reports
- ARM Research
- Oyinkansola Aregbesola
Zenith Bank Plc 2024FY Earnings Note | Interest & Trading Income Drive...
Zenith bank's growth trajectory was underpinned by robust earnings expansion, driven by impressive gains in both interest and non-interest income streams, benefitting from the high-interest rate environment. However, the expansion came with rising operational costs, as the bank faced increased personnel expenses alongside higher fuel and maintenance costs. These factors contributed to a substantial uptick in operating expenses, reflecting the broader inflationary pressures affecting the econom...
- ARM Research
- Oyinkansola Aregbesola
GTCO 2024FY Earnings Note | Strong Core Banking Income
GTCo continued its strong growth, increasing earnings from both interest and fees, benefiting from the high-interest rate environment. While operating costs rose due to higher staff salaries and increased spending on technology, the bank managed its expenses more efficiently than its peers, keeping its cost-to-income ratio lower. Overall, GTCo achieved impressive profit growth while delivering strong returns for investors.
- ARM Research
- Oyinkansola Aregbesola
UBA Plc 2024FY Earnings Note | Higher Interest Income amid Normalizati...
UBA’s 2024 earnings surged impressively, driven by a significant expansion in core banking activities. Benefiting from a favorable interest rate environment, the bank leveraged its extensive customer base and innovative financial products to deepen market penetration, resulting in substantial growth in interest-related income. However, this success was tempered by a decline in non-interest revenue streams, primarily due to the normalization of non-interest income after a year of high gains in FX...
Moody's Ratings announces completion of a periodic review of ratings o...
Moody's Ratings (Moody's) has completed a periodic review of the ratings of United Bank for Africa Plc and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 12 December 2024 in which we reassessed the appropriateness of the ratings in th...
Zenith Bank Plc 9M:2024 Earnings Note | Robust Earnings
Zenith Bank Plc recently published its 9M:2024 unaudited financial results, recording a 118.17% YoY expansion in Gross Earnings to NGN2.90trn. This is on the back of increase in both interest income (+190.21% YoY to NGN1.95trn) and non-interest income (+44.72% YoY to NGN952.49bn) in the period. Meanwhile, Operating Expenses surged 113.46% YoY to NGN656.07bn owing to rising personnel costs and fuel & maintenance. Profit Before Tax (PBT) and Profit After Tax (PAT) increased by 98.57% and 90.54% to...
Access Holdings Plc 9M:2024 Earnings Note | Core Income Boost Gross Ea...
In its recently released unaudited 9M:2024 results, Access Holdings’ Gross Earnings grew by 114.49% YoY to NGN3.42trn mainly due to the spike in interest income (+128.71% YoY to NGN2.40trn) and non-interest income (+87.19% YoY to NGN1.02trn). Elsewhere, Operating Expenses increased by 109.98% YoY to NGN1.09trn, following higher personnel expenses, admin expenses and IT & e-business expenses in the period. Profit Before Tax (PBT) and Profit After Tax (PAT) increased by 89.59% YoY and 82.77% YoY e...
- MarketLine Department
Guaranty Trust Bank Ltd - Company Profile and SWOT Analysis
Summary Guaranty Trust Bank Ltd - 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 Guaranty Trust Bank Ltd (GTB) is a provider of retail, corporate, and investment banking products and services. The bank's product offerings include a wide range of accounts and deposits, online...
Guaranty Trust Holding Company Plc H1:2024 Earnings Note | Riding on I...
In its recently released audited H1:2024 results, GTCO’s Gross Earnings jumped by 107.04% YoY to NGN1.39trn mainly due to the spike in interest income (+173.47% YoY to NGN617.89bn) and non-interest income (+111.94% YoY to NGN774.30bn), an offshoot of the unrealized fair value gain on financial instruments on its FCY balance sheet. Elsewhere, Operating Expenses increased by 60.70% YoY to NGN201.80bn, following higher personnel expenses and technology-related expenses in the period. Profit Befor...
Zenith Bank Plc H1:2024 Earnings Note | Impressive Performance Riding ...
Impressive Performance Riding on Core & Non-Core Income Zenith Bank Plc published its H1:2024 interim financial results, recording a 120.03% YoY expansion in Gross Earnings to NGN2.05trn. This is on the back of increase in both interest income (+176.69% YoY to NGN1.15trn) and non-interest income (+72.50% YoY to NGN951.94bn) in the period. Meanwhile, Operating Expenses surged 115.30% YoY to NGN472.08bn owing to rising personnel costs and fuel & maintenance. Profit Before Tax (PBT) and Profit Aft...
United Bank For Africa: 1 director
A director at United Bank For Africa maiden bought 1,401,769 shares at 21.850NGN and the significance rating of the trade was 68/100. 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 las...
Q1:2024 Earnings Update | GTCo | Performance Bolstered by Fair Value G...
Performance Bolstered by Fair Value Gain Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew by 587.48% YoY and 685.90% YoY to NGN509.35bn and NGN457.13bn respectively. Overall, Net Profit Marg...
Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core ...
Impressive Performance Riding on Core Banking Income United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses advanced 104.05% YoY to NGN218.97bn owing to employee expenses, energy, and maintenance cost. Profit B...
Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the St...
In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income. Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the other hand, Operating Expenses rose by 86.46% YoY to NGN279.31bn as personnel expenses, regulatory expenses and IT and e-bu...
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 per...
Zenith Bank: 1 director
A director at Zenith Bank bought 4,849,576 shares at 35.951NGN 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 clearl...
H1:2023 UBA Plc Earnings Result | Marked by Increased Fair Value Gain...
UBA’s H1:2023 financial results mirrored the earnings growth across its Tier-1 peers on the back of the FX liberalization policy implemented during the period. Gross earnings increased by 163.66% YoY to NGN981.78bn, largely supported by higher non-interest income (+381.30% YoY to NGN553.48bn). Interest Income remained elevated, growing by 66.57% YoY to NGN428.29bn. On the other side, Operating Expenses advanced 39.82% YoY to NGN226.37bn owing to rising personnel costs and AMCON levy. The group p...
H1:2023 Zenith Bank Plc Earnings Result | FX Revaluation Gains to the ...
Zenith Bank Plc published its H1:2023 interim financial results, recording a 138.51% YoY expansion in Gross Earnings to NGN931.12bn. This is on the wheels of a tremendous increase in non-interest income (+238.47% YoY to NGN551.84bn) in the period. Interest Income also supported growth in Gross Earnings as it grew by 71.86% YoY to NGN415.43bn. Meanwhile, Operating Expenses rose by 22.77% YoY to NGN219.27bn owing to rising personnel costs. Profit Before Tax (PBT) and Profit After Tax (PAT) increas...
H1:2023 GTCO Earnings Result | Remarkable Performance Riding on FX Rev...
In its recently released H1:2023 results, GTCO’s Gross Earnings jumped by 181.08% YoY1 to NGN672.60bn mainly due to the spike in non-interest income (+385.03% YoY to NGN446.66bn), an offshoot of the massive FX revaluation gains recorded in the period. Elsewhere, Operating Expenses increased by 26.26% YoY to NGN125.58bn. Profit Before Tax (PBT) and Profit After Tax (PAT) grew massively by 217.09% YoY and 261.65% YoY each to NGN327.40bn and NGN280.48bn respectively. Overall, Net Profit Margin impr...
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