August 30, 2018/Cordros Report Update: We resume coverage of GUARANTY with a BUY recommendation, following impressive H1-2018 performance. The result showed gross earnings grew by 5.85% y/y to NGN226.63 billion, following a 31.95% growth in non-interest income (NIR), which made up for the 8.96% drop in interest income. PBT and […]
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Guinness Nigeria Plc to Pay N1.84 DPS in 2018FY; Amidst Unimpressive Q4-18 Performance
August 30, 2018/Cordros Report Guinness Nigeria Plc released Q4-18 and 2018FY results yesterday. The Board has proposed a dividend of NGN1.84/share (c.3x 2017FY DPS) on the NGN6.7 billion net profit achieved in 2018FY (+249% vs. 2017FY). Q4-18 performance (for the period ended June 2018) was not impressive, and will likely […]
Stanbic IBTC Confirms CBN Fine in Relation to MTN Transaction
August 30, 2018/NSE Stanbic IBTC Holdings PLC (a member of Standard Bank Group) has been informed by its banking subsidiary – Stanbic IBTC Bank PLC (the “Bank”) that penalties have been imposed on the Bank by the Central Bank of Nigeria (CBN) pursuant to a review of transactions relating to […]
