Culled—Proshare November 3, 2017/Cordros Capital Research First Bank of Nigeria Holdings Plc (”FBNH”) recently released their unaudited Q3-17 results, wherein gross earnings grew marginally by 1.85% q/q and 0.40% y/y (1.77% above our estimate), while PBT and PAT rose 28.01% q/q (71.19% y/y) and 24.44% q/q (145.47% y/y), respectively. The […]
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Lafarge Cut to Estimates After Loss in Q3-17
November 3, 2017/Cordros Research We revise forecasts for LAFARGE following 9M-2017 results, and adjust our TP for the stock for the Rights Issue (RI). We cut net profit forecasts by 85% for 2017F and by 3% average for 2018-2019F, increase shares outstanding (NOSH) by 57% to 8.6 billion, […]
Diamond Bank Divests 97.07% Equity Stake in Diamond Bank SA
November 3, 2017/NSE We wish to notify the Exchange and investing public that Diamond Bank Plc (“the Bank”) is in the final stages of divesting its 97.07% equity stake in Diamond Bank S.A. (“Diamond S.A.”) (“The Transaction”). The proposed divestment is part of the Bank’s plan to align its business […]
