Culled—Proshare August 31, 2018/CardinalStone Research United Bank for Africa Plc (UBA) H1’18 results – Gross earnings rose by 13.7% YoY to N244.8 billion, slightly ahead of our estimate of N234.6 billion (+4.3% deviation). Similarly, after tax earnings improved, albeit moderately, by 3.4% YoY to N43.8 billion, a tad below our […]
Results & Dividends
FCMB: Credit Shrink Informs Revision to 2018 Estimate
Culled—Proshare August 31, 2018/ARM Research FCMB half-year result saw earnings jump 90% YoY to N0.29/share on the back of moderation in funding cost (-44 bps YoY to 6.0%), strong Non-Interest-Revenue (+28% YoY) and a substantial decline in loan loss provision (-27% YoY to N7.3 billion). However, some key line items […]
UBA Q2 2018: Surprising Surge in Loan Impairments
August 31, 2018/InvestmentOne report Net interest income of N57.5billion, up 7.4% q/q; up 15.5% y/y Non-interest income of N24.3billion, up 39.1% q/q, down 15.3% y/y Profit before tax of N31.6billion, up 18.9% q/q; down 1.5% y/y Profit after tax of N20.1billion, down 15.5% q/q; up 0.3% y/y Late on […]
