₦airaland Forum

manie:
They will get out of this mess, but management must change.



https://www.nairaland.com/2504524/first-banks-rising-loan-losses

Hopefully

he he he ..NSE has the final say

Aug5

First Bank Nigeria H1 2015: Best prepared bank so far for the tough times ahead


Dear Africa Interested Individuals:

In difficult operating environments, I like to get a feel for the banks that are prepared to deal with the difficult times ahead. Sometimes in life, the simplest assessments tell a lot. I have picked one for today's article. Ten (10) Nigerian banks have so far released their H1 2015 results. This is not about profit this time around. I want to look at the two Double D's that Nigerian Banks are fixated on; the former perennially and the latter temporal. Deposits and Debt (could be borrowings, securities issued or on-lending facilities.)

First Bank increased its deposit base over the first six months of 2015 by $376.5m and reduced its outstanding debt by $412.2m. First Bank succeeded in adding what it values and reducing a burden on its books. If the bank succeeds in reducing its net debt by another $169m, by the end of the third quarter, it would have brought its debt level back within viable investment levels. The bank succeeded in adding more of what strengthens it and reducing what is holding it back.

Barring any strategic change, the bank is best prepared (among banks with H1 2015 earnings released) to deal with the peaks and troughs it will face over the second half of 2015. Another bank worthy of mention is FCMB; the bank, following the principle of "caution is the watchword" was able to also increase its deposit base ($259.8m) and reduce its debt by $6.2m. I acknowledge that Stanbic also achieved the same feat, but, paid a hefty price for its deposits which negates the benefits of the increased deposit base coupled with a year-on-year spike and is therefore excluded.

The only bank among the three to still achieve a gain in pre-tax income was FBN Holdings and reduce its debt in excess of the increase in its deposit base.


Tell others to tell others about this Africa Research Blog; a new dawn is here


Culled from SMN

FBNH 6.97 ..buying hig selling low .Nse

..FBHN ..ACCESS na go slow stock , I hope no be this AMCON shares dem make Aceess drag

myjoy08:
The men in black are ready to walk the talk in Oxygen. And surprise package might be in the details . The brave take it all...

Lets carry on at our own risk

chai...I just rem saibuhari /saibaba , hope u re still here its been a while

.. Don't know why ?

angelo82:
They don't have to give bonus this year but they will sure pay at least 50k dividend..............And then retain most of the earnings..........I believe things will be better,I believe FBNH will survive.............It was sold below 6 last year..........Dont mind RENCAP,they are just trying to bring the stock down so that they can position their portfolio............Their report makes no sense......Very uncertain analysis.............

u have a point sir

myjoy08:
http://www.nse.com.ng/Financial_NewsDocs/10451_ACCESS_BANK_PLC_BOARD_CHANGES_CORPORATE_ACTIONS_JULY_2015.pdf


Nice Selection

Mr 08myjoy ,pls what is it about , I couldn't open it on my end here

Bodlade:
Good day friends, a single bedroom flat accommodation unit available for sale at Redeem camp at 1.8m
Kindly call 08091571751 if you're interested.
**For redeemed members pls**

Oga have been trying to reach ur number ,, nobody is picking it up..can u pls upload the pixs to see

P’Harcourt, Warri refineries commence preliminary operations – NNPC

July 29, 2015

The Nigerian National Petroleum Corporation has announced that the Port Harcourt and Warri refineries have been successfully re-streamed after a nine-month rehabilitation exercise conducted by its in-house engineers and technicians.

The corporation, in a statement, noted that both plants commenced preliminary production of petroleum products after successful test-runs, adding that while PHRC was ramping up its operation to about 60 per cent of its 210,000 barrels per day capacity, WRPC production was projected to hit 80 per cent of its installed 125,000bpd capacity.

The NNPC said the Port Harcourt refinery was projected to boost the nation’s local refining capacity with a product yield of five million litres of petrol per day, while Warri refinery would contribute 3.5 million litres of petrol.

Providing insight into the rehabilitation exercise, the NNPC noted that it had to adopt the phased rehabilitation strategy after the Original Refinery Builders, who were initially contacted for the project came up with unfavorable terms.

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It said, “Though a decision was taken in 2011 to rehabilitate all the refineries using the ORB of each of the refineries, we were impelled to switch strategy after the ORBs declined participation and nominated some partners in their stead who came up with outrageously unfavorable terms.”

The NNPC stated that the nominated partners, as sole-bidders, came up with humongous price offers after two years of thorough and exhaustive scope of work definition and price negotiations.

It added that the proxies were also unwilling to provide post rehabilitation performance guarantees.

The corporation said, “The phased rehabilitation strategy which entailed phased and simultaneous rehabilitation of all the refineries using in-house and locally available resources in line with the spirit and letter of the Nigerian Content Law, also involved the use of Original Equipment Manufacturer representatives to effect major equipment overhaul and rehabilitation.”

The national oil firm said the phased rehabilitation programme, which started in October 2014 after the required funding stream was established, created a 70 per cent reduction in costs which helped largely in mitigating the financing challenges of refinery rehabilitation.

It observed that with the successful re-streaming of the PHRC and WRPC, attention has now moved to the 110,000 barrels per day Kaduna Refining and Petrochemicals Company which was billed to come on stream soon.

Westadon:
Na so so waka waka, settle down and fulfil just one election promise. 60days gone now

we still dey honeymoon o

..hard to say goodbye

Ibiovikk:
Nigeria workers deserve much more.
In America;
A CNA worker(caregiver, babysitter, minder, househelp etc) gets an average $29,000(5.51m naira/yr).

There is nothing to celebrate about, a banker in nigeria is poor.

U re correct , but how much do you save out of that $29,000

Re: 60 Days: Buhari Yet To Fulfill Any Electoral Promises – PDP. by PhockPhockMan: 11:47am

BUHARI'S REPORT CARD SO FAR.




**Spent N2.2B on his 4days US Visit.
**Shared N2.9Trilion with with states and LGA in 7 weeks.
**Shared $2.1Billion from the $5Billion from LNG Tax Income.
**The List he sent to G7 and US Govts were all rejected.
**His acting Ministers, Oshiomohole (Finance), Okorocha (Foreign affairs) did not perform during US tour.
**Inflation rate increased by 8%, stock exchange lost N1.3Trillion in 5 weeks as Investors started losing confidence on the Govt.
**Dollar increased from N197 on May 29, 2015 to N249 today.
**The 1st time in 4 years, the Federal Government expenditure is not published publicly for Nigerians.
**Unemployment level is at all time high. Employers are uncertain of govt policy direction.
**Arresting and detention of Nigerians in Dark rooms and Underground cell without charge(s) have returned.
NB: This current deplorable situation in the country will definitely not define Buhari's govt, as I am sure he will pick up around November/December.
Sadly, Buhari's biggest Enemy is Himself. His attitude towards the "5%" will make or decimate his administration.
He is Likely going to achieve about 17 of his 81 election promises.
My Only Advise for Buhari, is for him not to use GEJ's administration as yardstick, as that will imply setting a high bar that will be impossible to surpass.
On Corruption, playing to the gallery or fighting Corruption on pages of Newspaper or Television will be a bridge to nowhere.
Buhari Need very Nigerian's prayer. Right or wrong, His success is our success.


Culled from Nairaland

Baba still enjoying his 100 days honeymoon

myjoy08:
ooni of ife oba okunade sijuwade is reportedly dead...

http://www.punchng.com/news/ooni-of-ife-dies-at-85/

http://africanspotlight.com/2015/07/28/ooni-of-ife-oba-okunade-sijuwade-is-reportedly-dead/


Rest In Peace Baba

Oba Okunade sijuwade..omo oni olubuse...RIP

WETIN BE THIS AGAIN

myjoy08:
Bull comes unexpectedly. Sincerely, our market is still a buyers zone. Men in black are acting in disguise. Remember this word "The Voice of Jacob and the Hands of Esau"

I trust u ;

angelo82:
This is an example of what you should expect when this government finally settles down.................Stability..........

Hopefully , are u observing Access sir

angelo82:
At least market knows now that Buharis cabinet list will be ready by September.......................

Hope by sept , portfolio won't be down by 50%.. still have to battle with Aug