Ecobank Transnational plc (ETI)

[knightofdelta]

Originally Posted by Salida

Ecobank Deploys Oracle FLEXCUBE and Oracle Financial Services Risk Analytics Across 30 Countries in Africa, Articles | THISDAY LIVE

Na wa o! Oga Oracle I dey see your hand o.

[faithgonuel]

Originally Posted by knightofdelta

Na wa o! Oga Oracle I dey see your hand o.

In collaboration with Oga Omydee...

[Salida]

Old Mutual offer for Oceanic Life

[Salida]

S/Africa?s Nedbank goes for 20% stake in Ecobank

[BigSeun]

http://www.ecobank.com/upload/201203...kUWyF4cZBw.pdf

Revenues up 33% to $1.2 billion (NGN186.5 billion)
- Profit before tax up 64% to $277 million (NGN43 billion)
- Profit after tax up 57% to $207 million (NGN32 billion)
- Earnings per share (EPS) up 55% to 1.76 cents (282 kobo)
- Total assets up 64% to $17.2 billion (NGN1,931 billion)
- Dividend 0.4 cent

[BigSeun]

Originally Posted by BigSeun

http://www.ecobank.com/upload/201203...kUWyF4cZBw.pdf

Revenues up 33% to $1.2 billion (NGN186.5 billion)
- Profit before tax up 64% to $277 million (NGN43 billion)
- Profit after tax up 57% to $207 million (NGN32 billion)
- Earnings per share (EPS) up 55% to 1.76 cents (282 kobo)
- Total assets up 64% to $17.2 billion (NGN1,931 billion)
- Dividend 0.4 cent

Impressive

[Salida]

ECOBANK TRANSNATIONAL INCORPORATED
March 29, 2012
Audited Year-End Results (Dec. 31, 2011)
Gross Earnings 31-12-11 $1.514b 31-12-10 $1.132b Interest Income & Insurance Premium 11 $880.541m 10 $697.084b Interest Expense 11 ($295.103m) 10 ($222.313m) Other Income 11 $227.717m 10 $137.892m Gain/(Loss) from Investment in Sec 11 ($549m) 10 $111m Impairment Losses for Loans 11 ($85.748m)) 10 ($101.473m) Profit before Tax 11 $277.422m 10 $169.026m Taxation 11 ($70.582m) 10 ($37.207m) Profit after Tax 11 $206.840m 10 $131.819m
Balance Sheet Information
Fixed Assets 31-12-11 $820.366m 31-12-10 $464.289m Investment in Securities 11 $2.697b 10 $893.125m Treasury Bills 11 $745.943m 10 $588.922m Loans & Advances 11 $9.918b 10 $6.877b Cash and Bank Balances 11 $1.707b 10 $1.126b Other Debit Balances 11 $2.092b 10 $516.807m Deposits 11 $1.106b 10 $423.302m Other Credit Balances 11 $14.595b 10 $8.750b Net Assets 11 $1.459b 10 $1.292b

Proposed Dividend 0.4 cents
Proposed Bonus Nil
Qualification Date 22nd May 2012
Closure Date 23rd May, 2012
AGM Date To be Advised
Payment Date 5th June, 2012
AGM Venue To be Advised

[Dicobody]

http://www.nse.com.ng/Financial%20Ne...ed29032012.pdf

[knightofdelta]

A South African pension manager invests $250 million in ETI. Details later...

[cashrules]

Originally Posted by knightofdelta

A South African pension manager invests $250 million in ETI. Details later...

So abeg what info do they have that is not in the market already?

[wanaj0]

Originally Posted by knightofdelta

A South African pension manager invests $250 million in ETI. Details later...

ETI is through with their capital raising plan.

The pension manager is a subsidiary of the government pension fund

Not sure the effect it will have on the NSE since the stock is quoted on 3 exchanges.

ETI is now a MUST have in the portfolio

[cashrules]

Originally Posted by wanaj0

ETI is through with their capital raising plan.

The pension manager is a subsidiary of the government pension fund

Not sure the effect it will have on the NSE since the stock is quoted on 3 exchanges.

ETI is now a MUST have in the portfolio

Bros.. sorry o! I no understand why ETI is a MUST in my portfolio?

[wanaj0]

Originally Posted by cashrules

Bros.. sorry o! I no understand why ETI is a MUST in my portfolio?

Why is it not in your portfolio NOW?

[cashrules]

Originally Posted by wanaj0

Why is it not in your portfolio NOW?

Proper Naija man..always answering questions with questions....

I have just two banks in my main portfolio and it has not met my criteria for now....In my trading account where i now have a couple of other banks...it did not meet the criteria for my speculative punts...

[knightofdelta]

By Renee Bonorchis
April 19 (Bloomberg) -- South Africa’s Public Investment Corp., Africa’s largest pension fund manager, said it invested
$250 million in Togolese lender Ecobank Transnational Inc., the continent’s most geographically diverse bank.
“The $250 million share purchase will be affected by the issuance of 3,125,000,000 shares in Ecobank, representing 19.58 percent of the total outstanding number of shares,” the Pretoria-based PIC and Ecobank said in a joint statement e- mailed today. “The transaction will bolster Ecobank’s Tier 1 capital and further enhance its ability to grow its business across the African continent.”
Ecobank has operations in 32 African countries, more than any other lender. Nedbank Group Ltd., the South African bank controlled by Old Mutual Plc, said in December it had provided the Lome, Togo-based bank with a $285 million loan to finance expansion and may take a 20 percent stake in Ecobank by the end of next year. The PIC, which manages almost 1 trillion rand
($127 billion), said last month it will invest as much $6.5 billion across the continent this year after reaping returns of more than 18 percent in 2011.
“With this one investment, we will be immediately optimizing our footprint on the rest of the continent, an action that would otherwise require multiple investments and huge effort as well as resource allocation,” Elias Masilela, chief executive officer of the PIC, said in the statement.
Ecobank closed unchanged at 11.43 naira in Lagos trading, and Nedbank fell 0.6 percent to 169.05 rand in Johannesburg.
Mike Brown, CEO of Nedbank, didn’t immediately respond to e-mailed questions.

Got this from Rencap...

[cashrules]

Originally Posted by knightofdelta

Got this from Rencap...

am a bit confused.....did they issue new shares or convert part of the loan into new shares?

I dont also understand how buying shares from the floor would add to a bank's Tier ! capital....Abeg KOD help me break am down..

[dr.abrahamb]

Originally Posted by cashrules

am a bit confused.....did they issue new shares or convert part of the loan into new shares?

I dont also understand how buying shares from the floor would add to a bank's Tier ! capital....Abeg KOD help me break am down..

Its not really buying from the floor. The bank has AUTHORISED shares, of which part is already ISSUED out. The issued shares have already been bought and paid for. The balance between this issued and AUTHORISED shares is available for future purposes should the company need to raise capital or give bonus shares.

E.g. If authorised is 20billion units and issued is 16billion units, the bank has an excess of 4billion units that have not been paid for. It can issue 1billion units from this leftover to raise capital or give bonus. This now makes its issued/outstanding to stand at 17billion units, while authorised remains 20billion units; but with a balance/leftover of 3billion units not paid for.

Its only the shareholders that can increase the authorised share capital. Oga KOD go throw more light here.

[horlads]

Originally Posted by cashrules

am a bit confused.....did they issue new shares or convert part of the loan into new shares?

I dont also understand how buying shares from the floor would add to a bank's Tier ! capital....Abeg KOD help me break am down..

They are issuing new shares...

[wanaj0]

Originally Posted by cashrules

Proper Naija man..always answering questions with questions....

I have just two banks in my main portfolio and it has not met my criteria for now....In my trading account where i now have a couple of other banks...it did not meet the criteria for my speculative punts...

ETI offers you what you get from Nigerian banks PLUS diversification to other resource rich markets plus better corporate governance. Impressed with how they've grown the bank over the years.

With the completion of their capital raising, I expect them to fight for share of the South African market.

They must have completed their proposed $500m (I think) capital raising now.

[cashrules]

Originally Posted by wanaj0

ETI offers you what you get from Nigerian banks PLUS diversification to other resource rich markets plus better corporate governance. Impressed with how they've grown the bank over the years.

With the completion of their capital raising, I expect them to fight for share of the South African market.

They must have completed their proposed $500m (I think) capital raising now.

just hope these resource rich market no follow for the ones wey UBA go troway shareholders money sha....