Fidelity

- N3.18 last calling lollx

mendes911:


This might do FULL BID today.

Sellers are still relentless oooo

mendes911:


This might do FULL BID today.

Bro.I am not saying you should not buy today o.
I will advice you wait let all these stocks fall to a good entry level.
The better for all of us.
By the way,do you know that many banks are not going to pay dividends this year due to CBN policy?
Is FBN in exception?
Dont you think #8.00 should be a better bergain?

locodemy:


Bro.I am not saying you should not buy today o.
I will advice you wait let all these stocks fall to a good entry level.
The better for all of us.
By the way,do you know that many banks are not going to pay dividends this year due to CBN policy?
Is FBN in exception?
Dont you think #8.00 should be a better bergain?

fxuser:


over 20m traded already
a very sweet spot

Today na today...

mendes911:


Sellers are still relentless oooo

V-turns are more rare than U-turns, even in daily life.
Wait for clarity, market will remain here even for your great grand children.
Why plan to recoup later when people will be making gains, by buying higher now?
This stock MUST trade below N10. I so decree!

#wait...

mendes911:


Sellers are still relentless oooo

No be small thing. This kind of sell pressure is usually common with Diamond and Fcmb, not sure I've ever seen it in fbnh during my little stay on NSE

FROM NAIRAMETRICS.

Why CBN is stopping these banks from paying dividends this
year
A padlocked gate.
Retail shareholders expecting bumper dividends from some banks in the country, may be disappointed as the Central
Bank of Nigeria (CBN) has issued a circular updating its rules regarding dividend payments by banks and discount
houses.
Most banks in the country are gearing up for the release of their audited financial statements for the 2017 financial year.
Highlights of the circular
Any bank that does not meet the minimum capital adequacy ratio shall not be allowed to pay dividends.
Banks or discount houses that have a high composite risk rating of high or Non-Performing Loan (NPL) ratio of above
10% shall not be allowed to pay dividends.
Deposit Money Banks and Discount Houses that meet the minimum capital adequacy ratio but have a CRR of “Above
Average” or an NPL ratio of more than 5% but less than 10% shall have dividend payout ratio of not more than 30%.
Deposit Money Banks and Discount Houses that have capital adequacy ratios of at least 3% above the minimum
requirement, CRR of “Low” and NPL ratio of more than 5% but less than 10%, shall have dividend payout ratio of not
more than 75% of profit after tax.
There shall be no regulatory restriction on dividend pay-out for Deposit Money Banks and Discount Houses that meet
the minimum capital adequacy ratio, have a CRR of “low” or “moderate” and an NPL ratio of not more than 5%. However,
it is expected that the Board of such institutions will recommend payouts based on effective risk assessment and
economic realities.
No bank or discount house shall be allowed to pay a dividend out of reserves.
Banks shall submit their Board approved dividend payout policy to the CBN before the payment of dividend shall be
permitted.
A Non-Performing Loan (NPL) is one in which the borrower is neither paying the interest or the principal. Capital
Adequacy Ratio (CAR) is the Capital Adequacy Ratio (CAR) i is the proportion of a bank’s own equity in relation to its
risk exposure.
The capital adequacy ratio (CAR) for banks in Nigeria currently stands at 10% and 15% for national/regional banks and
banks with an international banking licence, respectively.
Banks that are likely to be affected
Tier two banks will be hard hit by the new policy as they historically have had higher Non Performing Loans (NPLs) and
lower Capital Adequacy Ratios (CARs). This could in some cases lead to some of the banks not paying dividends or
being placed on the 30-75% payout band.
Banks that may be barred from paying dividends.
Source: Stanbic IBTC
According to a report from Stabnic IBTC, from a CAR perspective none of the Tier 1 Banks are affected using 9M 2017
unaudited numbers.
From a NPL ratio perspective, FBN would be captured at bank level at 9M 2017, but banks which belong to a HoldCo
structure such as FBNH can typically still pay dividend derived from their non-bank subsidiaries.
Not paying Dividends
From all indications, banks like Union Bank, Unity Bank and Skye Bank are not eligible to pay dividends in 2017.
Paying Dividends but with likely restrictions
FBNH – restricted to 30% of profits
Ecobank – restricted to 30% of profits
Stanbic IBTC – restricted to 75% of profits
FCMB – restricted to 30% of profits
Fidelity Bank – restricted to 30% of profits
Sterling Bank – restricted to 30% of profits
Wema Bank -restricted to 30% of profits
Paying Dividends without restrictions
Access Bank
GT Bank
UBA
Zenith Bank

Deadlytruth:
Question of the day:

Why is it that, despite its yoy and qoq inconsistency as per results, LIVESTOCK has not only remained liquid but even appreciates sometimes with percentages fair enough put a smile to the bank on jijoists' faces.

Our gurus here need to weigh in on this.
Cc: Wanajo1, Current Price, Emmanuelewunmi, Bullbear, Agbalowomeri, Ihedi, RabiDoracle, fxuser, Obagaddafi, Yayira, Investnow 2017, Parisfran, Onegentleguy, Coolcash, Locodemy, Godlyguy, Tritritri, etc.

I no be guru o. Never opened livestock financial statement.

mendes911:


Sellers are still relentless oooo

No be small thing o. They are hammering the elephant today. I wish these people knew the CBN Refresh is "Neutral to this Company". But again, it cant be retail investors that are doing all this selling.

locodemy:


Bro.I am not saying you should not buy today o.
I will advice you wait let all these stocks fall to a good entry level.
The better for all of us.
By the way,do you know that many banks are not going to pay dividends this year due to CBN policy?
Is FBN in exception?
Dont you think #8.00 should be a better bergain?

you wan Cadialic to come for your head. anyway 9free want it for N3.60

FBNN don do Janet for pple

rationalmind:


No be small thing. This kind of sell pressure is usually common with Diamond and Fcmb, not sure I've ever seen it in fbnh during my little stay on NSE

A welcome development.Do you think you will not make it big as this is happening?
#1.50 is a good entry point.

Deadlytruth:
Question of the day:

Why is it that, despite its yoy and qoq inconsistency as per results, LIVESTOCK has not only remained liquid but even appreciates sometimes with percentages fair enough put a smile to the bank on jijoists' faces.

Our gurus here need to weigh in on this.
Cc: Wanajo1, Current Price, Emmanuelewunmi, Bullbear, Agbalowomeri, Ihedi, RabiDoracle, fxuser, Obagaddafi, Yayira, Investnow 2017, Parisfran, Onegentleguy, Coolcash, Locodemy, Godlyguy, Tritritri, etc.

it just pure sentiment my brother, the thinking that livestock reach N6 few years ago

currentprice:


you wan Cadialic to come for your head. anyway 9free want it for N3.60

FBNN don do Janet for pple

I move for early bell ringing. ...

JAPAUL oooooo

Japaul Oil busy packing customers. NSE... LOL. Their "news" worked for them, Skye's own is yet to work.

IchimokuPilot:


I move for early bell ringing. ...

let hear opinion from other pple, then ....

mendes911:

Japaul Oil busy packing customers. NSE... LOL. Their "news" worked for them, Skye's own is yet to work.

Japaul on full bid. 26m+

TLAX:


No be small thing o. They are hammering the elephant today. I wish these people knew the CBN Refresh is "Neutral to this Company". But again, it cant be retail investors that are doing all this selling.

No be today , we would keep buying and sell back to them in a few moths

IchimokuPilot:


I move for early bell ringing. ...

No be here o.
I saw one comment made by currentprice last week.
It means those who sold at reduced profit last week is making gain now as the stocks are falling.
Is there any trader/jijo in this forum who has not sold off up till now?
Abeg no ring the bell o.prices must drop.
CASH IS KING..........DANCING AZONTO

TLAX:


Japaul on full bid. 26m+

Yours truly missed this one. "I was able to get just 300k units. If you can't beat them, join them"

mendes911:

Japaul Oil busy packing customers. NSE... LOL. Their "news" worked for them, Skye's own is yet to work.

More of buy the news and sell the rumour...

Newbies please stay away from Japaul and Skye for now until the coast is clear....

Master jijoists food don ready...Let's sharpen our cutlasses...

Chibuking81:

Meaning that FCMB, will soon fly higher, they are first among the tier two bank, they are not restricted to pay, meaning that based on the CBN policy, the bank is healthy.
My Morgan realtime is not working, my CSL is working after four days of break down.

What of the drop in both revenue and PAT as the audited result will soon be released?
Fcmb will be facing double issues very soon and I see the price dropping the more.
Q1 will bring the bank to its foot.I will take position before Q1 result.......

kolaish:
Yours truly missed this one. "I was able to get just 300k units. If you can't beat them, join them"

Like I said, follow the money....

Yours truly on queue to grab my copy too....

FMN? what a gwan?

locodemy:


What of the drop in both revenue and PAT as the audited result will soon be released?
Fcmb will be facing double issues very soon and I see the price dropping the more.
Q1 will bring the bank to its foot.I will take position before Q1 result.......

If that happens...then this will be the third year in a row i will benefit from this stock.....without any change in strategy or even thinking about it too much. Talk about cycles...

locodemy:


No be here o.
I saw one comment made by currentprice last week.
It means those who sold at reduced profit last week is making gain now as the stocks are falling.
Is there any trader/jijo in this forum who has not sold off up till now?
Abeg no ring the bell o.prices must drop.
CASH IS KING..........DANCING AZONTO

...and you have said it all yesterday, that has been CP preaching all while but pple looking for all round year bull movement

selling few week ago can buy you more unit of same share right now with same capital

Coolcash1:



Like I said, follow the money....

Yours truly on queue to grab my copy too....

Na this kind food we go dey chop now until the coast is cleared.
some kobo kobo stocks like prestige,royalex etc will be throwing 10-15% for jijoists.

Dear Esteemed Client,
 
The press release today titled “CBN bars banks with huge bad loans from paying dividends” is envisaged to lead to anxiety within the banking space in the Nigerian bourse.
 
The press release refers to a circular by the CBN on the 31st January 2018 titled “RE: INTERNAL CAPITAL GENERATION AND DIVIDEND PAYOUT RATIO”, which is an addition/amendment to the first circular issued on the 8th of October 2014. The only addition/amendment states that “DMBs and DHs that have capital adequacy ratios of at least 3% above the minimum requirement, CRR of “Low” and NPL ratio of more than 5% but less than 10%, shall have dividend pay-out ratio of not more than 75% of profit after tax.” Prior to this, the “DMBs and DHs that meet the minimum capital adequacy ratio but have a CRR of “Above Average” or an NPL ratio of more than 5% but less than 10% shall have dividend pay-out ratio of not more than 30%.”
 
While investors may be inclined to make uncalculated investment decisions, it is pertinent to note that the any negative effect of this circular has been considered in our analysis. However, the circular may put some banks in a better position to pay dividend.
 
 
Indicators
ACCESS
FBNH
GUARANTY
ZENITHBANK
UBA
ETI
DIAMOND
STERLN
FIDELITY
UBN
FCMB
STANBIC
WEMABANK (6M)
NPL
2.50%
20.10%
3.90%
4.20%
4.20%
9.60%
9.50%
6.12%
5.90%
9.14%
4.70%
7.20%
4.91%
CAR
20.50%
17.20%
22.90%
22.20%
19.00%
25.60%
15.80%
11.40%
17.30%
N/A
17.40%
21.80%
12.74%
Minimum Requirement (CAR)
15%
15%
15%
15%
15%
15%
10%
10%
10%
10%
10%
10%
10%
 
 
 
 
*Data is as at 9M2017 save for WEMABANK
 
For FBNH and STANBIC, we note that they operate a holding structure and this restricts the regulation to only the bank subsidiary. Hence, the companies still have the capacity to pay as much as they can from their other subsidiaries, in a bid to maintain their dividend paying culture.
 
For Ecobank Transnational Incorporation (ETI), Diamond and Fidelity bank, this may be good news for them as they all have a CAR which is 3% above their regulatory minimum. Hence, if these banks have a CRR of “Low” their pay-out ratio can now be up to 75% instead of being restricted to 30%.
 
However, for Sterling bank, the status quo remains with the bank restricted to a dividend pay-out ratio of 30%.
 
 
Kindly find attached the circulars issued.
 
Regards,

locodemy:


What of the drop in both revenue and PAT as the audited result will soon be released?
Fcmb will be facing double issues very soon and I see the price dropping the more.
Q1 will bring the bank to its foot.I will take position before Q1 result.......

After?