August 26, 2016/UBA Plc Event: United Bank for Africa (UBA) reports Q2 2016 results Implications: Market reaction likely to be positive Positives: Strong non-interest income growth; significant (N58bn) positive result on the other comprehensive income line Negatives: Net interest income down -12% y/y Late yesterday, United Bank for Africa (UBA) […]
Updates
ACCESS HY’16 Update: Ready for the Challenge; TP Revised Upwards
August 26, 2016/Cordros Research Access Bank Plc (ACCESS) released its half year 2016 earnings report earlier on the 19th of August 19, 2016. The Bank reported an EPS of N1.61, up from N1.36 in the previous year. The result outperformed our estimate, with PBT growth of 27.9% and RoAE of […]
UBA H1’16: Earnings Resilient; PBT Up 3.1% y/y
August 26, 2016/Cordros Research United Bank of Africa (UBA) released its half earning yesterday evening. Annualized EPS was N1.88 (H1’15: N1.88) ahead of consensus and our estimate of N1.49 and N1.40 respectively, while RoAE was 18.03% versus our estimate of 14.8%. The bank declared a N0.20 dividend (H1’15: N0.20) with […]
