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CFC Stanbic-to be trusted for long-term deposit?
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siafu33
#1 Posted : Saturday, March 03, 2012 2:54:03 PM
Rank: New-farer


Joined: 3/19/2011
Posts: 19
Location: Nairobi
Afternoon Wazuans,

Am searching for good FDRs from the 'major' banks for a sizeable deposit.

The best I got was 11% (1 month) 13% (2 month) and 14% (3month), all from CFC Stanbic.

These beat BBK, Chase, etc with some ease.

So, to my question - I am a little concerned lest there be info on CFC Stanbic I should be taking into consideration, for example, with the rights issue/recent de-merger (CFC Insurance Holdings?) can CFC be trusted to hold my money for 3-6 months without alarms?

Is it a sound financial entity?

Thanking you all, as always for advice.

S
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guru267
#2 Posted : Saturday, March 03, 2012 3:03:33 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
siafu33 wrote:
can CFC be trusted to hold my money for 3-6 months without alarms?

Is it a sound financial entity?


First of all 6months has never been long term..

Secondly the rights issue and demerger have strengthened and will strengthen the company...

Thirdly it is Kenyas 4th largest firm by assets..

Lastly the bank will be here even when your grandchildren are in their graves..
Mark 12:29
Deuteronomy 4:16
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guru267
#3 Posted : Saturday, March 03, 2012 3:05:08 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
siafu33 wrote:
can CFC be trusted to hold my money for 3-6 months without alarms?

Is it a sound financial entity?


First of all 6months has never been long term..

Secondly the rights issue and demerger have strengthened and will strengthen the company...

Thirdly it is Kenyas 4th largest bank by assets..

Lastly the bank will be here even when your grandchildren are in their graves..
Mark 12:29
Deuteronomy 4:16
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Impunity
#4 Posted : Saturday, March 03, 2012 7:36:23 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,328
Location: Masada
siafu33 wrote:
Afternoon Wazuans,

Am searching for good FDRs from the 'major' banks for a sizeable deposit.

The best I got was 11% (1 month) 13% (2 month) and 14% (3month), all from CFC Stanbic.

These beat BBK, Chase, etc with some ease.

So, to my question - I am a little concerned lest there be info on CFC Stanbic I should be taking into consideration, for example, with the rights issue/recent de-merger (CFC Insurance Holdings?) can CFC be trusted to hold my money for 3-6 months without alarms?

Is it a sound financial entity?

Thanking you all, as always for advice.

S


Stanchart will give you 17% for anything above 1 millie and you have to hold for at least 12 months.

CBK will give 19% for 3 months.

Goodluck!
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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siafu33
#5 Posted : Monday, March 05, 2012 5:59:07 PM
Rank: New-farer


Joined: 3/19/2011
Posts: 19
Location: Nairobi
guru267 wrote:
siafu33 wrote:
can CFC be trusted to hold my money for 3-6 months without alarms?

Is it a sound financial entity?


First of all 6months has never been long term..

Secondly the rights issue and demerger have strengthened and will strengthen the company...

Thirdly it is Kenyas 4th largest bank by assets..

Lastly the bank will be here even when your grandchildren are in their graves..



Thank you very much, guru267...appreciated.
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