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onegentleguy:


Yet another one from Mr Emiefula and crew !!

The shift...
There shall be merits and demerits with this new directive from the CBN.
Time to adjust, re-adjust, realign and quite possibly avoid certain coys.

In the banking sector, its time to weigh up risk assets benchmarked against loans for those whose liquidity weighting has been more loan driven, and earnings margin against asset quility and yield for those that have been largely investment driven.
Banks with higher NPL, lower CAR(from the aftermath of IFRS 9 implementation), higher CoF, lower Net Margin, ROAE and EM should be avoided. ...FBNH, UBN and UNITY readily comes to mind.
In contrast, I believe that ZENITH, FCMB, ACCESS, UBA, FIDELITY and GTB are the most favorably placed banks to withstand the consequence of this new directive.

Elsewhere, its going to be a new line of positive for some coys in certain sectors.
The FMCGs, OIL and GAS and to a lesser extent real estate. The INSURANCE sector will also indirectly reap from this.
With the 1st aforementioned sector, I like DS and FMN... but that's just me.

It is well.

Zenith loan to deposit ratio is just too low. 42% as at December 2018, meaning they need to give out loans in trillions before September. Access q1 2019 shows 52%(also lower than the threshold) Gtb full year 2018 stands at 56%. Fbnh stands below 50%.

But its not all bad for them all. Fidelity has 79% loan to deposit ratio. Fcmb equally has no problem in this regard.

In as much as I want to commend the CBN for a desire to improve liquidity and loan to the private sector, I also think they are too irresponsible in their approach.
Banks would always want to give out loans as long as they can easily be recovered. Loans actually give greater returns to banks than the government securities. But unfortunately, banks face greater risk from NPLs and high cost of time and money in recovering these loans.
If only the CBN can pursue policies that ease the process of loan recoveries, I believe banks would be encouraged to give out loans. Anything other than this would spell danger to banks from huge NPLs. Remember, many Nigerian investors collect loans with no plans to repay them.

EazyGiant:
The wise ones are mopping up solid dividend paying stocks like Zenith . If u buy Zenith at 19.1 and they pay 2.8 as dividend, u will earn more than[b] 20% in dividends[/b] . This is better than treasury bills . This is no recommendation ... Due diligence as always

Looking at the bolded, its like you were the best Maths student in your set with A1 in both Maths and Further Maths/Add Maths.

onegentleguy:


Yet another one from Mr Emiefula and crew !!

The shift...
There shall be merits and demerits with this new directive from the CBN.
Time to adjust, re-adjust, realign and quite possibly avoid certain coys.

In the banking sector, its time to weigh up risk assets benchmarked against loans for those whose liquidity weighting has been more loan driven, and earnings margin against asset quility and yield for those that have been largely investment driven.
Banks with higher NPL, lower CAR(from the aftermath of IFRS 9 implementation), higher CoF, lower Net Margin, ROAE and EM should be avoided. ...FBNH, UBN and UNITY readily comes to mind.
In contrast, I believe that ZENITH, FCMB, ACCESS, UBA, FIDELITY and GTB are the most favorably placed banks to withstand the consequence of this new directive.

Elsewhere, its going to be a new line of positive for some coys in certain sectors.
The FMCGs, OIL and GAS and to a lesser extent real estate. The INSURANCE sector will also indirectly reap from this.
With the 1st aforementioned sector, I like DS and FMN... but that's just me.

It is well.

It is also a positive for Equity market in general

as you can be rest assured some of new lending would find its way to d market

basically i see d funds flowing in two major direction of Equity and Real Estate because both are currently distressed assets

Has MC stopped placing of order btw 9:30 to 9:45 am?

Mpeace:
Zenith loan to deposit ratio is just too low. 42% as at December 2018, meaning they need to give out loans in trillions before September. Access q1 2019 shows 52%(also lower than the threshold) Gtb full year 2018 stands at 56%. Fbnh stands below 50%.

But its not all bad for them all. Fidelity has 79% loan to deposit ratio. Fcmb equally has no problem in this regard.

In as much as I want to commend the CBN for a desire to improve liquidity and loan to the private sector, I also think they are too irresponsible in their approach.
Banks would always want to give out loans as long as they can easily be recovered. Loans actually give greater returns to banks than the government securities. But unfortunately, banks face greater risk from NPLs and high cost of time and money in recovering these loans.
If only the CBN can pursue policies that ease the process of loan recoveries, I believe banks would be encouraged to give out loans. Anything other than this would spell danger to banks from huge NPLs. Remember, many Nigerian investors collect loans with no plans to repay them.

Fidelity stands out as the bank to be least affected.
There is a high possibility of a reduction in profit of some of the tie 1 banks most especially zenith.
It might be time to reduce exposure to banking stocks as i see the policy hurting some of them.
Banks will rather allow CBN to have their capital than giving out unnecessary loan.

Jejebabaa:
Has MC stopped placing of order btw 9:30 to 9:45 am?

It's still on course. Itrade connection to NSE just wan fumble this morning ni.
I learnt they're working on it and would soon be back.

Mcy56:

It's still on course. Itrade connection to NSE just wan fumble this morning ni.
I learnt they're working on it and would soon be back.

Thanks madam for this update. Na now wey UBA don dey reach my tartget den don start to fumble.

pluto09:



Fidelity stands out as the bank to be least affected.
There is a high possibility of a reduction in profit of some of the tie 1 banks most especially zenith.
It might be time to reduce exposure to banking stocks as i see the policy hurting some of them.
Banks will rather allow CBN to have their capital than giving out unnecessary loan.

or even in d alternative shed costly deposit (since its a ratio of loan to deposit) to meet the ratio instead of engaging in risky lending that would eventually shoot their NPL up

Northeastern:
Is there something not to like about her? I mean she's a darling. Hope you know she's got billions, so woundjurement wouldn't do her a thing.

What a wonderful comment! Deepsuk I'm jealous o.
You're right. Billionaires have got nothing to worry about when it comes to finances.

Jejebabaa:
Thanks madam for this update. Na now wey UBA don dey reach my tartget den don start to fumble.

Lol. Dem go wait for you sir. When they no wan lose billionaire customer.

Which time is Airtel listing today?

DAILY STOCK MARKET GUIDE FOR 4 JULY 2019

Market is still looking for support. All indication is telling us to still be very selective as many equities are indicating minimal future upward movement. Support at 28854.05 is still okay.

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)

Flour Mills Reveals Reason for Delay in Filing Year-End Results
https://businesspost.ng/2019/07/04/flour-mills-reveals-reason-for-delay-in-filing-year-end-results/

CBN Crashes 182-Day, 364-Day Stops Rates at PMA
https://businesspost.ng/2019/07/04/cbn-crashes-182-day-364-day-stops-rates-at-pma/

pluto09:



Fidelity stands out as the bank to be least affected.
There is a high possibility of a reduction in profit of some of the tie 1 banks most especially zenith.
It might be time to reduce exposure to banking stocks as i see the policy hurting some of them.
Banks will rather allow CBN to have their capital than giving out unnecessary loan.

U are looking at the factor of loan to deposit in isolation. ...it's best to consider other KEY asset risk and quality impacting factors including the ones I mentioned in the post above as a COLLECTIVE.
When u do this, u'd see that even the fidelity(though also great) u mentioned is no better than ACCESS, FCMB and GTB along the said policy impact line.

On the 1st part in italics, it would be better to rephrase it as; "It might be time to reduce exposure on banking stocks whose financials are of the least absorbers to the likely impact of the policy." ...I have mentioned 3 of those ealier.
Like I said ealier, the 6 of ACCESS, FCMB, ZENITH, UBA, FIDELITY and GTB are presently well positioned to absorb any likely impact from the new policy.
On the part in bold, am more inclined to agreeing with u though.

Salah.

robobo:

or even in d alternative shed costly deposit (since its a ratio of loan to deposit) to meet the ratio instead of engaging in risky lending that would eventually shoot their NPL up

Absolutely !!
So either way, the banks would still manoeuvre their way around this. They always do... the efficient ones though.
The KEY is to permute from the great ones when making choices.

Regards.

Mcy56:

Lol. Dem go wait for you sir. When they no wan lose billionaire customer.

Ok, u meant billionaire VE bolivars which is just 94,737 Naira. Issorite.

yok:
DAILY STOCK MARKET GUIDE FOR 4 JULY 2019 Support at 28854.05 is still okay.

Hmmm, Almost all the banking stocks in stage 4. Zenith's own is understandable.

Hope I'm not the only one experiencing this currently.

proflomo:
Hope I'm not the only one experiencing this currently.

No you're not.

Mcy56:

No you're not.

Na wa o.
Shey Chams no go leave me go like this.

proflomo:
Na wa o. Shey Chams no go leave me go like this.

Lol. Una get appointment to visit somewhere or you wan charm somebody?

It's still on offer anyway, over 2.5M offer and 1.4M bids

Mcy56:

Lol. Una get appointment to visit somewhere or you wan charm somebody?

It's still on offer anyway, over 2.5M offer and 1.4M bids

Both o my sister.

Mcy56:

Lol. Una get appointment to visit somewhere or you wan charm somebody?

It's still on offer anyway, over 2.5M offer and 1.4M bids

At 28k? I need to get it at N.28 or even lower.

proflomo:
At 28k? I need to get it at N.28 or even lower.

A single bid of 500k at 28kobo and 900k bids at 26kobo ......at the moment.
Offers: 624k @ 29kobo and 1.9M at 30kobo.
Maybe you'll have to watch it first before jumping in....except you've got a privileged info.

proflomo:
Hope I'm not the only one experiencing this currently.

You aren't alone on this.
Morgan may spoil one's day today.

Mcy56:

A single bid of 500k at 28kobo and 900k bids at 26kobo ......at the moment.
Offers: 624k @ 29kobo and 1.9M at 30kobo.

.

Thank you very much our good sister in the house.

But why today of all daygs?
Today that I planned to just gain back a bit of what I have lost so far.
O high o.

proflomo:
But why today of all daygs? Today that I planned to just gain back a bit of what I have lost so far.
O high o.

Maybe its for a reason.

Stcool how is Chams doing now? I hope you have accumulated enough before it sails to N1?

Keep up the good work.

NSE generally is a reflection of the govt we have today. Do not expect much.