Ecobank Transnational plc (ETI)

[wanaj0]

Originally Posted by cashrules

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

Comparing ETI and UBA is like comparing life and death. ETI is a well managed bank with clear strategy of what they are doing. UBA is a poorly managed bank without direction but trying to belong by doing follow follow. UBA is not excelling in ANYTHING. It got so bad that any company using UBA registrars is off my portfolio.

[Mberede]

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

Abeg, my elders make una help me out with this one. Let me state from the outset that my maths has always been atrocious; so I usually cannot count on adding even 1 and 1 to get an acceptable answer. Having said that, I have been looking at some of the figures here and my confusion keeps growing. I am assuming that the 1.76 cents EPS as captured in these results is the same as ONE (US) DOLLAR and SEVENTY SIX CENTS. Now, if One US dollar exchanges for say One Hundred and Fifty naira, how does $1.76 translate to 282 kobo (which is the same as N2.82 kobo.) The thing confuse me no be small. Secondly, if the dividend declared is 0.4 (US)cents, what exactly does it come to in naira? My lousy calculation makes it N6.00 kobo at an exchange rate of N150 for 1$ but then again I am wise enough not to trust my maths. Thank you.

[bivins1]

Originally Posted by Mberede

Abeg, my elders make una help me out with this one. Let me state from the outset that my maths has always been atrocious; so I usually cannot count on adding even 1 and 1 to get an acceptable answer. Having said that, I have been looking at some of the figures here and my confusion keeps growing. I am assuming that the 1.76 cents EPS as captured in these results is the same as ONE (US) DOLLAR and SEVENTY SIX CENTS. Now, if One US dollar exchanges for say One Hundred and Fifty naira, how does $1.76 translate to 282 kobo (which is the same as N2.82 kobo.) The thing confuse me no be small. Secondly, if the dividend declared is 0.4 (US)cents, what exactly does it come to in naira? My lousy calculation makes it N6.00 kobo at an exchange rate of N150 for 1$ but then again I am wise enough not to trust my maths. Thank you.

Bros it say cents not dollar. to make it easy, if you want to convert 1.76 cent to dollar, you divide by 100. your assumption would have been right if it said 1.76 dollars . does this help . all the figures are stated in cents . 1.76 cents is less than a dollar

[waaan5]

Originally Posted by Mberede

Abeg, my elders make una help me out with this one. Let me state from the outset that my maths has always been atrocious; so I usually cannot count on adding even 1 and 1 to get an acceptable answer. Having said that, I have been looking at some of the figures here and my confusion keeps growing. I am assuming that the 1.76 cents EPS as captured in these results is the same as ONE (US) DOLLAR and SEVENTY SIX CENTS. Now, if One US dollar exchanges for say One Hundred and Fifty naira, how does $1.76 translate to 282 kobo (which is the same as N2.82 kobo.) The thing confuse me no be small. Secondly, if the dividend declared is 0.4 (US)cents, what exactly does it come to in naira? My lousy calculation makes it N6.00 kobo at an exchange rate of N150 for 1$ but then again I am wise enough not to trust my maths. Thank you.

Originally Posted by bivins1

Bros it say cents not dollar. to make it easy, if you want to convert 1.76 cent to dollar, you divide by 100. your assumption would have been right if it said 1.76 dollars . does this help . all the figures are stated in cents . 1.76 cents is less than a dollar

Thanks bivins1.
Oga Mberede, 176 cents is ONE (US) DOLLAR and SEVENTY SIX CENTS. This is different from 1.76 cents which is less than 2 cents. Put in another form:

Given exchange rate of $1 = N150, and 100 cents = $1,
Then 1 cent = N(150 divided by 100) = N1.50 (one naira, fifty kobo).

So 1.76 cents = N(1.76 multiplied by 1.50) = N2.64 (two naira and sixty four kobo)
And 0.4 cents dividend = N(0.4 multiplied by 1.50) = N0.60 (sixty kobo dividend).

[Oracle]

Originally Posted by Mberede
Abeg, my elders make una help me out with this one. Let me state from the outset that my maths has always been atrocious; so I usually cannot count on adding even 1 and 1 to get an acceptable answer. Having said that, I have been looking at some of the figures here and my confusion keeps growing. I am assuming that the 1.76 cents EPS as captured in these results is the same as ONE (US) DOLLAR and SEVENTY SIX CENTS. Now, if One US dollar exchanges for say One Hundred and Fifty naira, how does $1.76 translate to 282 kobo (which is the same as N2.82 kobo.) The thing confuse me no be small. Secondly, if the dividend declared is 0.4 (US)cents, what exactly does it come to in naira? My lousy calculation makes it N6.00 kobo at an exchange rate of N150 for 1$ but then again I am wise enough not to trust my maths. Thank you.

Originally Posted by waaan5

Thanks bivins1.
Oga Mberede, 176 cents is ONE (US) DOLLAR and SEVENTY SIX CENTS. This is different from 1.76 cents which is less than 2 cents. Put in another form:

Given exchange rate of $1 = N150, and 100 cents = $1,
Then 1 cent = N(150 divided by 100) = N1.50 (one naira, fifty kobo).

So 1.76 cents = N(1.76 multiplied by 1.50) = N2.64 (two naira and sixty four kobo)
And 0.4 cents dividend = N(0.4 multiplied by 1.50) = N0.60 (sixty kobo dividend).

Oga Waaan, I think you should multiple by N160(1 USD= N160)

So 1.76 cents= (176 x 160)/100 = N2.816

approx. N2.82

[waaan5]

Originally Posted by Oracle

Oga Waaan, I think you should multiple by N160(1 USD= N160)

So 1.76 cents= (176 x 160)/100 = N2.816

approx. N2.82

All correct sir, but the exchange rate of N150/$ was the one 'given' by oga Mberede. That was why I used it to simplify matters.

You used the rate N160/$ given by ETI (which is also right), and I dare say my bureau de change has a different 'given' exchange rate

[bivins1]

Originally Posted by waaan5

All correct sir, but the exchange rate of N150/$ was the one 'given' by oga Mberede. That was why I used it to simplify matters.

You used the rate N160/$ given by ETI (which is also right), and I dare say my bureau de change has a different 'given' exchange rate

Gumon sir, oga u don forget your boy oooo> dividends don dey come , you just det chop alone clean mouth. your boys dey here ooo

[Salida]

Fitch affirms Ecobank Transnational Inc's ratings; removes from RWN

[cashrules]

ECOBANK TRANSNATIONAL INCORPORATED (ETI)
April 30, 2012
Unaudited Results (March, 2012)
STATEMENT OF COMPREHENSIVE INCOME
Income 31-03-12 N57.377b 31-03-11 N35.831b
Impairment Loss for Loans 12 (N3.247b) 11 (N1.864b)
Staff & Other Operating Expense 12 (N41.128b) 11 (N22.548b)
Depreciation & Amortization 12 (N5.136b) 11 (N2.552b)
Profit before Tax 12 N7.947b 11 N8.865b
Taxation 12 (N2.384b) 11 (N2.703b)
Profit after Tax 12 N5.562b 11 N6.162b

STATEMENT OF FINANCIAL POSITION
Fixed Assets 31-03-12 N130.720b 31-12-11 N131.199b
Treasury Bills 12 N148.713b 11 N119.297b
Trade Assets 12 N11.075b 11 N251.087m
Loans and Advances 12 N1.560tr 11 N1.586tr
Cash and Bank Balances 12 N244.250b 11 N273.057b
Other Debit Balances 12 N717.358b 11 N634.613b
Deposits 12 N2.145tr 11 N2.108tr
Other Credit Balances 12 N414.43b 11 N402.917b
Net Assets 12 N252.871b 11 N233.388b

[knightofdelta]

Originally Posted by cashrules

ECOBANK TRANSNATIONAL INCORPORATED (ETI)
April 30, 2012
Unaudited Results (March, 2012)
STATEMENT OF COMPREHENSIVE INCOME
Income 31-03-12 N57.377b 31-03-11 N35.831b
Impairment Loss for Loans 12 (N3.247b) 11 (N1.864b)
Staff & Other Operating Expense 12 (N41.128b) 11 (N22.548b)
Depreciation & Amortization 12 (N5.136b) 11 (N2.552b)
Profit before Tax 12 N7.947b 11 N8.865b
Taxation 12 (N2.384b) 11 (N2.703b)
Profit after Tax 12 N5.562b 11 N6.162b

STATEMENT OF FINANCIAL POSITION
Fixed Assets 31-03-12 N130.720b 31-12-11 N131.199b
Treasury Bills 12 N148.713b 11 N119.297b
Trade Assets 12 N11.075b 11 N251.087m
Loans and Advances 12 N1.560tr 11 N1.586tr
Cash and Bank Balances 12 N244.250b 11 N273.057b
Other Debit Balances 12 N717.358b 11 N634.613b
Deposits 12 N2.145tr 11 N2.108tr
Other Credit Balances 12 N414.43b 11 N402.917b
Net Assets 12 N252.871b 11 N233.388b

We need very good explanations for the items in bold...

I thought Oceanic bank was already clean, what is with the plenty impairments and amortizations again? And why the almost 100% increase in staff and operating expenses? Looks like it is better to be a staff of ETI than be a shareholder.

[emmanuel ewumi]

Originally Posted by knightofdelta

We need very good explanations for the items in bold...

I thought Oceanic bank was already clean, what is with the plenty impairments and amortizations again? And why the almost 100% increase in staff and operating expenses? Looks like it is better to be a staff of ETI than be a shareholder.

It is always better to be a worker in Ecobank and ETI than to be a shareholder in both banks.

UBA is worst it is better to be a top management staff in UBA, than to be a worker, customer or shareholder.

[Salida]

Ecobank, Radisson Hotel Acquire Oceanic Real Estate Assets, Articles | THISDAY LIVE

[Salida]

Ecobank to Raise $2bn Next Year for Expansion, Articles | THISDAY LIVE