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CFC completes integration
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ProverB
#21 Posted : Monday, March 22, 2010 9:29:46 AM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
mukiha wrote:
@proverB; in another thread [http://www.wazua.co.ke/forum.aspx?g=posts&t=5551&p=6] you say you have 500k to put into five counters - and that was just Friday. Now you say you don't have cash. Are you for real?


@mukiha..get my point..i don't understand cfc...thus..it is not a considered buy for me..my question to you is based on fact idon't have cash for something sielewi..
the 5 counters i'm getting in are based on what i confidently understand..going on cfc stanbic is thus based on your word..my choice..
i preferred Diamond trust in my group of 5..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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mukiha
#22 Posted : Monday, March 22, 2010 9:37:19 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@proverB; sorry about that. I got ahead of myself and didn't realise that you were responding to my comment about the money I have in CFC. After reading the previous posts in this thread, now I see what you meant.

Again: pole.
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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sparkly
#23 Posted : Tuesday, March 23, 2010 10:15:48 AM
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Joined: 9/23/2009
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Location: Enk are Nyirobi
CFC seems to be taking a beating, 40/- trade. whats going on?
Life is short. Live passionately.
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mukiha
#24 Posted : Friday, March 26, 2010 6:26:26 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
Now this is weird: they have issued a profit warning....less than a week before the deadline for releasing results! Surely, why not just release the results?
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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stock.enigma
#25 Posted : Friday, March 26, 2010 7:32:15 AM
Rank: Member


Joined: 8/14/2009
Posts: 244
CFC is releasing a profit warning when almost all banks have reported. what is happening to this bank. Was it a surprise? They should already have realized the profit level they expected by Nov. More than 25% dip !!!!! What was the prfit last year?
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guru267
#26 Posted : Friday, March 26, 2010 8:10:18 AM
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Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
@stock.enigma the market must be factoring in this profit warning... the share is currently down 11% from its 3month range bound trading price of 44-45bob
Mark 12:29
Deuteronomy 4:16
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Fundaah
#27 Posted : Friday, March 26, 2010 9:29:23 AM
Rank: Elder


Joined: 11/19/2008
Posts: 1,267
Insider trading rife in this stock.....
.... & NSE...how do you explain a massive price fall before the announcement of profit warning ?

Na kweli NSE inawenyewe
Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
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Surealligator
#28 Posted : Friday, March 26, 2010 9:40:49 AM
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Joined: 6/27/2008
Posts: 709
Location: Velayat-e Faryab
@All

Did I see my own things or CFC stanbic actually had their financial results posted in a local paper two weeks ago showing a profit decline? What is the profit warning for? Is it for next financial year or first quarter? Can somebody help me out on this? They are simply unhinged.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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mukiha
#29 Posted : Friday, March 26, 2010 9:44:05 AM
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@surealligator; those were CFC-Stanbic bank alone; not CFC-Stanbic Holdings which includes CFC Life, Heritage Ins and CFC Financial Services
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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VituVingiSana
#30 Posted : Friday, March 26, 2010 10:33:35 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
If the most profitable division (CFC-Stanbic Bank) has reduced profits, then the rest will contribute even further losses or reduced profits!

I am sure the old CFC shareholders (like me) wish Stanbic had never come into the picture!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Surealligator
#31 Posted : Friday, March 26, 2010 10:43:48 AM
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Location: Velayat-e Faryab
@Mukiha

Thanks men. That now makes sense. All in all, this South Africans seem doomed wherever they put up shop in Kenya.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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mukiha
#32 Posted : Friday, March 26, 2010 11:09:39 AM
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Posts: 4,114
VituVingiSana wrote:

....I am sure the old CFC shareholders (like me) wish Stanbic had never come into the picture!


Amen to that!

I hope they don't go the way of East African Magazines
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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VituVingiSana
#33 Posted : Friday, March 26, 2010 11:33:17 AM
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Joined: 1/3/2007
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@mukiha - Well, I hope we beat them in the IRB HongKong match for Pool F
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#34 Posted : Friday, March 26, 2010 12:05:25 PM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
I once made a kill on this CFC thing - when it changed from Credit Finance Corporation to CFC Bank. I believe it still has some magic and I will continue increasing my holding despite the short term dismal performance.
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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sparkly
#35 Posted : Sunday, March 28, 2010 6:40:34 PM
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Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
mukiha wrote:
VituVingiSana wrote:

....I am sure the old CFC shareholders (like me) wish Stanbic had never come into the picture!


Amen to that!

I hope they don't go the way of East African Magazines

The chief culprit must be cfc financial services, paying fat salaries to the management and financial analysts, terminal dues to the released staff, share of T24 costs amidst minimal revenue. They need to simplify that corporate structure fast otherwise you can't tell where the hits are coming from. For now i buy in pole pole watching how far the price can go.
Life is short. Live passionately.
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VituVingiSana
#36 Posted : Sunday, March 28, 2010 10:00:53 PM
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Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
sparkly wrote:
mukiha wrote:
VituVingiSana wrote:

....I am sure the old CFC shareholders (like me) wish Stanbic had never come into the picture!

Amen to that!
I hope they don't go the way of East African Magazines

The chief culprit must be cfc financial services, paying fat salaries to the management and financial analysts, terminal dues to the released staff, share of T24 costs amidst minimal revenue. They need to simplify that corporate structure fast otherwise you can't tell where the hits are coming from. For now i buy in pole pole watching how far the price can go.
Financial Services is a small piece of the CFC Stanbic puzzle. The stunted growth seems to be from the insurance firms... but we need to wait for the results. They have to release by 31 March 2010.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#37 Posted : Monday, March 29, 2010 5:16:02 AM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@ vvs well atleast the south africans managed to beat kenya twice in the irb sevens in hong kong that shows u r not yet st their level yet...yep i agree i think the problem is the insurance division no wonder they want to list it as a separate entity...
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VituVingiSana
#38 Posted : Monday, March 29, 2010 9:42:31 AM
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Joined: 1/3/2007
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@thedeal - On rugby sevens, I have to concede to the Springboks... They whacked us twice in as many days...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#39 Posted : Monday, March 29, 2010 10:08:05 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
CFC stanbic have issued a profit warning expecting a 25% decline in profits...
if this isnt old news then that cant be good for the share price!!! Sad

Mark 12:29
Deuteronomy 4:16
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the deal
#40 Posted : Monday, March 29, 2010 11:43:12 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
cfc financial services made a loss of approx 60% last year...i saw their results in the daily nation...
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