₦airaland Forum

nosa2:
I'm telling you. Down about 11% and counting.

Forward PE: 1.67
Price to book: 0.3

Who price epp? Make market dey do tombolo tombolo dey go.

Access might be going back to N20 again.
We will go and wait at that junction.

nosa2:
I no sure say I go sell Access soon.

I am reading the bearish analysis/comments but I think everything being mentioned right now is either gossip or has been factored into the price.

For a bank to be trading at 33% of book value no be beans oh. A lot of negativity has been priced into that valuation

Most of those making comments about access bank have not read the financial statements. It is more of gossip and sentiment.

rmx:
Those inefficiencies are to a few peoples benefit , maybe deliberate

I believe that in all those expansion across Africa were embedded some deals for the boys , that era is hopefully over now with the cbn directive and posture

The narrative that those expansion across Africa are not bringing in profit should be ignored as they have no factual basis. More like a beer parlor gist
Access has branches in about 14 countries in Africa. From 2025 AFS, it is only in two countries that losses were made. If we aggregate the Africa operations, the balance sheet and the profit margins are even better than the Nigeria branch.

nosa2:
I didn't make my post expecting 99% of the readers to agree with me. For practically all our lives we have been told that corruption and electricity are the two biggest problems Nigeria faces. When in reality, the belief that corruption and electricity are the biggest issues is actually the biggest issue.

We could spend the next few hours debating this claim, and maybe I would be able to convince one or two people but at the end of the day it will be like trying to drain the ocean using a tea spoon.

That was how we ended with the calamitous Buhari.
The erroneous belief that corruption is our biggest problem and that Buhari would be able to tackle it. Once he did, that 99% of our problems would be solved so we were told. That was how they packaged a dullard to be voted a president. We are at it again.

aj8:
Good Saturday morning BabsO2, Wema is probably the only Bank spelling it out in their weighted average. You can do the maths for UBA and ETI and kindly reflect it here if it differs. I did the maths, but willing to take corrections if they differ. At least we are stimulating discussions to improve our stock picks. Iron sharpenth iron.

I really appreciate you for your contribution on this forum.
I have two major concerns with access bank. One is the fair value and foreign exchange gain of about N220b ( over N1 trillion in full year 2025). I am still going through the report to see what exactly they are doing differently from others that they are still earning this huge amount from this line item.
Do you think this is sustainable?

ojeysky:
You mean UBA made an announcement similar to what access made? at: https://theaccesscorporation.com/wp-content/uploads/2026/03/Access_Holdings_NGX_Announcement_FEB.pdf

Do you mind sharing reference to that? I may have missed it. If it is true then I stand corrected not only access played dirty in this context then

https://doclib.ngxgroup.com/Financial_NewsDocs/45673_UNITED_BANK_FOR_AFRICA_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_JANUARY_2026.pdf

Yoursfaithful:
Leave am make he dey explain..what's the benefit of investment without single return to shareholders..no emotions in this market.any stock that underperform we move..we come back when they are ready for business and tidy up their books

We the latest results from access, the bank is definitely a buy.
I just don't think it is necessary for someone to think he has to defend a stock because he has a stake. The market should be allowed to do it's thing. Anyone that wants to sell should sell and those who want to buy should buy.

EDUECO:
I am buying more ACCESSCORP shares for my Investment or Dividend portfolio.

ACCESSCORP is grossly undervalued with respect to its asset and equity.

I don't think you need this.
You are not the only one that holds access.

Agbalowomeri:
What about me that have categorically stated for months that ACCESS will not pay dividend? You don praise me?

Na you cause am. Access would have paid dividend

emmanuelewumi:
He is buying na. PE of 2 no be beans

Comparing Access and UBA results, it is not difficult to see which one offers best value for money at current price.

nosa2:
I am definitely trading Access on Monday. Whether I am buying or selling, I will only confirm after my trade.

You are definitely buying
Access is still the cheapest bank with the latest results.

Streetinvestor2:
Ana only for bank such dey now

And insurance.....

Sunrisepebble:
I will be very happy to buy if it comes down to N100

We are in a bull market, NAHCO might not shed much not even with the flat result.

HesInMe:
Lol. No be fight na. We're together. You make a good point.

So how much of the slow-down in NAHCO's revenue would you ascribe to the Gulf war?

The slow down in growth didn't start from this quarter.
A comparison of quarter on quarter for the four quarters in 2025 will show some interesting information.

https://www.thecable.ng/breaking-tinubu-sacks-saidu-mohammed-as-nmdpra-chief-nominates-rabiu-umar-as-replacement/

Dangote ti take over.

KarlTom:
Is that ₦7.9 [annualized] EPS from WEMA?

Yes, it is annualized.

emmanuelewumi:
This is what a Tax professional said about my question

If that is what your tax man said, no wahala since he is the one mostly likely to help you file your tax returns..
In filing my returns,I noticed there was not so much emphasis on what you own and what you sell, it is more of what you have in January versus what you now worth at the end of December of the tax year.

emmanuelewumi:
How will this be treated for Capital Gain Tax. An investor sold Nahco shares at a profit of N50 million. He reinvested the proceeds by buying Zenith Bank shares which he held for 2 months before he sold it at a loss of N5 million.

Will Capital Gain Tax apply in this case?

You will pay CGT o . The profit is now N45m.

Agbalowomeri:
ACCESS say make una wait small as their Director dey retire

https://doclib.ngxgroup.com/Financial_NewsDocs/ACCESS_HOLDINGS_PLC_-_Retirement_of_Mrs_Chizoma_Okoli.pdf

The way you dey monitor this access is becoming something else o
We the shareholders in Emma's word have no option at this point than to wait for the result

ghm:
Recommendation for the Executive(Presidency) Considerations

I think the Presidency needs to step in, not to break the CBN, but to broker a sensible timeline.

The stock market has been one of the few positive stories of this administration. By asking UBA not to pay dividends, the CBN has triggered a contagious sell‑off across banking stocks. If they do the same to AccessCorp and FBNHoldings, the drop will be massive – and that damages confidence far beyond the banking sector.

We are not saying the CBN should stop regulating. Prudential rules are necessary. But regulation must consider the real‑world impact on the economy and on millions of shareholders.

The current one‑year forced provisioning for legacy FX loans is unnecessarily brutal. Instead of one year, why not use two years to write off those loans? That way:

1. Banks can still pay partial dividends (e.g., 40% of prior year) if they meet quarterly provisioning targets.

2. The CBN still gets a clean banking system by mid‑2026 – just not overnight.

3. The stock market avoids a crash, and the administration keeps its visible success story.

What I am not asking for is a public fight or a crude “calling the CBN to order”. That would harm regulatory independence and scare off foreign investors. Instead, the Presidency should quietly ask the CBN to issue a revised circular – with forward‑looking, clear rules – that allows a 2‑year transition and tiered dividends.

That is the win‑win: the CBN cleans up the books, banks survive, shareholders are not wiped out, and the market rally stays alive.

So the CBN should surrender her independence to the presidency in order to please some shareholders.
The CBN is doing her job, which is primarily to protect depositor funds.
There is a clear guidelines on payment of dividends which is not specific about a particular bank.
I think UBA fell short on the NPL ratio. From the interview granted yesterday it was clear their NPL was above the maximum ratio stipulated in the guidelines for payment of dividends by banks.

Agbalowomeri:
Abi I never wake up

Abi no be comprehensive loss I dey see so?

Hope we are not going back to the era of extraordinary items

ositadima1:
Lol, that UCAP own, I’ll come back here to announce it when it hits 30–50%. As usual, they’ll all go silent or claim they called it long ago. Lol

Has anyone said UCAP cannot do 30 to 50% in no distant future?
Based on annualized 2.2 that is very possible but it would be out of place for someone to be making calculations based on annualized EPS of N8.

ositadima1:
Okay, one-liner comments can have multiple meanings, so I had to clarify.

Na night school some of us attend
It is good we have people like you on the forum who sabi English well well

ositadima1:
Look well, their equity and debt instruments have been revalued upward, this has nothing to do with today’s rush by retail traders to sell UBA.

We are saying the same thing nau .
Na you they speak English

Mankind2024:
compounder stock ✔️
+/_N35 by Q4
Conservative PE for UCAP = 5x
EPS = 8.72
Fair value =
8.72 × 5 = ₦43.6
Moderate fair value (PE 4):
= ₦34.9
Deep discount fair value (PE 3):
= ₦26.2

My brother that eps is already annualized.
Don't let them wounjure you with fantasy eps o

Agbalowomeri:
Lol dem don dey incorporate fair value gained

You see am too