May 8, 2025/Cordros Report ZENITHBANK’s Q1-25 results aligned with our expectations. The bank recorded a 20.7% y/y growth in profit after tax as the strong core growth of 71.5% y/y offset the 67.1% y/y decline in non-core income. For 2025E, we forecast a 34.8% y/y growth in funded income (previously: […]

May 8, 2025/Cordros Report In Q1-25, UBA recorded a 37.3% y/y growth in gross earnings driven by growth across both core (+36.1% y/y) and non-core (+44.2% y/y) income. Looking ahead, we revise our gross earnings forecast upward (2025E: +26.7% y/y | previously: +23.4% y/y), underpinned by a 24.7% y/y and […]

May 8, 2025/CMC Connect LLP Accelerating growth and sequential margin expansion during the year supports strong operating and financial momentum Operating highlights Our total customer base grew[1]by 8.7% to 166.1 million, with our focus on digital inclusion supporting a 4.3% increase in smartphone penetration to 44.8%. Data customers increased by […]