ExLaidback:



Well in summary according to them,

They understand that revaluation gains from FX at this magnitude is not long-term sustainable,

So knowing this they took advantage of a recent CBN circular to make additional provision on collective and specific impairment as a form of prudence. In other words they probably didn't have to provide as much as they did.

This act offers up two advantages,

1.) They were able to knock off a significant portion of their NPLs and bring the ratio down within regulatory approved limits (and also improve CAR?) while still spotting some decent profits
2.) The thing with provision for loan loss as against loan loss charges is that in subsequent accounting periods it can be brought back in to income when they recover the loan - right? So they are kind of preparing for a drop in future income with this too.

This is my layman understanding.

That result is not bad and they have emphasized it severally that they will clean up their balance sheet which is what they are doing.The summary is that bank is not the same like it was last year and they are better but still trying to be better.

angelo82:


That result is not bad and they have emphasized it severally that they will clean up their balance sheet which is what they are doing.The summary is that bank is not the same like it was last year and they are better but still trying to be better.

I know the result wasn't bad. I previously thought it was bad when they brought out the one with the wrong figures. When they corrected it and I listened to their call, I realised the loss isn't that bad. That's what I've tried to explain by calling it artificial

Morgan is back but not updated. I was able to login without any issue. with this I'm sure their tomorrow is sure for trading

ExLaidback:



I know the result wasn't bad. I previously thought it was bad when they brought out the one with the wrong figures. When they corrected it and I listened to their call, I realised the loss isn't that bad. That's what I've tried to explain by calling it artificial

FCMB says plans 7.5 bln naira Tier-II debt issue
http://af.reuters.com/article/nigeriaNews/idAFL8N1DQ3BF

emmasoft:
Morgan is back but not updated. I was able to login without any issue. with this I'm sure their tomorrow is sure for trading

I doubt if the problem is with logging in. Are you able to trade??

From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.

Good morning all

Born2berich:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.

Good morning all

cheers for share, my sentiment

fxuser:


FCMB says plans 7.5 bln naira Tier-II debt issue
http://af.reuters.com/article/nigeriaNews/idAFL8N1DQ3BF

Yeah I heard the news earlier, in fact they've gone far in the process but I'm still yet to fully understand how exactly his will impact on their result, I know it's meant to improve their CAR though.

ifeykay:

I doubt if the problem is with logging in. Are you able to trade??

Access is better but I doubt if one will be able to trade today.

Zenith
- drops to a 3 month low , breaking below N14
- further down side in play

kolaish:
FINALLY, MORGAN IS BACK.

Yes they are

Cadbury
-full bid on friday and today

kolaish:
FINALLY, MORGAN IS BACK.

The saying that you don't value what you have until you loose it holds true for Morgan itrade.

Having said that, they desperately need to improve on their customer care services. I think traders in this forum can help them too. Let's send them mails demanding an improvement in their services not that we are obliged to but out of necessity. My two cents.

I use Morgan itrade and wstc-etrader- very good also betters Morgan itrade in my opinion.

kolaish:
FINALLY, MORGAN IS BACK.

PUMP UP THE VOLUME the stockmarket purgatory is over.we are still making money this year.
I have limited quantities of unic insurance shares for sale on first come first serve basis

where is LOCO ?

morgan is here again

oya copy and post continues

Dwizeone:
The saying that you don't value what you have until you loose it holds true for Morgan itrade.

Having said that, they desperately need to improve on their customer care services. I think traders in this forum can help them too. Let's send them mails demanding an improvement in their services not that we are obliged to but out of necessity. My two cents.

I use Morgan itrade and wstc-etrader- very good also betters Morgan itrade in my opinion.

Hi,

Please whats their commission for WSTC, i.e. buying and selling

Afri-Prud
- jumps back above N3

Access
- crosses 5.80 !
- wit above avg vol

Morgan Capital is back but no access to pre-market and that is not morgan fault but users who do abracababra

fxuser:

Zenith
- drops to a 3 month low , breaking below N14
- further down side in play

Thats true, offloading zen, gtb, access this week. ThankGod Morgan is back...

fxuser:

Afri-Prud
- jumps back above N3

I saw it at 2.94 last week and my jaw dropped. While people were obsessing with UCAP et al this one was just slowly inching up. Na wa

Born2berich:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.

Good morning all

/
Good points!

Although these should be the guiding principles of life.
\

fxuser:

Afri-Prud
- jumps back above N3

I can remember the last argument we had here on Afriprud.....

The High Interest rates would do these guys well..

Thank God I managed to buy more at 2.55

ExLaidback:


Hi,

Please whats their commission for WSTC, i.e. buying and selling

its high though, 1.35 on both but you can negotiate the commission down if you command high volume, they usually consider HNIs and institunioal investors.

currentprice:


base on this report. I still prefer Afriprud to this UCAP

hope it fall to N2 for big loading

ExLaidback:


I saw it at 2.94 last week and my jaw dropped. While people were obsessing with UCAP et al this one was just slowly inching up. Na wa

brov,,, it pain me I too slow to enter the stock was watching and praying to touch N2 with the market condition as quoted above after their Q3 released... but no I missed it at N2.49

I still say it Apriprud is undervalued compare to UCAP which is rightly price.

currentprice:





brov,,, it pain me I too slow to enter the stock was watching and praying to touch N2 with the market condition as quoted above after their Q3 released... but no I missed it at N2.49

I still say it Apriprud is undervalued compare to UCAP which is rightly price.

AfriPrud got just a 3rd of UCAP's SO.
Dem be sisters

currentprice:





brov,,, it pain me I too slow to enter the stock was watching and praying to touch N2 with the market condition as quoted above after their Q3 released... but no I missed it at N2.49

I still say it Apriprud is undervalued compare to UCAP which is rightly price.

in fact I don't even know again sef... Afriprud has not been on my primary radar to be frank, I was targeting them for q1 next year, but it now seems that then may be too late...Anyway we are watching

Dwizeone:
its high though, 1.35 on both but you can negotiate the commission down if you command high volume, they usually consider HNIs and institunioal investors.

Thanks, in Morgan we trust then

ExLaidback:


in fact I don't even know again sef... Afriprud has not been on my primary radar to be frank, I was targeting them for q1 next year, but it now seems that then may be too late...Anyway we are watching

looks like a fake out !
bids dried up
we wud know by 2.29pm

Forte Oil
- full offer , no buyers .
- drops below N60

#nawa who Otedola offend ?

fxuser:

Zenith
- drops to a 3 month low , breaking below N14
- further down side in play

bears no gree !
SP drops further
bargain hunters will be watching this very closely if there are any left sef