December 2, 2020/Proshare by FBNQuest Research Material increase to price target due to risk-free rate reduction Access Bank’s Q3 ’20 PBT beat our forecast soundly due to positive surprises on both revenue lines. Funding income benefitted from lower funding costs, driven by a sharp reduction in interest on customer deposits […]
Results & Dividends
GTBank Q3 2020 Results Review: Restructuring into Holdco to Drive Growth
December 1, 2020/Proshare by FBNQuest Research 3% cut to our 2020-21E EPS forecasts GTBank’s (GTB) Q3’20 results were in-line. As such, the mid- single-digit PBT growth delivered by the bank underscores its intent to restructure into a holding company (Holdco), flexible enough to allow it pursue opportunities in other fast-growing […]
Zenith Bank Q3 2020: Stable Earnings despite jump in Credit Losses.
November 30, 2020/InvestmentOne Report · Net interest income of N67.77billion, down 10.72%q/q , 6.02%y/y · Non-interest income of 57.00billion, down 18.39%q/q, up 21.21%y/y. · Profit before tax of N63.16billion, up 14.14%q/q, down 2.09% y/y. · Profit after tax of N55.49billion, up 4.11%q/q, down 10.27%y/y.. Lower OPEX and Credit losses […]
