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Family Bank listing by introduction soon!
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Cde Monomotapa
#21 Posted : Wednesday, July 13, 2011 12:24:54 PM
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Joined: 1/13/2011
Posts: 5,964
mwanahisa wrote:
Cde Monomotapa wrote:
Let it come so we can shark it to 12 bob like Uchumi.

Don't be too hard on this share. It is not that bad...

Neither is (new) Uchumi. Thanx sellers smile
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Cde Monomotapa
#22 Posted : Wednesday, July 13, 2011 12:43:05 PM
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Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...
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Cde Monomotapa
#23 Posted : Wednesday, July 13, 2011 12:45:14 PM
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Joined: 1/13/2011
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Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.
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Mainat
#24 Posted : Wednesday, July 13, 2011 12:45:20 PM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
Mpenzi wrote:
Mainat wrote:
Interesting...

Timing again is questionable.

Hunderwear-its an advert in the Daily Nation.
Btw, an introduction is cheaper to do than an IPO and can get you gains if well priced.



I just dont understand the so-called investors in Wazua. What is the "unquestionable" time for listing on the exchange???? And particularly in the case of a listing by way of introduction - there is a presumption that whoever will buy has an idea of what the exchange is all about!


Mpenzi-hope you woke up feeling well and your day is going well.
Its just a discussion. I'm a so-called investor and obviously I would hope I know a little bit about the NSE. Do you?
In doing an IPO, the practice the world over is to list when the market's mood is either bouyant or foolishly bullish
Sehemu ndio nyumba
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selah
#25 Posted : Wednesday, July 13, 2011 12:47:21 PM
Rank: Elder


Joined: 10/13/2009
Posts: 1,950
Location: in kenya
@Mwanahisa is right this banks performance is lousy take 2010 for instance.

ROE=16.01% majority of other banks had an ROE of over 20%

ROA = 2.48% which is the lowest among its peers.

The bank controls 6.54% of the countries total deposits accounts and 4.7% of the total loan accounts.

In terms of past performance the banks has been performing poorly but it has a potential to outperform the industry's bigwigs if it gets a good management and adequate capitalization.

'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Genghis Khan
#26 Posted : Wednesday, July 13, 2011 3:13:26 PM
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Joined: 8/5/2010
Posts: 335
Location: Nairobi
mwanahisa wrote:
Lek wrote:
OTC price is now @ 26-27


I love the way guys are suckered into buying high priced shares on the OTC expecting an Equity like performance upon listing without first comparing with shares that are already listed.

Family Bank's 2010 EPS and DPS were Kshs 1.62 and 0.40 respectively with NBV at Kshs 12.92.

At the price of 27 you can therefore see the share is expensive with a PE of 16.7 and a Dividend yield of 1.5%. The PBV is about average at 2.09.

Now tell me where is the upside UNLESS you can show me the GROWTH.

If TKMuya is giving away 1% of the bank worh maybe 40m, what has the MD promised in return?
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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kenyainvestor
#27 Posted : Wednesday, July 13, 2011 6:56:35 PM
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mwanahisa wrote:


Now tell me where is the upside UNLESS you can show me the GROWTH.


FUNKY wrote:
@ mwanahisa - You can't compare Family Bank with huge banks like CO-OP and Equity. These banks will always be ahead of Family bank. Also note Family bank is not regional even so PAT will obviously differ. let's hope the new CEO become's the JAMES MWANGI of Family Bank.


This bank grew faster than Bank of Kigali last yer. See the very end of my Bank of Kigali Analysis

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Horton
#28 Posted : Wednesday, July 13, 2011 7:02:00 PM
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Joined: 8/30/2007
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Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...



Is that before or after uchumis tax credit? I think when uchumi starts paying taxes like every other company, eps should come down
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Cde Monomotapa
#29 Posted : Wednesday, July 13, 2011 7:02:57 PM
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Joined: 1/13/2011
Posts: 5,964
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.
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kyt
#30 Posted : Wednesday, July 13, 2011 11:29:42 PM
Rank: Elder


Joined: 11/7/2007
Posts: 2,182
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.


@cde why do you havr to quote yourself and write nothing #chenxtype
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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kyt
#31 Posted : Wednesday, July 13, 2011 11:32:09 PM
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Joined: 11/7/2007
Posts: 2,182
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.


@cde why do you have to quote yourself and write nothing #chenxtypeShame on you Shame on you Shame on you Shame on you Shame on you Shame on you
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Wa_ithaka
#32 Posted : Thursday, July 14, 2011 8:15:24 AM
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Joined: 1/7/2010
Posts: 1,279
Location: nbi
Genghis Khan wrote:
mwanahisa wrote:
Lek wrote:
OTC price is now @ 26-27


I love the way guys are suckered into buying high priced shares on the OTC expecting an Equity like performance upon listing without first comparing with shares that are already listed.

Family Bank's 2010 EPS and DPS were Kshs 1.62 and 0.40 respectively with NBV at Kshs 12.92.

At the price of 27 you can therefore see the share is expensive with a PE of 16.7 and a Dividend yield of 1.5%. The PBV is about average at 2.09.

Now tell me where is the upside UNLESS you can show me the GROWTH.

If TKMuya is giving away 1% of the bank worh maybe 40m, what has the MD promised in return?

I understand that this to compensate Munyiri for the discrepancy in his erm... remuneration i.e. he had to take a paycut due to the strict peanut pay policy at Kiondo's bank.
The Governor of Nyeri - 2017
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FUNKY
#33 Posted : Thursday, July 14, 2011 8:44:54 AM
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FUNKY
#34 Posted : Thursday, July 14, 2011 8:54:58 AM
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http://www.businessdaily...0/-/s4rjuo/-/index.html

Guys in these article it is written that the CEO is going to buy the one percent shares @ 22/- which is a discounted price from the current trading price of 30/-.
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erifloss
#35 Posted : Thursday, July 14, 2011 9:20:41 AM
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Joined: 6/21/2010
Posts: 514
Location: Nairobi
kyt wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.


@cde why do you have to quote yourself and write nothing #chenxtypeShame on you Shame on you Shame on you Shame on you Shame on you Shame on you

Is there anything past elder? Coz i think that's what he wants to become!
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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tony stark
#36 Posted : Thursday, July 14, 2011 9:32:35 AM
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Joined: 7/8/2008
Posts: 947
I will only believe the listing once i see a announcement from CMA or Family bank showing an approval from CMA. I bought the initial shares with the hope of them listing by the end of that year and that was 5 years ago. They have a list of excuses and this is not the first time they have called an AGM with listing being on the agenda!
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jerry
#37 Posted : Thursday, July 14, 2011 9:59:11 AM
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Joined: 9/29/2006
Posts: 2,570
tony stark wrote:
I will only believe the listing once i see a announcement from CMA or Family bank showing an approval from CMA. I bought the initial shares with the hope of them listing by the end of that year and that was 5 years ago. They have a list of excuses and this is not the first time they have called an AGM with listing being on the agenda!


=>The main purpose of the eAGM is to endorse the appointment of the MD and to approve his share allocation. The rest not so urgent. My opinion.
The opposite of courage is not cowardice, it's conformity.
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Genghis Khan
#38 Posted : Thursday, July 14, 2011 10:14:43 AM
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Posts: 335
Location: Nairobi
FUNKY wrote:
http://www.businessdailyafrica.com/Corporate+News/-/539550/1200690/-/s4rjuo/-/index.html

Guys in these article it is written that the CEO is going to buy the one percent shares @ 22/- which is a discounted price from the current trading price of 30/-.

So that's where he's taking his retirement money. 50m before... 70m after! Not too shabby.
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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mukiha
#39 Posted : Thursday, July 14, 2011 10:16:20 AM
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Joined: 6/27/2008
Posts: 4,114
mwanahisa wrote:
In my view Family Bank's performance over the last 5 years has been lousy.

Look at this statistics:

For 2006 PAT for these 3 banks were as follows:

Family Bank - Kshs 184 million
Cooperative - Kshs 887 million
Equity Bank - Kshs 753 million

Fast forward to 2011

Family Bank - Kshs 391 million
Cooperative - Kshs 4,581 million
Equity Bank - Kshs 7,131 million

Until I see a serious change change in their strategy, I would be wary of this bank which which has just doubled profits over the last 5 years when others have quintupled (CoopBank) or increased by a factor of 10+ (in the case of Equity).


FUNKY wrote:
@ mwanahisa - You can't compare Family Bank with huge banks like CO-OP and Equity. These banks will always be ahead of Family bank. Also note Family bank is not regional even so PAT will obviously differ. let's hope the new CEO become's the JAMES MWANGI of Family Bank.


@FUNKY; the comparison is very OK!

What you now need to do is check how the three have grown their profits in that period:

Family = 2.1 times [average anualised growth rate =16%]

Co-Op = 5.2 times [average anualised growth rate =39%]

Equity = 9.5 times [average anualised growth rate =56%]

Clearly, Family has not kept up with the others... perhaps we should also add KCB to the list...
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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Genghis Khan
#40 Posted : Thursday, July 14, 2011 10:17:19 AM
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Joined: 8/5/2010
Posts: 335
Location: Nairobi
erifloss wrote:
kyt wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Cde Monomotapa wrote:
Did U know that Uchumi makes closely as much profits as Scan and that it has less shares, 265M, 280M respectively yet Uchumi has a mkt cap.of 2.8B and Scan 15B? Tafakari...

And this is less those bloody tax credits.


@cde why do you have to quote yourself and write nothing #chenxtypeShame on you Shame on you Shame on you Shame on you Shame on you Shame on you

Is there anything past elder? Coz i think that's what he wants to become!

Laughing out loudly Laughing out loudly Laughing out loudly
He wants to be Administrator!
If I was @wazua I'd panick and reset him to zero... Hello!
"I'd rather be lucky than clever... every time!" - ME
"The problem is not what we don't know... it's what we know for sure that just ain't!" - MARK TWAIN
"Space we can recover... time never!" - NAPOLEON BONAPARTE
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