Culled—Proshare October 17, 2017/ARM Research As market watchers say, late Friday is the best time to release bad earnings while early Monday is the perfect timing for an impressive result. With this in mind, UBA’s early release on Monday was initially greeted with optimism, with a more critical assessment of […]
Results & Dividends
UBA Plc – Strong Earnings Run Rate Despite Marginal Miss
Culled—Proshare October 17, 2017/Vetiva Research Gross Earnings up 26% y/y – 7% ahead of our estimate · Strong FX trading income masks high costs, amidst improving FX liquidity · We maintain our 8% loan growth forecast, Ytd 6% · Target price revised marginally lower to N9.32 (Previous: N9.74) Strong y/y […]
UBA Report: Consolidating on Stellar Q3 Performance Amidst OPEX Pressure
October 16, 2017/Cordros Research Click here to download full PDF copy of report This afternoon, United Bank for Africa Plc (UBA) released 9M 2017 results, wherein key lines consolidated on the impressive performance in the first six months. Gross earnings grew by 25.75% (missed our estimate by 2.67%), driven by […]
