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Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 8:19am On Feb 05, 2016*

FCMB Group Plc Announces 3Q15 Results

FCMB Group Plc announces a Profit before Tax of N2.6 billion for the nine-months, ended 30 September 2015.

LAGOS, NIGERIA – 29 JANUARY 2016: FCMB Group Plc (Bloomberg: FCMB) (“FCMB Group”) announced its Unaudited Group Results (though containing the Bank’s Audited Results), for the nine-months ended 30 September 2015.

Financial Performance Highlights:

Earnings Analysis:

Revenue of N109.3 billion for the nine-months ended September 2015, an increase of 2% from N106.7 billion for the same period prior year.
Profit before tax (PBT) of N2.6 billion for the nine-months ended September 2015, down 85% from N16.8 billion for the nine-months 2014.
Net interest income of N48.7 billion, for the nine-months ended September 2015, a decline of 1% Year-on-Year (YoY), from N49.1 billion for the same period prior year.
Operating expenses up 3% YoY to N50.5 billion, for the nine-months ended September 2015, from N48.9 billion for the same period prior year.
Financial Position:

Loans and advances up 1% YoY to N568.0 billion in September 2015 (N565.0 billion in September 2014), down 9% Year-to-date (YTD) (N618.0 billion in December 2014).
Total assets up 12% YoY to N1.17 trillion in September 2015 (N1.04 billion in September 2014), but flat YTD (N1.17 trillion in December 2014).
Customer deposits down 3% YoY to N703.0 billion in September 2015 (722.0 billion in September 2014) and down 4% YTD (N733.8 billion in December 2014), largely driven by the withdrawal of deposits into the Treasury Single Account (TSA) by the CBN.
Key Ratios

Capital Adequacy Ratio – 18.3% (19.0% for nine-months September 2014).
Liquidity Ratio – 35.8% (32.2% for nine-months September 2014).
Loan to Deposit Ratio – 80.8% (78.2% for nine-months September 2014).
Cost to Income Ratio – 73.9% (70.3% for nine-months September 2014).
Non-Performing Loans (NPL) to Total Loans Ratio – 5.8% (3.6% for full-year 2014).
Low-Cost Deposit Mix – 65.8% (65.7% for nine-months September 2014).
Commentary:
Mr. Peter Obaseki, Managing Director of FCMB Group Plc, had this to say about the results:

“The Group’s nine months’ profit before tax, dropped YoY to N2.6 billion, with the significant earnings drop largely coming from our commercial banking activities. This was caused by a specific impairment of N5.4 billion on a contracted receivable with a reputable and creditworthy going concern that we are hopeful of recovering and additional impairments of N6 billion on our loan book. Revenue also came under significant pressure due to various regulatory and macroeconomic headwinds, with the lull in the capital markets also adversely affecting equity capital transactions and other businesses under our investment banking arm. However, top-line revenue continues to hold up on the back of a strong and resilient retail business, transaction services and alternate channel offerings; improving liquidity and stable capital adequacy.

Against the backdrop of a weak macroeconomic environment, the priority in the coming months will be on cost efficiencies - especially cost of risk - capital preservation, loan and receivable recoveries and sustaining the momentum in our retail banking activities.”

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 10:57am On Feb 04, 2016

https://www.thecable.ng/undercover-investigation-nigerias-customs-of-corruption-bribery-and-forgery

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 9:50am On Feb 04, 2016

Chibuking81:
Please join me to praise God as I celebrate my birthday today been 4th February 2016, I love you all.

A Happy Birthday To You! And many happy returns.

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 1:17pm On Feb 03, 2016

http://www.nse.com.ng/Financial_NewsDocs/12190_TRIPPLE_GEE_Q3_DEC_2015_FINANCIAL_STATEMENTS_FEBRUARY_2016.pdf

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 12:37pm On Feb 03, 2016

rebekah2011:
It is loss everywhere now. Why is this stock currently doing over 9.75%? NSE the more you look the less you see. This company is over leveraged. 164.9b in debts and 17.4b in finance costs as at Q3. Working for the banks. It should come down to around N10, I want to load more.

This is a case of 'a glass is half full and a glass is half empty',it depends on your perception! The future will tell who is right.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 12:34pm On Feb 03, 2016

rebekah2011:
It is loss everywhere now. Why is this stock currently doing over 9.75%? NSE the more you look the less you see. This company is over leveraged. 164.9b in debts and 17.4b in finance costs as at Q3. Working for the banks. It should come down to around N10, I want to load more.

This is case of 'a glass is half full and a glass is half empty',it depends on your perception! The future will tell who is right.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 11:57am On Feb 03, 2016

http://www.nse.com.ng/Financial_NewsDocs/12189_FLOUR_MILLS_OF_NIG_Q3_DEC_2015_FINANCIAL_STATEMENTS_FEBRUARY_2016.pdf

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 3:26pm On Feb 02, 2016

chillykelly86:
The results being expected in the banking sector are not going to be good, if FCMB is anything to go by. We can safely assume that FCMB is this clear because their Q3 was audited. They're not the only banks with an exposure to the oil sector; if anything, they have one of the least exposures to the oil sector.

When other banks' books are audited, things will come out clearer. The huge dividend expectations may turn out to be a mirage. There may be a consequent stampede at the exit door instead.

I am selling down right now, as against popular opinion and I take responsibility for my actions. I could have kept quiet about this, knowing the sentimental backlash I expect, but let my conscience be cleared that I didn't hold back what may turn out to be useful information.

Peace

You're quite right,but don't forget banks without integrity would likely cook their accounts!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 11:42am On Feb 01, 2016

FCMB is about to take off! Even 'sick' Oando has gained today.

4 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 10:49am On Feb 01, 2016

Manonamission:
Won't you allow FCMB crash?

It is the duty of the market(demand and supply)!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 6:54pm On Jan 31, 2016*

For the now,I still believe in FCMB because they told investors that there is going to be a drop with respect to Q3 & Q4 2014 Financial Results! This denotes profound integrity and a sign that all is still well.
On the other hand,Oando didn't do what FCMB did; and this is a great sign of lack of integrity!

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 6:45pm On Jan 31, 2016

stokfrick:
BT I tot d total %age of exposure should b equal to 100%? Hw come it is now more than 100%? I smell some exaggeration here!

It is with respect to each bank's loanable funds;that is,the percentage of each deposit money bank's asset for lending!

2 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 6:13pm On Jan 31, 2016

@Manonamission
[Source of this write up below is http://venturesafrica.com/the-10-nigerian-banks-with-the-greatest-exposure-to-the-oil-crisis/ ]
According to a report by Punch, the following banks have the greatest exposure to oil sector.
1. Nigeria’s oldest bank, First Bank by 40 percent.
2. Nigeria’s largest lender by market value, Guaranty Trust Bank Plc by 28 percent.
3. Top tier lender, Fidelity Bank by 28 percent.
4. Nigerian lender, Skye Bank by 27 percent.
5. Nigeria’s fourth largest bank, Access Bank Plc by 25 percent.
6. Top tier lender, Diamond Bank by 25 percent.
7. Nigeria’s biggest bank by asset, Zenith bank Plc by 18 percent.
8. EcoBank Nigeria by 18 percent.
9. United Bank for Africa (UBA) by 16 percent.
10. First City Monument Bank (FCMB) by 14 percent.

3 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 4:47pm On Jan 30, 2016*

Mfunkynation:
will it install on my lumia?.... am using a windows OS not android..

Try this windowsphoneapk.com/APK_Chrome-Beta_Windows-Phone.html or https://www.microsoft.com/en-us/download/details.aspx?id=40854

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 4:46pm On Jan 30, 2016

Mfunkynation:
will it install on my lumia?.... am using a windows OS not android..

Try this( windowsphoneapk.com/APK_Chrome-Beta_Windows-Phone.html).

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 1:02pm On Jan 30, 2016

amicable09:
Edueco, your knowledge about the Nigerian Stock Exchange market is wonderful. I wish it can be coveted, I'd gladly covet it.

I'll silently follow this thread as I learn from the masters I see here. It's interesting.

I am still a learner! Thanks for your noblest compliment.

1 Like

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 12:38pm On Jan 30, 2016

Mfunkynation:
pls kindly give me the link of d opera beta... thankz

www.apk4fun.com/apk/3318/

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 12:17pm On Jan 30, 2016

Godisfaithful:
Sir Born, well said. Trust the market marker of this stock. The stock wouldn't be on free fall like others. The worst had happened already. Just remember this word, stock like this always make a very strong U-TURN. Not a recommendation for God sake...lol

In stock market, NEVER say NEVER

I pray for a free fall of FCMB in order to load more.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 12:12pm On Jan 30, 2016

@leo1234,Good management and +ve basic Earnings Per Share! For the now,the management of Daar Communications is grossly inefficient(just like Oando).

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 10:23am On Jan 30, 2016

@donmarshia,I am hoping for FCMB's great crash in price in order for me to buy more units!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 10:19am On Jan 30, 2016

abafetch:
tanks sir.. Wil do as instructed

You're most welcome!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 10:17am On Jan 30, 2016

[quote author=Agbalowomeri post=424559
Please can someone interpret? What is this man saying?[/quote]Oando made -N13.44 loss for 2014 Full Year ;while at 2015 Q3,its loss is/was -N4.18! And yet,Oando's investors are hopeful of a great future;then,FCMB's investors should be more hopeful of a greater future in the short run.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 9:23am On Jan 30, 2016*

Agbalowomeri:
FCMB is a good buy at 65 kobo. They will definitely report a loss for the year end 2015. Q3 was still conservative

What is your estimate of FCMB's loss even if there will be one? Oando made a great loss of N13.44(EPS) for 2014 Full Year,but its share price has never gotten to N2 not to talk of 65Kobo. The probability of FCMB getting to 65Kobo is very small!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 9:11am On Jan 30, 2016

abafetch:
Gud mornin intelletual personel in d house... Pls i ned ur advice on how 2 go futher wit my late dads share wit (sterlinghealt now gsk) and AP i ave d certif hw can chang d name 2 mine and d divident pls

Contact Meristem Securities Ltd.,Nigeria. Just search on line for their phone contact.From my experience with them,they are quite efficient!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 9:05am On Jan 30, 2016

FCMB Group Plc pays annual dividends on its ordinary shares. FCMB Group Plc's Board of Directors has adopted a policy that seeks to provide investors with a stable and sustainable form of capital distribution, with consideration given to the growth requirements of the business, thereby maximising long-term share value for shareholders.

Dividends Paid and Year-End Earnings Per Share (Basic) Information

YEAR DIVIDEND
as at 31 st December (Kobo) EPS (Basic)
as at 31 st December (Kobo)
December 2014 25 112
December 2013 30 81
December 2012 Share Bonus (1:25) 77
December 2011 Share Bonus (3:20) 61
December 2010 35 49
December 2009 5 3

Up until April 2009, FCMB's financial year began on May 01 each year and ran up to and included 30 April of the following year. However, as FCMB has now moved to the common December year-end for Nigerian Banks (effective 31 December 2009), FCMB's financial year now runs from January 01 each year up to and including 31 December of the same year.

YEAR DIVIDEND
as at 30 April (Kobo) EPS (Basic)
as at 30 April (Kobo)
April 2009 0 25
April 2008 50 135
April 2007 35 63
April 2006 13 36
April 2005 7.5 25
@ Krishna, For the past 10 years; FCMB has paid dividend 8 times and given bonus 2 times! Due diligence is now yours to make. For the year 2014 which ended December 31,EPS is/was 112 Kobo while 25 Kobo is/was the dividend!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 8:00am On Jan 30, 2016

Mfunkynation:
pls wat browser can i use in my lumia 535 dual sim to use itrade. kindly... response. Thankz

Since your Lumia also has HTML5 browser, the same version of Opera Beta could most likely work with your Lumia 535.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 11:56pm On Jan 29, 2016

duni04:
Hate u for this but the emphasis on the minus was hilarious!

Bros,am sorry if I offended you(life no be Holly Wood). For the now, I can never buy Oando for 50 Kobo if it falls to this price; while I will gladly empty all my cash into FCMB if it falls to 50 Kobo! My apology to those in the Oando train if you're offended by this noble post.

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 11:03pm On Jan 29, 2016

Born2berich:
Oando released full year result, fcmb released Q3....Let their full year result come out first.

Oando's 2015 Q3 EPS is/was --N4.18 while that of FCMB is +N0.13; the difference is clear. For the now, FCMB is still an asset while Oando is a liability(based on 2015 Q3 result)!
Oando's 2014 Full Year EPS is/was --N13.44(take note of the minus)!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 9:35pm On Jan 29, 2016

Born2berich:
I have been ringing the warning about fcmb delayed result since last year..Now see wetin dey present after the management have offloaded.... Chia!!! This is a lesson from oando and fcmb, whenever a result is delayed for too long, run...

No company will withhold a good result for too long -- born2berich

FCMB is poor result but with +ve EPS, while Oando is a very poor result but with a very -ve EPS.

2 Likes

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 6:04pm On Jan 29, 2016

ufotty2001:
thanks .. I can now log in

You're most welcome! That's why we are all brothers and sisters in this ministry.

1 Like 1 Share

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 2:05pm On Jan 29, 2016

9free:
Playstore

The one(is the latest version) in PlayStore is not that compatible with most HTML5 Android phones/tablets with respect to Morgan's iTrade platform!

Investment › Re: Nigerian Stock Exchange Market Pick Alerts by EDUECO(m): 2:01pm On Jan 29, 2016

ufotty2001:
please_ how can I download opera beta

Just google/search this very version of Opera Beta!

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