₦airaland Forum

owoblow77:
What da fuuuuckkk. All my orders show expired

OakPearl:
We have had one of the most engaging, educative, and co-operative era here in the run up to this MTN listing.
It tells a lot about the intellectual fire power in this NSEMPA arsenal.
Well done all contributors and members on this thread.
Thank you MTN for the surge you will bring to the NSE ASI (over half a billion naira traded in minutes)!!!
Value investors, make your money now even without investing in MTN if you like (you know what I mean).
Cheers to all the Ogas and madams.

OakPearl:
NSE thank you oh.
MTN kwenu!
Una don help me load more of my beloved Zenith first batch @ a beautiful sub N20. I remember when you were costing N50 or so per share.
Make una try reach my bid junction for UBA today biko nu.
My "pension stocks" annual returns just got a huge boost.

rebekah2011:
http://www.nse.com.ng/Financial_NewsDocs/26190_CHAMS_PLC_CORPORATE_ACTIONS_MAY_2019.pdf
http://www.nse.com.ng/Financial_NewsDocs/25430_CHAMS_PLC_FINANCIAL_STATEMENTS_MARCH_2019.pdf

I think that these people are trying to confuse person oooo. I do not understand, can someone please help me to interpret this NOTIFICATION.

stcool:
They have started with their estimates... Retail investors may not get this one until they have taken it to 180-200

https://businessday.ng/technology/article/updated-offers-fly-in-from-investors-ahead-of-mtns-listing/

MTN would be listing about 20.35 billion shares, at possibly an N80-90/share price range, according to the consensus analysts’ estimates.

That would value the stock at around 5 times Earnings Before Interest Tax, Depreciation and Amortisation (EBITDA). That’s almost half the frontier average, suggesting that at N90 per share, MTN will be undervalued compared to telecommunication companies in frontier markets.
Analysts at Cordros Capital believe the stock is worth NGN194 per share, implying a 116-143 percent upside on the proposed listing price.

On this basis, it is quite understandable that investors are falling over one another to get a hold on MTNN’s stock.

Afamed:
I paid N4000 for 12.5kg this morning sir.

NaijaProxyBase:
I'm not a scammer bro, but America must obey

NaijaProxyBase:
IF yahoo-yahoo is easy, why not buy laptop and make millions for yourself. Some ppl dey shout legit, whereas na opportunity to scam dem lack. Hypocrites everywhere.

NaijaProxyBase:
Yahoo this...Yahoo that. Jealous people.

dammybrite:
Can PZ still rise again? What exactly is wrong with it?

Kagame:
FBNH has like another 3-4 yrs before it fully recovers.Normally,if you are an SIB and your NPL is above 5% upwards to alarming levels,CBN will invite you to present a 4yr remediation plan which I think FBNH did in 2015.

As you rightly pointed out ,the books will improve this year but that’s just halfway through the journey.This year,FBNH will likely write off over N300bn from their loan books due to Atlantic energy. For proper context, FBNH has made total NPL provisions of over 500bn since 2015 but yet, this huge amount only gives just over 80% (about 70,if you use IFRS 9) coverage ratio, this is really unprecedented in the history of Nigerian banking industry, smaller banks would not survive this ~ the rot is really deep.

If you look at their 2018 audited results, you will realize that NPL increased to about 29% from 25% . Why? The implementation of IFRS 9 which provides for proactive loan provisioning.With this accounting standard, there’s another N200bn of loans which has been moved to stage 2 (payments of interest and principal missed for 9months or so).

With the possible write off this year, NPL ratio will come down to manageable single digit but the bank will require more capital which means they will have to retain a lot of their profits and pay less dividend for a few yrs cos they can’t even come to raise Tier 1 from the market ~ they already have the biggest number of shares among listed banks and the current pricing is not favorable. As a matter of fact , the GMD of FBNH admitted that the bank (First bank) will not upstream dividend to the holding company except they make a significant recovery from their bad loans.

I have a positive bias for the current management, they are not afraid to let you know how bad things are ,which is good cos they were hired to clean up the mess. I believe in a few yrs when they are done with the transformation, the bank will come out stronger and will reward investors by way of capital appreciation and dividends . But there’s something very Nigerian (apologies) about FBNH that tells me that in a few years, probably in 5yrs time, after the current management might have left, the bank will return to old ways of sharing the “national cake” like we do in Nigeria.To avert this , the culture of the bank needs to change to one of excellence and efficiency like their peer GTB.

On current prices,if I’m to invest in any Nigerian bank with the aim of making my return in less than 10yrs , I’d put my money in Zenith ~ heck it’s 14% dividend yield and they are sitting on tonnes of cash by way of shareholders funds, I only worry a little about their corporate governance and their inability/reluctance to crack retail banking.That explains why investors price them a lot lesser than GTB.

If I want to make my return in 15yrs without checking the NSE everyday and probably retain some hope of transferring equity to my grandchildren,then GTB is it. But it doesn’t come cheap because ,no be only me dey see am, institutional investors wan die there!

There could be other good banks, but I’m sorry they are not on my radar for now.

Apologies I had to quote you with this long epistle, I only wanted to write briefly about FBNH but I found myself delving to other things.

phransix2:
I don't like that Ganduje for anything, Even his looks sef looks like a joke... But what do I know? Kano people love him and made him their governor even for the second time...

rebekah2011:
Whatever the market likes it can do. All I know is that buying Zenith at this current price is good. If it goes lower, then you will buy more.

rebekah2011:
For some stocks it is predictable. In the last 5 to 6 years, the dividend from Zenith has been growing. Projecting it to touch N3 this year.

valacious:
wondering why no one is breaking the bank to load Zenith....almost 13% dividend yield....add the Emefiele factor...then Zenith is diamond!
85% of my portfolio now.
#FOCUS.