I know this company very well indeed and is the one that i have followed more than any other. I very much like the solid exec team that they have in place and their overly prudent nature. This is what has made STAN an out and out winner of the credit crunch.
They have never taken excessive risks, always focusing on long term relationships and gains to ensure that they deliver sustainable shareholder value. (I promise i did not extract that from annual report blurb). The fact that they also pre-dominantly focus on emerging markets is also a large bonus and allowed them to escape unscathed from the current crisis
So this is why the new share issue of £1 billion today has got me so excited. They have just reported fantastic results (H1, 5% increase in profits) and are now looking to expand during the ongoing crisis. This is a very bold and slightly more risky move in my view for such a conservative bank. However they have a proven track record and Peter Sands (CEO) is a young and very intelligent character with the ability and drive to take STAN to the next level... After the announcement, the share price has fallen over 8% to reflect the share dilution - a great entry point with my near term target testing the recent highs of £18.00.
One to watch!
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