvs i think its a good time to buy the assets of this Co. I will continue to buy pole pole pole, watching the price movement. Recovery in 2010 is a certainty not a probability.
Life is short. Live passionately.
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mukiha
#14 Posted : Tuesday, April 13, 2010 6:27:06 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
CORRECTION: the eps is NEGATIVE sh0.22!!!

Does anyone remember what the Q3 figure was? The one available at NSE is for 2008!

And how does a PBT of +700m become a PAT of only +35m and eventually a -0.22 eps???

Now I'm dying to see the full results!

The last time this sort of thing happened was in the early 1990s to SCBK: the announced a half-year PBT of 900m and then a fully year PBT of 600m. The CEO was shown the door immediately. Perhaps the same fate should visit CFC's Group CEO. Who is it by the way?

DuToit heads the bank, but is he also the Group CEO?
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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mukiha
#15 Posted : Tuesday, April 13, 2010 6:50:27 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
the deal wrote:
ofcourse the results were 2009...hehehe wats the new p/e at an eps of 0.22...


New P/E is -195

Not bad if you think about what it means: If you buy the stock today at sh43 and everything remains the same, it will take 195 years for the losses to completely eat away your investment...
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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the deal
#16 Posted : Tuesday, April 13, 2010 7:00:22 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha asante...i'm getting in...i think cfc should ship du toit back to southern africa...i think he will do better there...then hire a competent kenyan c.e.o...
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guru267
#17 Posted : Tuesday, April 13, 2010 7:16:25 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
i think this company is a good one to enter into but i might have to wait until the panic sellers and speculators drive its price down a bit more...

one thing one has to know about CFC is that it is very dependent on the fortunes and turnover at the NSE which have been tremendous in the first quarter...
Mark 12:29
Deuteronomy 4:16
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mukiha
#18 Posted : Tuesday, April 13, 2010 7:19:29 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
@the Deal; I've just found out that as of Dec 2008, Mr. K Mbathi was the group CEO. du Toit is an ordinary director and CEO of the bank.

This group is too convoluted! I thought I understood it, but I'm not so sure now. Check out it's website and you'll see what I mean.

I look forward to the day it concludes the de-convolution. It should actually split into three entities: a commercial bank, an investment bank and an insurance company.
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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the deal
#19 Posted : Tuesday, April 13, 2010 7:40:52 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ mukiha what of liberty life south africa(also owned by standard bank sa) taking a controlling and strategic stake in the insurance business and then the listing of it as a separate entity on the nse...how far have they gone with that?
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Wa_ithaka
#20 Posted : Tuesday, April 13, 2010 8:34:25 AM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Financial mergers rarely work out
The Governor of Nyeri - 2017
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