Culled—Proshare April 23, 2018/FBNQuest Research Event: Stanbic IBTC reports Q1 2018 results Implications: Positive reaction from the market likely Positives: Double-digit PBT and PAT y/y growth; write-back of N5.1bn Negatives: Operating expenses up 47%; NPL balance up 17% q/q to N37bn Last week Friday afternoon, Stanbic IBTC (Stanbic) published its Q1 […]
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UBA Reports Q1 2018 Results – PAT Grew by 45% YoY, Thanks to Strong OCI Gains
Culled—Proshare April 23, 2018/FBNQuest Research Event: United Bank for Africa (UBA) reports Q1 2018 results Implications: Limited revisions to consensus 2018E PBT forecast Positives: PAT grew 45% y/y, thanks to strong OCI gains Negatives: Pre-provision profits fell -14% q/q driven by a -30% q/q reduction in non-interest income UBA’s Q1 2018 […]
Nigerian Equities Market Open Week in Red, ASI Dips -012% on Selloffs in Industrial Goods Counters
April 23, 2018/Cordros Update EQUITIES The domestic bourse opened the week on a negative note, with the All Share Index dropping by 0.12% to 40,763.93 points, following selloffs of Industrial Goods stocks. Accordingly, the Month-to-Date and Year-to-Date returns moderated to -1.78% and 6.59% respectively. The Industrial Goods (-2.72%) index posted […]
