₦airaland Forum

Diamond Bank Conference Call for Results
Diamond Bank Plc will be hosting a teleconference call for analysts and investors on Thursday May 24, 2018 at 3pm Lagos with its senior management to discuss Diamond Bank Plc’s financial results for the full year ended December 31, 2017 and first quarter ended March 31, 2018.

There will be an opportunity at the end of the call for management to take questions from investors and analysts.
The teleconference call facility can be accessed by dialing:
UK Toll Number: +44 3333000804
UK Toll-Free: 08003589473
South Africa Toll Number: 0800111446
USA Toll Number: +1 6319131422
Nigeria: +234 19030080
And then entering the following access code: 74513764#

Participants should register for the call at least five minutes before the start of the presentation.

A pdf copy of the presentation will be posted to Diamond Bank’s website on the morning of Thursday, May 24, 2018 at www.diamondbank.com

Opportunity to ask all your questions. Unlike the AGM, they cannot control who is asking questions.

valacious:
lessons learnt...never buy hope...buy what you see(results)! #FIDELITY

We are FIDELITY we keep our words.

Chibuking81:
Which direction will this over 700 billion share by FAAC push the market to?

Any available money now is for ELECTION. Good time to be cash RICH.

Yayira:
So that was how UPL result vanished and never reappear.. What kind of mistake is that? NSE just dey spoil show sha

Na goat chop am

Cadillac15:
You have achieved your aim with your analysis paralysis

Seriously?

Me i no know book ooo

aremso:
u may minimize your loss cos I believe df will take more bow

Why? Has Dangote divested? What has changed?

aremso:
huge error in selling power and upstream, I know Ghana entity many not make profit but power and upstream make good profit. all other major has other businesses but for is putter all her eggs into one basket cos of dangote......

They are concentrating in an area they understand and have core competencies. Capital requirement for power and upstream is huge. The profitability of power and upstream businesses is exaggerated. Drilling one dry hole can sink a small company. OandO is seeing that upstream is not child's play.

Chibuking81:
Is like some people want FCMB to visit Diamond bank at 1.50.
On serious note most bank in Nigeria misbehave. My UBA current account that I stopped using since more than 10 year ago, has kept on minus money from the account. I remember having up to #5000 in that account, but now its balance minus they are sending to me, even the account has entered dormant for more than 10 years now, and my BVN was not link to the account .

On Access bank, I open IPSA account together with pure saves account in intercontinental bank, now access bank, the IPSA account operate more as saves account. In my IPSA account, I left balance of about #6,000, with the bank, and #3,000 in the saves, At a time they started calling me to start patronising them again.

But what surprises me was that, they produces two ATM card, minus the charges of #1,050 each from my both account and the card continue leading, each month they will deduct #50 each for service charge from my account, till all the balance I have in the account finished. The worse is that, no alert was coming all these while. I only noticed, when I wanted to resume my banking with them.

After complaining, they did nothing, I was only informed that I ordered for ATM card last two years, and it will expired by next year. I never ordered for anything, I never received or activate any ATM card. I ended up asking for the blocking of the two card meant for the two account, and requested for alert service to be linked to my email and my phone.

I started using the account again, with new ATM card and #1050 x 2 was minus for the two card as a service charge, within 5 days which was by the months end, I received four debit alert for four ATM card charge, I.e two for each account. This time I sent threaten e-mail message to their head office, within some hours they apologize and reverted the charges.

Nigeria bank are not efficient, if this should happened to the little amount I have in my account, what of millions and billions of naira of deceased customers, or those who are wrongly sent to prison, or those abroad. Some of their staff that can view customers balance, might even plan evil against the customer.

Not withstanding, we still have some good one among them, but bad one are on the increase.

Make sure you CLOSE any account that you are not using. Soon the information will be with the credit bureau that you have overdrawn your account with banks hence you are not credit worthy.

Nigerian banks make 'easy' money hence they are not bothered doing 'REAL' banking business.

gloriousdawn:
Can any Ogas comment on the N138.126billions (i.e about N4.39/Share) that Zenith bank wrote off their Retained Earning in 1st quarter 2018 report, they tagged it "IFRS 9 transfer to loan reserve". You can find this transaction in the "Statements of Changes in Equity".

Sorry for taking us back.

They implemented IFRS 9 in Q1 2018. It deals with financial instruments. That transaction deals with how impairment is treated under IFRS 9.

Can Milost come and inject $300m into Diamond Bank?

Kolping:
Nairametrics - May 16, 2018

Diamond Bank - Alone in the wild

If your interim or full-year results are bad, then it’s typically the norm to release them on Friday, hours after the trading must have been closed. So, we were not surprised when Diamond Bank released its much awaited 2017 Full Year results a few minutes after close of trading on Friday. Just like we expected, the results were bad by most counts.

Diamond Bank reported a loss after tax and before discontinued operations of N12.89 billion. Gains from the sale of its overseas subsidiaries (Diamond Bank UK) helped reduce the losses to N9 billion. The losses, as you would come to expect, were induced by a N56.8 billion provision for loans that have been impaired (gone bad). The last time Diamond Bank reported a loss was in 2011 where they reported a loss after tax of about N13.9 billion. Back then, the loss was induced by (you guessed right) another N55 billion loan impairment.

Since 2011, Diamond Bank has now taken total loan provisions in excess of N290 billion. That’s an incredible accretion of capital from one of Nigeria’s oldest banks and one that you will expect to be vying for the Tier 1 status.

So what went wrong?

Poring over the results, we observed two major reasons for the disastrous result. Firstly, Diamond Bank reported that its loan to Geometric Power was impaired by about N45.7 billion. The bank granted Geometrics a N49.3 billion loan in the third and fourth quarter of 2017, contributing to the N56.8 billion loss recorded due to impairment.

A brief background of Geometrics Power

The company was founded by Professor Barth Nnaji in 2000 as one of the first private power companies in the country. However, it has been embroiled in one controversy or another over its power supply deals to Abia and Enugu States. This has resulted in loss of revenue, unpaid debts and rising overheads. Quite frankly, the company can’t meet its debt obligations.

Diamond Bank is an equity partner in the project and owns about 25% of its equity valued at N2.49 billion which it has since been written off. Unfortunately, the bank still has about N49.3 billion in loans, granted since 2011, that has now essentially gone bad.

The second problem Diamond Bank has is also with its non-interest income which dipped by 24% Year on Year (YoY). A closer look reveals that the company recorded a quarter on quarter dip in revenues dropping from N36,481 to N10,721, N9,178 and N 5,106 in the first, second, third and fourth quarters respectively.

Fundamentally, the bank is struggling!

Is the bank healthy?

Diamond Bank reported a Capital Adequacy Ratio of 16.5%, 1.5% above the minimum 15% stipulated by the Central Bank. On this basis, one can safely infer that the bank is healthy. The bank has deposits in excess of a trillion and net assets of about N223 billion. For proper context, their balance sheet is still bigger than Stanbic’s and FCMB’s.

However, Diamond Bank’s position as one of the leading Tier 2 banks is under threat. For example, despite its N223 billion net assets, its market capitalization is N44 billion. Now, compare this to Stanbic with N180 billion net assets and N492 billion market capitalization.

Do I sell my shares?

Ironically, I have a BUY rating for Diamond Bank with a long term outlook. I mean, how low can it still go? At 0.18 price to book ratio, the stock is cheap despite its weak fundamentals. However, I do not expect anyone with a short term outlook for their investment to hold on to this stock. Diamond Bank’s year low is around 88 kobo and that was about this time last year. Since then, the stock is up 90% and is likely to fall further as all the debris created by this results fall over.

It is important to note that Stanbic Nominees sold down from about 11.99% to 8.52% resulting in a sale of over 800 million units.

It cannot be true that they still gave GEOMETRIC Power almost N50bn in Q3 and Q4 2017! What for??

currentprice:
Thanks for the bolded, CP post stock pick base on numbers obvious to every eyes, you can never see cp posting stock like champion brew because of selfish interest.

anyway it normal for PETER to call for head because he believe stock cp post must continue moving up in one straight line

Why is CP not recommending Champion Brewery??

rebekah2011:
I just feel for those doing emotional investment in Diamond Bank. The bank is going down and people are still hopeful. It will end up like Skye Bank very soon. It would not be bad if people are targeting to buy at 50kobo or 20kobo. When there is a red flag on a stock, it is a time to move on and never look back again. I need someone to check for me when last Diamond paid dividend. It will likely top 7/10 years.

People are not BUYING because of PERFORMANCE. They are buying because they think there is 'money' to be made irrespective of performance. No one is saying anything about HOW Diamond's management will turn the company around. Nothing about what will be done differently. Nothing about strategy going forward and how they will compete with other banks. It is all about PRICE and nothing about PERFORMANCE.

That's why I wish Onwuka Interbiz is still listed on the NSE. People can use that to perfect their 'gambling' skills

What of Nigeria Wire and Cable self?

Chibuking81:
https://infoguidenigeria.com/oil-well-owners/

Conoil DOES NOT export 200,000 bopd! Na water??

Parisfran:
There is nothing exciting in JBerger result. All I see is a strategic disclose of foreign exchange loss. Let us also observe that they refused to put a disclosure note on anything relating to foreign exchange movement both in the SCI and the OCI.

1 Gross profit fell year on year
2 Operating profit also fell year on year
3. 13 directors went home with over N500m
4. Most key management staff are not shareholders.

The most profitable thing in JBERGER for me would be to become a staff not a shareholder. Staff cost is juicy.

I don't like raining on any body's parade, but if it is 2017 FS that wants to make this stock fly, then I am waiting.
It's PE is over 8. It's price to book is 1.2. Dividend yield is like 3%.
Honestly, not an impressive result at the current price.

If the stock price goes up from current price, then congratulations to the market for proving me wrong.

I deliberately ignore Q1 result for personal reasons.

Dont bother yourself. People see what they want to see!

When they get trapped, eye go clear!

ogedanny:
You guys laughed at my stocks picks when I shared my recommended stocks to buy here - (CCNN & BetaGlas) on May 5th - http://nigerianstockstobuy.com/top-performing-stocks-watch-2018/ - Go check the price of these stocks now and tell me if you wouldn't be in the profit zone.

All you claiming financial analyst with 10-years experience, here is my advice - your complex maths isn't 100% foolproof..they taught you DCF in MBA or whatever business school, but my simple guide keeps making money in stocks.

You must be a billionaire now. Congrats.

Instead of stock picks, just dash us some money as we be 'LAZY YOUTH'

wanaj0:
If person go chop Lizard, at least chop the one with egg

Out of ALL the banks on the NSE, why will I look at Diamond? Is it the wonderful management, great performance or just for my gambling experience

I am still trying to understand what make some people to buy certain stocks.

Seems there are many people playing lottery with their money.

It is a pity no more share certificates again. Because with what some people are doing, the only evidence of there shareholding will be the framed share certificates because the companies will be LONG dead!

When you have banks granting loans to directors, major shareholders etc, you don't need a soothsayer to tell you to flee! Not sure why people cannot FLEE all appearances of evil.

Mcy56:
Abeg make somebody help us out here o.

There is a register kept containing the list of all shareholders. Closure of register is the period used to UPDATE that register.

emmanuelewumi:
What are the effects of the current price of crude oil in the international market on petroleum marketing stocks?

Effect should be NIL but in Nigeria where there is high level of ignorance people will assume that high crude oil price benefits the petroleum marketing sector.

In real life, high crude oil price affect downstream oil companies negatively

Using Porter's 5 forces to analyze stocks

https://www.investopedia.com/articles/fundamental-analysis/11/using-porters-5-forces-for-stock-analysis.asp?utm_source=term-of-the-day&utm_campaign=www.investopedia.com&utm_term=13175438&utm_medium=email

locodemy:
This is making the third time oga wanaj0 is telling you that JB profit is not sustainable.Dont hold a significant holdings here.Take some to zenith and some to JB if still in the mood.

No be me talk am.

Other comprehensive income are like 'awoof' income that happens once in a while. So you cannot make projection based on it. DF made money from selling the Noodles division. Will he sell another Noodles division this year That is what extraordinary item (other income) does. You need to SEPARATE that line item to understand the performance of the company in its real business.

Chibuking81:
Julius Berger has 2018 q1 result as;
PAT 1,491.449
Other Comprehensive Income For The Year. (From)
Exchange difference on transaction of foreign operations 1,457.129
Total comprehensive income for the year = 2,948.578
Which gave EPS of #2.23

If OCI form part of their EPS, then it's their earning which is not yet realized but when realized , it will be moved, to joined PBT.
https://www.accountingtools.com/articles/what-is-other-comprehensive-income.html

It is NOT sustainable!

nio68:
bros talk true na female marketer abi

Nosa!!!!!!

pasuma:
God Forbid, i got my fingers burnt just because i wanted to please a marketer and insured ALL my machines with them, each time there's a claim there will be one story or the other.. I cant wait for the policy to expire before going back to Mansard.

If you will rather insure your car with Mansard, why then will you BUY MB shares instead of Mansard Shares??

Many people will BUY dead companies just because they are seeing 'volumes'

It is a pity that Onwuka Interbiz is no longer on the NSE

dipoolowoo:
I agree with you, but that does not mean regulators should not punish infractions at least to protect the 'greedy and fearful' ones. Well, failure is part of a learning process.

BUT there was no infraction yet in the Milost/JaPaul deal. They were just flying a kite. No one took them serious. SEC/NSE cannot do anything. They have not contravened any law.

IchimokuPilot:
Don't get sucked into that insurance force field....
Insurance companies are so funny.
Managements do compete with customers for claims, while retail investors get trampled upon....

Seems she is using Volumes to decide what to BUY.

Sometimes those volumes are from right pocket to left pocket.

If you want to insure your car, house etc, will you go to Mutual Benefit?

TLAX:
True...I believe it will get worse before it gets better. No matter what 2017 result holds.

But I am in for Better for Better and NOT for Better for Worse

When there is GTB why bother with all these other banks? They CAN never be market leader. No succession plan in place. All what they have is HOPE . Well there is hope for a dead tree because at the scents of water.........

RabbiDoracle:
This place is enough for you to get your information.

But will greed allow us stay away from a stock with unusual price movement?

If we can't control GREED and FEAR, we don't have business in this market. Once a negative/bad result is released or bad news is in the public, Omo mehn.... jaaaaaaaaaaa

By this time it is already too LATE!

RabbiDoracle:
Later they will say people in this forum killed the price appreciation in Oando.

Bros, you need to start selling commonsense in can ooo. Maybe people can buy from you and try and get small sense.

Wicked somebody

onegentleguy:


Btw, this should also serve out as some stern warning to those still in OANDO.
1st we have done several analysis here to show why that coy is NOT of a good investment. ...to save folks from any future danger.
...there have also been several stern warnings from even the auditors at ernest & young on the huge risk weighing on the coy as a going concern.
But they probably seem to be falling on deaf eyes.

Discretion is usually the better part of valour, but then I sincerely hope that the future doesn't prove us right.

OandO guys are much smarter than Jegede! It takes a lot of 'discernment' to see the 'fraud' in OandO. The Milost/JaPaul deal was so obvious that it is a SCAM going nowhere. It is an INSULT that JaPaul is talking of RED FLAG. Na now the flag turn RED? Na white flag before?

mendes911:
@Wanaj0 et al. Oracle,

What's your take on Diamond Bank?

This one will go on full bid or full offer within seconds of release of result.

If person go chop Lizard, at least chop the one with egg

Out of ALL the banks on the NSE, why will I look at Diamond? Is it the wonderful management, great performance or just for my gambling experience

yom2:
u guys finally succeeded in killing d japaul deal and come here to say we warned them

Jegede knew there was no deal! Like I told you, starting point was to call an EGM and present it to the shareholders which never happened. Jegede was just taking people for a ride.