@Mukiha dont go into CMC now wait until they announce their results in Jan 2011 then go in...thats what i'm planning to do...hehehe Unga is gone Mzee...on Monday we might see 14.50 bob...

By then the momemntum trading occassioned by the bull run will have made CMC expensive. You cannot wait for January!

Like ARM at current prices, 170! That is too expenive.

Based on the half year results for CFC Bank, Not group you can estimate the forward p/e, assuming things dont happen like last year. The insurance and other sectors of the group should return to profitability this year. That is why I am still bullish on CFC at current prices

CFC targets retail segment to grow its loan book. I think these guys are going to find that a hard nut to crack. I mean, 19 branches is a pittance. What were they doing all this time? But I like their new ad on radio for their new account, where a woman asks 'Lakini si hiyo ni bank ya wadosi?' then another person replies 'Hapana...' Hehe. Ata CFC wanajua wao ni bank ya wadosi. www.businessdailyafrica....2/-/ynb4ywz/-/index.html

Historically in kenya, no.
Look at Citibank, they have had only 2 branches (Nbi&Msa) yet they are ranked a top tier 1 bank in kenya (and also on many other parameters) & against the backdrop of a good number of the other 40-odd banks having many more branches. Even DTB just started expansion barely 3 years ago despite >50-yrs of existence but has always posted profits (maybe except 1997)!
ditto CBA, who were able to get very very heavy accounts (US Embassy, USAID,Western embassies, NGOs,etc all of which were impt as they use nbi as the hub to serve the great lakes region & millions of USD pass thru them).
Huge branch network enables you to source for cheap deposits as you cover a wider geographical area. But it appears the most impt is the how heavy the pockets of your customers are/calibre of the customers who open accounts with the bank - unless you are volume-driven like Equity.