April 28, 2017/Fidelity Bank Plc Top Nigerian lender, Fidelity Bank Plc recorded a solid financial performance in the first quarter of 2017, posting appreciable growth in profits and gross earnings for the period ended March 31, 2017. This is in spite of the challenging and fiercely competitive business environment. Details […]
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Total Nigeria Reports Q1 2017 Results – Gross Margin Contracts to 11.2% YoY
Culled—Proshare APRIL 26, 2017/FBNQuest Research Event: Total Nigeria (Total) reports Q1 2017 results Implications: Cuts to consensus 2017E estimates expected Positives: Q4 sales of N80.5bn up 35% y/y and PBT up 11% y/y to N4.3bn Negatives: Gross margin contracted -371bps y/y to 11.2%; PAT declined -5% y/y due to a relatively […]
GTBank Records Net Interest Income Growth of Over 60% in Q1 2017
Culled–Proshare April 26, 2017/FBNQuest Research Event: GT Bank reports Q1 2017 results Implications: Positive reaction from the market expected; results running ahead of full year PBT guidance of N168bn Positives: Net interest income (and PBT) growth of over 60% y/y; results were ahead of our forecasts Negatives: No major negatives […]
