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Family Bank shares
Hunderwear
#61 Posted : Wednesday, November 23, 2011 12:40:24 PM
Rank: Member


Joined: 4/14/2011
Posts: 639
hisah wrote:
Finally the IPO is postponed. No need to tempt a moody Mr Market who's currently courting a bear... Tranny & britank have been nasty victims of the strong grisly mood swing...

>postponed to when?any link?
Mainat
#62 Posted : Wednesday, November 23, 2011 1:41:58 PM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
Thuruari-Munyiri kalisema its postponed until next year or when the markets improve. He doesn't want do an IPO when he has just announced lower Q3 profit and he knows he won't sell at Ksh30. He also said they'll do rights issue and may sell more shares. Please check in yesterday's Business Daily.
Sehemu ndio nyumba
gathinga
#63 Posted : Wednesday, November 23, 2011 2:09:46 PM
Rank: Veteran


Joined: 11/30/2006
Posts: 635
Mainat wrote:
nyari wrote:
Mainat wrote:
nyari wrote:
Has anyone managed to get a hold of their financials Q3, I can't get thru to my link guy for a copy. and how are they?

Profit after tax was 26% lower compared to last year. Reason? Munyiri's salary smile


smile That's a drop! What went up, what went down. As in did expenses go up or income dropped?

Expense went up Ksh0.7bn against fairly flat income. Must be all those senior managers they've hired. And the ones they've fired.


Have these results been published
the deal
#64 Posted : Wednesday, November 23, 2011 2:48:52 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
"The bank is inefficient as demonstrated by a expense ratio of 84% other mid-tier banks such as NIC Bank boost a expense ratio of less than 50%

Going forward I expect the bank to struggle, if one looks where the yield curve is, since the bank derives more than 60% of its income from loans and advance the bank is sensitive to any increase in interest rates, as we speak the market is faced with a severe liquidity crunch, inter banking lending rate is hovering above 20% while yields on T-bills and deposits have been on the surge I expect all this to reduce profit margins from lending while inflation which is above 15% is more likely to exaggerate the banks non-performing loan problems"
On 30 August 2011

Link http://www.contrarianinv...rehensive-analysis.html

IPO suspended Applause Applause
kizee1
#65 Posted : Wednesday, November 23, 2011 3:23:09 PM
Rank: Member


Joined: 9/29/2010
Posts: 679
Location: nairobi
the deal wrote:
"The bank is inefficient as demonstrated by a expense ratio of 84% other mid-tier banks such as NIC Bank boost a expense ratio of less than 50%

Going forward I expect the bank to struggle, if one looks where the yield curve is, since the bank derives more than 60% of its income from loans and advance the bank is sensitive to any increase in interest rates, as we speak the market is faced with a severe liquidity crunch, inter banking lending rate is hovering above 20% while yields on T-bills and deposits have been on the surge I expect all this to reduce profit margins from lending while inflation which is above 15% is more likely to exaggerate the banks non-performing loan problems"
On 30 August 2011

Link http://www.contrarianinv...rehensive-analysis.html

IPO suspended Applause Applause



84%!? are u sure mate? thats crazy, makes stanbic and kcb look good
myfundi
#66 Posted : Wednesday, November 23, 2011 11:23:35 PM
Rank: Member


Joined: 7/18/2009
Posts: 21
I concur with 'the deal'. Whereas 'the deal' looks at figures I look at customer care. Customer is the most important person. Apparently, Family Bank hasn't understood this and is following in the footsteps of BBK in the 90's and we all know where that took BBK. I would advise you not to consider Family Bank shares until after 2014. It is likely that this bank may not just struggle but be in the doldrums for quite a while.
underweight
#67 Posted : Wednesday, November 23, 2011 11:45:14 PM
Rank: Member


Joined: 1/25/2009
Posts: 184
Location: For now El-Fashier - Darfur
Does this mean that the shareholders can still trade over the counter??? If not what options do the shareholder have in terms of trading in their shares????
"A bad decision made now is beta that a good one made later!!"
VituVingiSana
#68 Posted : Thursday, November 24, 2011 8:11:29 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,134
Location: Nairobi
It would have made no difference to Family Bank's shareholders if the Listing was by Introduction...

I think Family Bank should List by Introduction then do a Rights Issue in 2014.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Sober
#69 Posted : Thursday, November 24, 2011 9:11:18 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
@Vituvingi sana. Theyy were talking of ulocking the potential of the share. I support, post 2013 is better timing.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
Hunderwear
#70 Posted : Monday, November 28, 2011 7:37:57 PM
Rank: Member


Joined: 4/14/2011
Posts: 639
http://www.businessdaily...8/-/ulmdsj/-/index.html
Everything seems not to be working for one Munyiri.Change of plans throughout
erifloss
#71 Posted : Monday, November 28, 2011 8:02:02 PM
Rank: Member


Joined: 6/21/2010
Posts: 514
Location: Nairobi
Family bank is a no no and Munyiri might drive it down if he continues with his current trend:
1. He's brought a large corporate client large bank mentality with him. They've kind of basically centralized most of their services. Try getting a cash covered bank guarantee and you'll realize how its deeply frustrating!
2. Targets that the new guys have been given are crazy & as of now they've even began refinancing arrears & deliquent loan accounts from other banks in the name of growing the loan book!
Munyiri was not yet ripe for this kind of a position in a mid tier bank, says alot on why KCB did what it did!
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
Cde Monomotapa
#72 Posted : Monday, November 28, 2011 8:05:41 PM
Rank: Chief


Joined: 1/13/2011
Posts: 5,964
Laughing out loudly
jerry
#73 Posted : Monday, November 28, 2011 8:49:00 PM
Rank: Elder


Joined: 9/29/2006
Posts: 2,570
Mainat wrote:
Thuruari-Munyiri kalisema its postponed until next year or when the markets improve. He doesn't want do an IPO when he has just announced lower Q3 profit and he knows he won't sell at Ksh30. He also said they'll do rights issue and may sell more shares. Please check in yesterday's Business Daily.

If I was in his shoes I would start with issuing more shares. By so doing you get cash from 'us' non-shareholders. Rights issue cannot work since those already with shares have no idle cash to put-in. Most are waiting for IPO to unlock their wealth.
The opposite of courage is not cowardice, it's conformity.
mwekez@ji
#74 Posted : Wednesday, August 15, 2012 9:25:39 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Kidero buys stake worth Sh100m in Family Bank

http://www.businessdailyafrica....4/-/lm1i55z/-/index.html
mawinder
#75 Posted : Wednesday, August 15, 2012 9:38:49 AM
Rank: Elder


Joined: 4/30/2008
Posts: 6,029
a good sign.
Jamani
#76 Posted : Wednesday, August 15, 2012 10:50:15 AM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
Might be a case of someone trying to show muscle as he goes for the governor position....
mawinder
#77 Posted : Thursday, August 16, 2012 12:38:42 PM
Rank: Elder


Joined: 4/30/2008
Posts: 6,029
while at mumias he ensured labourers who harvest sugarcane are paid through family bank and given loans by the same bank.
Jamani
#78 Posted : Thursday, August 16, 2012 12:45:56 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
mawinder wrote:
while at mumias he ensured labourers who harvest sugarcane are paid through family bank and given loans by the same bank.


Talk of chapter 6......
alikujia
#79 Posted : Thursday, August 16, 2012 3:20:18 PM
Rank: Member


Joined: 5/27/2010
Posts: 324
Location: nrb
Jamani wrote:
mawinder wrote:
while at mumias he ensured labourers who harvest sugarcane are paid through family bank and given loans by the same bank.


Talk of chapter 6......

nooo. jamaneni, at this rate no one can pass chapter6. frankly speaking jamani, argue your case. i fail to connect.
Jamani
#80 Posted : Thursday, August 16, 2012 4:51:04 PM
Rank: Elder


Joined: 9/12/2006
Posts: 1,554
alikujia wrote:
Jamani wrote:
mawinder wrote:
while at mumias he ensured labourers who harvest sugarcane are paid through family bank and given loans by the same bank.


Talk of chapter 6......

nooo. jamaneni, at this rate no one can pass chapter6. frankly speaking jamani, argue your case. i fail to connect.


@Alikujia--Read what Mawinder has stated, if its a fact then look at it on vested interests as in Kidero as a top dog shareholder..... one can argue that the labourers were forced into this without choice of their own and Kidero was doing this to benefit his bank.....do you see the connection? .... the integrity line is very thin.... with this thing around as a leader even laughing loudly in public or gold digging ones nose could be an issue..
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