Dragonking:

Yes, crazy but true but if you doubt, you can confirm from todays market trades. Also, Carveton on my mind

I don't doubt you mehn. The FO phenomenon is just crazy. Really. And peeps keep thinking the stock will lose steam soon. I dey laff.

please where's the Bishop of this congregation; Bishop ihedioramma..

http://www.thisdaylive.com/articles/access-bank-focuses-on-cost-reduction/182853/
Access Bank Focuses on Cost Reduction

07 Jul 2014
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Access Bank logo


By Obinna Chima

Access Bank Plc’s unaudited results for the three-month period ended 31 March 2014, showed the financial institution’s continued focus on improving on its top line while managing its cost base.

The first quarter results also revealed progress towards the bank’s strategy of delivering profits through sustainable build-up of its loan book.

The results showed that the bank’s gross earnings for the quarter climbed to N57 billion, representing a nine per cent increase compared to the corresponding period in 2013.

In the same vein, its operating income increased by 19 per cent to N42 billion, supported by a 12 per cent increase in non-interest income during the period, while its profit before tax climbed by 20 per cent to N13.4 billion as at March this year, from N11.1 billion in the first quarter of 2013.

The bank recorded an improvement in its cost-to income ratio as it came down to 64.6 per cent from the 70.2 per cent it was previously.

During the quarter, Access Bank continued to streamline its operations and exited from Burundi. This contributed to the reduction in cost. In addition, key initiatives were implemented to forge ahead in its brand promise of speed, service, and security.

The Group Managing Director/Chief Executive Officer, Access Bank, Mr. Herbert Wigwe expressed delight over the progress that bank is making in delivering on its strategy.

According to him, the financial performance clearly demonstrates strong progress towards sustainable and profitable growth for its shareholders.

“Business performance has improved across all key segments, as the Bank lays out its medium term plan. Whilst our Corporate banking division remains a stronghold for the Bank, significant potential is being shown by our Personal and Business banking divisions.

“This quarter provides a solid base from which Access Bank will be able to deliver on the targets that we have set for ourselves for 2014.

“Looking forward we will continue to ensure delivery on our promises by remaining focused on our set objectives,” he said.

Therefore, in recognition of its strength, pan-African rating agency, upgraded the bank from “A” to “A+” with a stable outlook.

The rating cements Access Bank’s position as a Systemically Important Banking Institution in Nigeria and reflects the full synergy of the merger with Intercontinental Bank Plc.

Access Bank’s share price closed at N9.70 per share on the Nigerian Stock Exchange on Friday

ValueHunter: Where is 9free,moneysage,born2berich,frank....amidst bnsitl.Myjoy08 i like you(you are our cortana here as i hv bn seen some sense and reasoning in ur post because i often dissect ur information syntactically and semantically and thereafter look for info that validated them.We all need u here,hope u remained blessed,have a wonderful day ahead.

Bros i am here, oga seun changed my username without my knowledge so i couldnt log in since until i saw his post this morning about the issue.

BTW, for everyones info oga valuehunter is also immanuello/valuetrader

Nigerian Stock Exchange:

1. FG Approves Capital Market Funding for Investments Tribunal

2. CBN to raise N70.55bn from Treasury Bills

3. Report: Mint’s Production of Banknotes Drops from 2.6bn to 1.2bn

4. Banks’ deposits down by N646bn in June

5. African banks made highest returns on capital in 2013

6. WemaBank secures over $50m trade lines of credit from foreign correspondent banks

7. EFCC ‘probing N2b in judge’s account’

8. 13 Nigerian banks make top 1000 world ranking, lead Africa

9. Muslim group asks Sultan to dialogue with Boko Haram

10. Over 60 women, girls escape Islamist abductors in Borno

11. Third Quarter Fuel Import Drops To 1.7m Tonnes

12. U.S. overtakes Saudi Arabia, Russia as world’s biggest oil producer

13. Carlos Slim’s domination of Mexico’s telecom industry is coming to an end

Source: @proshare

Dragonking:

Yes, crazy but true but if you doubt, you can confirm from todays market trades. Also, Carveton on my mind

Dexterax:

I don't doubt you mehn. The FO phenomenon is just crazy. Really. And peeps keep thinking the stock will lose steam soon. I dey laff.

The bolded makes sense.

chukyjones: please where's the Bishop of this congregation; Bishop ihedioramma..

In church

ValueHunter: HYello Greatest BNSITL!!!
THANK GOD ALMIGHTY I AM AGAIN HERE TO SAY STH AFTER A WEEK OF WAITING.

You are welcome back to the fold bro

Born2beRich1:

In church

i hope so..probably sharpening his matchet endlessly while trying to figure out the business "they" are into.

Dexterax:

I don't doubt you mehn. The FO phenomenon is just crazy. Really. And peeps keep thinking the stock will lose steam soon. I dey laff.

FO heading back up in early trading already!

13 Nigerian banks among World’s 1000
Posted: 06 Jul 2014 06:02 PM PDT

Thirteen Nigerian banks have been named in the list of 1000 top lenders across the world.

According to The Banker magazine of the Financial Times Group in its 2014 report on banks released on Sunday 6 July, the Nigerian banks attained this feat for the second year in a row.

The Country Representative of The Banker Magazine, Kunle Ogedengbe, listed the 13 banks that made the ranking, which according to him, is based on Tier-1 capital, as Zenith Bank, Guaranty Trust Bank, First Bank, Access Bank, United Bank for Africa, Fidelity Bank and Ecobank Nigeria.

Others are: Skye Bank, First City Monument Bank, Diamond Bank, Stanbic IBTC Holdings, Standard Chartered Bank Nigeria and Union Bank of Nigeria.


Zenith Bank MD, Peter Amangbo

Zenith Bank was ranked top in Nigeria at 293 position while Guaranty Trust Bank was placed 415. First Bank and Access Bank were ranked 424 and 532 respectively. UBA was listed at 539 and Fidelity, occupied 622 position.

The Banker said the profit on capital of three Nigerian banks that are not foreign-owned subsidiaries increased. First Bank’s profit on capital increased to 25.32 per cent from 25.13 per cent, Access Bank, from 21.19 per cent to 21.24 per cent and First City Monument Bank, 15.77 per cent from 15.07 per cent.

The magazine said the share number of local banks that made the ranking “underlines Nigeria’s number one position in Africa, as no other African country had up to 13 banks in the Top 1,000 World Banks”.
Source: Pm News.

myjoy08: Hello My Brothers and Sisters in the Lord,

I hope everyone enjoy his or her weekend with family? Our expectations for this week remain bullish and will believe that God is merciful enough to grants all our good wishes into fulfillment. Keep striving, keep fighting for what you know to be right, keep the light of God in your life burning, don't faint, don't quit, don't give up, the good Lord will surely help you in your journey and he will never put you to shame. The Lord will be our light and redeemer in every steps of our way...enjoy the rest of your week and don't give room for discouragement in your life. Keep trusting in the good Lord...surely you will get there.

Below is my top picks for the week...God bless you all.

Sterling
Transcorp
Fidelity
Cileasing
Skye/International energy Insurance
Oando


Remember your due diligence is required. Best of luck.

I am into all with the exception of sterling, cileasing and IEI.

Transcorp is really doing well, #5.50, Oando up a bit too, hmmmmmm! These two stocks, kaboooooooooom!

Dexterax:

FO heading back up in early trading already!

Your wish is coming true now maybe you can buy if you wish oooo

nitrogen: Transcorp is really doing well, #5.50, Oando up a bit too, hmmmmmm! These two stocks, kaboooooooooom!

Transcorp is doing us proud.

Born2beRich1:

Bros i am here, oga seun changed my username without my knowledge so i couldnt log in since until i saw his post this morning about the issue.

BTW, for everyones info oga valuehunter is also immanuello/valuetrader

What was his reason for changing your username?

Dragonking:

Your wish is coming true now maybe you can buy if you wish oooo

Men dey buy FO @N200 on code. Honestly I think the stock is heading for another sweet ride (N300) and may kick off somewhere around N200.

Elai147:

Men dey buy FO @N200 on code. Honestly I think the stock is heading for another sweet ride (N300) and may kick off somewhere around N200.

Yes na..

Dragonking:

Yes na..

High prices never scare me cos l believe everything's relative. If forte oil is considered a high priced stock, what is our baseline for this consideration? The company's fundamentals or it's sector peers (who of course have different fundamentals)?

I'm always about my potential upside in percentages. That's what matters to me anyway. And l think Forte Oil presents a good momentum opportunity.

Elai147:

What was his reason for changing your username?

He gave his reason here: https://www.nairaland.com/1802133/why-changed-nairaland-username

Elai147:

Men dey buy FO @N200 on code. Honestly I think the stock is heading for another sweet ride (N300) and may kick off somewhere around N200.

FO lost N7 today. e be like say the stock go reverse reach N190 before changing gear.

Elai147:

FO lost N7 today. e be like say the stock go reverse reach N190 before changing gear.

It lost N2.08, not N7.

Oando also lost N0.50.

Born2beRich1:

He gave his reason here: https://www.nairaland.com/1802133/why-changed-nairaland-username

Abeg make Seun try change 'Evilspirit' username.

dsonofmaan:

It lost N2.08, not N7.

Oando also lost N0.50.

I know its previous close was N200.08 but the guy opened today's trading @N205 and closed at N198 meaning it lost N7 (today).

Oando lost N1.24 from today's trading.

Elai147:

Abeg make Seun try change 'Evilspirit' username.

Seun to dey fear evil spirit na

but honestly evilspirit means no harm and the guy is just human like all of us, no need to fret

Elai147:

Abeg make Seun try change 'Evilspirit' username.

The spirit knows your intentions.

Elai147:

I know its previous close was N200.08 but the guy opened today's trading @N205 and closed at N198 meaning it lost N7 (today).

Oando lost N1.24 from today's trading.

#jokeoftheyear

evilspirit:

The spirit knows your intentions.

For your mind you dey form evilspirit

evilspirit:

The spirit knows your intentions.

Bros abeg no vex. I remain loyal.

Born2beRich1:

#jokeoftheyear

Na now I believe say na former Born2BeRich be dis new Born2beRich1