African Markets Review 09 13 19
- In Morocco, CIH BANK publishes a press release concerning its H1 2019 results, showing a consolidated NBI up by 6.8% to MAD 1,195m, a cost of risk increasing by 52% to MAD 169.5m and a NIGS down by 47.7% to MAD 151.2m;
- In Tunisia, ELECTROSTAR carries out an accordion operation consisting in the reduction of the capital of the company by TND 12.862m by reducing the nominal value of the share from five to two dinars;
- In Egypt NATIONAL BANK OF EGYPT registered a profits worth more than EGP 35bn for the financial year 2018/2019, the highest ever in the history of the Egyptian banking sector;
- Among the covered African markets, the Nigerian Stock Exchange recorded the highest daily performance (+1.81%) for the second time in a row, whereas Dar es Salaam Stock Exchange pointed the lowest one
(-0.77%).
BMCE Capital Global Research is a subsidiary of BMCE Capital Group dedicated to Research and Financial Analysis. It is addressed to professional investors (financial institutions, management companies, etc.) to which it provides information and independent analysis aligned with international standards. BMCE Capital Research covers equities, interest rate, Forex and commodities markets in Morocco, Tunisia and WAEMU region (Bourse Régionale des Valeurs Mobilières, BRVM). Thanks to its latest generation technology platform, to its teams and to those of its partners, the Research Office of BMCE Capital is now able to cover simultaneously several places in Africa and to produce several publications co-branded under its umbrella brand African Securities Network, ASN.
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