Mfunkynation:
morning Huz, my bornday is today..... have awesome day folkz

Happy birthday sir..where the party at?

Intendy:
http://nairametrics.com/highlights-of-fcmbs-conference-call-to-investors/

Hehehe, so investors should not expect dividend from this stock? I laugh in Chinese...However, I love their transparency and how they carry investors along unlike oando that will keep telling lies upon lies.
#issokay

FCMB Group Plc Announces 3Q15 Results

FCMB Group Plc announces a Profit before Tax of N2.6 billion for the nine-months, ended 30 September 2015.

LAGOS, NIGERIA – 29 JANUARY 2016: FCMB Group Plc (Bloomberg: FCMB) (“FCMB Group”) announced its Unaudited Group Results (though containing the Bank’s Audited Results), for the nine-months ended 30 September 2015.

Financial Performance Highlights:

Earnings Analysis:

Revenue of N109.3 billion for the nine-months ended September 2015, an increase of 2% from N106.7 billion for the same period prior year.
Profit before tax (PBT) of N2.6 billion for the nine-months ended September 2015, down 85% from N16.8 billion for the nine-months 2014.
Net interest income of N48.7 billion, for the nine-months ended September 2015, a decline of 1% Year-on-Year (YoY), from N49.1 billion for the same period prior year.
Operating expenses up 3% YoY to N50.5 billion, for the nine-months ended September 2015, from N48.9 billion for the same period prior year.
Financial Position:

Loans and advances up 1% YoY to N568.0 billion in September 2015 (N565.0 billion in September 2014), down 9% Year-to-date (YTD) (N618.0 billion in December 2014).
Total assets up 12% YoY to N1.17 trillion in September 2015 (N1.04 billion in September 2014), but flat YTD (N1.17 trillion in December 2014).
Customer deposits down 3% YoY to N703.0 billion in September 2015 (722.0 billion in September 2014) and down 4% YTD (N733.8 billion in December 2014), largely driven by the withdrawal of deposits into the Treasury Single Account (TSA) by the CBN.
Key Ratios

Capital Adequacy Ratio – 18.3% (19.0% for nine-months September 2014).
Liquidity Ratio – 35.8% (32.2% for nine-months September 2014).
Loan to Deposit Ratio – 80.8% (78.2% for nine-months September 2014).
Cost to Income Ratio – 73.9% (70.3% for nine-months September 2014).
Non-Performing Loans (NPL) to Total Loans Ratio – 5.8% (3.6% for full-year 2014).
Low-Cost Deposit Mix – 65.8% (65.7% for nine-months September 2014).
Commentary:
Mr. Peter Obaseki, Managing Director of FCMB Group Plc, had this to say about the results:

“The Group’s nine months’ profit before tax, dropped YoY to N2.6 billion, with the significant earnings drop largely coming from our commercial banking activities. This was caused by a specific impairment of N5.4 billion on a contracted receivable with a reputable and creditworthy going concern that we are hopeful of recovering and additional impairments of N6 billion on our loan book. Revenue also came under significant pressure due to various regulatory and macroeconomic headwinds, with the lull in the capital markets also adversely affecting equity capital transactions and other businesses under our investment banking arm. However, top-line revenue continues to hold up on the back of a strong and resilient retail business, transaction services and alternate channel offerings; improving liquidity and stable capital adequacy.

Against the backdrop of a weak macroeconomic environment, the priority in the coming months will be on cost efficiencies - especially cost of risk - capital preservation, loan and receivable recoveries and sustaining the momentum in our retail banking activities.”

megainvest:
Obama proposes $10 per barrel oil tax - Financial Times

The White House is proposing a bold $10 per barrel tax on oil in a move that immediately sparked a backlash from an energy industry buckling under the pressure of low prices.

The proposal was contained in a budget plan that the Republican-led Congress will ensure is never enacted, but it is likely to force the Democratic candidates for president to sharpen their positions on energy.

The oil industry said that the tax would raise the cost of petrol by 25 cents per gallon and undo the shale energy revolution, while a senior Republican congressman called it “dead on arrival”.

More at ft.com

My opinion: This will kill the American oil producers and increase the price of brent. More money to my portfolio!

You like money too much

Manonamission:


You like money too much

Born2berich:
Hehehe, so investors should not expect dividend from this stock? I laugh in Chinese...However, I love their transparency and how they carry investors along unlike oando that will keep telling lies upon lies.
#issokay

those who fail to learn by fact, will learn trough accident.
like they said it can't go below 0.95k
Sit down mode activated

Born2berich:
Happy birthday sir..where the party at?

thankz bosss...... the party will be on the floor NSE today

Intendy:

those who fail to learn by fact, will learn trough accident.
like they said it can't go below 0.95k
Sit down mode activated

I like their transparency a bit. But what i find curious is the level at which same set of individuals seems to owe banks across the Land. The portion owed by Capital Oil should just be written off as the total exposure of Capital Oil to AMCON is mind boggling. Where is the risk management of this Bank? There is no functional shareholders association in this Land.

Mfunkynation:
thankz bosss...... the party will be on the floor NSE today

Happy birthday. I guess you will be ringing the closing bell on the floor today.
Belated birthday greetings to Chibuking81.

Birthday greetings to all February celebrants.

rebekah2011:


I like their transparency a bit. But what i find curious is the level at which same set of individuals seems to owe banks across the Land. The portion owed by Capital Oil should just be written off as the total exposure of Capital Oil to AMCON is mind boggling. Where is the risk management of this Bank? There is no functional shareholders association in this Land.

The regulatory agencies too are culpable. For instance, the credit history of every prospective borrower is checked before advancing loans. A customer owing a bank and not servicing the loan should ordinarily not be able to borrow from another bank. If a loan is serviced, there wouldn't be any reason to make provision for it not to talk of writing it off. But what we have is an individual/company owing multiple banks and not servicing the loans.
Let's not forget that some bankers too make a fortune from this illegally.

Hello, MFUNKYNATION.

Happy Birthday and very many happy returns of the day!
We are wishing you long life, good health and prosperity.


Best regards,
MorganCapital Securities Limited.

---

love this...... jus got it

I absolutely Love this thread

Mfunkynation:
thankz bosss...... the party will be on the floor NSE today

A Happy Birthday To You! More prosperous years.

AgoraRoad:
I absolutely Love this thread

Me too. I've not let it go since I found it. Thanks to stockbull for starting this thread.

Pls house morgan working this morning ..help confirm

I trade is not working

lancee:
Pls house morgan working this morning ..help confirm

Morgan iTrade is not showing live data!

EDUECO:
Morgan iTrade is not showing live data!

They don start again. . You can't buying / selling

Who are those sabotaging Morgan iTrade?

Wake me up when Morgan starts working. I have plans

Meanwhile, Meritrade is working and the floor is very RED!

Correction: I just noticed Meritrade is still carrying yesterday's data. As usual!

EDUECO:
Morgan iTrade is not showing live data!

it was working around 9.30am up... i even place a sell bid... bt not connectin wit nse

lancee:



They don start again. . You can't buying / selling

NSE is where I get part of my 'national cake' from,so spoilers should beware!

Mfunkynation:
it was working around 9.30am up... i even place a sell bid... bt not connectin wit nse

Looks like the problem is from the NSE. I can't access the NSE either.

rebekah2011:


I like their transparency a bit. But what i find curious is the level at which same set of individuals seems to owe banks across the Land. The portion owed by Capital Oil should just be written off as the total exposure of Capital Oil to AMCON is mind boggling. Where is the risk management of this Bank? There is no functional shareholders association in this Land.

Their transparency is good which is needed at this time.... transparency is needed to build investors confidence. I see the price of the stock stabilizing very soon.

EDUECO:
NSE is where I get part of my 'national cake' from,so spoilers should beware!

tried calling them ..not gettin thru

Intendy:

those who fail to learn by fact, will learn trough accident.
like they said it can't go below 0.95k
Sit down mode activated

People only see what their eyes want them to see. Most don't like to hear the blatant truth and use the truth to get their priorities in order rather they prefer the easiest way out, which is hopeville. If not for the strong market maker this stock for don park finish. There is an adage that says;
"Fly were refuse to hear word go soon follow dead body enter grave."

#Folds hands behind back and walks away

Born2berich:
People only see what their eyes want them to see. Most don't like to hear the blatant truth and use the truth to get their priorities in order rather they prefer the easiest way out, which is hopeville. If not for the strong market maker this stock for don park finish. There is an adage that says;
"Fly were refuse to hear word go soon follow dead body enter grave."

#Folds hands behind back and walks away

born2berich make we hear something now!!!! at least we learn everyday!!! either by loss or by mere knowledge

I just heard from a reliable source that.. PHCN disconnect NSE light and no money to buy diesel and fuel... abeg make we wait small..

ufotty2001:
born2berich make we hear something now!!!! at least we learn everyday!!! either by loss or by mere knowledge

my AKS bros... easy on him oooo

NSE is not down but Morgan is down. There is market data on NSE website and ft.com.

ufotty2001:
I just heard from a reliable source that.. PHCN disconnect NSE light and no money to buy diesel and fuel... abeg make we wait small..

be serious... they cant pay phcn bill