Culled—Proshare September 8, 2020 By FBNQuest Research 2% increase to our price target GT Bank’s Q2 2020 PAT surprised positively relative to our forecast. However, the surprise was due to a significant result on the other comprehensive income (OCI) line. Above the tax line, pre-tax earnings missed by high-single-digits because […]
Results & Dividends
Stanbic IBTC Q2 2020 Results Review: Solid Q2; on Track to Deliver >25% ROE in 2020
Culled—Proshare September 7, 2020 by FBNQuest Research Rolling over to 2021E; price target up 16% We keep our Outperform rating on Stanbic IBTC (Stanbic) with a 12M target price of N53.7 (up +16%), implying a potential upside of c.41% from current levels. The bank’s results came in ahead of […]
Access Bank PLC H1-20: Precipitous Quarterly Decline Earmarks Challenges
September 4, 2020/Cordros Report ACCESS released H1-20 earnings yesterday evening, which revealed that the bank recorded a marginal decline in profitability. On the EPS of NGN1.73 (-8.9% vs. H1-19), the bank’s board has proposed an interim dividend of NGN0.25/s (H1-19: 0.25/s), which equates to a yield of 3.9% based on […]
