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 […]
Investors Bite
Fidelity Bank Successfully Issues $400 Million Eurobond
Culled—Proshare October 16, 2017 Fidelity Bank (Fidelity Bank Plc (-/B-/B-) priced a highly successful US$400m 5-year Eurobond with a 10.50% coupon in what is the largest combined new issue & liability management offering ever by a Nigerian issuer. Citigroup Incorporated, Renaissance Capital and Standard Bank Group Limited managed the deal, […]
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 […]
