Culled—Proshare March 14, 2018/FBNQuest Research Event: Stanbic IBTC Holdings (Stanbic) reports Q4 2017 results Implications: Limited reaction from the market likely Positives: Strong growth in non-interest income, +63% y/y Negatives: Proposed final dividend of 50kobo below expectations; opex +38% y/y Stanbic’s Q4 2017 results which were released this afternoon show that PBT […]
Results & Dividends
GTBank Reports Q4 2017 Results – Funding Income Declined by 9% YoY
Culled—Proshare March 14, 2018/FBNQuest Research Event: GT Bank reports Q4 2017 results Implications: Slight positive reaction once the market has digested the figures properly Positives: PBT grew by 85% y/y, thanks to a 736% y/y growth in non-interest income Negatives: Funding income declined by 9% y/y; we est. NPL ratio […]
Zenith Bank Plc – Strong Trading Gains Mask Huge Provisioning
Culled—Proshare March 31, 2018/Vetiva Research • Top and bottom line beats estimates, up 47% and 37% y/y respectively • Loan portfolio moderates 8% y/y, despite strong balance sheet growth • Liquidity ratio and CAR stand firm at 69% and 27% respectively • Management guide, IFRS 9 to shave ₦42 billion off shareholders’ fund Earnings […]
