April 23, 2025/CSL Research Financial Highlights: Interest Income: +36.1% y/y to N599.83BN Interest Expense: +77.0% y/y to N247.96N Cost of Risk: +5ps y/y to 0.6% Cost to Income Ratio: -489bps y/y to 52.9% Profit before Tax: +30.7% y/y to N204.27BN Stock Rating: BUY Target Price: N46.40/s To read the full […]

April 23, 2025/Cordros Report First HoldCo Plc (FIRSTHOLDCO) recently released their 2024FY audited financial statements, recording a 115.4% y/y increase in earnings per share to NGN18.31 (2023FY: NGN8.53). We attribute this to the broad-based growth across both core (+155.9% y/y) and non-core (+27.7% y/y) income lines. The board proposed a […]

April 23, 2025/Cordros Report United Bank for Africa Plc (UBA) published its Q1-25 interim financials today (April 23), recording a 35.1% y/y growth in EPS to NGN5.35 (Q1-24: NGN3.96). The expansion in the group’s earnings was underpinned by impressive growth across its core (+36.1% y/y) and non-core (+44.2% y/y) income […]