May 11, 2020/InvestmentOne Report          Net interest income of N60.25billion, down 23.51%q/q , down 15.92%y/y ·         Non-interest income of N54.78billion, down 18.47%q/q, up 83.15%y/y. ·         Profit before tax of N28.68billion, up 5.85%q/q, up 61.45% y/y. ·         Profit after tax of N23.14billion, down 9.27%y/y, up 59.33%y/y.  Lower Impairment Supports q/q performance […]

Culled—Proshare May 8, 2020 FBNQuest Research 7% reduction to our price target We keep our Outperform rating on Zenith Bank (Zenith), but make a -7% downward adjustment to our price target to N44.6, implying a potential upside of 193% from current levels. In contrast to the cut to our price […]

Culled—Proshare May 7, 2020 by FBNQuest Research Mild changes to earnings outlook over the 2020-21E period We have made slight downward adjustments to our EPS forecast over the 2020-21 period. Although Okomu Oil (Okomu) has started the year strongly, with earnings of N2.0bn, up +101% y/y, we forecast a milder […]