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12th September 2007, 05:21 PM
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It is ... But you have to get caught...like every other crime.
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Enjoy. Pumping. Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well. -Warren Buffet-     
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12th September 2007, 05:51 PM
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Oceanic Bank Claimed Pbt Of 20b
It is important to say this at this stage. This Forum has helped many to take wiser decisions in their investment efforts, this is even to say the least. So it is advisable that any information which can influence the decison of anyone here must be credible and verifiable. I see a lot of folks here even going the extra mile to attach references to their claims.
So, please apart from the FUN, let's get serious and be sure that whatever info we are giving out, no fewer than 500 spectators are relying on it to take decision one way or another. As for Oceanic making a PBT of 20b, may we know the source of the information, please. As to Oceanic being a good buy any day is not in doubt, but clearly, this information, if authentic can push up the volume one may be contemplating. A few persons might even jump to taking some medium term loan to ambush this stock, if this result is true. Apart from your willingness to assist by proffering this information, what other factors can you avail this forum regarding your claim of 20b PBT for Oceanic bank this year?
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12th September 2007, 08:05 PM
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Of Course.....Oceanic will do N20b+ PBT
I dont see what the big deal is in the projection....if we pay attention to the quarterly results, you will definitely know that they will hit N20B+ PBT. Im even surprised that folks think we should rush in before it is public news...i thought it was already public news after a PBT of 16.2B for 3Q07? Do the maths..if they declare anything less than N20billion, then people will ask them what went wrong....? Infact, I was under the impression that the 3Q07 results drove the price to the year high it witnessed at some point.
Anyway, dont expect the results to be out b4 Dec07..that is their usual timeline.In any case, here are some excerpts below from the Sun news papers on Monday - September 10. Cheers...B Oceanic Bank assures shareholders of good returns on investment From Business desk Monday, September 10, 2007 Pix: Sun News Publishing Mores Stories on This Section As Oceanic Bank International Plc ends its financial year on September 30, 2007, its Chief Executive, Dr. (Mrs.) Cecilia Ibru has assured shareholders of good returns on their investments. Speaking with finance correspondents over the weekend, Ibru said the bank’s shareholders would be adequately rewarded for their patronage, and faith in the management. She thanked the shareholders for their enthusiasm and high patronage of the bank’s public offer, which sources claimed was oversubscribed. It would be recalled that, the bank paid a dividend of 42 kobo and also gave a bonus issue of one for four in the last financial year. Ibru said the decision to give the bonus even when it was not promised the shareholders, was to re-affirm the bank’s commitment to its stakeholders and also show Oceanic Bank as an investor-friendly financial institution. She said Oceanic Bank’s dream of becoming the best bank in the country by all key indices will soon be realized, stressing that the bank would always place high premium on the welfare of its stakeholders and continuously enhance their financial status through high returns on investment. The bank’s performance so far in the last three quarters has shown that it would exceed its targets and set a standard in the industry. It is clear from the performance that the bank’s vision of becoming the most dominant financial institution in the industry in terms of profitability and excellent service delivery is also realisable. The bank increase its earnings by 55 per cent in the third quarter to N46 billion as against N29.4 billion earned in the corresponding period of 2006. While its profit before tax (PBT) rose by 53 per cent, from N10.6 billion to N16.2 billion, profit after tax (PAT) rose by 54 per cent to N13.4 billion percent as against the preceding year’s N8.7 billion. The bank had projected a profit before tax of N18.9 billion for 2007 financial year, and a profit after tax of N14.7 billion, during its recently concluded public offer (PO). The third quarter result further consolidated Oceanic Bank’s position as a first rate financial institution buoyed by its aggressive business penetration strategy and efficient cost management. With the recently released results, market analysts believed the bank’s vision of becoming the most profitable bank in the country before 2010 is quite on course and evidently promising. Many of the financial analysts who commented on the performance of the bank so far, lauded the managerial expertise of the bank’s management and praised its Chief Executive, Dr. (Mrs.) Cecilia Ibru, for her promise of consistently enhancing the financial status of the shareholders through adequate return on their investments. Managing Director of Corporate Investors Place, Emeka Madubuko, said the results so far was a pointer that the shareholders should begin to celebrate, as the end year result would be impressive, stressing that the bank has never put any one in doubt of its strategic focus. The stockbroker said the high volume of patronage the bank’s stock currently enjoys in the stock market alluded to the fact that it is investors’ delight, advising the management of the bank to continue to build on its successes. “The nine month financial is quite impressive. We expect the market to react positively to it. In fact, it will not be out of place if the stock hits N45 before the end of its current financial year.” Also, the Managing Partner, Twinsronk Consulting, Prince Tola Akinyemi, said the result has proven that the bank is set for regional and global competitiveness in terms of market share, adding that it reinforced investors’ rising confidence in the bank. The financial analyst lauded the bank’s contribution to the nation’s economic development, while maintaining that Oceanic Bank is capable of surpassing analysts’ forecast in its year-end result. The bank’s profile has continued to rise both on the local level and the international level. It has recently been rated among the top 1000 banks in the world and has also received positive rating from renowned rating agencies. A very significant strategy of the bank is its determination to further open its revenue base by establishing so many subsidiaries. The subsidiaries are part of the bank’s strategy for long-term growth. They are also basically a means of building credible and profitable institutions for the future that would transform ultimately to good returns, especially after both the first and the second phase of consolidation exercise.
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13th September 2007, 12:56 AM
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@
Will those that bought the latest PO of Oceanic partake in any dividend/bonus that will be declared by the bank come its year end on 30th September? Assuming the shares sold in the PO is added to the stock outstanding, is the price of the stock likely to fall or remain stagnant as a result of buyers of the PO dematerialisng their certificates and flooding the secondary market?
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13th September 2007, 08:37 AM
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Don't expect a bonus. maybe a dividend In the prospectus, they promised to pay dividend to those that bought the PO if they get the money from the offer early enough. From the look of things, I doubt whether that will happen.
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13th September 2007, 10:20 AM
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Oceanic put a trick statement in their last prospectus. That if they get the PO funds 3 months before their FYE, they will include the new shares for dividends (forget a bonus now...post offer they should have over 15billion shares in issue, so a bonus dont make any sense).However, the tricky thing is that we all know with the delays in bank POs...there was no way they will get the PO funds in time for their FYE. So on one side of the cheek, they say yes you will benefit from current FYE results...but....
 In effect - NO - I do not expect the new PO shares to benefit from dividends from this FYE. Secondly, I will also be surprised if the shares will be listed before the FYE declaration-- why, because from a strategy standpoint the bank will want the huge profit to boost its share prices in the short term (~N40),.., so that when the new shares are eventually listed and new folks start trading, the shares will normalise to about it current levels right now. My views completely..welcome alternative thoughts... Cheers....B
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17th September 2007, 09:38 PM
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Oceanic Bank Shares Allotment
Hi folks,
Goodday.Please,has oceanic bank done allotment for the public offer they did this year?I have not received the shares i subscribed for. Thanks. kazzyng.
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18th September 2007, 08:20 AM
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Just be patient. Hopefully by year end you will get it. Bank offers take an average of 8 months.
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18th September 2007, 08:29 AM
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It will be a surprise if those that partook in the PO got any benefit from the current year declaration. If they pay them, the retained earnings will be reduced dramatically thus affecting the shareholders fund growth.
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20th September 2007, 09:52 AM
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And i can assure you that in this site you will get a lot of good analysis from the gurus just logon always. Good luck.
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31st December 2007, 06:52 PM
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Hello guys, does anyone have any information about sterling bank. I heard they are merging with ecobank, but anyone has any new information about this planned merger. I am not sure if to hold on as I do not know how long it will take or cut my loss sell and take advantage of the bullish runs.
Actually my issue is the dearth of information... does anyone have any info..rumour...anything
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21st February 2008, 09:04 AM
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Sterling Bank
Hi guys, pls, did anybody know when will sterling and Eco Bank be out of TS and be ready for trading?
Thanks.
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21st February 2008, 07:59 PM
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well we are waiting for them to sort out their house.
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