2023FY Banking Stock Note | ZENITH | UBA | GTCo | ACCESSCORP
Zenith Bank released the audited Full-year results for 2023, revealing a robust topline performance. Gross Earnings, which exceeded our 2023FY estimates, grew by 125.45% YoY to NGN2.13trn on the wheels of increased interest and non-interest income. For context, Interest Income climbed 111.91% YoY to NGN1.15trn while Non-Interest Income grew significantly by 143.49% YoY to NGN987.08bn.
United Bank for Africa Plc. audited Full-year results for 2023 showed an impressive topline and bottom-line performance. Gross Earnings grew by 143.25% YoY to NGN2.08trn on the wheels of increased interest and non-interest income. Interest Income grew by 93.01% YoY to NGN1.08trn while Non-Interest Income soared 237.83% YoY to NGN1.00trn.
GTCo’s audited Full-year results for 2023FY revealed a strong top-line and bottom-line performance. Gross Earnings grew by 120.03% YoY to NGN1.19trn on the back of increased interest and non-interest income. Interest Income climbed 69.25% YoY to NGN550.76bn while Non-Interest Income grew by 197.29% YoY to NGN635.71bn.
In its 2023FY results, Access Holdings Plc posted a 87.01% YoY growth in Gross Earnings to NGN2.60trn, crossing the NGN2trn mark. Interest Income grew significantly by 99.93% YoY to NGN1.65trn while non-Interest revenue climbed 67.90% YoY to NGN939.48bn.
ARM Securities Limited is a full-service brokerage house that offers best-in-class brokerage services to local as well as foreign private and institutional investors. Formerly known as Hamilton Hammer, the Company commenced operation in 1994 and was acquired by ARM Investment Managers in 2008--an acquisition which has successfully re-positioned the company as a recognized brokerage firm in Nigeria. The Company is a dealing member of the Nigerian Stock Exchange (NSE) and is regulated by Securities and Exchange Commission (SEC). ARM Securities research team provides insightful commentaries on the Nigerian economy and its equity and debt markets using an approach which incorporates a thorough understanding of the fundamentals of the industries and companies under coverage. The research therefore adopts an integrated methodology of top-down analysis and bottom-up stock selection, which focuses on publicly quoted companies on the Nigerian Stock Exchange that are judged to offer the highest potential for earnings growth. In addition, its analysts provide periodic commentaries on a range of topical global and local issues which provide investing clients with a holistic view of the opportunities and risks in today’s financial market landscape.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.