Trust the wisdom of the markets to trade banks at low p/e. After all it is leveraged capital that they trade on. Financial sector is too prone to shocks. It is not an idiot-proof sector either, takes one idiot and all that leveraged capital goes poof! Reason why they lend against collateral.

P/e of 10 is a high premium to pay for banks. Market has better opportunities for growth at much lower level of risk. You are better off buying bonds for the fixed income and looking for growth stocks in other sectors.

By the way apart from ATMs is there any innovation that has come out of banks? Mpesa ate their lunch, crypto adoption among the young generation will finish the lunch.

The Kenyan generation that believed in banking shares is now in retirement and cashing out. Gen X are the ones holding on to the illusion of value.

Anyway, businesses can survive for decades by selling an image of value rather than delivering the thing itself until disruption comes.

To each his own! Party on!