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 […]
Results & Dividends
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 […]
Zenith Bank PLC H1-20: Non-Funded Income Supports Earnings Expansion
September 3, 2020/Cordros Report ZENITHBANK released audited H1-20 numbers this afternoon, which showed that the bank recorded strong earnings growth over the corresponding period of the prior year. On the EPS of NGN3.30 (+16.6% vs. H1-19), the board has proposed an interim dividend of NGN0.30/s (H1-19: 0.30/s), which equates to […]
