₦airaland Forum

RabbiDoracle:
Bro, read the key audit matters. There you will see the level of impairment exposures flagged by auditors.

Zenith had it and compare the impairments of Zenith in the P/L accounts with what was stated in the key audit matters.

ETI had it and then you compare the impairments of ETI in the P/L accounts with what was stated in the key audit matters.

Now UBA has it. So compare the info on the key audit matters with what was stated in the P/L accounts. Marked difference!

These differences should be raised in these banks' conference calls.

robobo:
Oga Oracle

i have checked the Key Audit matters and i cant deduce anything untowards or should be of concern in it. it only mentioned the total loan size of UBA and the impairment figure which is available in the AFS and also the fact that the auditors tested the models and parameters used to arrive at the impairment figure, which is normal for statutory audits. yes i understand your concern that UBA impairment is quite low compared to peers (Zenith / ETI) but the concern here is the exposure to Ghana sovereign bond and not credit in itself. So if UBA is not as exposed to GoG as its peers it is normal that it would also be less impacted by the haircut arising from GoG bonds. or what do you think? would appreciate your further discussion on the issue

leparj:
Good one.
Diving in to get more UBA shares tomorrow.
Won't buy more than N8. sha.
If it rises tomorrow, will let it be and buy lower later.

robobo:
Oga Oracle

i have checked the Key Audit matters and i cant deduce anything untowards or should be of concern in it. it only mentioned the total loan size of UBA and the impairment figure which is available in the AFS and also the fact that the auditors tested the models and parameters used to arrive at the impairment figure, which is normal for statutory audits. yes i understand your concern that UBA impairment is quite low compared to peers (Zenith / ETI) but the concern here is the exposure to Ghana sovereign bond and not credit in itself. So if UBA is not as exposed to GoG as its peers it is normal that it would also be less impacted by the haircut arising from GoG bonds. or what do you think? would appreciate your further discussion on the issue

BabsO2:
You may be lucky to get some of the left over offers at N8 of yesterday if the sellers don't quickly cancel their sell offer. And if brokers don't quickly corner any left over for a quick buy and sell game. About 860,000 units closed on offer at N8 yesterday.

Looks like market never open.

BabsO2:
I was thinking perhaps UBA had less exposure to Ghana because, it maybe had more exposure to funding Transcorp and didn't have much to diversify into Ghana sovereign bonds as a result. NB: Just a thought, not based on any cross-checked information. But penciled down to find out more info

ucheson2:
What is the matter with ngx today?

Even Morgan and Meristem websites are not responding.

Mfunkynation:
Transcorp,
Ucap, MTN, Custodian, Afriprud, Lasaco, NB, Uba, Zenith, Wapco.
#DividendsHunting

seyisanya:
The UBA rush!

seyisanya:
The UBA rush!

ucheson2:
Exactly
In fact that is the problem I have with Morgan and Meristem, whenever people need to rush in or out of the market that is when they will deliberately pause their websites. Later now they will come up with their usual maintenance excuse.

RabbiDoracle:
Yes, UBA had lower debt loss than Zenith on GoG debt. 17.9B vs 58.6B. But Zenith bank took 123B impairments as seen in their report because that impairments contain loan losses to customers.

However UBA only took a total impairments of N41B (notes 12a and 12b) compared to gross loan loss of 82.8B (key audit matters) and GoG debt of N17.9B [these losses are N100B in total] . What happens to the remainder in the loan loss to customers?

Will UBA stagger these in the quarterly reports in 2023 financial year?

Zagee:
We will have to go to court for Morgan Capital

yMcy56:
Morgan is working on it.
They said it will be up as soon as possible.
#Elofokanbale#

lancee:

ucheson2:
Exactly
In fact that is the problem I have with Morgan and Meristem, whenever people need to rush in or out of the market that is when they will deliberately pause their websites. Later now they will come up with their usual maintenance excuse.

onegentleguy:
Final Dividends Distribution Paid/Payable So Far in 2023

CBP ✔️(Paid)
Prop Div...5k
PD....Jan 27
QD...Jan 18
Paymaster; Light House

AFRILAND PROPERTIES
Prop Div....10k
PD....Apr 18
Paymaster; African Prudential

IKEJA HOTELS
Prop Div....7.5k
PD....N/A
QD....N/A
Paymaster; GTL

SAHCO
Prop Div....16.5k
PD....N/A
QD....N/A
Paymaster; First

#copied

yMcy56:
Morgan is working on it.
They said it will be up as soon as possible.
#Elofokanbale#

Mfunkynation:
is Morgan capital working?
mine is not opening

yMcy56:
LASACO......full bid @1.10...... IKEJA HOTELS......full bid @1.22......
LASACO tried. Could remember we discussed on LASACO in some occasions here. Locodemy must have Japa from the stock since..... Over 32M+ full bid....

RabbiDoracle:
Yes, UBA had lower debt loss than Zenith on GoG debt. 17.9B vs 58.6B. But Zenith bank took 123B impairments as seen in their report because that impairments contain loan losses to customers.

However UBA only took a total impairments of N41B (notes 12a and 12b) compared to gross loan loss of 82.8B (key audit matters) and GoG debt of N17.9B [these losses are N100B in total] . What happens to the remainder in the loan loss to customers?

Will UBA stagger these in the quarterly reports in 2023 financial year?

RabbiDoracle:
Yes, UBA had lower debt loss than Zenith on GoG debt. 17.9B vs 58.6B. But Zenith bank took 123B impairments as seen in their report because that impairments contain loan losses to customers.

However UBA only took a total impairments of N41B (notes 12a and 12b) compared to gross loan loss of 82.8B (key audit matters) and GoG debt of N17.9B [these losses are N100B in total] . What happens to the remainder in the loan loss to customers?

Will UBA stagger these in the quarterly reports in 2023 financial year?

yMcy56:
Morgan is back!

ucheson2:
madam I am beginning to suspect that you are a staff of Morgancapital