By InvestAdvocate Lagos (INVESTADVOCATE)- Pan-African lender, Ecobank Group said on Friday its profit after tax (PAT) for the half-year (H1) period ended June 30, 2016 dropped 35 percent to N3.08 billion from N48.11 billion posted a year earlier. Similarly, profit before tax (PBT) declined 32 percent to N41.55 billion compared […]
Updates
FCMB Group Loan Loss Provisions Spike by 506% YoY to N10bn in Q2’16
Culled—–Proshare Event: FCMB Group reports Q2 2016 results Implications: Likely upward revision to consensus 2016 PBT estimate; market’s reaction likely to be positive Positives: PBT and PAT grew by 271% y/y and 415% y/y respectively due largely to fx gains Negatives: Loan loss provisions spiked by 506% y/y to N10.0bn […]
Transcorp Reports N12.2 Billion Loss in H1 2016 Due to Naira Devaluation
By InvestAdvocate Lagos (INVESTADVOCATE)-Nigeria’s top conglomerate, Transnational Corporation of Nigeria Plc said on Friday it has posted a loss after tax of N12.2 billion for the half-year (H1) period ended June 30, 2016 compared to N4.3 billion gain a year ago. Similarly, the conglomerate declared a loss before tax of […]
