reports
- MarketLine Department
Ecobank Transnational Inc - Company Profile and SWOT Analysis
Summary Ecobank Transnational Inc - 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 Ecobank Transnational Inc (Ecobank Group) is a banking and financial services group. The group engages in providing a wide range of financial services, including corporate and investment banki...
Diamond Bank Plc and Access Bank Plc - A combination to shake up the b...
A combination to shake up the banking sector The Boards of Directors of Access Bank and Diamond Bank yesterday announced a proposed merger of the two banks. According to the press releases, Diamond Bank shareholders will be receiving a consideration of ₦3.13/share on this transaction, which compares favourably with Diamond Bank’s closing price of ₦0.87/share on December 13, the date of the final bidding offer. Specifically, ...
Weekly Market Wrap - 07 December 2018
Flat close for ASI amid mixed trading sessions Following a 15bps uptick on Friday, the All-Share Index closed nearly flat w/w (-2bps) amidst varied closes through the week. The Consumer Goods sector (d/d: +195bps; w/w:+64bps) was the sole gainer on the day, thanks to advances in NESTLE (d/d: +466bps) and DANGSUGAR (d/d: +305bps). While bargain hunting has been more visible on the exchange, notable selling has also persisted across select stock...
Equity Commentary - Diamond Bank Plc - Overblown fright or Justified c...
Last week, global rating agency S&P lowered its issuer rating of Diamond Bank by one notch to CCC+ from B- majorly due to two concerns. Firstly, the rating agency expressed concerns on the possibility of higher provisioning which will put pressure on the bank’s capitalization. Furthermore, S&P believes the bank’s foreign-currency liquidity position remains vulnerable largely due to its maturing Eurobond in May 2019. The impact of this downgrade saw investors sell-off the bank’s Eurobond with y...
The Market Today - 14 November 2018
OPEC forecasts reduced oil demand for fourth straight month In its November report, the Organization of Petroleum Exporting Countries (OPEC) lowered its oil demand growth forecast for 2019 for the fourth consecutive month to 1.29 mb/d. Meanwhile, the group’s output rose 0.13 mb/d to 32.90 mb/d in October as Saudi Arabia and UAE compensated for declining output in Iran. Brent crude prices fell to $65/bbl yesterday, a far cry from the year-high of $86/bbl i...
The Market Today - 25 October 2018
Diamond Bank announces resignation of chairman, directors Diamond Bank Plc released a statement on the Nigerian bourse in yesterday’s session announcing the resignation of four of its non-executive directors from the board of the company. The statement included that the directors had resigned for varied reasons and the company would update the market with further developments. Meanwhile, media reports from yesterday also claimed that the bank is looking ...
The Market Today - 04 September 2018
Q2’18 pension data shows drop in equity holdings The National Bureau of Statistics released the report on pension funds industry portfolio for Q2’18, giving us a first look at Pension Fund Administrator (PFA) portfolio holdings – post the implementation of the multi-fund structure in July. Despite the new guidelines nudging PFAs to ramp up their equity holdings, Q2 data shows a decline in equity portion of AUM from 9.25% in Q1 to 8.62% in...
The Market Today - 29 August 2018
President withholds PIGB assent News report suggest that President Buhari has withheld assent of the Petroleum Industrial Governance Bill (PIGB), citing concerns that the bill erodes the influence of the presidency over the most important industry in the economy. The crucial elements of the PIGB focus on unbundling the Nigerian National Petroleum Corporation into three separate entities, reducing the powers of the Petroleum Minister, and establish a single...
The Market Today - 19 July 2018
Nigeria’s National Carrier unveiled as Nigerian Air At the Farnborough International Airshow in London on Wednesday, the Minister of State for Aviation, Hadi Sirika, unveiled the name of Nigeria’s new national carrier: Nigeria Air. Sirika emphasized at the unveiling that the Nigerian government would hold no more than a 5% stake in the company and that it would be managed and led by private investors. The establishment of a national carr...
DIAMOND BANK PLC - Mixed outlook, tough near-term but positive long-te...
DIAMONDBNK earlier released its FY’17 and Q1’18 results, with earnings from both periods coming in largely underwhelming. The full year performance was particularly disappointing with earnings before discontinued operations coming in at a loss of ₦12.9 billion – first full year loss recorded by any of our coverage names in recent years. Although earlier run rates had indicated weak performance for FY’17, Q4’17 earnings came in more dismal than we had anticipated with bottom line for the period...
DIAMOND BANK PLC H1'17 - Q1 run rate maintained PAT beats estimates
Q1 Run rate maintained, PAT beats estimates                                                Diamond Bank released its H1’17 results, showing sustained earnings run rate in Q2’17 and posting a 3% y/y growth in PAT. Although bottom line growth is mild, we see the y/y growth as modestly impressive given that H1 had been a stronger half for the bank in 2016 and we had expected the y/y performance to be impacted by the prior year’s high base...
- MarketLine Department
Diamond Bank PLC - Strategy, SWOT and Corporate Finance Report
Synopsis Diamond Bank PLC - Strategy, SWOT and Corporate Finance Report, 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 360Ëš view of the company. Summary - Detailed information on Diamond Bank PLC required for business and competitor intelligence needs - A study of the major internal and external factors affecting Diamond Bank PLC in the form of a ...
DIAMOND BANK PLC FY'16 - Weak y/y performance beat estimates
​Weak y/y performance beat estimatesDIAMONDBNK released its long awaited FY’16 results showing weaker y/y performances across most income lines albeit ahead of our estimates. Despite a 7% y/y rise in Non-Interest Income, Gross Earnings moderated marginally to ₦212 billion (Vetiva estimate: ₦197 billion), pressured by a 5% y/y decline in Interest Income (₦150 billion vs. Vetiva estimate: ₦147 billion). We highlight that the moderation in top line reported by DIAMONDBNK deviates from t...
Ford Equity International Rating and Forecast Report
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...
DIAMOND BANK PLC 9M'16 - Earnings sink on higher loan loss expense
DIAMONDBNK released 9M’16 results showing weaker quarterly earnings amidst subdued earlier performance. On a y/y basis, Gross Earnings declined 3% to ₦151 billion, albeit 2% ahead of our estimate. With Interest Expense coming just in line with our estimate, we applaud the consistent cost moderation recorded year till date despite the higher interest rate environment and a larger customer deposit. However, Net Interest Income bowed to the weak top line performance, down 8% y/y to ₦78.4 bill...
Diamond Bank PLC - Earnings beat estimates, albeit down y/y
DIAMONDBNK released Q1’16 results, reporting a much improved performance across the key line items. Despite the 12% y/y decline in Interest Income, Gross Earnings was up 2% y/y (13% ahead of our estimate), supported by an impressive 39% y/y rise in Non-Interest Income. Similarly, we highlight the decent improvement in funding cost (in line with the trend observed in FY’15) as Interest Expense moderated 10% y/y and 5% from Q4’15 (11% better than our estimate). Although Net Interest Income (...
Diamond Bank PLC - High CoR sinks earnings, PAT down 78% y/y
​DIAMONDBNK released its much anticipated FY’15 results, reporting disappointing performances across most metrics. Although management had earlier warned that earnings would be lower than FY’14 levels, the bank’s performance still fell significantly behind Consensus estimates.
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