Thuruari-Munyiri kalisema its postponed until next year or when the markets improve. He doesn't want do an IPO when he has just announced lower Q3 profit and he knows he won't sell at Ksh30. He also said they'll do rights issue and may sell more shares. Please check in yesterday's Business Daily.

"The bank is inefficient as demonstrated by a expense ratio of 84% other mid-tier banks such as NIC Bank boost a expense ratio of less than 50%

Going forward I expect the bank to struggle, if one looks where the yield curve is, since the bank derives more than 60% of its income from loans and advance the bank is sensitive to any increase in interest rates, as we speak the market is faced with a severe liquidity crunch, inter banking lending rate is hovering above 20% while yields on T-bills and deposits have been on the surge I expect all this to reduce profit margins from lending while inflation which is above 15% is more likely to exaggerate the banks non-performing loan problems"On 30 August 2011

Link http://www.contrarianinv...rehensive-analysis.html

IPO suspended

I concur with 'the deal'. Whereas 'the deal' looks at figures I look at customer care. Customer is the most important person. Apparently, Family Bank hasn't understood this and is following in the footsteps of BBK in the 90's and we all know where that took BBK. I would advise you not to consider Family Bank shares until after 2014. It is likely that this bank may not just struggle but be in the doldrums for quite a while.

It would have made no difference to Family Bank's shareholders if the Listing was by Introduction...

I think Family Bank should List by Introduction then do a Rights Issue in 2014.

http://www.businessdaily...8/-/ulmdsj/-/index.html
Everything seems not to be working for one Munyiri.Change of plans throughout