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.

Got my lot at 54 this morning.

zzzzzzzzzzzzzzzzzzz

Some one please wake me up when it touches 82

zzzzzzzzzzzzzzzzzzzz

@kyt

The current price for CFC is equivalent to the price it should have been a month post recovery. Remember when most of the financials eg KCB reached 15, the demand immediately rose it to 20s. Same with BBB from 40 to 50, DTB from 50 to 70s. CFC never recovered. It should be trading currently in 70s and with results coming in after the first quarter we should have seen it go to 80s.

So it is still a bargain in 50s. Catch more before it reaches 100

Why buy a bank that has little capital, this can't be ignored. It's potential to grow is hindered, isn't that why I assume pipo are rushing out KCB. How can CFC grow balance sheet with low capital ratios of 8.8%. In what way is CFC better than KCB?

Their PBV is 0.8x, I think, so it appears discounted, but strip out its goodwill and you'll see KCB and DTBK provide better value on tangible PBV. DTBK profits up 28% today.

l'm getting richer by the minute @ this rate...i'm the next warren buffet...cfcstanbic the ride has been sweet...scan has a huge goodwill number on its P/B...

Opened at 60.50, then eased to 60. Not bad.... z z z z z z z z z z