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Nigerian Stock Exchange Market Pick Alerts - Investment (5968) - Nairaland

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Re: Nigerian Stock Exchange Market Pick Alerts by ositadima1(m): 11:33am On Sep 08, 2020
onegentleguy:


U see where ACCESS is? wink cheesy grin

It's not too good that even FBNH(a bank which was just coming off from a very troubled state under previous management) is even ahead of UBA.
Maybe that of STANBIC is even more understandable given the huge benefits accrued from their cash cow(asset management arm in view) but not FBNH naw !!

For the record, I also hold some UBA, but the TRUTH must be told.

It is well.

Pardon my ignorance, but I don't really get what d fuzz is about. The major banking stocks have delivered similar growth patterns historically. If you overlay their charts you did see that they follow similar trajectories.

My point is, I would have made about same return whether I choose zenith, gtb, access or UBA. The only problem here is proper entry and exit point. I chose Zenith because of its higher dividend, GTB also good. Anyway, I be newbie sha.

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by Willie2015: 11:33am On Sep 08, 2020
BrokerHaruna:
Guinness will shock many investors. Of all the companies in the sector, Guinness is the leader in the spirit segment which has tremendous upside. The company has very strong fundamentals and is backed by Diageo, the biggest player in the global space

Am not a fan of investing
in the brewery sector...
In dis challengin period ...
While I agree with Guinness is a leader in the spirit segment....
D tremendous upside may actually be a mirage....
Cos of the 14% increase in excise duties to ₦20/l for Spirits ....
Another factor is also the dwindlin consumer disposable income....
Plus the current tight credit policy stance...
Which will affect sales revenue....
Its a long, tough and rough road ahead for Guinness investor...

2 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by ojesymsym: 11:41am On Sep 08, 2020
I though more people try to drink away their sorrows when depressed and have no money, has the economy made more people repent?

Willie2015:


Am not a fan of investing
in the brewery sector...
In dis challengin period ...
While I agree with Guinness is a leader in the spirit segment....
D tremendous upside may actually be a mirage....
Cos of the 14% increase in excise duties to ₦20/l for Spirits ....
Another factor is also the dwindlin consumer disposable income....
Plus the current tight credit policy stance...
Which will affect sales revenue....
Its a long, tough and rough road ahead for Guinness investor...
Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 11:42am On Sep 08, 2020
ositadima1:


Pardon my ignorance, but I don't really get what d fuzz is about. The major banking stocks have delivered similar growth patterns historically. If you overlay their charts you did see that they follow similar trajectories.

My point is, I would have made about same return whether I choose zenith, gtb, access or UBA. The only problem here is proper entry and exit point. I chose Zenith because of its higher dividend, GTB also good. Anyway, I be newbie sha.


I understand if their TA is saying a different thing, but pls be reminded that the discussions we've so far had on both banks has been strictly based on FUNDAMENTALS.
We are talking about the current state of health of both banks,(FA) and NOT what or how the price of the assets behave with respect to vol.(TA) wink cheesy grin

Regards
Re: Nigerian Stock Exchange Market Pick Alerts by DexterousOne(m): 11:42am On Sep 08, 2020
Willie2015:


Am not a fan of investing
in the brewery sector...
In dis challengin period ...
While I agree with Guinness is a leader in the spirit segment....
D tremendous upside may actually be a mirage....
Cos of the 14% increase in excise duties to ₦20/l for Spirits ....
Another factor is also the dwindlin consumer disposable income....
Plus the current tight credit policy stance...
Which will affect sales revenue....
Its a long, tough and rough road ahead for Guinness investor...

But in the long term (depending on your definition of long term )

Guiness will come up tops

I know it!

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by Nobody: 11:43am On Sep 08, 2020
Thanks for the insight...

You all are wonderful...

It's now evident that you have to throw in major funds and reduce any risk of bearish outcome to the very minimal... I don't want to include the mental stress and critical analysis involved to keep you all afloat.

Speaking of game of numbers (units)... If 0.50 kobo profit can turn into millions, how about a #2 naira loss... Do you hold your position for almost forever or you cut your loss and move on... Even if you have a sniper effect entry you're never too sure of the outcome overtime... Your risk tolerance must be above the roof.

I salute you all... NAH MAHN UNAH BE!

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by CashDiMkpa: 11:49am On Sep 08, 2020
ositadima1:


If u be average investor, u go old or even die put while wating for ur investment to be large enough to yield such millions at 1.7% return.

Don't you know the difference between interim and final dividend yields?
Re: Nigerian Stock Exchange Market Pick Alerts by ositadima1(m): 11:58am On Sep 08, 2020
CashDiMkpa:


Don't you know the difference between interim and final dividend yields?

Lol, Oga o. It's kind of funny when people quote returns in hundreds of millions or even billions without mentioning the sort of capital needed to get those. I hope you know that to return 300 millions at 40% ROI requires substantial amounts of bread talk less of 1.7% . Just saying bro.

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 12:08pm On Sep 08, 2020
......
Re: Nigerian Stock Exchange Market Pick Alerts by RabbiDoracle: 12:13pm On Sep 08, 2020
onegentleguy:




By implication, of what use is UBA' higher growth in NIM if NPM went down?
We already know they had it good in that line(core banking). I mentioned it here then(see 1st post above)
But after that what happened? NIM is just one part of a banks profitability line. What does the other KEY indicators like NPM, EM, ROE, ROA, AER(asset efficiency ratio), CGPR, EFIR(external financing index ratio), PEG ratio and ETERPRISE VALUE say?

At the time I wrote that article above, this was also one of the issue that UBA had.(delivering higher NIM without a corresponding improvement in NPM). Fast forward to YE, 2019 and Q1, 2020, and they did improve on it. The bank had the best loan book portfolio ahead of even GTB and ZENITH and was well weighted in its investment streams.(I remember mentioning it over a pchat with u then) And after that? ...well, the parts in bold from 2nd post above happened.

Historically,(look at the past 10 yr financial prints), UBA has often had this off and on growth. The bank, given its pedigree and African spread, ought to have moved past this stage.
That bank is supposed to be way bigger than ACCESS and near the class of GTB and ZENITH by now.
2 things; its either the management haven't managed to set up an entity that can maintain the needed growth trajectory.(inflow to outflow/expense in view) or there are some persons playing occasional pranks.

With all the net positive at the income front, the banks still couldn't maintain its last growth track. Look at the statement of CF and u'll understand what played out bro.
Some of items I've noticed in UBA recently, are a bit similar to the ones that played out with the gross mismanagement of funds in FBNH under the former GMD.


There is no doubting the fact that ACCESS is better than UBA for now !! All key profitability, efficiency, growth indicators points to this.
And the statement of CF and BS lends even more credence to to it.

I'll see if I can erk out the time to do an article on this later.

Cheers bro !!

In this context, the two banks considered are commercial banks and not investment banks. So I expect more of net Interest income than net trading in them.

Do you know that investors will wonder and ask questions on the reduce net interest income (for Access bank) to know if there is any issue with the loan books? If there is any issue, how bad is it? How are the provisions going to be? Did they make lower provision for losses which in turn made the PAT look good? These are the questions that can arise from just seeing that lower net interest income.

Investors can ask questions on non-core items but it will not be like the core items. Core item is the life of the bank. Just like Japaul having gross profit of less than N1b in its core operations but declaring N42b in non-core profit. Wetin be that? That tells you that the Japaul can't function after that one off gains.

Now back to UBA, investors will not ask questions on the core function because they can see growth even during this pandemic. However they will ask questions about the 'other expenses'. And you will agree with me that those other expenses can be easily controlled. Like the covid donations, it is within the management prerogative not to donate and if they don't, this adds to the PAT. So you will see that while management can control this line items, but you can't easily control current loan losses.

So if you see decline in Net interest income as nothing, bro, it is a big deal o. This means that some of the loans aren't performing.

10 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by heavenisreal18: 12:20pm On Sep 08, 2020
Good afternoon, pls is rice farming investment real, is it worth investing on.
Re: Nigerian Stock Exchange Market Pick Alerts by CashDiMkpa: 12:25pm On Sep 08, 2020
Re: Nigerian Stock Exchange Market Pick Alerts by CashDiMkpa: 12:29pm On Sep 08, 2020
heavenisreal18:
Good afternoon, pls is rice farming investment real, is it worth investing on.

It depends on the type of investment. Do you want to crop and harvest yourself/in partnership with others or do you want to give to e-farmers that are on the prowl all over social media?
Re: Nigerian Stock Exchange Market Pick Alerts by veecovee: 12:36pm On Sep 08, 2020
Somebody help me with access qualification date pls?
Re: Nigerian Stock Exchange Market Pick Alerts by robobo: 12:38pm On Sep 08, 2020
RabbiDoracle:


In this context, the two banks considered are commercial banks and not investment banks. So I expect more of net Interest income than net trading in them.

Do you know that investors will wonder and ask questions on the reduce net interest income (for Access bank) to know if there is any issue with the loan books? If there is any issue, how bad is it? How are the provisions going to be? Did they make lower provision for losses which in turn made the PAT look good? These are the questions that can arise from just seeing that lower net interest income.

Investors can ask questions on non-core items but it will not be like the core items. Core item is the life of the bank. Just like Japaul having gross profit of less than N1b in its core operations but declaring N42b in non-core profit. Wetin be that? That tells you that the Japaul can't function after that one off gains.

Now back to UBA, investors will not ask questions on the core function because they can see growth even during this pandemic. However they will ask questions about the 'other expenses'. And you will agree with me that those other expenses can be easily controlled. Like the covid donations, it is within the management prerogative not to donate and if they don't, this adds to the PAT. So you will see that while management can control this line items, but you can't easily control current loan losses.

So if you see decline in Net interest income as nothing, bro, it is a big deal o. This means that some of the loans aren't performing.


let me contribute to the discussion cos i like d intellectual bent of it and i have picked some salient points from both perspectives

my scan reading of UBA half year showed that the spike in expenses where largely form 2 expense line employee benefit (increase of 7b) and other opex (14b increase) which in total give 21b. The employee benefit spike i am sure wld largely be associated with the January 2020 mass realignment of its workforce (severance pay likely) hence shld be one off and also bring some future savings. while further dissecting of other opex showed that the spike on this line was caused by spike in donation (of 4.7b); spike in contract services ( increase of 4.8b) and amcon levy (increase of 2.5b). now speaking to each of this sub head: donations should be one off, contract services i wldnt know d cause but my guess is also January workforce realignment, while amcon levy is regulatory.

Summary of above is that the spike in expense which was the cause of decline in PAT are largely one off (except for amcon levy).

3 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by pluto09(m): 12:42pm On Sep 08, 2020
Mcy56:

You got it wrong. Let me answer in my own newbie way and with newbie's experience. grin
** You don't have to throw in major fund. Cultivating investment habit is number one goal you achieve here. You can even start as little 10k or even 5,050 (Morgan's min startup) grin ...and keep growing your investment.
** Have investment objective and decide whether you want to be a trader or investor; which type of investor -whether short, medium or long termer.
** Dividend investors are the less stressful set of investors as far as I'm concerned.
** You don't invest and go to sleep anyway, like my ogas will say. You constantly monitor and do portfolio evaluation.
**As for the loss, just know this is market and prices may go up and down, only ensure you buy a good, fundamentally sound and dividend paying stock, if prices goes down, it goes up again and the cycle continues, if prices falls you chop dividend, if it goes up you chop price appreciation......Oga Oracle will say "if it doesn't poo, it will vomit".
** Again you don't invest and go to sleep. smiley

You can take time to go thru Pa Emmanuelewumi's posts for more insight.


The guy is most likely a trader who trades all kinds of financial instruments with leverages.
If someone is used to using $10 to chase $100 profits, explaining to him how stocks with 10% profits is good might be difficult.

4 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by Coolcash1: 12:46pm On Sep 08, 2020
Wapco gradually moving away from bargain hunters.

To hit N20 by December 2020.

Its a hold from me.

2 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by Princkez: 12:51pm On Sep 08, 2020
Coolcash1:
Wapco gradually moving away from bargain hunters.

To hit N20 by December 2020.
might get there before December

2 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by Chibuking81(m): 12:51pm On Sep 08, 2020
Mcy56:

Zenith leading.
Still wonder why the bank remains under-valued despite the fantastic Y-O-Y profit turnouts. Yet there's big margin btw it's share price and GTB. smiley
Only the traders needs Zenith bank stock price at this period to skyrocket, but we the dividend investors like its current price, even at lower level to keep on increasing our holding. People have talk more on Access and UBA, the way I choose Zenith ahead of GTB, Fidelity ahead of FCMB, I also choose UBA ahead of Access bank. But when any of the preferable bank management ideology changes the second one can take over the higher percentage side. The banks mentioned are all good for investment.

I love companies with good history of high percentage return on investment (ROI) at their final year result, in this 2020 it is very likely that UBA will by far have high percentage return earning at their market price than Access, many companies always have audio EPs, that's why the auditors in the field with knowledge of what is going on, some times find it difficult to buy stocks.

Stock like Ucap and Afriprudential from UBA family, can be seen or classified as being in almost the same level of EPs with likes of Fidelity, FCMB, Caverton. But they are not met when it come to return on investment, even at their higher price above the comparing stocks, the both two still maintain higher return earning. Which is what an investor is looking for.

Jim Ovia of Zenith bank, Tony Elumelu of UBA group, Aliko Dangote of Dangote group, believed in returning good percentage earning to their investors, it will be good if Herbert Wigwe of Access bank, J. K.O. Agbaje of GTB, Nnamdi Okonkwo of Fidelity bank and Ladi Balogun of FCMB, discuss with their member of the executives to increases the percentage pay in their final for their investors to have good percentage return on investment.

6 Likes 2 Shares

Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 12:52pm On Sep 08, 2020
Lancee did you see Zee?
Talking about tradition, think I was right here. grin
They will still come for it, but crashing the price first.

2 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 12:53pm On Sep 08, 2020
A good place to get more insights on areas of doubt is the Investor Conference call of companies. Access bank call details is below. When UBA call details are available i will share if i lay my hands on it. Lets ask the CEOs directly. No need to trade insults.

Zenith Bank Conference Call Details for H1 2020 Audited Results
Zenith Bank Plc (Bloomberg: ZENITHBA : NL) Management will hold a teleconference call on Wednesday, September 9th, 2020 at 2pm Lagos Time (2pm London/ 3pm Johannesburg/ 9am New York) to announce Zenith Bank Plc’s audited financial results for the half year ended June 30th, 2020. There will be an opportunity at the end of the call for management to take questions from investors and analysts.
The presentation to investors and analysts will be available on Zenith Bank’s website before the conference call on Wednesday, September 9th, 2020.
The teleconference call facility can be accessed by dialing:
Nigeria Toll: +234 1 903 0080
United Kingdom Toll: +44 3333 000 804
South Africa Toll: +27 21 672 4118
United States Toll: +1 631 913 1422
Then quoting the following access code: 99502256#

Access Bank Plc Conference Call
Access Bank Plc (“Access Bank” or the “Bank”) has released its audited report for the Half Year ended 30 June 2020. The accompanying Financial Statement and Press Release are available for download on the Investor Relations (“IR”) portal of the Bank’s Website.
We are pleased to invite you to join the audio conference call with the Bank’s Executive team. The details of the event are as follows:
• Date: Friday, September 11, 2020
• Time: 1400hrs Lagos (0900hrs New York, 1400hrs London, 1500hrs Johannesburg)
Click here to pre-register https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=6622053&linkSecurityString=8bc012605

A confirmation e-mail with the dial-in details will be sent to your registered e-mail as soon as the registration process is completed.
Ahead of the earnings call, the H1 2020 Investor Presentation will be available for download on the IR portal of the Bank’s website. Following the call, the transcript will be made available on the IR portal of the Bank’s website.

5 Likes

Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 12:53pm On Sep 08, 2020
pluto09:
The guy is most likely a trader who trades all kinds of financial instruments with leverages.
If someone is used to using $10 to chase $100 profits, explaining to him how stocks with 10% profits is good might be difficult.
Thanks bros.
You're right. I just wasted my time replying him... grin

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by Zagee: 12:54pm On Sep 08, 2020
Willie2015:


Am not a fan of investing
in the brewery sector...
In dis challengin period ...
While I agree with Guinness is a leader in the spirit segment....
D tremendous upside may actually be a mirage....
Cos of the 14% increase in excise duties to ₦20/l for Spirits ....
Another factor is also the dwindlin consumer disposable income....
Plus the current tight credit policy stance...
Which will affect sales revenue....
Its a long, tough and rough road ahead for Guinness investor...
No doubt it's a long process to recovery.
Re: Nigerian Stock Exchange Market Pick Alerts by Zagee: 12:57pm On Sep 08, 2020
ojesymsym:
I though more people try to drink away their sorrows when depressed and have no money, has the economy made more people repent?

Yes, but with our present day economy, drinking is risky...
Re: Nigerian Stock Exchange Market Pick Alerts by lancee(m): 1:04pm On Sep 08, 2020
Mcy56:
Lancee did you see Zee?
Talking about tradition, think I was right here. grin
They will still come for it, but crashing the price first.


grin Yeah u were right ..Funny stock.. .No matter what even if it has the best result ..Tradition must be followed

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by onegentleguy: 1:08pm On Sep 08, 2020
RabbiDoracle:


In this context, the two banks considered are commercial banks and not investment banks. So I expect more of net Interest income than net trading in them.

Do you know that investors will wonder and ask questions on the reduce net interest income (for Access bank) to know if there is any issue with the loan books? If there is any issue, how bad is it? How are the provisions going to be? Did they make lower provision for losses which in turn made the PAT look good? These are the questions that can arise from just seeing that lower net interest income.

Investors can ask questions on non-core items but it will not be like the core items. Core item is the life of the bank. Just like Japaul having gross profit of less than N1b in its core operations but declaring N42b in non-core profit. Wetin be that? That tells you that the Japaul can't function after that one off gains.

Now back to UBA, investors will not ask questions on the core function because they can see growth even during this pandemic. However they will ask questions about the 'other expenses'. And you will agree with me that those other expenses can be easily controlled. Like the covid donations, it is within the management prerogative not to donate and if they don't, this adds to the PAT. So you will see that while management can control this line items, but you can't easily control current loan losses.

So if you see decline in Net interest income as nothing, bro, it is a big deal o. This means that some of the loans aren't performing.

On the 1st part in bold, would u write off the positive growth in a bank like STANBIC because they make more from investment driven activities via their asset management cash cow?
It doesn't matter how the growth come about !! ...the banks are there to grow and deliver value to their stakeholders.
That's why some adopted a holding company structure. More will likely adopt this stance in future(GTB already guided as such). The deficiencies and current difficulties in the Nigerian terrain makes it near impossible to rely only on core banking.

Again, pls never compare a banks modus operandi with that of a coy like JAPAUL. I need not remind u that a bank is 100x more likely to make money from their investment drive than a coy like JAPAUL could possibly witness a one-off investment gain, so there's really no basis for comparisons. wink cheesy grin

And bro, have u really taking an in-depth view of ACCESS banks financial print?
I hope u know that the lower print in YoY NII was broadly the result of an over 237% net impairment charge on financial assets. ...a large chunk of which,(over 80%) were allowances for the impairment of L&A(loans and advances), of investment securities and of off-balance sheet items.
But for these bookings,(a part of which will eventually be writing back considering the banks aggressive loan stance) ACCESS banks NII would've printed a 21.7% growth higher than the 8.6% from UBA, and its NIM would've also been better.

Again, note that UBA did not outperform ACCESS in all core banking lines. The latter did better in NFCI while UBA fared better in NII, the offshoot of its healthy loan book spread coming from Q1.(I mentioned it here then)
The pace though, at which the former did it with that NFCI was even faster(% growth in view) ...the only reason for the drop in NIM was the result of the points highlighted above.

This should answer to ur questions in bold and also give u an idea of which amongst the 2 currently has a cleaner/safer loan book and quite possibly, provoke ur thoughts on why the latter should still witness a growth in NPM or record an improved BS ahead of the former. ...UBA should've done better !!

And talking about expense line, that of UBA(though witnessed a surge) was still relatively less than ACCESS, so let's not excuse them of inefficiency by focusing only on that line.
The bank was just not efficient enough with generating cash/income from its available asset(see their AER and CGPR)
That is the core reason why ACCESS booked higher EBITDA MARGIN ahead of it bro, so no surprises. wink cheesy grin

Despite the part in bold, ACCESS still managed to deliver a higher NPM, EM, ROE, ROA, PEG and ENTERPRISE VALUE. There is something to make out of that, so let's give it to them !!
If UBA improves and performs better tomorrow, I will also be among the 1st to give it them.

Regards

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by TLAX: 1:16pm On Sep 08, 2020
FIDELITY Bank

Click here to register for Investors call holding today by 3 pm today

https://services.choruscall.za.com/DiamondPassRegistration/register?confirmationNumber=6058762&linkSecurityString=8193fd742

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by OBAGADAFFI: 1:20pm On Sep 08, 2020
WAPIC
Re: Nigerian Stock Exchange Market Pick Alerts by CashDiMkpa: 1:21pm On Sep 08, 2020
OBAGADAFFI:
WAPIC

Heart breaker. Keep your distance.
Re: Nigerian Stock Exchange Market Pick Alerts by ositadima1(m): 1:23pm On Sep 08, 2020
Mcy56:

Thanks bros.
You're right. I just wasted my time replying him... grin

pluto09:



The guy is most likely a trader who trades all kinds of financial instruments with leverages.
If someone is used to using $10 to chase $100 profits, explaining to him how stocks with 10% profits is good might be difficult.

Bro, that is not how leverage works. Mostly, leverage is used to magnify the tiny moves in the market (e.g. 80 pip profit may just be 0.0080 profit per dollar but leverage will boost it to something a little worth while). It's returns are not so different from d stock market.
Re: Nigerian Stock Exchange Market Pick Alerts by Mcy56(f): 1:32pm On Sep 08, 2020
veecovee:
Somebody help me with access qualification date pls?
Dividend: 25kobo
Qualification date: Thur Sept 17, 2020
Payment date: Mon Sept 28, 2020

1 Like

Re: Nigerian Stock Exchange Market Pick Alerts by RabbiDoracle: 1:39pm On Sep 08, 2020
onegentleguy:


Bro have u really taking a cursory look at ACCESS banks financial print?
I hope u know that the lower print in YoY NII was broadly the result of an over 237% net impairment charge on financial assets. ...a large chunk(over 80%) of which, were allowances for the impairment of L&A(loans and advances), of investment securities and of off-balance sheet items.
But for these bookings,(a part of which will eventually be writing back considering the banks aggressive loan stance) ACCESS banks NII would've printed a 21.7% growth higher than the 8.6% from UBA. Again the formers NIM would've also been better than the latter.

Again, note that UBA did not outperform ACCESS in all core banking lines. The former did better in NFCI while UBA faired better in NII, the offshoot of its healthy loan book spread coming from Q1.(I mentioned it here then)
The pace at which the former did it with that NFCI was even faster(% growth in view) The only reason for the drop in NIM was the result of the points highlighted above.

This should answer to ur questions in bold and also give u an idea of which amongst the 2 currently has a cleaner/safer loan book and why the latter still has a stronger BS ahead of the former.

And talking about expense line, that of UBA(though saw a surge) was still relatively less than ACCESS, so let's not excuse them of inefficiency by focusing only on that line.
The bank was just not efficient enough with generating cash/income from its available asset(see their AER and CGPR)
That is the core reason why ACCESS booked higher EBITDA MARGIN ahead of it bro, so no surprises. wink cheesy grin

Despite the part in bold, ACCESS still managed to deliver a higher NPM, EM, ROE, ROA, PEG and ETERPRISE VALUE. There is something to make out of that, so let's give to them !!
If UBA improves and performs better tomorrow, I will also be among the 1st to give it them.

Regards.

I looked at:

interest income - interest expense.

And compared between 2020 H1 and 2019 H1. There was a decline here even before factoring in impairment charges. You factor impairment charges, there was still decline. This shows there is problem with the loan book. If they are having conference call, try and listen in and see areas where callers will question.

I agree with you there are many areas where Access did better than UBA. But if I'm to choose, I will bet that UBA management will improve on the other expenses because they can control it or stop it (because it is a one-off charge) Unlike having loan issues.

Nwanna, oso Abiola ebidogo na US na EU o. Inafu ife anazu n'afia na obodo ndia? Umuaka Robinhood ha ga fu nke ka ose nsukka grin grin

3 Likes

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