Wazua
»
Investor
»
Stocks
»
CFC Stanbic Bank's splendid Q1 2013
Rank: Elder Joined: 6/2/2008 Posts: 1,438
|
CFC Stanbic has continued with its excellent 2012 full year performance where its growth outpaced practically all its peers.
In Q1 2013, it has picked up from where it stopped in 2012.
Performance highlights for Q1 2013 are as follows:
1. PBT up 79.6%
2. PAT up 78%
3. Total Comprehensive income up, 1,647%
The EPS attributable to CFC Stanbic Holdings shareholders comes in at Kshs 2.56. This is after adjusting for the considerable dilution of an additional approximately 122 million new shares from the rights issue last year; a whopping 44% increase in the number of shares. If this performance is maintained, we are looking at an EPS of above Kshs 10 for the year.
This could well be the standout banking stock for this year on valuation basis.
@The deal, hisah and Stockmaster, I am with you on this counter, but I am looking at it as a medium term play unlike stockmaster.
Source: Pg 21, Daily Nation, May-21-2013.
|
|
|
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
|
What did i tell ya folks???
|
|
|
Rank: Veteran Joined: 4/30/2010 Posts: 1,635
|
This is what we should call excellent results!! Lets see the price today.
|
|
|
Rank: Member Joined: 4/25/2012 Posts: 110
|
FUNKY wrote:This is what we should call excellent results!! Lets see the price today. Excellent indeed!  There is nothing as dangerous as an Idea, when there is only one Idea
|
|
|
Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
|
Impressive indeed...let Africa show them
|
|
|
Rank: Veteran Joined: 6/17/2009 Posts: 1,619
|
mwanahisa wrote:CFC Stanbic has continued with its excellent 2012 full year performance where its growth outpaced practically all its peers.
In Q1 2013, it has picked up from where it stopped in 2012.
Performance highlights for Q1 2013 are as follows:
1. PBT up 79.6%
2. PAT up 78%
3. Total Comprehensive income up, 1,647%
The EPS attributable to CFC Stanbic Holdings shareholders comes in at Kshs 2.56. This is after adjusting for the considerable dilution of an additional approximately 122 million new shares from the rights issue last year; a whopping 44% increase in the number of shares. If this performance is maintained, we are looking at an EPS of above Kshs 10 for the year.
This could well be the standout banking stock for this year on valuation basis.
@The deal, hisah and Stockmaster, I am with you on this counter, but I am looking at it as a medium term play unlike stockmaster.
Source: Pg 21, Daily Nation, May-21-2013. I should have bought more,good numbers.
|
|
|
Rank: Elder Joined: 9/29/2006 Posts: 2,570
|
MoneyMonger wrote:FUNKY wrote:This is what we should call excellent results!! Lets see the price today. Excellent indeed! up 3.33% already. The opposite of courage is not cowardice, it's conformity.
|
|
|
Rank: Elder Joined: 7/21/2010 Posts: 6,183 Location: nairobi
|
I hope the insurance does the same,where iam heavily camping. "Don't let the fear of losing be greater than the excitement of winning."
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,126 Location: Nairobi
|
Hmmm, looks interesting but the Balance Sheet has shrunk. Considerably. Assets down by 4.5bn [3.5%] I find that odd when most other (large) banks were increasing their footprint. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 6/2/2008 Posts: 1,438
|
The bank appears to have shed off some "baggage" in the balance sheet i.e. Balances due to Banking institutions within the group stood at Kshs 24.3 B in Q1 2012 which have been whittled down to 1.7 B in 2013. Similarly, Deposits and Balances due to banking institutions abroad, have come down from 30.8 B to 7 B. The core business of the bank is actually stable with loans and advances going up slightly while deposits have come down a notch. VituVingiSana wrote:Hmmm, looks interesting but the Balance Sheet has shrunk. Considerably.
Assets down by 4.5bn [3.5%]
I find that odd when most other (large) banks were increasing their footprint.
|
|
|
Rank: Member Joined: 1/21/2013 Posts: 427
|
VituVingiSana wrote:Hmmm, looks interesting but the Balance Sheet has shrunk. Considerably.
Assets down by 4.5bn [3.5%]
I find that odd when most other (large) banks were increasing their footprint.
Excuse me for my ignorance am not an expert in financial matters but why are there so many variations between the December 2012 audited results in their FY2012 financial report and what they have on the newspaper article as the December 2012 numbers? For instance - Total assets as per the financial report 125b(143b-18b)vs 133b on the newspaper article?
|
|
|
Rank: Chief Joined: 8/4/2010 Posts: 8,977
|
the deal wrote:What did i tell ya folks??? Shhh... This is a private party  Don't attract attention. Wacha tukule kwanza...$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
|
|
|
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
|
Splendid...q/q the loan book is growing...customer deposits are growing...the quality of our loan book should be among the best in the industry Gross NPL/Advances at 2.1%....impressive growth in NIR...Q2 expect more NIR since the CIB division won advisory mandates for the Rwanda Eurobond...this thing is undervalued folks.
|
|
|
Rank: Elder Joined: 6/2/2008 Posts: 1,438
|
You are probably looking at the Annual Report for CFC Stanbic Holdings while this thread is about CFC Stanbic Bank Ltd. CFC Stanbic Holdings owns the bank as well as CFC Financial Services. I think other items such as goodwill on purchase of CFC Bank by CFC Stanbic Holdings are captured in the books of the Holding company and not in the bank's accounts. NOTE: CFC Stanbic Bank is NOT the listed entity. timuka wrote:VituVingiSana wrote:Hmmm, looks interesting but the Balance Sheet has shrunk. Considerably.
Assets down by 4.5bn [3.5%]
I find that odd when most other (large) banks were increasing their footprint.
Excuse me for my ignorance am not an expert in financial matters but why are there so many variations between the December 2012 audited results in their FY2012 financial report and what they have on the newspaper article as the December 2012 numbers? For instance - Total assets as per the financial report 125b(143b-18b)vs 133b on the newspaper article?
|
|
|
Rank: Member Joined: 1/21/2013 Posts: 427
|
mwanahisa wrote:You are probably looking at the Annual Report for CFC Stanbic Holdings while this thread is about CFC Stanbic Bank Ltd. CFC Stanbic Holdings owns the bank as well as CFC Financial Services. I think other items such as goodwill on purchase of CFC Bank by CFC Stanbic Holdings are captured in the books of the Holding company and not in the bank's accounts. NOTE: CFC Stanbic Bank is NOT the listed entity. timuka wrote:VituVingiSana wrote:Hmmm, looks interesting but the Balance Sheet has shrunk. Considerably.
Assets down by 4.5bn [3.5%]
I find that odd when most other (large) banks were increasing their footprint.
Excuse me for my ignorance am not an expert in financial matters but why are there so many variations between the December 2012 audited results in their FY2012 financial report and what they have on the newspaper article as the December 2012 numbers? For instance - Total assets as per the financial report 125b(143b-18b)vs 133b on the newspaper article? Thanks mwanahisa - i was looking at the wrong report
|
|
|
Rank: Member Joined: 9/26/2006 Posts: 410 Location: CENTRAL PROVINCE
|
the deal wrote:Splendid...q/q the loan book is growing...customer deposits are growing...the quality of our loan book should be among the best in the industry Gross NPL/Advances at 2.1%....impressive growth in NIR...Q2 expect more NIR since the CIB division won advisory mandates for the Rwanda Eurobond...this thing is undervalued folks. I just changed my intention for this stock from a speculative play to a Buy. This is the stock to watch for this year especially if this trend is maintained for the other three quarters of the year......an EPS of about Ksh 11 even at a P/E of 8 is Ksh 88.... Happy hunting
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,126 Location: Nairobi
|
Where does one get the (e-copy) Annual Report for CFC Holdings? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Chief Joined: 5/31/2011 Posts: 5,121
|
VituVingiSana wrote:Where does one get the (e-copy) Annual Report for CFC Holdings? http://www.cfcstanbicbank.co.ke...tatements20122604203.pdf
|
|
|
Rank: Elder Joined: 7/11/2010 Posts: 5,040
|
My buy trigger button was at the ready when it touched sub 60 last week, but no conviction then to buy, but now.... food for thought The investor's chief problem - and even his worst enemy - is likely to be himself
|
|
|
Wazua
»
Investor
»
Stocks
»
CFC Stanbic Bank's splendid Q1 2013
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|