₦airaland Forum

Agbalowomeri:
Rate cuts means lower earnings for banks

I know that's where you would take it to 😁😁😁

Doesn't mean GTCO will reach your N18 though.

Let them sha cut tomorrow.

If not, I'll visit FedralHighCourt.

GDP numbers are out.

+4.23% in Q2

ojesymsym:
Morgan has one feature that they do not have, Morgan gives you an immediate estimate of the total cost when you input quantity and price, Stanbic does not however Stanbic allows you to select the duration of days you want your limit price to last, to the best of my knowledge, Morgan will cancel all pending order at the end of the trading day, which means you have to refill an order the next day if it was not fulfilled that day.

In all, they all have their uses. Stanbic is where I do my compounding, because the investment there are mostly from dividends or gains so I tend to indulge more with the dividends that come that secondary income unlike the primary dividend that the first right is for it to be invested.

I think Morgan was set up with traders and retailers in mind!

It's been awesome so far.

ojesymsym:
I believe that 5m policy has been relaxed.

They were consistently topping the volume and value charts at the time na.

Thank God for good competition.

Plus the market has moved to more domestic players compared to the foreigners that were the large chunk of their clientele (I suppose)

Mpeace:
It's an improvement on last year's N2. They also paid N3 as final dividend for last year. Not bad

Ohh... Thanks for this update.

I was thinking of their old pattern when final dividend was always leaner than interim.

dapix:
https://doclib.ngxgroup.com/Financial_NewsDocs/44991_STANBIC_IBTC__HOLDINGS_PLC-_QUARTER_2_-_FINANCIAL_STATEMENT_FOR_2025_FINANCIAL_STATEMENTS_SEPTEMBER_2025.pdf

N2.5 interim.

Would have been more impressive if their interim/final ratio was normal.

IYGEAL:


It's the minimum by most of them these days. IBTC used to be millions but even them have now joined the 5k minimum geng

Ibtc asked me to bring N5m plus utility bill showing my name as the property owner.

I had nothing close to either of those at the time 😁😁

And it's not even N5m of today's money o.

@KarlTom, are you on vacation

chimex38:
1% of MCSE= 38.5M

Yes. Plus at least 1% of ATLS too. Guaranteed profit of 1-2% of total trade volume. Not bad for a slow September.

mygee2:

It's same account I pay into, so you should be good, especially since all you were told to pay is just 5k

MCSE doing 2.26% of the market.

I did 1% of MCSE with half my portfolio 🎉🎉

mygee2:
I registered Morgan capital using these form and they sent a follow up email to do KYC now they sent these mail that I should send an amount please gurus is these legit

Maybe you should show the bank details you were asked to pay into.

Then we who have been paying into it for years can confirm if it's the same.

GeneralDae:
Those European refiners were consistently supplying a phantom 66 million litres per day PMS to Nigeria in 2022, paid for through debt and about 400k bpd crude oil swap by NNPC to them. From the 66 million litres per day PMS supplied, some were sold to Niger, Benin, Togo, Cameroon and even as far as Ghana and Senegal.

Those guys were making a killing from our stupidity.

The situation in 2022 was so sad because due to this we couldn’t even benefit from the high oil prices in 2022 (due to Russia- Ukraine war) while Angola and other oil countries swelled with oil money.

Dangote at 700k bpd capacity saves us a lot by meeting our true consumption which is around 40 million litres per day and exporting the rest because they would still have about 20 million litres per day left over to export.

Yes sir.

-------------------------------------------------------
Commenters, there's no political tone here ^^^ whatsoever.

Please just read it objectively.

Itzlinda:
No refinery in Europe is bigger than Dangote. Most of these refiners now work under capacity because 🇳🇬 imports less Petrol.

And Alhaji said they're making adjustments to turn it to a 700k bpd facility by next year.

chimex38:
FG collected 70% of Banks' Forex gains of 2023/2024.
Wetin remain?

I didn't even follow up that their windfall tax story to the end.

It's too much! On top of 30% CIT, 2% education tax, and another 10% off PAT.

But like Pa Emma has been saying since 2018, Nigerian banks have mastered the art of making money.

GeneralDae:
True and once this whole forbearance issue is put behind us (for the most part) we would have fundamentally stronger banks. I also think this recapitalisation process that has occurred side by side the devaluation, would yield more pros than cons for the Banks.

Yes sir.
I think the only con is the dilution from the bloated OS.

If one of them (GTCO) begins the culture of buy back, the others are likely to copy.


They could just use 10% of their retained earnings to lean out these scary OS.

@GeneralDae,

True FX gains were huge contributors in 2024.

Now beyond 2024, that shift in currency value has also translated to gross assets doubling or tripping for some of the banks in the past 2 years.


So if Access has 13trn to work with in 2023, now that their assets have grown to near 40trn, it's easier to make more money.

My point is the effect of the FX isn't just the one off gains, it's also translated to higher asset base, so if they maintain the same average ROAE or even a lower ROAE, they'll still be making so much cos the A has ballooned.

ppogba:
I am not sure Cardoso allowed them to recognize the revaluation gains as profit in their YE 2024. I stand to be corrected.

Why not? If the fair Value of their assets have changed, why not?

Anyways gains from about $5bn of the holdings were actually realized, cos CBN forced this 0% long NOP policy that forced them to sell.


If GTCO held $1bn valued at 460bn in 2023, and they were forced to sell in February 2024 at 1600 for N 1.6trn in proceeds, why would CBN say they haven't made N1.14trn in gains?


I think what CBN might do is limit how much dividends is paid from such gains or whatever, but i don't see why they would basically ask them to lie by not recognizing the gains.

Streetinvestor2:
To be sincere I stopped reading that dude post.Sometimes I read one line over 5 times and still don't get what he is trying to say.So to stop giving myself headache. I jump and pass many of his post.I don't have that patient of time when is not adding value to me

😁😁😁
His GUINNESS/ GUINEAINS post cracked me up though.

chimex38:
The one you quoted was coherent enough compared to others..

Wait make "undead" visit this forum.
You will redefine coherent

emmanuelewumi:
School na scam

😁😁😁

sboga:
very serious matter dis one
d one dat can overtake nb or even the dark one
for doze of us dat got the pre-invite
dat dia energy drink wey dem call bull sometin sha...
and dia national plans...
omo

How do manage to consistently type incoherently? 😁😁😁

Like every time!

H1 not immediately having the expected impact, but we're still set for the second consecutive positive weekly close as we eagerly await a cut on Tuesday.

Meanwhile reserves will cross above $42bn later today. It's already above it, it's just for the figures to get updated.

IYGEAL:
Effective communication is underrated

Imagine that oga was on phone call when they brought the tea 😁😁😁

He would poured TEApex on the documents before realizing his village people finally got him.

CBN has done one part.
They should do the other next Tuesday.

September must close above 145k.

DelilahMakinde:
In fact today's market ehnn.,...really it's neither bullish or bear....traders are especially cautious now.
It was very difficult to make the calls I made. I should have held my peace for today

Me I just thought you were hunting monkeys 😁😁

If anyone could correctly predict the market as you tried, It wouldn't be long before he owned it na?

DelilahMakinde:
You're right we will rectify the Glitch !

Which glitch

Are you sure you're awake?? 😁😁

What's today's date? let's know what realm you're in.

Powell has done a 25bps cut as expected.

Cardoso should please do 150 on Tuesday!

Na beg I dey.

Let's get back to 145k for September!

Reserves look set to hit $42bn on Friday!

It's probably already above that figure. Their 30-day moving average figure will only reflect it by Friday.

chimex38:
Thought CIT was way less @ 10%
Next year it's gonna be about 30% if I am not mistaken..
Why 52%?
Does he have accruals?
It's gonna be brutal for him next yr with this new Tax act if old tax rate is sucking him like this.

CIT is currently 30%.
They're looking to gradually drop to 27 then 25% in the new tax act.

But there are other levies like the 2% for TETFUND, the 10% WHT charged on already taxed profit(still goes to the same govt) etc.


I think what they're taking away which he previously enjoyed was the pioneer status, where if you build a new plant, you can enjoy up to 7 year tax holiday on products from that plant.


The policy was so generous that it also covers even just new additional lines.

Imagine DANGCEM had 20 million tonnes capacity at Obajana across 4 lines (say 5 million tonnes each).

If lines 3 and 4 are new lines, and the company needs to produce just 12m tonnes, they'll produce 5m from line 4, 5m from line 3 (both of which would be tax exempt) then only 2m tonnes from either line 1 or 2 and pay taxes on just 2m tonnes instead of 12.


He mentioned in his recent press conference that they won't give him that for Itori.

GeneralDae:
If Tinubu had immediately banned imports and stood behind Dangote, they would still say Tinubu is giving Dangote monopoly. The major reason Hundyin and the opposition started supporting Dangote in 2024 was that they interpreted his outburst on July 2024 against NMPDRA and DAPPMANN to be all about Tinubu 😆. So they thought Dangote was fighting Tinubu and the enemy of my enemy is my friend 🤣

😁😁😁😁
How about the in-law of my enemy's cousin?

Is he my friend ?

GeneralDae:
If Tinubu had immediately banned imports and stood behind Dangote, they would still say Tinubu is giving Dangote monopoly. The major reason Hundyin and the opposition started supporting Dangote in 2024 was that they interpreted his outburst on July 2024 against NMPDRA and DAPPMANN to be all about Tinubu 😆. So they thought Dangote was fighting Tinubu and the enemy of my enemy is my friend 🤣

😁😁😁😁