A director at Fidelity Bank PLC bought 15,000,000 shares at 15.960NGN and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
Summary Zenith Bank Plc - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Zenith Bank Plc (Zenith) is a provider of personal, SME, investment, and corporate banking solutions. The bank offers accounts such as current, savings, salary, limited liability, and enterprise account...
Summary Marketline's Zenith Bank Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Zenith Bank Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments rep...
Profits moderate despite 30% y/y earnings growth Fidelity Bank recently released Q1 financial results, reporting Gross Earnings of ₦71 billion, in line with our forecast and 30% higher than the corresponding period of 2021. This impressive growth came thanks to a 44% y/y jump in Interest Income (II) to ₦62 billion as the bank saw a 49% improvement in income from loans and advances, with the interest rate on loans improving by 170bps y/y t...
Fidelity Bank recently released its unaudited results for the 2021 financial period, reporting Gross Earnings of ₦244.6 billion, an 18% y/y improvement. This outsized earnings growth, which beat our forecast of ₦224.5 billion, due to a 14% y/y jump in Interest Income (II) to ₦202.2 billion. Unlike other banks, Fidelity’s II growth was actually driven by a 25% improvement in income from loans and advances, which also grew 25% y/y to ₦1.65 trillion. However, the bank’s Interest Expense rose 48% y/...
A compelling player in the Tier II space We initiate coverage of FIDELITY with a BUY recommendation and a target price of ₦3.57. FIDELITY is currently trading at a 39% discount relative to our target price, which is combination of three valuation methods. Our Justified P/B valuation yielded a target price of ₦3.59, while our Gordon’s Growth valuation came in at ₦3.14 and our Residual Income valuation for the bank came in at ₦3.00. These valua...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
President forwards minimum wage bill to National Assembly President Buhari yesterday forwarded the National Minimum Wage Bill to the National Assembly following its approval by the National Council of State. This comes after the council proposed a lower wage of ₦27,000 for the Nigerian worker, including state workers, while the Federal Government retained the minimum for federal workers at ₦30,000. Whilst the minimum wage increase was expect...
FO seeks approval to divest power business to Chairman Forte Oil has announced an Extra-ordinary General Meeting for February 7 to approve or reject the divestment of its stake in power generating outfit, Amperion Power Distribution Company limited, to current majority shareholder, Mr. Femi Otedola CON. We recall that the Group had earlier obtained approval to divest this unit as well as its Upstream Servicing business and Ghanaian subsidiary in 2018. The cas...
US Congressional split could check Trump’s foreign policy The Democratic party is poised to take control of the US House of Representatives according to exit polls, as they only need to secure a few more seats to gain a majority in the lower house of Congress. Although the Republican party retained control of the Senate, this split in Congress brings an end to the effective Republican control of the three branches of government—the Suprem...
World Bank cuts sub-Saharan Africa’s 2018 growth forecast World Bank cuts sub-Saharan Africa’s 2018 growth forecast The World Bank has revised its 2018 economic growth forecast for Sub-Saharan Africa from 3.1% to 2.7%, citing slower-than-expected growth in the region’s biggest economies (Nigeria, Angola, and South Africa). World Bank Chief Economist for Africa, Albert Zeufack said that the slow growth is a reflection of a less favorable external environment, coupled with Nigeria and Angola’s oil...
Nigeria’s oil earnings surge in 2018 According to a recently released Organization of Petroleum Exporting Countries (OPEC) revenues fact sheet published by the US Energy Information Administration (EIA), the 15 members of OPEC recorded a combined net oil export revenue of $428 billion between January and July 2018. Nigeria accounted for c.6% of this figure ($27 billion) and was the sixth highest earner, with Saudi Arabia topping the list w...
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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