₦airaland Forum

Timmi:
CBN held a T-bill auction earlier today, where it sold N32.4bn 91-day bills, N22.8bn 182-day bills and N55.7bn 364-day bills at 8.10%, 9.20% and 12.48% stop rates respectively. These stop rates were higher than the last auction on the 4th of May, most likely in reflection of the higher yields in the secondary market.

angelo82:
.That kind person will be the real Monkey.

jideflash:
as fbnh marked down

9free:
I wouldn't mind it carries it to N30...

citizenisb:
http://nairametrics.com/here-is-why-devaluation-could-be-catastrophic-for-first-bank/

Another round of devaluation of the naira will compound the woes of First Bank Plc as over 50 percent of the lender’s spiralling non performing loans (NPLs) are dollar denominated, analysts at Ren Cap say.

First Bank has suffered a significant drop in profit caused by huge impairments on financial assets otherwise known as loan loss expense.

NPLs increased to 22 percent in the first quarter of the year, fuelled by exposure to the oil and gas.

This figure crosses the 5 percent threshold questioning the risk management strategy and portfolio management of the bank.

The bank’s risk assets managers failed to diversify or minimise risk and maximise return.

A possible devaluation of the currency is inevitable given the continued depletion of the external reserves and rising inflation.


“Another related asset quality concern is that 56% of the bank’s NPLs are FX, which implies that if devaluation occurs, coverage levels would fall, with the bank needing to set aside more naira earnings to cover these greenback NPLs. In light of this, it is quite difficult for us to get comfortable with a coverage ratio of 37 percent”, said analysts at Rencap.

NuttyChoky:
http://nairametrics.com/here-is-why-devaluation-could-be-catastrophic-for-first-bank/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost

UNIBENDON:

angelo82:
God is miraculous,more Greens to all our portfolios.

NuttyChoky:
My recommendation: BUY

Rationale: Cum Div (N3.00), Bonus Shares, New Line, Gas supply agreement concluded with Seven Energy

currentprice:
how many remain? then go finish am before 2.30pm

Godisfaithful:
Sir Lancee, who told you your friend hasn't position himself ahead of bullish euphoria syndrome of NSE

feelamong:
FCMB has a lot of bad loans provisioned made from the Upstream sector of Oil and gas..

with the deregulation....many of these provisions when recoveries are made would be written back as profits....