Kingchuks:
FBN HOLDINGS PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

https://doclib.ngxgroup.com/Financial_NewsDocs/39018_FBN_HOLDINGS_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2023.pdf

Jesus, see result.
Eps from 1.55 to 5.19.
You no go see this one buy tomorrow
If they replicate this accross the othe remaining quarter, fbnh might just climb to 100/share.

Kingchuks:
FBN HOLDINGS PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

https://doclib.ngxgroup.com/Financial_NewsDocs/39018_FBN_HOLDINGS_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2023.pdf

ọmọ! And they'll be doing stinginess with dividend

They had to release this result early to end the closed period on time before Oba takes up all the shares. If not, when last did fbnh release results this early.

FBN HOLDINGS PLC H1 JUNE 2023 RESULTS (UNAUDITED)
NGN 2023 vs 2022

Gross earnings: N656.552b vs N359.151b : +82.81%
Profit/(Loss) before tax: N206.261b vs N65.723b : +213.83%
Profit/(Loss) for the year: N187.237b vs N56.602b : +230.80%
Total comprehensive income/(Loss): N382.575b vs N19.45b : +1,866.97%
Net Assets (vs 31 Dec): N1378.316b vs N995.741b : +38.42%

Another round of bull expected tomorrow with this great result by FBNH...

Agbalowomeri:


You came in late probably

It’s all about entry. Timing. Understanding the market you are in is key. Whether stock market or crayfish market all are markets. Buy when cheap or on sales… technical analysis or not. Understanding is key. Keep it simple.

Coolcash1:
FBN HOLDINGS PLC H1 JUNE 2023 RESULTS (UNAUDITED)
NGN 2023 vs 2022

Gross earnings: N656.552b vs N359.151b : +82.81%
Profit/(Loss) before tax: N206.261b vs N65.723b : +213.83%
Profit/(Loss) for the year: N187.237b vs N56.602b : +230.80%
Total comprehensive income/(Loss): N382.575b vs N19.45b : +1,866.97%
Net Assets (vs 31 Dec): N1378.316b vs N995.741b : +38.42%

Another round of bull expected tomorrow with this great result by FBNH...

Fantastic result, on the surface.
A closer look, however, shows bulk of the profit was from 'Fair Value' of financial assets; huge in Q2 (N236b) but marginally negative in Q1. They bought heavily into derivative assets in Q2. Notes 9 and 18 and the Statement of Cash Flows revealed.

What would be the fair value of those assets by YE? Up or down? The Audited accounts would reveal. So caution be applied.

Market might not send sha, so price could skyrocket from tomorrow. EPS of N5+ is no joke. We know price movement is not very dependent on the fine prints.

Kingchuks:
FBN HOLDINGS PLC- QUARTER 2 - FINANCIAL STATEMENT FOR 2023

https://doclib.ngxgroup.com/Financial_NewsDocs/39018_FBN_HOLDINGS_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_JULY_2023.pdf

Oba and Ote$ must have seen this results from their projections and started mopping before even stockbroking and other analysts forecast any estimate. Now they are positioning to eat from two sides. As shareholders and board men.

Mpeace:

Jesus, see result.
Eps from 1.55 to 5.19.
You no go see this one buy tomorrow
If they replicate this accross the othe remaining quarter, fbnh might just climb to 100/share.

Expect similar results from all the banks. A huge chunk were from Net gains or losses on financial instruments held at Fair Value Through Profit or Loss (FVTPL) . Probably recalibration on the new exchange rates. Expect extreme volatility. Need for extreme caution ⚠️.

Mpeace:
They had to release this result early to end the closed period on time before Oba takes up all the shares. If not, when last did fbnh release results this early.

First Bank is just being smart. Element of surprise. Most banks will issue similar results because of Net gains or losses on financial instruments held at Fair Value Through Profit or Loss (FVTPL) . Watch out for Stanbic IBTC.

Frangel:


Fantastic result, on the surface.
A closer look, however, shows bulk of the profit was from 'Fair Value' of financial assets; huge in Q2 (N236b) but marginally negative in Q1. They bought heavily into derivative assets in Q2. Notes 9 and 18 and the Statement of Cash Flows revealed.

What would be the fair value of those assets by YE? Up or down? The Audited accounts would reveal. So caution be applied.

Market might not send sha, so price could skyrocket from tomorrow. EPS of N5+ is no joke. We know price movement is not very dependent on the fine prints.

I was thinking the extraordinary profits would have come from foreign exchange gain. That particular segment actually recorded losses.
I am still trying to understand how they arrive at this Net gains/(losses) from financial instruments at fair value through profit or loss, huge I must say.
Could this be a prelude to what we should expect from other banks?
This is when you need oga Wanaj0 for better understanding!

Coolcash1:
FBN HOLDINGS PLC H1 JUNE 2023 RESULTS (UNAUDITED)
NGN 2023 vs 2022

Gross earnings: N656.552b vs N359.151b : +82.81%
Profit/(Loss) before tax: N206.261b vs N65.723b : +213.83%
Profit/(Loss) for the year: N187.237b vs N56.602b : +230.80%
Total comprehensive income/(Loss): N382.575b vs N19.45b : +1,866.97%
Net Assets (vs 31 Dec): N1378.316b vs N995.741b : +38.42%

Another round of bull expected tomorrow with this great result by FBNH...

The Book value per share jumped from N27.4 to N38
Ote$ and Otudeko knew they were mopping undervalued assets
Pray they will not get free hand to wreck it with rounds of impairment charges in years ahead.

pluto09:


I was thinking the extraordinary profits would have come from foreign exchange gain. That particular segment actually recorded losses.
I am still trying to understand how they arrive at this Net gains/(losses) from financial instruments at fair value through profit or loss, huge I must say.
Could this be a prelude to what we should expect from other banks?
This is when you need oga Wanaj0 for better understanding!

Some banks will benefit more than others.

Note this: The top 5 benefactors will be FBNH, FCMB, GTCO, Zenith and UBA according to a Chapel Hill report.

Please this is not a buy or sell recommendation

BabsO2:


Some banks will benefit more than others.

Note this: The top 5 benefactors will be FBNH, FCMB, GTCO, Zenith and UBA according to a Chapel Hill report.

Please this is not a buy or sell recommendation

Y do you guys always underestimate my darling Access bank? Lol

BabsO2:


Some banks will benefit more than others.

Note this: The top 5 benefactors will be FBNH, FCMB, GTCO, Zenith and UBA according to a Chapel Hill report.

Please this is not a buy or sell recommendation

Can you please post a link to the chapel hill report.

Willie2015:


Earn in dollars..
And convert it to Naira...
That should kill the Nigeria inflation...
If u can make $500 in a month...
And convert it to Naira..
U wont have a problem with Naija inflation...

How about if you dividend in a month is over that in naira equivalent when you do the maths

Frangel:


Fantastic result, on the surface.
A closer look, however, shows bulk of the profit was from 'Fair Value' of financial assets; huge in Q2 (N236b) but marginally negative in Q1. They bought heavily into derivative assets in Q2. Notes 9 and 18 and the Statement of Cash Flows revealed.

What would be the fair value of those assets by YE? Up or down? The Audited accounts would reveal. So caution be applied.

Market might not send sha, so price could skyrocket from tomorrow. EPS of N5+ is no joke. We know price movement is not very dependent on the fine prints.

You are right somehow.Then those Derivatives can neither turn to loss or liabilities

pluto09:


I was thinking the extraordinary profits would have come from foreign exchange gain. That particular segment actually recorded losses.
I am still trying to understand how they arrive at this Net gains/(losses) from financial instruments at fair value through profit or loss, huge I must say.
Could this be a prelude to what we should expect from other banks?
This is when you need oga Wanaj0 for better understanding!

@currentprice, onegentleguy, Pa Emma and our able analyst ALSO needed to digest this FBNH result.

kolaish:
@currentprice, onegentleguy, Pa Emma and our able analyst ALSO needed to digest this FBNH result.

Wait for the audited financial report, you can discount the current EPS by 40% to 50%, you can also use the average EPS in the last 5 years and give it a premium of about 50%, or look at the average earning growth rate and use it forecast the expected EPS for 2023.

I prefer using the normalized EPS for my calculation, get the average return on equity for the past 5 years and multiply it by the current Book value per share

Morgan Capital iTrade is not connected to NGX!

Net gains or losses on financial instruments held at Fair Value Through Profit or Loss (FVTPL) refer to the overall changes in the fair value of these instruments over a specific period. Financial instruments held at FVTPL are assets or liabilities that the company chooses to measure at fair value, with changes in fair value recognized in the income statement.

Here's a breakdown of the key components:

Financial Instruments: These are assets or liabilities that are categorized as "held for trading" or are designated as FVTPL by the company. These instruments can include stocks, bonds, derivatives, and other marketable securities.
Fair Value: Fair value represents the estimated market value of the financial instrument on a specific reporting date. It is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Net Gains or Losses: Net gains occur when the fair value of financial instruments increases over the reporting period, while net losses occur when the fair value decreases. The net gains or losses are calculated by comparing the fair value of the financial instruments at the end of the reporting period with their fair value at the beginning of the period.
Recognition in Income Statement: The net gains or losses on financial instruments held at FVTPL are recognized in the company's income statement. They contribute to the overall profit or loss for the period.
It's important to note that holding financial instruments at FVTPL can lead to greater earnings volatility, as the fair value changes are directly reflected in the income statement. This is in contrast to other accounting categories like "Available for Sale" or "Held to Maturity," where changes in fair value may not immediately impact the income statement.

The treatment of financial instruments, including those held at FVTPL, is subject to accounting standards and regulations, such as International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), which may vary depending on the country and the specific circumstances of the company.


Credited to chatGPT.

aj8:
Net gains or losses on financial instruments held at Fair Value Through Profit or Loss (FVTPL) refer to the overall changes in the fair value of these instruments over a specific period. Financial instruments held at FVTPL are assets or liabilities that the company chooses to measure at fair value, with changes in fair value recognized in the income statement.

Here's a breakdown of the key components:

Financial Instruments: These are assets or liabilities that are categorized as "held for trading" or are designated as FVTPL by the company. These instruments can include stocks, bonds, derivatives, and other marketable securities.
Fair Value: Fair value represents the estimated market value of the financial instrument on a specific reporting date. It is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants.
Net Gains or Losses: Net gains occur when the fair value of financial instruments increases over the reporting period, while net losses occur when the fair value decreases. The net gains or losses are calculated by comparing the fair value of the financial instruments at the end of
the reporting period with their fair value at the beginning of the period.
Recognition in Income Statement: The net gains or losses on financial instruments held at FVTPL are recognized in the company's income statement. They contribute to the overall profit or loss for the period.
It's important to note that holding financial instruments at FVTPL can lead to greater earnings volatility, as the fair value changes are directly reflected in the income statement. This is in contrast to other accounting categories like "Available for Sale" or "Held to Maturity," where changes in fair value may not immediately impact the income statement.

The treatment of financial instruments, including those held at FVTPL, is subject to accounting standards and regulations, such as International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP), which may vary depending on the country and the specific circumstances of the company.


Credited to chatGPT.

In simple terms
E.g a company that holds $1,000,000 bonds @Naira value of N450, must if now the USD is valued at N800 , must reflect the difference as gain on the income statement. That would in the above example, add N350,000,000 as gain thereby affecting the final income statement

When does trading start on NGX

seyisanya:
Morgan Capital iTrade is not connected to NGX!

Confirmed!!

jarkbauer:
When does trading start on NGX

10am

Mfunkynation:

10am

Thanks. I’m asking because no trading seems to going on now.

I am buying more Stanbic @57.1500. The other banks are responding positively to the prospects . Target now N90.00

They will not connect now until fbnh shares finish for market

aj8:
I am buying more Stanbic @57.1500. The other banks are responding positively to the prospects . Target now N90.00

U are lucky. Morgan capital is down

jarkbauer:
When does trading start on NGX

It's on now... Green coming too early... Let's see how it goes

FBNH full bid with 144M

MCS, I almost thought today is public holiday

seyisanya:
Morgan Capital iTrade is not connected to NGX!

Based on there antecedent I anticipated that last night when I saw the FBNH result.