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 […]

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 […]

Culled—Proshare October 16, 2017/FBNQuest  Event: United Bank for Africa (UBA) reports Q3 2017 results Implications: Limited revisions to consensus PBT forecasts; Neutral reaction from the market Positives: Loan loss provisions were well below our expectations Negatives:  Opex grew 25% y/y This morning UBA published its Q3 2017 results which showed […]