yom2:
meanwhile have they listed the additional shares from diamond and computed in his result?

Yes, they have done that, their shares was around 29 Billion before the merger, now is 35.5billion shares

phemmie06:

How did you go about the share exchange sir? Mine is yet to reflect in my portfolio.

After submitting the form , my broker swapped the Diamond with Access in my portfolio.

longlife20:
http://www.nse.com.ng/Financial_NewsDocs/25810_ZENITH_BANK_PLC_FINANCIAL_STATEMENTS_APRIL_2019.pdf

Not too fantastic, diff of 3billion with last yr figures PAT

swilo:


Thanks

Thank God. This is the site ... for those that care. Go there and pasture.

https://www.nairaland.com/3560501/holineness-righteousness-revival-daily-messages

OBAGADAFFI:



After submitting the form , my broker swapped the Diamond with Access in my portfolio.

OK thank you sir, is it the Diamond Bank share mandate form? If it is I submitted mine as well received acknowledge mail from united securities but my portfolio still carry diamond.

The past few days has seen me receive a handful of mails over the 2018 FP of FIRST BANK. ...with quite a few of those asking of my opinion on whether its a good buy.
Well, without giving a clear cut answer to that, I'd prefer to highlight a few noticeable worries and allow folks 'to have the last word' with their decision-making.

A brief:

-The bank made a huge loan write-off of over 180B, yet saw its NPL expand above 1350bps from approx 22.5% in 2017 to near 26% in 2018. ...this is not a good sign.
With key loans in its book including a 24B exposure to etisalat, and over 4.5x that amount to Atlantic energy, a near 41% of the total write-off figure can not be accounted for within the spheres of its published result. ...now that calls for some serious concern.
Again, I am worried about the banks qualifying capital in proportion to its loan. With CAR contracting by well over 270bps to ~17.2% despite the forbearance from the CBN over the full implementation of IFRS 9 in that line.
...but for that forbearance, CAR as at FY 2018 would've printed far lower(a deceleration of near 400bps to ~10.6%) from the banks 2017 print. ...a figure, so NOT befitting of the banks international status.
The interpretation of this is that 1st banks risk asset measured against its loan remains clearly UNHEALTHY.
The banks RE position also cast some measure of doubt over its ability to maintain or up its current low dividend pay out in the mid term, following an over 97% drop from near 170B in 2017 to just 4.4B in 2018. ...this is even more so given that the banks statutory reserve also declined by near 43B, feeling the heat from the new guide on reporting standard.
-On the profitability front, earnings from running the bank(operating income) actually went down YoY(by ~700bps) and QoQ(~250bps) behind an over 14% cut down in deriavable/net interest income. ...with PAT MARGIN mainly driven by an over 40% YoY or approx 54% QoQ drop in loan loss provision.
Discount that, and u'll see that the bank was only able to deliver a meagre ~24k deriavable earnings(EPS) to its shareholders in Q4 2018.
- Elsewhere, a combination of a higher interest expense and increased CoF(cost of fund) @~881bps and 340bps respectively, on the back of a ~750bps YoY drop in interest income line, ensured that the banks asset quality and yield contracted. ...with the latter pressured down by over 11%.
I am also less impressed with the print accross its key revenue and earnings line. ...particularly their ROAE, ROAA, EBITDA MARGIN, REVENUE MARGIN and EM.
Sure there are a few positives. But these cons are not to be taken lightly.

My verdict: The bank is still struggling with a combination of weak and bad assets which has ensured a strongly difficult route for a clear growth trajectory.
...with efficiency ratios suggestive of a less than impressive performance in both their loan driven front and that of their investment channels.
FIRST BANK should have a place in the portfolio of only those with long term investment horizon. ...but clearly not dividend growth investors.
That said, the estimated beta value of the bank @ well above unity(1) and the industrial average shows that sentiment is still tilted on the side of a healthy patronage(vol).
In contrast though, it does appear that the 'belief system' on the part of investors has been quite weak. This is even more true considering that the coys equity price has stayed solidly below its 50 sma in the short-mid term, while its 200 sma prints even much higher. ...referencing a clear reservation on the part of retail investors and an indifferent/weak romance/belief on the part of FMs, FPIs and DPIs.
With FBNH therefore, caution should be the watch word !!

From where am standing, its relative 1st tier peers, UBA and ACCESS @ current mkt prices presents a clearer and greater MoS deriavable value to tap from, and so remains better options ahead of 1st bank.

NOTE: This piece is strictly on the premise to aide with striking the RIGHT balance between the pros and cons of 1st banks 2018 FP. ...It should therefore not be infered as any sought of recommendation.

My advise: Pls follow ur instinct.

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You want to receive money from friends and family in China without stress use Wechat pay or Alipay (no bank wahala, no western union problem, no money gram issue)
Your money will be paid directly into your Bank Account. Wechat pay and Alipay is here to make the transaction more convenient.


Check my signature for more......

phemmie06:

OK thank you sir, is it the Diamond Bank share mandate form? If it is I submitted mine as well received acknowledge mail from united securities but my portfolio still carry diamond.

Yes, it is Diamond Bank share mandate form.

Your broker did not update your portfolio, request for your CSCS statement.

Your CSCS should contain information directly from the Exchange.

DAILY STOCK MARKET GUIDE FOR 17 APRIL 2019

MSCI Nigeria on 16 April 2019 continue with buying Sterling, NBL, ETI, Guinness and selling Access just as it happened on 15th April. Bulls becoming more entrenched in the market, there may be resistance at 30,177.02. Support at 29,662.09 is very strong and likely to keep the bears at bay for quite some time.

Today, bulls still favored. Oil Price, earnings expectation, negative news about Nigeria now minimal.

One of our stock picks is Transcorp, good to buy at current price.

If you have not visited our twitter page your are missing a lot. 70% of our full report is on twitter today.

Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). This document remains the personal property of Target technical analysis (https://twitter.com/AnalysisTarget) and is not to be distributed without our authorization.

phemmie06:

How did you go about the share exchange sir? Mine is yet to reflect in my portfolio.

The equivalent proportion of ACCESS bank shares has since been credited to the CSCS A/C of all shareholders of DIAMOND bank who qualified for the merger.
Just compute what ur equivalent ACCESS shares will be by multiplying the volume of DIAMOND bank shares u held on the sanction date by 2 and dividing by 7.
To illustrate;
Assuming u held 70,000 unit of DIAMOND on sanction date, then ur equivalent of ACCESS will be 70,000 x 2/7= 20,000.
...and where there's a decimal fraction of less 0.5, just ignore by approximating to the nearest real integer.
Then call ur broker and ask them to credit ur in-house A/C with ur estimated equivalent vol of ACCESS bank.

But if u desire to sell off now, just compute what equivalent vol of ACCESS u should get, and call/mail ur broker to effect a sell mandate using that figure.
Alternatively, u can simply go to the NSE premium board and trade the ACCESS bank security to effect a sell on the estimated vol u hold, if u have an online trading A/C.
In both cases, though what u might see in ur in-house portfolio is the DIAMOND bank shares u held on sanction date, u will still be able to effect a sell off of the corresponding equivalent vol of ACCESS bank that's due to u.
So u do not necessarily need to call ur broker if u wish to sell ur ACCESS security now. ...but u may wish to do so if u desire to hold but just want it reflected in ur in-house A/C.

As for N1 cash consideration, u simply need to accurately fill out the form(specifically designed for that purpose) by supplying the same exact identification details with ur broker and ur bank, and follow up with the registrars.
...and u'll get the cash remitted to ur bank A/C.

Hope its clearer now.

OBAGADAFFI:

Yes, it is Diamond Bank share mandate form.
Your broker did not update your portfolio, request for your CSCS statement.
Your CSCS should contain information directly from the Exchange.

Thanks so much boss

onegentleguy:


The equivalent proportion of ACCESS bank shares has since been credited to the CSCS A/C of all shareholders of DIAMOND bank who qualified for the merger.
Just compute what ur equivalent ACCESS shares will be by multiplying the volume of DIAMOND bank shares u held on the sanction date by 2 and dividing by 7.
To illustrate;
Assuming u held 70,000 unit of DIAMOND on sanction date, then ur equivalent of ACCESS will be 70,000 x 2/7= 20,000.
...and where there's a decimal fraction of less 0.5, just ignore by approximating to the nearest real integer.
Then call ur broker and ask them to credit ur in-house A/C with ur estimated equivalent vol of ACCESS bank.

But if u desire to sell off now, just compute what equivalent vol of ACCESS u should get, and call/mail ur broker to effect a sell mandate using that figure.
Alternatively, u can simply go to the NSE premium board and trade the ACCESS bank security to effect a sell on the estimated vol u hold, if u have an online trading A/C.
In both cases, though what u might see in ur in-house portfolio is the DIAMOND bank shares u held on sanction date, u will still be able to effect a sell off of the corresponding equivalent vol of ACCESS bank that's due to u.
So u do not necessarily need to call ur broker if u wish to sell ur ACCESS security now. ...but u may wish to do so if u desire to hold but just want it reflected in ur in-house A/C.

As for N1 cash consideration, u simply need to accurately fill out the form(specifically designed for that purpose) by supplying the same exact identification details with ur broker and ur bank, and follow up with the registrars.
...and u'll get the cash remitted to ur bank A/C.

Hope its clearer now.

I appreciate you sir

onegentleguy:


The equivalent proportion of ACCESS bank shares has since been credited to the CSCS A/C of all shareholders of DIAMOND bank who qualified for the merger.
Just compute what ur equivalent ACCESS shares will be by multiplying the volume of DIAMOND bank shares u held on the sanction date by 2 and dividing by 7.
To illustrate;
Assuming u held 70,000 unit of DIAMOND on sanction date, then ur equivalent of ACCESS will be 70,000 x 2/7= 20,000.
...and where there's a decimal fraction of less 0.5, just ignore by approximating to the nearest real integer.
Then call ur broker and ask them to credit ur in-house A/C with ur estimated equivalent vol of ACCESS bank.

But if u desire to sell off now, just compute what equivalent vol of ACCESS u should get, and call/mail ur broker to effect a sell mandate using that figure.
Alternatively, u can simply go to the NSE premium board and trade the ACCESS bank security to effect a sell on the estimated vol u hold, if u have an online trading A/C.
In both cases, though what u might see in ur in-house portfolio is the DIAMOND bank shares u held on sanction date, u will still be able to effect a sell off of the corresponding equivalent vol of ACCESS bank that's due to u.
So u do not necessarily need to call ur broker if u wish to sell ur ACCESS security now. ...but u may wish to do so if u desire to hold but just want it reflected in ur in-house A/C.

As for N1 cash consideration, u simply need to accurately fill out the form(specifically designed for that purpose) by supplying the same exact identification details with ur broker and ur bank, and follow up with the registrars.
...and u'll get the cash remitted to ur bank A/C.

Hope its clearer now.

Have you received your N1 cash consideration?

yok:
DAILY STOCK MARKET GUIDE FOR 17 APRIL 2019

MSCI Nigeria on 16 April 2019 continue with buying Sterling, NBL, ETI, Guinness and selling Access just as it happened on 15th April. Bulls becoming more entrenched in the market, there may be resistance at 30,177.02. Support at 29,662.09 is very strong and likely to keep the bears at bay for quite some time.

Today, bulls still favored. Oil Price, earnings expectation, negative news about Nigeria now minimal.

One of our stock picks is Transcorp, good to buy at current price.

If you have not visited our twitter page your are missing a lot. 70% of our full report is on twitter today.

Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan). This document remains the personal property of Target technical analysis (https://twitter.com/AnalysisTarget) and is not to be distributed without our authorization.

Nice one... Please, do more health checks on the ASI...

@onegentleguy, were you formerly a teacher or lecturer? if true, that means your students go hear am for note

On a serious note, you are down to earth, keep it on.

FIRST ALUMINIUM NIGERIA PLC

Gurus, pls based on access q1 result, what is the fair price ?

OBAGADAFFI:
FIRST ALUMINIUM NIGERIA PLC

What's happening there? My SA radar is averse to it.

OBAGADAFFI:
FIRST ALUMINIUM NIGERIA PLC

I did not notice that one on time, the meat has escaped through the hunters eyes

Access on Bid. Hope it will extend to other banking stock?

...

Access Bank is on fire this morining!![color=#990000][/color]

Deadlytruth:

What's happening there? My SA radar is averse to it.

FIRST ALUMINIUM NIGERIA PLC is delisting with N0.55k cash consideration .

The current price is N0.38.

phemmie06:

Thanks so much boss

swilo:


Thanks. Been a while Bro... Cheers!!

kolaish:
@onegentleguy, were you formerly a teacher or lecturer? if true, that means your students go hear am for note

On a serious note, you are down to earth, keep it on.

My Pleasure !!

Mcy56:


https://www.sunnewsonline.com/first-aluminium-to-delist-from-stock-exchange/?utm_medium=Email&utm_source=Zenter-System&utm_campaign=%2318148+%3D%3E+MORNING+NEWS+HEADLINES+&utm_content=91703c13d2a63a3ec463db5ebbebfe405601c186

It is a good deal, if you understand.

.

Mcy56:

Did I say anything negative again? I received the info before now anyway.

Of Course, it is not new, if the price hit N0.60 it better so sell than wait for the cash consideration.

longlife20:
http://www.nse.com.ng/Financial_NewsDocs/25810_ZENITH_BANK_PLC_FINANCIAL_STATEMENTS_APRIL_2019.pdf

Impressive Nos from ZENITH !!
...With a clear appreciable growth accross KEY deriavable revenue and earnings line.

But then again, a good wine needs no bush !!
We are friends with time.
It is well.

onegentleguy:


Impressive Nos from ZENITH !!
...With clear appreciable growth accross KEY deriavable revenue and earnings line.

But then again, a good wine needs no bush !!
We are friends with time.
It is well.

My problem is the market response to Zenith results.

diamond 1naira haved entered. Pls i thought Cham was marked down today?

EKUU MKT O

edwardaigb:
diamond 1naira haved entered. Pls i thought Cham was marked down today?

no,the qualification day is today,it will be mark down tomorrow .