April 18, 2024/Cordros Update We update our views on WAPCO (BUY, TP: NGN48.24), DANGCEM (SELL, TP: NGN460.77) and BUACEMENT (SELL, TP: NGN60.84). For WAPCO, we revised our TP upwards by 8.5% to NGN48.24/s and maintain our “BUY” recommendation on the stock. The re-rating was driven by our expectation of improved sales in 2024E coupled with the […]

April 16, 2024/Futureview Research Highlights of Fidelity Bank Plc Earnings Report: In Fidelity Bank’s Full-Year 2023 Financial Results, published on April 15, 2024, a remarkable 65% increase in Gross Earnings to N555.83 billion was reported. This surge was propelled by a substantial 55% growth in interest income, coupled with a […]

April 16, 2024/CSL Research Fidelity Bank’s recently released its FY 2023 audited numbers showed significant y/y growth in Pre-tax profit, driven by significant growths in both Interest and Non-Interest Income. Interest Income grew 55.5% y/y, driven by expansion in earning assets and improved yields on assets. Net Loans to Customers […]