Tucked on page 25 in the Standard today.

Highlights in comparison to Q109:

1. Total Operating Income - UP by 44%;
2. Total Assets - UP by 33%;
3. Profit Before Tax - UP by 159%;
4. Profit after Tax - UP by by 151%.

If we make the assumption that the BANK is able to replicate this performance in the other quarters and OTHER subsidiaries of the GROUP just BREAK EVEN, projected EPS for the group comes to Kshs 8.24.

At the current trading price of Kshs 54.50 this is a PE ratio of 6.62. I think it is definitely worth another look.

The normal P/E floats around 15....... IOW: you could see sh120+

Good results from CFC

Non performing loans have reduced from 1.58b to 0.68bn.

I wonder where the 543m for "other income" is from. It may well have led to the increase of 530m PBT. Revaluation perhaps?

Account holders with CFC should be worried.. Interest on customer deposits went down by 12%, while customer deposits went up by 13bn (24%). The average annualized interest on customer deposits looks to be 2.7% down from 3.9%. Shareholders should be very happy with that.

If they sustain these results through Q2, Mukiha will be a very happy man.

@Mukiha. Congrats man for your resillience. I almost panicked, but luckily I closed my fingures on Friday and added at 50.

I think by end of the week, we will see it in the 60s and should stabilize between 70-80 in the short term, so keep trying tomorrow to grap more else, there will huge demand tomorrow.

@Guru - The truth is that with the spinning of different business segments we expect true value to be unlocked. Challenges of the merger are being addressed. That is why Stanbic had to bring Kitili to Kenya.

Watch this space - we will be trading the stock at 100 bob soon.