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  • Re: GTBank Post #288854
    Posted at: 11:56 am, 25th Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    aysok1;288851 wrote:
    Oga Waves,

    Have you noticed the "Total comprehensive Income for the Tier 1 banks"?

    UBA - 138B
    Access - 103B
    GTBank - 132B
    Zenith - 166B

    While PAT for each is stated as

    UBA - 72B
    Access - 71B
    GTBank - 132B
    Zenith - 130B

    :eek:

    Yes. I have. And that shows the intricacies of comparing bank results. For instance, while GT reported its "FX gain' before PAT (actually, the tax rate suggests, their auditors did not consider the FX gain in calculating their tax), UBA reported their PAT before adding their FX again. This might not matter if that is how the have been doing it and you want to analyze the same bank YOY but it becomes ridiculous if you try to compare UBA with GT Bank without reducing them to a common denominator


  • Re: UBA Plc Post #288853
    Posted at: 6:23 am, 25th Mar 2017
    by shigidi. SMN . Joined: 6th July 2007. Thanked 28 times.


  • Re: UBA Plc Post #288852
    Posted at: 6:22 am, 25th Mar 2017
    by shigidi. SMN . Joined: 6th July 2007. Thanked 28 times.


  • Re: GTBank Post #288851
    Posted at: 5:08 am, 25th Mar 2017
    by aysok1. SMN . Joined: 23rd June 2008. Thanked 19 times.

    Waves;288843 wrote:
    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf

    Oga Waves,

    Have you noticed the "Total comprehensive Income for the Tier 1 banks"?

    UBA - 138B
    Access - 103B
    GTBank - 132B
    Zenith - 166B

    While PAT for each is stated as

    UBA - 72B
    Access - 71B
    GTBank - 132B
    Zenith - 130B

    :eek:


  • Re: GTBank Post #288850
    Posted at: 3:11 pm, 24th Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Waves;288843 wrote:
    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf

    https://www.thecable.ng/foreign-exchange-gains-lift-gtbs-profit


  • Re: GTBank Post #288849
    Posted at: 12:08 pm, 23rd Mar 2017
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 312 times.

    Waves;288843 wrote:
    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf

    With what the economy went through last year I am amazed as to how some people are bullish on our banks. The government is betting heavily on peace in the Niger Delta and every Nigerian should be praying this gamble works out. If the gamble pays then this is seems to be the bottom for Nigerian equities. However, while I am beginning to get bullish on Nigeria again I am still very weary of the banks. A lot of small businesses have gone under and NPLs are only going to skyrocket this year.


  • Re: Economicwatch Post #288848
    Posted at: 10:50 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: Bond investment Post #288847
    Posted at: 10:14 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    migiets;288846 wrote:
    Are the rules for trading on it out yet?.

    Have not seen any but I suspect they will be trading on the NSE rather than FMDQ


  • Re: Bond investment Post #288846
    Posted at: 10:04 am, 23rd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    Waves;288845 wrote:
    Correct. The drift will be gradual. As soon as the bond start trading and people see that they can sell when they want, subscription will pick up. With generous commissions from DMO, those brokers may even start discouraging people from buying shares in to buying these bonds.

    Are the rules for trading on it out yet?.


  • Re: Bond investment Post #288845
    Posted at: 9:44 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    migiets;288842 wrote:
    This is the first one. Let us see subsequent ones before we can accurately judge. It seems the 50m minimum entry for NTB has really not deterred people from NTB.

    Correct. The drift will be gradual. As soon as the bond start trading and people see that they can sell when they want, subscription will pick up. With generous commissions from DMO, those brokers may even start discouraging people from buying shares in to buying these bonds.


  • Re: GTBank Post #288844
    Posted at: 9:39 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Getthere;288823 wrote:
    Am surprised too,at GTB for that. I hope it is not connected to the Etisalat loan or Power sector loans.

    Would be good if the details are made available

    I understand she has served out her full term as ED/DMD and Segun is not going yet. CBN rules require her to leave.


  • Re: GTBank Post #288843
    Posted at: 9:38 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Getthere;288840 wrote:
    https://www.bloomberg.com/news/articles/2017-03-23/east-lags-west-as-nigeria-s-biggest-bank-outshines-kenyan-peer

    East Lags West as Nigeria's Biggest Bank Outshines Kenyan Peer


    Pitting Nigeria and Kenya’s biggest banks by market value against each other shows just how much state intervention hurt Nairobi-based Equity Group Holdings Ltd., while Guaranty Trust Bank Plc in Lagos fended off a contracting economy by ..........

    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf


  • Re: Bond investment Post #288842
    Posted at: 9:31 am, 23rd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    Getthere;288841 wrote:
    This does not look like a success story to me

    This is the first one. Let us see subsequent ones before we can accurately judge. It seems the 50m minimum entry for NTB has really not deterred people from NTB.


  • Re: Bond investment Post #288841
    Posted at: 9:03 am, 23rd Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    migiets;288837 wrote:
    FEDERAL GOVERNMENT OF NIGERIA SAVINGS BOND ALLOTMENT RESULT
    (MARCH 2017)

    https://www.dmo.gov.ng/fgn-bonds/savings-bond/1997-fgn-savings-bond-allotment-results/file

    This does not look like a success story to me


  • Re: GTBank Post #288840
    Posted at: 8:31 am, 23rd Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    https://www.bloomberg.com/news/articles/2017-03-23/east-lags-west-as-nigeria-s-biggest-bank-outshines-kenyan-peer

    East Lags West as Nigeria's Biggest Bank Outshines Kenyan Peer


    Pitting Nigeria and Kenya’s biggest banks by market value against each other shows just how much state intervention hurt Nairobi-based Equity Group Holdings Ltd., while Guaranty Trust Bank Plc in Lagos fended off a contracting economy by ..........


  • Re: Zenith Bank Post #288839
    Posted at: 4:47 am, 23rd Mar 2017
    by arostuff. SMN . Joined: 25th September 2010. Thanked 5 times.

    Breaking !!!! Why did zenith bank suspend the100 billion capital rasing exercise, how would they get capital to finance loan and project. without raising this capital am sure the share price of zenith would tank seriously


  • Re: Economicwatch Post #288838
    Posted at: 5:02 pm, 22nd Mar 2017
    by duduspace. SMN . Joined: 13th February 2007. Thanked 345 times.

    migiets;288834 wrote:
    Naira now exchanging for between 400-410.

    www.abokifx.com

    Price of rice needs to come down fast.

    The reserves actually reversed marginally yesterday just after i spoke :D so Oga Nosa's message of caution is a timely one and sustainability of CBN interventions is still very much under scrutiny. I however still think the country is on the right track. Still watching the trend, rate of accretion has been slowing down recently but this is the first sign of a reversal since late October 2016.


  • Re: Bond investment Post #288837
    Posted at: 4:41 pm, 22nd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    FEDERAL GOVERNMENT OF NIGERIA SAVINGS BOND ALLOTMENT RESULT
    (MARCH 2017)

    https://www.dmo.gov.ng/fgn-bonds/savings-bond/1997-fgn-savings-bond-allotment-results/file


  • Re: Forte Oil Post #288836
    Posted at: 4:11 pm, 22nd Mar 2017
    by mecatchcha. SMN . Joined: 19th November 2007. Thanked 36 times.

    baotoghile;288833 wrote:
    Recent price movement of FO is funny!!! Interestingly, the seller may be selling from a special account, which allows different brokers with permitted access to trade on it at the instruction of the account holder. This time, the seller may have a mission given his/her selling method and pricing...

    I sent you a PM.


  • Re: Wapco Post #288835
    Posted at: 2:51 pm, 22nd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: Economicwatch Post #288834
    Posted at: 2:03 pm, 22nd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    duduspace;288832 wrote:
    Una don dey adjust little by little abi ? at least no more flights of fancy of a N1000 rate ? :D
    Albeit, I am still seeing Reserve Accretion, albeit at a slightly lower rate since the interventions begin. I will notify you when it reverses and begins to go southwards afterall na 30 days MA so we will know what negative effects (if any) the CBN interventions are having on the reserves by this time next month.

    Naira now exchanging for between 400-410.

    www.abokifx.com

    Price of rice needs to come down fast.


  • Re: Forte Oil Post #288833
    Posted at: 6:13 am, 22nd Mar 2017
    by baotoghile. SMN . Joined: 20th October 2007. Thanked 107 times.

    Recent price movement of FO is funny!!! Interestingly, the seller may be selling from a special account, which allows different brokers with permitted access to trade on it at the instruction of the account holder. This time, the seller may have a mission given his/her selling method and pricing...


  • Re: Economicwatch Post #288832
    Posted at: 3:49 pm, 21st Mar 2017
    by duduspace. SMN . Joined: 13th February 2007. Thanked 345 times.

    PETERICHY;288818 wrote:
    During this damage control period if you are lucky to get USD @#450 mop as much as you can because our next port of call is N600.

    Thank me later.

    *ThE OcToPuS*

    Una don dey adjust little by little abi ? at least no more flights of fancy of a N1000 rate ? :D
    Albeit, I am still seeing Reserve Accretion, albeit at a slightly lower rate since the interventions begin. I will notify you when it reverses and begins to go southwards afterall na 30 days MA so we will know what negative effects (if any) the CBN interventions are having on the reserves by this time next month.


  • Re: The Banks Post #288831
    Posted at: 7:57 am, 21st Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: MarketWatch Post #288830
    Posted at: 5:48 am, 21st Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    https://www.forbes.com/sites/mfonobongnsehe/2017/03/20/africas-richest-man-aliko-dangote-to-invest-700-million-in-sugar-processing/#483f7563444a


    Africa's Richest Man Aliko Dangote To Invest $700 Million In Sugar Processing


    Africa’s richest man, Aliko Dangote plans to invest $500 million in establishing a sugar processing facility in Nasarawa State, Nigeria.

    According to a report by Channels Television, Dangote disclosed this on Friday during a courtesy call to the state governor Tanko Al-Makura in Lafia, the state capital.............


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