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Stanbic IBTC Holdings Reports Q1 2017 Results – NPL Ratio Doubled Between Dec ’16 and Mar ’17

FBNQuest Research Event: Stanbic IBTC Holdings reports Q1 2017 results Implications: Positive reaction by the market likely Positives: Strong double-digit y/y growth on both revenue lines Negatives: NPL ratio doubled between December 2016 and March 2017 (NPL ratio at 10.5%) Stanbic IBTC’s Q1 2017 results which were released this afternoon were very strong. ...

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Cornerstone Insurance Revenue Went Up By 25.3% In 2016

Ganiyu Musa, GMD       Top underwriter, Cornerstone Insurance Plc on Friday said its group revenue grew by 25.3 percent at the end of 31, December 2016. This is contained in a notice to the Nigerian Stock Exchange (NSE) that its profit after tax appreciated to N9,190,634billion in 2016 ...

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Linkage Assurance MD sees sector reform increasing value creation for shareholders

L-R: Mr. Inam Udo Udoma, Non-Executive Director, Linkage Assurance Plc;  Mrs Joyce Ojemudia, General Manager, Marketing, Linkage Assurance Plc; Haruna Jalo-Waziri, Executive Director, Capital Markets, The Nigerian Stock Exchange (NSE); Dr. Pius Apere, Managing Director/CEO, Linkage Assurance Plc; Mrs. Imo Oyewole, Non-Executive Director, Linkage Assurance Plc; Mr. Taukeme Koroye, Non-Executive ...

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Okomu Oil Q4 2016 Results Review – Healthy Fundamentals; Outlook Still Positive

ward revisions to estimates and price target Okomu Oil’s (Okomu) Q4 2016 results came in stronger than we expected. The variance versus our estimates was mainly to due to a positive surprise in sales. For the coming year, Okomu management has guided to palm oil output of around 46,000te for ...

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Ecobank reports N52.6bn after tax loss in 2016

Ecobank Transnational Incorporated (ETI) has announced a loss after tax of N52.6 billion in 2016 from N21.52 billion reported in 2015. The lender in its 2016 financial statement released to the Nigerian Stock Exchange (NSE) in Lagos today shows that gross earnings down by 6 percent to $2.6 billion. Its ...

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SEC Urges Investors To Register For E- Dividend

The Securities and Exchange Commission (SEC) is pleased to notify the investing public that, as part of measures to curb the growth of unclaimed dividend in the Nigerian capital market, all investors are required to register for the payment of their dividends electronically (e-Dividend). To facilitate the e-Dividend registration exercise, the SEC ...

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Forte Oil Q1 2017 Results: Key Highlights

Forte Oil released its Q1 2017 results last Thursday. Please find key highlights below: ·         Revenue of N33.00bn; up +19.9% q/q; down -7.3% y/y ·         Profit before tax of N2.05bn against a -N293m loss before tax in Q4 2016 ·         Profit after tax of N1.88bn; up +1913% q/q; +97.5% y/y

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