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 […]
Results & Dividends
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 […]
Access Bank Plc FY’19 Audited Result – FX Losses Stills Earnings Momentum
Culled—Proshare March 9, 2020 By CardinalStone Research Access Bank Plc (ACCESS: TP 11.17 – HOLD) reported a modest 2.7% YoY growth in earnings in its audited FY’19 result that was supported by stronger net interest income (+59.7% YoY). On a quarterly basis, earnings (-75.7% QoQ) was dragged lower by a […]
