₦airaland Forum

@ danny201. Tnx,

 belive this will be written and there won't be oral interview at this stage? If there will be oral interview do you have idea of likely questions?

God bless

@ Elhef,  work as a research analyst in an investment bank but A̶̲̥̅♏ a bit confuse cos some talking about test and interview.

House pls,

 just got invite for first level of research role. Hosue pls advice on what τ̅☺ study. And if anyone had done first level in related role kindly post your question. God bless

Pple David Cameron is a damn racist. Besides UK is exhausted try canada or US

Sanusi is no doubt BH boy. Will Islamic banking creat jobs, improve nigeria imagine, add τ̅☺ our GDP, ensure even distribution of income etc. Sanusi our renowed economist pls answer

Pple check this link for FGN workers pay. Fink this shd apply for CBN, NEXIM etc

http://www.transparencyng.com/index.php?option=com_content&view=article&id=1589:new-salary-structure-what-fg-workers-will-now-earn&catid=68:economy&Itemid=151

Stupid clan. Let him be throw out of there

Hi all,

Anyone got a clue of the online assesment.

tnx

who told u virgins gal are good thing. besides u need more experienced chic to shag u

lifted-gbenga

if u wanta to work as a financial analyst or investment bankin go 4 cfa n acca if u wanna be an auditor or accountant

$20

Dear All,
I
came into UK last sept for ma Msc. nw obtain Msc. Corporate finance and investment. Took study leave from 1 of the trouble banks and I don't even need to be told not to cum back and resume ma leave.

Can't even get to interview stage of all the job applications that ve made b4 and since I finished ma study in sept 2009.

Next yr I plan to go 4 a prof. exam ACCA or CFA. Guys pls i need ur advise if doin this ll be the best or go back hum n luk for job.

Merry xmas n nu yr.

@ all the contributors tnx for this thread. I work wth Afribank Capital. The startin salary is NGN3.4 b4 the melt down. i don't knw of nw cos i am on study for ma Msc in the UK.

I had the interview 1 mth ago and no update yet. I told em am gonna be available for work in 1st week of sept. 09

Does any1 in the hse ve an idea of hw long it takes to get an update + or _

Tnx Dis guy,

ve got Msc. Finance and Investment and 1 yr procurement and logistics and two yrs investment bankin. The interview went on well and i hope for the best.

Hi all,

Have got invite from MTN Nigeria. I don't no the positn they ll be interviewing for. Kindly Help with any info that could be useful

Hi guys,

Have got MTN interview in london this weekend and i don't know the position that they will be interviewing for.

Any info about their interview??

Tnxs

u gals stress us be4 u say yes and anything in life is a cycle.

kwara state Ekiti LGA

afoloyangbenga@yahoo.com

the stockbroking firm PP is out and it will close on the 31st of march. You can pick up the Placement Memo @ afribank Capital PC 28n Afribank Street V/I Lagos

THESE TWO COY WILL DO PP
SOONEST

A STOCK BROKING FIRM(1.70 naira per share)=====to be listed on NSE

COMPUTERS ASSEMBLER(2.50 naira per share)=====to be listed on NSE


WATCH OUT

afolayangs@yahoo.com

i will like to work in investment banking/capital market of oceanic bank

"the love i have for this relationship is no more there"

single and

searching

Hi all,

Kindly find attached the correct form for Afribank Public offering of 4.0 billion shares

Pls read this about AN Plc offer. I work with one of the lead issuing houses
My contact is 07034502353 or 01-7473712


Dear Investor,


PROPOSED AFRIBANK OFFER FOR SUBSCRIPTION OF 4.0 BILLION ORDINARY SHARES OF 50 KOBO EACH AT N 25.0 PER SHARE

We are delighted to introduce to you the proposed offer for subscription of 4,000,000,000 ordinary shares of 50k each at an attractive price of N 25.00 per share by Afribank Nigeria Plc and hereby invite you to take advantage of this unique opportunity and invest in the Bank.

Your wise decision to participate in this offer gives you an immediate in-built return of N5.49 representing 22% over the current market price of N30.49 (temporarily on technical suspension) on the floor of the Nigerian Stock Exchange (NSE).

The Bank has recently embarked on a strategic transformation of its entire operations whose benefits have already been widely recognized and highly commended by the market. The Bank bagged an award in this regard as the Best Business Transformation for 2007 by Fortune and Class Enterprise.

To ensure effective implementation of the transformation process and further consolidate its gains, the Bank is assessing the Capital market for long term funds for the purpose of financing expansion upgrade of branch network in Nigeria and Europe, strengthen subsidiaries’ capital base to support business growth, implement the Bank’s strategic business developmental objectives through upgrade of Information and Communication Technology (ICT), roll out of Automated Teller Machines (ATM), other e-banking delivery channels and provide working capital to support emerging business opportunities and its enlarged operations.

Afribank Nigeria Plc commenced operations in Nigeria in 1961 with one branch in Kano and has steadily grown its network to 250 branches located in strategic centres across the country. The Bank has grown into a group structure providing a one-stop financial service institution through its six subsidiaries namely; Afribank Capital Markets Limited, Afribank Registrars Limited, AIL Securities Limited, Afribank Insurance Brokers Co. Limited, Afribank Estate Co. Limited, Afribank Trustees & Inv. Limited and ANP Int’l Finance Co. Limited, Dublin.


Financial Performance

The Bank during the last two years has surely succeeded in creating a quantum leap in its financial performance as compared to previous years.
The Bank increased its Total Assets within the period from N98 billion in 2003 to N135 billion in 2006. In 2007, the assets of the Bank increased to N187 billion, which is a 41% increase from the previous Financial Year End (FYE). The Shareholder’s claim to these assets increased from N7 billion in 2003 to N30 billion in 2007.

1. Revenue and Profitability

In Recent years, Afribank Nigeria has shown appreciable growth in terms of earnings and profitability; Earnings grew from N15 billion in 2006 to N27 billion in 2007; which is approximately an 80% increase.
Comparatively, Profit After Tax (before exceptional items) also increased largely in the last two years from N3.9 billion in 2006 to N9.13 billion in 2007.

The growth in gross earnings and Net Profit Margin is largely attributable to the following
• A New management team that is very competent and performance driven
• Strategic repositioning and restructuring of the Bank
• Re-branding and training of staff
• Improved service delivery

2. Value Ratios
The Bank also experienced significant increase in terms of the investor’s confidence in the future profitability of the Bank.

The shareholders Earning Per Share (EPS) grew largely from 0.14 in 2005 to 0.53 in 2006. In 2007, the EPS was 1.02, which is a 40% increase from the previous FYE. The comparative analysis of the industry reveals that Afribank is performing soundly relative to its peers.
The Bank’s Price Earning Ratio is higher than its peers, indicating that the investing public has a lot of confidence in the future of the Bank.

3. Asset Quality
The Bank improved the quality of its assets significantly in 2007 FYE. As a result of discreet measures put in place to improve the quality of the Bank’s risk asset in compliance with the CBN prudential guidelines, the ratio of classified loans to total loan reduced from 28% in 2006 to 16% in 2007. This shows that the Bank is effectively implementing its risk management policy.

The ratio of classified loans to shareholders fund reduced from 128% in 2003 to 47% in 2007 which

shows that Afribank is managing and evaluating the quality of its risk assets.

The decrease is non performing loans will enhance increased income and profitability for the Bank.

4. Liquidity

The loan deposit ratio from 35% in 2005 to 45% in 2007. This shows a margin and indicates that the Bank’s liquidity position is solid.



5. Returns to Shareholders

The Bank in 2007 paid a cash dividend of N0.30 in addition to a bonus issue of one for every five unit of shares owned by shareholders in Bank.

6. Productivity Ratios

Employee productivity increased by 125% from 2003 to 2007. Between 2005 and 2006, management increased the incentive of staff through external training and increase in the salary package of staff, which led to increased profits and general performance of the Bank.
This led to an increase in the income of the Bank per employee. In 2006, the average income per employee was N 5.24 million but grew N 9.99 million in 2007, which is a 91% increase in staff productivity.
Profit per employee was N 0.27 million in 2003 and increased to N1.89 million in 2007.

This trend is meant to continue as the management has human capital development as one of its key strategic drivers for the new financial year.

Non Financial Parameters

7. Improved Brand Equity

The bank has continued to implement aggressive media presence. The development has lifted the bank to attain a top- of-the-mind awareness among the stakeholders. Apart from establishing business locations, the bank is also creating its presence in the minds of its target publics through media visibility.

The over all impact of this on the Bank’s bottom line was an increase in share of the market which is depicted in the tremendous increase of total deposits in the Bank.

8. Awards and Achievements

As a result of the strategic turn-around and execution of the transformation plan, the Bank received the following awards amongst many others.
 Best Business Transformation Award by Fortune and Class Enterprise- 2007
 Euro money Industrial Deal of the Year award by Project Finance International (UK) - 2007
 Primary dealer in Federal Government of Nigeria Bonds – 2007
 Multi-million dollar facility for the development of a Cement plant in Edo State, Nigeria
 Multi-billion naira syndicated facilities to MTN and CELTEL Nigeria.

Conclusion

With the full privatization of the Bank in 2006, the management has moved at a very fast pace to improve the Bank’s financial and operational performance.

The new management team at Afribank is determined to maintain and further increase the growth rates that occurred in 2007 through its 5-fold strategic vision that guide it in achieving this objective as depicted in the projections for the future.

Based on the above, investing in the Afribank’s offer for subscription of 4.0 billion Ordinary Shares at N25.0 per share will be a smart choice.




Courtesy: Afribank Capital Markets Limited

i need to know u in person ma no is 07034502353 or 01-7473712

Invest in stock mkts, discovery fund or time depoist with banks

My Pple,

am planing for masters in london metropolitant and am working but plan to go next sept and am workin.

With ma plan to come back to Nig. after the one yr programme how am i sure of getting job on time cos i do not know if ma mgt can kept ma position