November 20, 2024/Cordros Report MTNN’s numbers showed a return to profitability in Q3-24 standalone, highlighting the impact of the successful renegotiation of tower leases with IHS, which resulted in cost savings with a modest impact on EBITDA and earnings. Specifically, EBITDA margin though still weaker y/y, improved from the multi […]
Results & Dividends
Zenith Bank Plc 9M-24: Stellar Funded Income Growth to Support Performance
November 18, 2024/Cordros Report In this report, we review our estimates and update our views on Zenith Bank Plc (ZENITHBANK) for 2024E, following the release of the bank’s 9M-24 earnings. ZENITHBANK delivered impressive top- and bottom-line growth in the period propelled by increases across the bank’s funded and non-funded income […]
Guaranty Trust Holding Company Plc 9M-24: Operational Efficiency Spurs TP Upgrade
November 18, 2024/Cordros Report The financial performance of Guaranty Trust Holding Company Plc (GTCO) in 9M-24 was impressive, with the HoldCo’s earnings crossing NGN1.00 trillion mark. The performance was driven by the strong growth across the group’s core and non-core income lines, reflective of the high interest rate environment and […]
