Culled—Proshare 29/8/2017/ ARM Research The stone the builders rejected… Prior to the FX-induced equity rally in Nigeria, the food sub-sector bore the brunt of a challenging macro-economic environment as investors priced in effects of constrained consumer income, naira depreciation and high interest rate on the performance of food producers. The […]
Investors Bite
Access Bank Redeems $350 million Eurobond
August 30, 2017/Access Bank Plc Access Bank Plc has announced the final redemption of the $350,000,000.00 Eurobond Notes due July 25, 2017. The Securities were issued in 2012 by Access Finance B.V. – a direct, wholly owned subsidiary of the Bank – on the back of an unconditional and irrevocable guarantee of the Bank. In October […]
United Bank for Africa Plc: Upward Revision to 2017F Estimates
August 29, 2017/Cordros Research In its recently released H1-17 results, UBA recorded a significant growth in gross earnings (+34.51% y/y), driven by impressive growth across income lines – interest income (+44.25%) and non-interest revenue (+16.01%). Over H2, we believe the improved yields on interest earning assets (expanded 205 bps to […]
