Skye Bank

[anekwlc]

Originally Posted by laso

Skye bank gained 0.30k today more than d 5% max limit. Any explanation 4rm any of my ogas who ar close 2 d market.

Not sure where you got this data from. I saw that sky gained .05k which is 1.27%

[Mish]

Based of the results released, the closure day for qualification was supposed to be yesterday 3rd may. The stock was suppose to be marked down by 25k from the N3.95 last trading 3/5/2012. It was supposed to trade at a flat price of N3.70. This was effected in the morning only for it to be reversed later and allowed to be bidded for! Just checked APT Securities and Funds Limited under company report that the closure date is now 10th May. So u were some how right about the 0.3k gain. Notice it too!

[xplicitiyke]

SKYE BANK PLC
May 3rd 2012
Unaudited Results (March, 2012)
Statement of Comprehensive Income
Gross Earnings 31/03/2012 N27.839b 31/03/2011 N24.721b 31/12/2011 N105.245b Interest Income 12 N23.039b 11 N19.626m Audited 11 N72.057b Interest Expenses 12 (N10.666b) 11 (N8.556b) Audited 11 (N29.605b) Fee & Commission & Other Income 12 N4.800b 11 N5.095b Audited 11 N33.188b Loan Impairment Charges 12 (N748m) 11 (N306m) Audited 11 (N23.568b) Operating Expenses 12 (N12.336b) 11 (N11.572b) Audited 11 (N46.295b) Profit before Tax 12 N4.089b 11 N4.287b Audited 11 N5.777b Taxation 12 (N613m) 11 (N890m) Audited 11 (N1.331b) Profit after Tax 12 N3.476b 11 N3.397b Audited 11 N4.446b Total Comprehensive Income 12 N3.330b 11 N3.746b Audited 11 N4.304b
Statement of Financial Position
Plant, Property & Equipment 31-03-12 N30.509b 31-12-11 N32.213b Investment Property 12 N1.671b 11 N2.937b Treasury Bills 12 Nil 11 Nil Loans and Advances 12 N520.442b 11 N518.868b Cash and Bank Balances 12 N82.450b 11 N80.482b Other Debit Balances 12 N361.694b 11 N304.583b Deposits 12 N725.139b 11 N651.326b Other Credit Balances 12 N156.678b 11 N177.174b Net Assets 12 N114.948b 11 N110.584b
Corporate Actions
Proposed Dividend
Nil
Proposed Bonus
Qualification Date
Nil
Nil
Closure Date
Nil
AGM Date
Nil
Payment Date
Nil
AGM Venue
Nil
Notes

[cashrules]

SKYE BANK PLC
May 2, 2012
Audited Results (Dec. 31, 2011)
Corporate Actions
Proposed Dividend 25 Kobo
Proposed Bonus Nil
Qualification Date May 10th 2012
Closure Date May 11h – 17th 2012
AGM Date Thursday, May 24th, 2012
Payment Date May 31st, 2012
AGM Venue Lagos Oriental Hotel, Lekki, Lagos

Please note that this information has been communicated to the market on April 16, 2012. However, the bank through its letter to The Exchange dated April 30, 2012 made amendments to the dates. This information therefore supersedes the one of April 16, 2012.

[saheewale]

Skye Bank says Oil & Gas loans exposure now $1bn

[kazeemy]

Skyebank is looking cheap or is this a trap? anyone?

[cashrules]

SKYE BANK PLC
June 5, 2012
Q3 (September, 2012) Earnings Forecast
INCOME STATEMENT ITEMS
Gross earnings N99.710b
Profit before tax N16.392b
Taxation (N2.459b)
Profit after Tax N13.933b

FINANCIAL POSITION
Loans & Advances N572.377b
Deposit Liabilities N887.363b
Shareholders’ fund N133.814b

Hmmmmm very very ambitious!!!

[anekwlc]

Originally Posted by cashrules

SKYE BANK PLC
June 5, 2012
Q3 (September, 2012) Earnings Forecast
INCOME STATEMENT ITEMS
Gross earnings N99.710b
Profit before tax N16.392b
Taxation (N2.459b)
Profit after Tax N13.933b

FINANCIAL POSITION
Loans & Advances N572.377b
Deposit Liabilities N887.363b
Shareholders’ fund N133.814b

Hmmmmm very very ambitious!!!

This is Earning Forecast. What of Earning surprises (Non performing loan, etc)?

[1himself]

SKYE BANK…LOW OUTSTANDING SHARES YET LOW EARNINGS PER SHARE.

No doubt about the Nigerian banks been the movers and shakers of the entire Nigerian Stock Market, one can even hasty generalized that the Nigerian Stock Market is all about the bank. There is however one....

1himself NOTES: SKYE BANK…LOW OUTSTANDING SHARES YET LOW EARNINGS PER SHARE.

[nosa2]

Originally Posted by 1himself

SKYE BANK…LOW OUTSTANDING SHARES YET LOW EARNINGS PER SHARE.

No doubt about the Nigerian banks been the movers and shakers of the entire Nigerian Stock Market, one can even hasty generalized that the Nigerian Stock Market is all about the bank. There is however one....

1himself NOTES: SKYE BANK…LOW OUTSTANDING SHARES YET LOW EARNINGS PER SHARE.

This your analysis is confusing at best.

[1himself]

@Nosa, as much as the write was not written to create confusion...it was also not written to maintain a definite stand...i prefer to write considering both sidess without taking to any of d sides...CHECK d WRITE UP on ETERNA...I JUST LOVE TO WRITE FRM A NEUTRAL POINT OF VIEW...

I will however be glad if u can point out the actual confusing part so that i can burtress....

Much more critical review is welcome...

[knightofdelta]

Originally Posted by 1himself

@Nosa, as much as the write was not written to create confusion...it was also not written to maintain a definite stand...i prefer to write considering both sidess without taking to any of d sides...CHECK d WRITE UP on ETERNA...I JUST LOVE TO WRITE FRM A NEUTRAL POINT OF VIEW...

I will however be glad if u can point out the actual confusing part so that i can burtress....

Much more critical review is welcome...

Three points.

#1: It will be a little bit hard for someone who does not have any finance background to get the message you are trying to pass across. The missing link is the price to earning ratio. If you had inserted that ratio into your analysis, it would have made more sense.

#2: Knightofdelta is not one of Nigeria foremost finance expert.

#3: Knightofdelta did not link treasury bills to good performance of tier 1 banks. He only linked high interest rates, regardless of treasury bill yields. When interest rates are high interbank rates rise and net placers of fund, mostly First bank and GTB, tend to grow revenues and PAT rapidly.

[nosa2]

Originally Posted by 1himself

@Nosa, as much as the write was not written to create confusion...it was also not written to maintain a definite stand...i prefer to write considering both sidess without taking to any of d sides...CHECK d WRITE UP on ETERNA...I JUST LOVE TO WRITE FRM A NEUTRAL POINT OF VIEW...

I will however be glad if u can point out the actual confusing part so that i can burtress....

Much more critical review is welcome...

Let me reverse the question, what message were you trying to put across? That Skye bank has the lowest number of outstanding shares? Or that the EPS is 26k? I'm sure you've got the message clearly in your head but the problem was in trying to put it down.

Please don't take this as some sort of confrontation, cause it's not. Keeping a blog is very good and it's probably more efficient than a CV but you need to be clear on your message.

[1himself]

@KOD....thanks so much....

#1 Response- I ll take note....i only felt the write up was basically comparing EPS with the OS...thats y i didnt put other ratios...

#2 Response- I beg who be KOD? Me i go agree with ur stand if ONLY U CAN LIST 10 FINANCE EXPERT before u....

#3 Response- THANKS SO MUCH FOR THIS....u av just put an end to my puzzled mind..

Godbless U for the review....

[nosa2]

Originally Posted by 1himself

@KOD....thanks so much....

#1 Response- I ll take note....i only felt the write up was basically comparing EPS with the OS...thats y i didnt put other ratios...

#2 Response- I beg who be KOD? Me i go agree with ur stand if ONLY U CAN LIST 10 FINANCE EXPERT before u....

#3 Response- THANKS SO MUCH FOR THIS....u av just put an end to my puzzled mind..

Godbless U for the review....

You're relating earnings per share with outstanding shares? That's equivalent to relating the result of a calculation with one of the factors used in the calculation, there's bound to be a relationship but that relationship doesn't tell you anything and is akin to me telling you that there's a relationship between earnings per share and earnings.

[pegheneji]

Originally Posted by 1himself

@KOD....thanks so much....

#1 Response- I ll take note....i only felt the write up was basically comparing EPS with the OS...thats y i didnt put other ratios...

#2 Response- I beg who be KOD? Me i go agree with ur stand if ONLY U CAN LIST 10 FINANCE EXPERT before him

#3 Response- THANKS SO MUCH FOR THIS....u av just put an end to my puzzled mind..

Godbless U for the review....

????

[1himself]

@nosa....
Ur right with ur assertions..

But this is the summary of what i did....
Two major factors affects the final value of Earnings pershare...

1-PAT
2-OS

If 1 is high and 2 is low then our EPS value will be high and vice versa...

Now in summary...
I noticed skybank having the least OS in d industry in which that shld be a positive prospect in it having an high EPS value...But Skye .26k eps is low cos it does not have high topline n bottomline compare to it peers....

In summary..SKYE ought to have had a greater qone eps had it had a greater PAT..

So am not comparing EPS wit PAT or EARNINGS...I am only suggesting SKYE ought to have been able to leverage out a greater EPS considering it low OS...

[goldsun]

Originally Posted by 1himself

@nosa....
Ur right with ur assertions..

But this is the summary of what i did....
Two major factors affects the final value of Earnings pershare...

1-PAT
2-OS

If 1 is high and 2 is low then our EPS value will be high and vice versa...

Now in summary...
I noticed skybank having the least OS in d industry in which that shld be a positive prospect in it having an high EPS value...But Skye .26k eps is low cos it does not have high topline n bottomline compare to it peers....

In summary..SKYE ought to have had a greater qone eps had it had a greater PAT..

So am not comparing EPS wit PAT or EARNINGS...I am only suggesting SKYE ought to have been able to leverage out a greater EPS considering it low OS...

guess you are just trying to justify what is not necessary. If sky bank is trading at industry high price, then you could come to tell us that its because they have they have high earning per share consequent of low outstanding share. You didn't even consider thier total asset or net asset or even rank them according to thier PAT. I guess there was no message pass

[123.rado]

Originally Posted by 1himself

@nosa....
Ur right with ur assertions..

But this is the summary of what i did....
Two major factors affects the final value of Earnings pershare...

1-PAT
2-OS

If 1 is high and 2 is low then our EPS value will be high and vice versa...

Now in summary...
I noticed skybank having the least OS in d industry in which that shld be a positive prospect in it having an high EPS value...But Skye .26k eps is low cos it does not have high topline n bottomline compare to it peers....

In summary..SKYE ought to have had a greater qone eps had it had a greater PAT..

So am not comparing EPS wit PAT or EARNINGS...I am only suggesting SKYE ought to have been able to leverage out a greater EPS considering it low OS...

Like nosa2 has already said, there is confusion in your analysis. What exactly is it all about? It is easy to say you are being neutral but note that when you blog, you are trying to pass across a focused message which you haven't done here.

You have asked the question "what is the likes of FBN,ZENITH,GTB,ACCESS doing that others could not imitate to at least close-up, even by little, the excess gap in their topline?"

Have you asked yourself what flourmills is doing that dangflour is not doing or what is dangflour doing that honeyflour is not doing? You have to remember things like brand name, goodwill, risk taking, availability of foreign credits at low interest etc to answer your question.

[123.rado]

Originally Posted by goldsun

guess you are just trying to justify what is not necessary. If sky bank is trading at industry high price, then you could come to tell us that its because they have they have high earning per share consequent of low outstanding share. You didn't even consider thier total asset or net asset or even rank them according to thier pat. I guess there was no message pass

gbam!!!