March 10, 2020/Coronation Report Access Bank reported audited FY 2019 results on Friday. Net Profits were reported at N97.5bn (US$270.8m), up 2.7% from the previous year. Net Interest Income (NII) was up 59.7% y/y. Access Bank proposes a total dividend of N0.65/s which (inclusive of an earlier interim dividend […]
Results & Dividends
GTBank Q4 2019 Results Review: >25% ROAE in View Despite Modest EPS Growth
Culled—Proshare March 10, 2020 by FBNQuest Research 10% increase to our 2020-21E EPS forecasts GT Bank’s (GTB) Q4 2019 PBT came in ahead of our forecast due to positive surprises in pre-provision profits and loan loss impairments. Consequently, we have increased our 2020-21E earnings forecasts by c.10% on average. Our […]
Stanbic IBTC Q4 2019 Results Review: Sell-off Overdone Taking a Long Term View
Culled—Proshare March 10, 2020 by FBNQuest Research 9% avg. increase to our 2020-21E EPS forecasts Despite visible macroeconomic headwinds for 2020E largely due to external factors, Stanbic IBTC’s (Stanbic) management has guided to a 2020E ROAE of 25-30%. Management sees strong AUM growth of 15-20% y/y, stable NIMs of between […]
