@Stockmaster is the master of entry's n exits...never question this guy when he exits a counter...

ACTIVITY 15: PURCHASE OF 2200 DTB SHARES AT KSH 119 PER SHARE.
DATE:14TH OCT. 2010

COST OF TRANSACTION:KSH 261,800
ADD 2% TRANSACTION COST: KSH 5200
TOTAL COST OF TRANSACTION:KSH 267,000

SUMMARY OF PORTFOLIO AFTER ACTIVITY 15:
4200 DTB SHARES
2111 SCBK SHARES
CASH IN HAND:KSH 5645

Supply of the DTBK shares today picked up and hence was able to pick up some more. As earlier stated, the bank should easily post 100% growth for the Q3 2010 compared to last years' Q3.

Happy hunting.

@ Stocksmaster, Wao!! seems we are holding DTB together!!!

Kudos. The only difference between my porfolion and yours is that instead of SCB I have Equity. I see banks being the king this year. I will keep whatever I have till Mar next year when full year results are out.

@Stockmaster. I am glad to see you have picked up DTB. I hold some in my long-term portfolio which I bought prior to their last rights issue.

So far I would say DTB has been a dissapointment in terms of share price growth relative to other counters that I have held during the same period.

This has not been to do with the performance of the bank which has been stellar. Somehow, NSE players have never really taken a liking for the counter.

As a matter of fact, I was thinking of exiting the counter. I hold too many banks in any case.

I was going to put in all proceeds from DTB into Jubilee until first half results came through with over 100% profit growth. For the moment I continue to hold it, but I will be surprised if the 100% profit growth is repeated in Q3. Please note that most of the increase in H1 came from bond trading.

As far as I am concerned Jubilee is the real gem. They have a stake in all the others and in a lot more.

true dat

Stockmaster, with your stock picking skills, you should have picked a couple of stocks. Since you are in the banking sector now, I would have picked half CFC half DTB. Both will give good returns in say 3 months, but I will bet on CFC for higher returns.

@PKoli. What is your rationale for preferring CFC over DTB? DTB seems to have better fundamentals or are you basing it on observed market behaviour? Ama it is the listing of CFC Ins Holdings?

Pkoli. Even if the deal has not come through, it appears that you are already enjoying stuff from your own cache. Read your post above again - the whole is much less than the sum of the parts. 240 against 160!!!

I have my reservations about CFC Stanbic. The bank made Kshs 725,270,000 PAT in H1. Total H1 for the Group was Kshs 677,962,000 PAT. This equates to EPS of 2.65 and 2.48 respectively. Insurance, Financial Services and/or the overheads at CFC Stanbic Holdings apparently ate into some of the bank's profits. I raised this in a posting but I never got a satisfactory answer why and/or how come.

With the above figures, I say that CFC needs to grow its earnings by a big margin to get to the pricing level you have indicated i.e. 160. We know that Standard Bank bought into CFC Group at between 100-120. But it was at the height of the bull market and in retrospect it looks like they were shafted.

Contrast this with DTB. H1 2010 PAT stood at Kshs 1,160,851,000. EPS of Kshs 7.12. Remember DTB is all over East Africa as well and growing its footprint day by day.

On this one, I think you have it wrong unless you are reckoning that folks will want to speculate more on CFC Stanbic. On fundamentals, DTB is far superior.

Now let me go get myself something akin to the deal's Windhoek.

@ vvs,

You are very right about the high staff turnover in the new outfit. I interact with them both as a customer and through my employer. As far as Iam concerned at a personal level, I will keep them. However from my employer perspective, we have lost track of the different account relationship managers we keep being assigned to after the previous ones left.

And like you can guess the relationship is no longer as cusomized as it used to be with the good old CFC.