₦airaland Forum

Don't you think is time to drag your Morgan to have a registered Moniker here to attend to your worries.

This government isn't helping the economy,how can you authorize sale of USD at 197 to pilgrims when we all know the official rate?

feelamong:
Oga na siddon look I dey now for NSE o!!

I no get money to invest for NSE again....so i just dey read Investment quotes to keep my brain busy!

I dey wait for one more bull to exit and wait for sometime to re-enter.I hate slow motion mode on NSE.

@Feelamong,Are you sure everything is ok?Your quote has been on the rise lately!

Which bad news entered market 30 minutes before closing?

Godisfaithful:
Come as a surprise sir

Just funny!

Market is thinking?

Somehow they are cheating investors on nse comparing to happenings in other market.For example listed companies on Ireland stock exchange pays as much as 68Euros dividend on a stock that cost 23Euros to buy while Nigerian stocks especially banks pays peanuts.Most of our companies are not completely truthful with investing public.So why would you JIJO such stocks when your dividend is almost 300% of the cost per units?

otokx:
They may just have to pay themselves.

?

megainvest:
GSK Completely below the lines...

http://www.nse.com.ng/Financial_NewsDocs/14513_GLAXOSMITHKLINE_Q2_JUNE_2016_FINANCIAL_STATEMENTS_JULY_2016.pdf

Topline, bottomline, "middle" line, ALL red!

And they are paying special dividend of 60k by August.

feelamong:
Bros take another look at the Financials of this coy...

look at the Liabilities side..Nothing has changed much. Their Customers' deposits (which represents Dividend, return monies and other interests re
ceived from clients but yet to be claimed) actually increased to 12,178,379 in H2 2016 from 11,331,469 in H2 2015.

In fact in particular the Unclaimed dividends increased from 10,552,290 in H2 2015 to 11, 448,771 in H2 2016

what actually hit them hard was their investments income from Treasury Bills. This nose dived from 426,677 in 2015 to 90,990 now!

We all also know how low the TB rates have been since beginning of the year until recently. Rates dropped to as low as 3 -5% earlier in the year. As we speak these rates are now as high as 14 - 17 %.

I still think they will turn this Investment Income figures around by year end. (Hoping that they did not do long tenor investments earlier in the year)

The share price will definitely drop...but i want to advise those in it not to panic and sell..

for those wishing to increase their stake...there is no better time than now!

Disclosure: I have 2 units of this stock in my Portfolio

It might be intentional to bring the stock price down but 3rd quarter and end of the year result might show high income earnings from Treasury bills.

Banks with enough foreign subsidiaries could edge against such but I pity smaller banks.

13Million plus bid for Access against 5Million offer.Looks good!

Technically MPC decision is good for banks.

lancee:
Watching

If not,how can one explain a trade of Access at 5.35 when the price was 5.70 at the time even there were other lower bids at 5.45 -5.50 at higher volumes and some one just sold to the lowest.The same goes for UBA when it was trading yesterday at 4.60,someone sold at 4.20 just to pull it down by force.The target is Access and UBA has these stocks refuse to bend down to 3.something.

Institutional investors have been trying from yesterday to drag down prices of financial stocks.

lancee:
Dem try , with the way analysts dey shout as if this bank go die tomorrow

They show a promising future.

PRESS RELEASE

Lagos, Nigeria – 26 July 2016

FBN HOLDINGS PLC. REPORTS PROFIT BEFORE TAX OF N45.9 BILLION FOR THE SIX MONTHS ENDED 30 JUNE 2016

FBN Holdings Plc. (“FBNH” or “FBN Holdings” or the “Group”) today announces its unaudited results for the six months ended 30 June 2016.

Income statement
Gross earnings of N267.9 billion, marginally lower by 1.2% year-on-year (Jun 2015: N271.3 billion)
Net-interest income of N126.1 billion, down 5.0% year-on-year (Jun 2015: N132.7 billion)
Non-interest income of N94.1 billion, up 52.0% year-on-year (Jun 2015: N61.9 billion)
Operating income of N220.1 billion, up 13.1% year-on-year (Jun 2015: N194.6 billion)
Impairment charge for credit losses of N69.9 billion (Jun 2015: N22.6 billion)
Operating expenses of N104.3 billion, down 13.0% year-on-year (Jun 2015: N119.9 billion)
Profit before tax of N45.9 billion, down 11.9% year-on-year (Jun 2015: N52.1 billion)
Profit after tax N35.9 billion, down 10.5% year-on-year (Jun 2015: N40.1 billion)

Statement of financial position
Total assets of N4.8 trillion, up 15.3% year-to-date (Dec 2015: N4.2 trillion)
Customer deposits of N3.1 trillion, up 4.2% year-to-date (Dec 2015: N2.97 trillion)
Customer loans and advances (net) of N2.1 trillion, up 16.2% year-to-date (Dec 2015: N1.8 trillion)

Key Ratio
Post-tax return on average equity of 12.0% (Jun 2015: 14.8%)
Post-tax return on average assets of 1.6% (Jun 2015: 1.8%)
Net-interest margin of 7.2% (Jun 2015: 7.8%)
Cost to income ratio of 47.4% (Jun 2015: 61.6%)
NPL ratio of 22.8% (Jun 2015: 4.1%)
55.9% liquidity ratio (FirstBank (Nigeria)) (Jun 2015: 34.7%, Dec 2015: 58.6%)
15.4% Basel 2 CAR (Including H1 2016 profit : 16.7%) (FirstBank (Nigeria)) (Jun 2015: 15.8%, Dec 2015: 17.1%)
27.9% Basel 2 CAR (FBN Merchant Bank) (Jun 2015: 17.2%, Dec 2015: 23.0%)

Notable developments
Mr. Callistus Obetta was appointed Group Executive, Technology and Services at FirstBank, effective 1 July, 2016
African Development Bank (AfDB) approved $300 million to refinance FirstBank’s trade finance transactions
FirstBank sustained its leadership as the first financial institution in Nigeria to achieve 100 million electronic-banking transactions per month
Mr. Bode Opadokun was appointed the MD/CEO of FBN General Insurance, effective 1 May, 2016

Commenting on the results, UK Eke, the Group Managing Director said:

“FBNHoldings’ performance has remained resilient in the challenging macroeconomic and business environment, further exacerbated by the devaluation of the Naira and by the persistent rise in inflation. The Group returned gross earnings of N267.9 billion and profit before tax of N45.9 billion; a reflection of the strength of our underlying business, improving cost control as well as optimisation of revenue generating opportunities. Focus remains on organic earnings generation, divestment of non-core assets, in addition to balance sheet efficiency to further enhance capital.

We remain focused on leveraging the strength of our diversified business model by exploiting synergy opportunities and cross-selling across our commercial banking, merchant banking & asset management as well as our insurance businesses towards creating sustainable value for our stakeholders.”

**Full press release attached; to access financial statements click here **

For further information, please contact:

Oluyemisi Lanre-Phillips (Head, Investor Relations)
+234 1 905 2720
Oluyemisi.lanre-phillips@fbnholdings.com

Not a bad result.