₦airaland Forum

Take KIA o.

4 where?

Poster sef don confuse. Na wa o.

Any where you see JAH children leave them alone. JAH Bless.

@Poster,

Going into stocks at present is really appealing to me. Imagine sinking the N3.0m in a penny stock that is worth say N1.0 now. If it appreciates to say N3.0 (this a worst case scenerio as the stock might even hit N5.0 or more within the period), you would have made N9.0M. This is through capital appreciation only. Imagine the additional goodies which you will get via bonuses and dividends for the period of 5 years.

I know many after reading my advice will shout God forbid! to stocks because of the reccent adverse effect of the global economic meltdown on stocks. Yet, I strongly hold that the meltdown is over and presents a good opportunity to your present need.

Please, note that I have not said that real estate is not a good investment.

May you make your choice according to your conviction.

Hi Manuelo130

Please keep us posted. Any information from my end will be displayed here too. Thanks for your efforts.

@ *Shentz

Mma eyen, mbok tang iko nyin. Ku sem iko mbakara mi aba o .

b 522

EVERY THING HAS ITS ON RULES AND TO SUCCEED YOU MUST PLAY BY THE RULES!!!
NO SHORT CUT SIMPLE.

BELIEVE IT OR NOT I STILL MAKE MY CASH SO WHY SHOULD I BE BOTHERED?

THE DIFFERENCE IS THE IP SOFTWARE I USE IT GIVES ME OVER 20 IP`S TO CHOOSE FROM.
SIMPLE!!!!

You are now talking! Please educate us more on that.

ACCESS BANK PLC
FULL-YEAR AUDITED RESULTS FOR THE YEAR ENDED 31
MARCH 2009

ACCESS BANK PLC REPORTS 43% INCREASE IN NET PROFIT FOR THE YEAR
ENDED 31 MARCH 2009 TO N22.9 BILLION

LAGOS, NIGERIA – 16 June 2009 – Access Bank Plc, (Bloomberg: ACCESS NL)
(“Access Bank” or the “Bank”), the full service commercial bank with headquarters in
Nigeria and with operations across nine African countries and in the United Kingdom
announces its audited results for the year ended 31 March 2009.
Speaking from the Bank’s headquarters in Lagos, Aigboje Aig-Imoukhuede, CEO of
Access Bank, said: “Through this prolonged period of global uncertainty only those
banks which accurately forecast the changing environment and adapt to the realities of
the time will continue to prosper. I am especially proud to report these excellent results
achieved across all of our business lines and in the face of extremely challenging market
conditions. This year as we mark our 20th Anniversary of business operations we will
continue to entrench the spirit of excellence in our businesses across Africa and the
United Kingdom and everything we do will remain rooted in prudent risk management
and our uncompromising commitment to excellent client service.
Commenting on margin loans and the bank’s financial strength Mr Aig-Imoukhuede
added: “since September 2008 we have commenced steps to derisk and deleverage our
balance sheet thereby insulating ourselves from the systemic risks emerging within our domestic market.
Between December 2008 and March 31st 2009, we have paid down $1.1 Billion of our foreign currency
trade facilities through internally generated liquidityfrom our regular deposit generation activities.
This proactive action has ensured that we are able to record a strong financial performance, whilst still maintaining the conservative
risk management practices associated with first class financial Institutions. Indeed
throughout last year and up till today, we have had no cause to approach the CBN
expanded discount window nor have we resorted to rescheduling our margin loan
exposures without recognising impairments on them as required by prudential
guidelines”.
The Bank’s Group Deputy Managing Director, Mr. Herbert Wigwe added that “as result
of the equity market downturn we discontinued underwriting and receiving bank activities
and this has led to a contraction in the ‘other liabilities’ balance sheet line.”

Financial Highlights
• Gross Earnings of N104.5 billion, an increase of 81%, compared with prior year
(N57.6 billion March 2008)
• Profit Before Tax of N28.1 billion, an increase of 48% (N19.0 billion March 2008)
• Profit After Tax of N22.9 billion, an increase of 43% (N16.1 billion March 2008) and
ahead of N21.6bn forecast
• Total Assets of N675 billion, down 35% (N1,032 billion March 2008)
• Loans & Advances up 60% to N391.7 billion (N244.6 billion March 2008)
• Deposits and other accounts up 15% N405.7 billion (N351.8 billion March 2008) Shareholders’ Funds up 7% to N184.9 billion (N172.0 billion March 2008) amongst top five Nigerian banks
• Strong capital adequacy ratio of 35%
• Cost/income ratio steady at 53.4%, (52.2% March 2008)
• ROA 14.2% (11.0% March 2008)
• ROA 3.2% (1.6% March 2008)
• EPS 141 kobo (131 kobo projected March 2009)
• Proposed DPS of 70 kobo (65 kobo March 2008) subject to shareholder approval at
AGM scheduled on 14 July 2009

Sustained growth levels across all 3 main divisions
• Institutional banking profit before tax N11.9 billion (N8.2 billion March 2008).
Commenting on performance, Okey Nwuke, ED of Institutional Banking, said:
“Institutional banking grew its market share despite the increasingly challenging
operating conditions throughout the year. We achieved a 45% year on year profit
growth through a combination of product depth, understanding of customers’ needs
and good distribution strength hinged on a value chain model that is second to none
in the industry. During the year we executed a number of landmark loan syndications
for clients such as Dangote Group and Mobil Nigeria.”
• Commercial banking profit before tax up 43% to N7.0 billion (N4.9 billion March
2008). “New products and our renowned value-chain model led to vigorous account
sign-on during the year,” said Obeahon Ohiweri, ED Commercial Banking.
“Our Project Five Star 5* Service delivery initiative has significantly improved relationship
management while branches opened last year are now operating at full capacity and
gathering much more momentum in terms of business development. This trend has
continued even in the new financial year. Meanwhile, the division also successfully
harnessed FX opportunities that arose from recent turbulent markets.”
• Investment banking profit before tax up to N6.0 billion (N5.0 billion March 2008)
representing 19% growth. “In October and November last year during the period of
extreme currency volatility, we actively engaged with our customers to fully optimize
their working capital, manage their foreign currency exposures and help mitigate their
risk exposures. Our pro-active approach to FX trading in turbulent markets helped
boost the division’s performance and cushion the slowdown in capital market related
activity. We also maintained our leadership in domestic fixed income trading with a
total of 16,000 transactions valued at N1.6 trillion over the year. We expect trading to
continue to drive core performance in the short-term. From an operational
perspective this year marked the establishment of our new Asset Management
subsidiary and the full integration of our Share Registration and Data Management
Company – United Securities Limited” said Ebenezer Olufowose, ED Investment
Banking.
•Retail banking profit before tax grew by 63% to N1.2 billion (N0.7 billion March 2008).
“Profit growth from the retail banking unit in the past year demonstrates our ability to
match innovative products with profitable customers in the retail space and has
vindicated our investments in cutting edge product management infrastructure.
Moving forward we see growth in the e-payment market space and will continue to
build strong partnerships and alliances in order to optimize emerging opportunities in
this area” said Victor Etoukwu, Division Head Retail Banking.

Operational Highlights
• Commencement of banking operations in 8 countries including the UK
• Increased headcount to over 1,434 (1,067 at March 2008)
• Steady operational efficiency performance as measured by the cost/income ratio
• Reduction of the non-performing loan ratio to 2.1% (3.7% at March 2008)
• Full adoption of the International Financial Reporting Standards (IFRS)
Investor Relations Developments
• First Nigerian Bank with post January 2009 year end to publish audited financial statements
• Notice of AGM and publication of audited financial statements scheduled for release
Wednesday 17 June – just ten weeks following year end
• Financial Statements in line with Nigerian GAAP for 2009 and financial statements in line with
IFRS for 2006, 2007, 2008 now available on the bank’s website (2009 IFRS financial
statements to be published shortly following conclusion of external audit review).

SIGNED
AUSTIN EDOJA-PETERS
HEAD, PUBLIC RELATIONS

http://www.proshareng.com/trainingGallery.php

Hello man. It is a great pity to us who invested in the so-called wonderbanks.
So far, nothing is forthcoming but the latest information I got is posted below:

Wonder Bank: case still before Inter-Agency Committee


Peter OBIORA
Proshare NI
May 28, 2009 at 16:52 GMT



The issue of refund of money to investors into the failed Wonder Banks is a pending one; as the case is still before the Inter-Agency Committee set up to look into it.


Lanre Oloyi, Head, Media of the Securities and Exchange Commission (SEC) confirmed this today Thursday May 28 2009 to Proshare NI.


“This Inter-Agency Committee made up of SEC, the Central Bank of Nigeria (CBN) and Nigerian Deposit Insurance Corporation (NDIC) is still look into the issue” Oloyi said.


He affirmed that they have to verify status of accounts of those who invested in the Wonder Banks.


This is coming on the heels of investors’ enquiries to Proshare NI as regards what hope do investors have for a likely refund of their money into the Wonder Banks.


As earlier reported by Proshare NI following enquires from investors of one of the Wonder Banks; Nospetco Oil and Gas Limited (Nospetco).


They are blaming the CBN and the SEC on their woes of not recouping their money in the failed Wonder Bank saga.


These investors are of the view that the Regulatory Authorities should come to dialogue with the Management of the company to see how the issue of refunding depositors fund should be resolved.


Before this time, Oloyi of SEC had affirmed that the Inter-Agency Committee is meeting and collating relevant documents to assess the status of those who invested in these Wonder Banks.


Proshare NI also gathered that some of the investors are calling on Professor Chukwuma Soludo, Outgoing Governor of CBN to help facilitate the release and payment of their money before leaving office.

On November 22 2007, SEC took 37 Wonder Banks before the Investment and Securities Tribunal (IST), advising it to authorise the closure of the offices of these companies; for the reason that they did not obtain the necessary licences to operate either as Fund or Investment Managers in the Nigerian Capital Market (NCM).


Some of the Wonder Banks affected by the clampdown include Fortune Access Interlinks Network, Pennywise Investment Limited, Cyber International Limited, Gold Power Unique Services Limited, Gorutrans Nigeria Company Limited, Interglobal Investment Limited, Money Field Limited, New Freedom Diversified Investment Limited, Open Gate Multipurpose Investors Limited, Orion Express Global Services Limited, and Art Master & Co. Limited.


Others are Wealth Solution Limited, Wealth Transfer and Logistic Limited, Wilson O. Wilson (Doing business in the name and style of Wilamas Ventures), Wisdom Investments Nigeria Limited, and Nospetco Oil and Gas Limited.
Positive Move International Nigeria Limited, Precious Golden Profile, Real and Cool Wealth International Limited, Shola Olanrewaju Ayinke (Sefteg Nigeria Company), Silvertrust Global Investment, Successpoint International Investment Limited, Torid Investment Limited Treasured Fund Assets Limited Vikel Petroleum Limited.


Also on the list are Wealth Concepts Global Ltd, Wealthgage Multibiz International Limited and Wealth Interlink Agency Limited.

http://www.proshareng.com/news/singlenews.php?id=6660

It is now obvious that the govt is the one holding the funds. Well, lets keep hoping that one day govt will refund our money. Cheers.

Trouble-shooter BYL

Team B -500

Geographically

999,218

Electricity is the next main stimulant to economic growth, after peace and security. With these 2 in place, other indices will naturally spring up.

Yabis man

Beat Others And Sit Tight.


BEAST

Ox

Hmmmm. Not a palatable news at all.

Very much!



Do you like snakes?

Hello Fellownlanders,

Us stock brokers are still in the building oh. Sorry some of us were locked in a cage with bears, some of us travelled for training all year long and just got back
I work in a very efficient stock broking firm, if you are interested in opening a stock account, verifying your certificates and buying/selling shares with timely and accurate financial advice, I ask you to take a look at our website www.citiinvestmentcap.com

Please dont hesitate to post or contact me if you are interested.


Take care.

Ok. U are welcome back.

Success is a state of mind. If you want success, start thinking of yourself as a success.

Antelope, Abuja, Apple, Adam, Anchor




C

Nooooooooooooo.

Seconding

Catapulted

Attractive Bermuda Triangle BYL

Oh no, I just realized that i'm far spent in life already

Would you like to meet me?

Hmmm. A special acid. When it drops on u, u feel no pain.

Good morn bro. How bodi?

All hail meeeee, de champ.