Results & Dividends

ACCESS BANK – Q1 2023: Decent numbers despite high funding costs

April 25, 2023/CSL Research Access Holding’s Q1 2023 unaudited numbers showed a 46.4% y/y growth in Interest Income driven by growth in both Interest Income on Net Loans and yields on investment securities. Net Loans declined marginally in Q1, down 1.2% in March compared with December 2022. Interest Expense also grew […]

UNILEVER NIGERIA PLC – Q1 2023: Improved top-line amidst curtailed OPEX growth

April 25, 2023/CSL Research Unilever Nigeria’s Q1 2023 showed a 19.7% y/y growth in Revenue to N24.6bn in Q1 2023 from N20.6bn in Q1 2022. The Food segment – Blue Band, Knorr and Royco, recorded strong growth, up 39.1% y/y to N13.3bn in Q1 2023 from N9.6bn in Q1 2022, […]

STANBIC IBTC Q1 2023: Strong growth in both Interest and Non-Interest Income

April 25, 2023/CSL Research Stanbic Q1 2023 unaudited numbers showed a 53%y/y increase in Interest Income to N50.4bn driven by improved yields on risk assets. Net Loans to customers declined marginally, down 0.6% in Q1 2023 from December 2022. Interest Expense also grew strongly, up 47% y/y to N14.0bn. Customers […]