The Central Bank of Nigeria recent announcement of temporarily suspending nine commercial banks, including Heritage Bank, from accessing the foreign exchange market is a systemic challenge for the banking sector, which cuts across all banks. As a financial institution, we have continued to build on foundation of sound corporate; maintained […]
Updates
Dangote Cement Strong Q2 Results Underpinned by FX Gains
Culled—Proshare August 25, 2016/FBNQuest Research Maintaining Neutral rating despite increases to our EPS forecasts Dangote Cement’s (DangCem’s) Q2 2016 PAT beat our forecast by a considerable margin and grew strongly (+132% y/y). However, the results were mainly driven by fx gains. Excluding the gains, the underlying results were weak. As […]
UBA Sustains Strong Asset Quality, Profitability, Proposes 20 Kobo Interim Dividend
August 25, 2016/UBA United Bank for Africa Plc (“UBA” or “the Bank”), announced its Audited 2016 Half Year Financial Results for the period ended 30 June 2016 showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before tax of N40 billion. The […]
