Discussions on with IFC which may buy into I&M Bank (& possibly provide Bond Financing) like they did with DTB. This may obviate the need for a Rights Issue similar to what Equity Bank did with Helios.
http://www.equities.com/...nk-stake-business.story

2012 Ratios allow a lot of headroom for expansion without the need for additional Capital in 2013. The narrowest is the Total Capital/Total Risk Weighted Assets ratio of 17.34% vs 12% required. That means I&M (Kenya) can expand the assets by 30% without breaching the level. Furthermore, PAT (less dividend payout) for 1H will be added to the Capital allowing a further cushion. The 2012 proposed dividend is (using my calculations) equivalent to less than 1Q 2013 PAT leaving 2Q 2013 PAT to be added back to calculate Capital Ratios.

BCR & I&M (Tz) are well-capitalized i.e. allows for expansion without need for a capital injection in 2013. Mauritius is growing rapidly at 30% per annum but it is a small(er) operation vs Kenya & can be funded by I&M Bank (Kenya) the parent OR the Holding Company [once it is approved]. Mauritius may buy another regional bank.

2014 is a different story if I&M maintains this growth & expands regionally into Uganda or South Sudan.

Back on track. CBK has approved CTL's application to become a Bank Holding Company while 100% of I&M's shareholders approved the Reverse Takeover. Done deal. CMA will probably have no objections.

Listing on 25 June since there is no need for CTL to do a compulsory acquisition if they had more than 90% but less than 100%.

And now we wait for the 1Q 2013 results for I&M Bank. And I&M's subsidiary (BCR) may do an IPO on the Rwanda Stock Exchange too.

#MakingMoney2013&Beyond

#MakingMoney2013$Beyond

What are your praying @chiaroscuro. ... notice I&M is currently a great bank and also a great company

It's going down...

To all our valued customers

It gives me great pleasure to inform you about some very positive developments in respect of I&M Bank. For a long time now, it has been the Bank’s intention to have its shares listed on the Nairobi Stock Exchange (“NSE”). I am very happy to advise that this strategic intent shall soon be fulfilled in the next few weeks, when the Bank concludes its reverse take-over of City Trust Limited (“CTL”), an entity listed on the NSE.
By way of background, CTL is an investment holding company listed on the Alternative Investment Market Segment of the NSE, whose main investment in the last few years has been in the Bank, with a 7.28% shareholding. On conclusion of the transaction, all the current shareholders of the Bank will hold shares in CTL. Simultaneously CTL will change its name to I&M Holdings Limited and I&M Bank will become a wholly owned subsidiary of I&M Holdings Limited.
The transaction, effectively in the nature of a capital restructuring, will enable the Shareholders of the Bank to list and freely trade in their shares on the NSE. Additionally this structure will facilitate the creation of a Holding company structure which will in turn provide the I&M Banking Group to (i) further improve upon its risk management framework, and (ii) undertake other activities that would enable us to become your “one stop shop” for all your financial needs.
We wish to reassure that there will be no change in the management and staff of the Bank and that this transaction will not affect the day to day operations of the Bank, which will continue to function as usual. The Bank will retain its name and strategy for business and we will continue to serve you as we always have.
Further, we wish to assure all our customers that, the existing Principal Shareholders of the Bank shall continue to hold their shares in the Bank, and have no intention of exiting from the Bank in the foreseeable future. Likewise, the Bank will continue to be guided under the very able leadership of its current Chairman Mr. SBR Shah.
Having received all the necessary approvals, the new shares in I&M Holdings Limited are set to be listed on the Main Investment Market Segment of the Nairobi Securities Exchange (“NSE”), and shall commence trading from 25th June 2013.
On behalf of the Board and Management Team of the Bank, I wish to express our sincere appreciation and gratitude for your sustained patronage of the Bank and we are looking forward to your continued support for the I&M Bank Group.


Arun S Mathur
Chief Executive Officer

Amen

The Final Countdown

http://www.youtube.com/watch?v=9jK-NcRmVcw

Will be interesting to see this counter launch on June 25 with the sell mood still on. Will the price vault or dip?

....http://www.businessweek.com/news/2013-06-14/i-and-m-bank-of-kenya-plans-fundraising-for-regional-expansion-1