Skye Bank

[knightofdelta]

@1himself...

SMN is a great classroom. Learn as much as you can...

[1himself]

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

Thanks for the critical review...NO justification meant as am not trying to get an heroic accomplishment with the write up..was only trying to buttress...
The bolded is confusing, i dont think u need to assume or put a conditional statement.... and the underline...Did u check the topic of the write up?

[goldsun]

Originally Posted by 1himself

[/I]
[/U]

Thanks for the critical review...NO justification meant as am not trying to get an heroic accomplishment with the write up..was only trying to buttress...
The bolded is confusing, i dont think u need to assume or put a conditional statement.... and the underline...Did u check the topic of the write up?

i didn't mean to be confrontational, sincerely i almost delete the post immediately after posting it but i later decide against it.

[nosa2]

Originally Posted by 1himself

[/I]
[/U]

Thanks for the critical review...NO justification meant as am not trying to get an heroic accomplishment with the write up..was only trying to buttress...
*The bolded is confusing, i dont think u need to assume or put a conditional statement.... and the underline...Did u check the topic of the write up?

I think you're being unnecessarily defensive on this issue, while your original blog post was confusing and seemingly pointless it does show that you're asking yourself a very important question (thou you don't seem to know it). What you're trying to describe/articulate is the relationship between earnings, share price and market capitalization, now where you're mixing things up is that you're equating market capitalization with outstanding shares, which despite being related aren't the same thing.*

First bank has approximately 30b shares and unity bank has an equal amount but their market capitalization is different because of the price now first bank may make N60b (N2 per share) and unity makes only N10b (N0.30k per share) now this information is useful when looking at first bank only but is entirely useless for comparison purposes because you've not yet included the price factor.*

Basically what you're doing is that you're beginning to visualize the calculations you make (in this case p.e ratio) and this in my opinion is a good thing.*

[overload]

SKYE BANK PLC
July 13, 2012
Unaudited Results (Q2, June, 2012)
Statement of Comprehensive Income
Gross Earnings 31/06/2012 N59.658b 31/06/2011 N48.903b Audited 11 N105.245b
Interest Income 12 N47.882b 11 N37.997b Audited 11 N72.057b
Interest Expenses 12 (N24.749b) 11 (N15.497b) Audited 11 (N29.605b)
Loan Impairment 12 (N1.803b) 11 (N604m) Audited 11 (N23.568b)
Exchange, Commissions & Fees 12 N10.239b 11 N9.929b Audited 11 N25.812b
Investment & Other Income 12 N1.537b 11 N978m Audited 11 N7.376b
Total Operating Expenses 12 (N23.116b) 11 (N25.481b) Audited 11 (N46.295b)
Profit before Income Tax 12 N9.989b 11 N7.321b Audited 11 N5.777b
Taxation 12 (N1.802b) 11 (N1.464b) Audited 11 (N1.331b)
Profit after Tax 12 N8.187b 11 N5.857b Audited 11 N4.446b
Non- Controlling 12 (N3m) 11 (N11m) Audited 11 N39m
Changes in Fair Value of Invest. Available for Sale 12 (N558m) 11 N267m Audited 11 (N181m)
Total Comprehensive Income 12 N7.625b 11 N6.113b Audited 11 N4.304b
Earnings per Share Basic (k) 12 61.93 11 44.31 Audited 11 N33.64

Statement of Financial Position
Plant, Property & Equipment 31-06-12 N30.820b 31-12-11 N32.213b
Due from Banks & Other Financial Institutions 12 N137.619b 11 N32.213b
Held to Maturity Assets 12 N219.948 11 N162.268b
Loans and Advances 12 N613.749b 11 N518.868b
Cash and Cash Equivalents 12 N134.552b 11 N80.482b
Prepayment, Accrued Income & Other Assets 12 N34.573b 11 N28.595b
Deposits & Other Accounts 12 N748.626b 11 N651.326b
Due to Local Banks & Other Fin Institutions 12 N106.884b 11 N33.323b
Borrowings From Local & Foreign Banks 12 N81.550b 11 N68.677b
Accruals & Other Liabilities 12 N144.839b 11 N69.588b
Tax Payables 12 N66m 11 N974m Deferred Tax 12 N2.640b 11 N2.703b
Provisions (Retirement Benefits) 12 N1.560b 11 N1.909b
Net Assets 12 N105.225b 11 N110.584b

[Oracle]

Originally Posted by overload

SKYE BANK PLC
July 13, 2012
Unaudited Results (Q2, June, 2012)
Statement of Comprehensive Income
Gross Earnings 31/06/2012 N59.658b 31/06/2011 N48.903b Audited 11 N105.245b
Interest Income 12 N47.882b 11 N37.997b Audited 11 N72.057b
Interest Expenses 12 (N24.749b) 11 (N15.497b) Audited 11 (N29.605b)
Loan Impairment 12 (N1.803b) 11 (N604m) Audited 11 (N23.568b)
Exchange, Commissions & Fees 12 N10.239b 11 N9.929b Audited 11 N25.812b
Investment & Other Income 12 N1.537b 11 N978m Audited 11 N7.376b
Total Operating Expenses 12 (N23.116b) 11 (N25.481b) Audited 11 (N46.295b)
Profit before Income Tax 12 N9.989b 11 N7.321b Audited 11 N5.777b
Taxation 12 (N1.802b) 11 (N1.464b) Audited 11 (N1.331b)
Profit after Tax 12 N8.187b 11 N5.857b Audited 11 N4.446b
Non- Controlling 12 (N3m) 11 (N11m) Audited 11 N39m
Changes in Fair Value of Invest. Available for Sale 12 (N558m) 11 N267m Audited 11 (N181m)
Total Comprehensive Income 12 N7.625b 11 N6.113b Audited 11 N4.304b
Earnings per Share Basic (k) 12 61.93 11 44.31 Audited 11 N33.64

Statement of Financial Position
Plant, Property & Equipment 31-06-12 N30.820b 31-12-11 N32.213b
Due from Banks & Other Financial Institutions 12 N137.619b 11 N32.213b
Held to Maturity Assets 12 N219.948 11 N162.268b
Loans and Advances 12 N613.749b 11 N518.868b
Cash and Cash Equivalents 12 N134.552b 11 N80.482b
Prepayment, Accrued Income & Other Assets 12 N34.573b 11 N28.595b
Deposits & Other Accounts 12 N748.626b 11 N651.326b
Due to Local Banks & Other Fin Institutions 12 N106.884b 11 N33.323b
Borrowings From Local & Foreign Banks 12 N81.550b 11 N68.677b
Accruals & Other Liabilities 12 N144.839b 11 N69.588b
Tax Payables 12 N66m 11 N974m Deferred Tax 12 N2.640b 11 N2.703b
Provisions (Retirement Benefits) 12 N1.560b 11 N1.909b
Net Assets 12 N105.225b 11 N110.584b

Results don dey come out ooo. This week will be for teh banks!

[hispy99]

Skye Bank falls most in three months

[Gbolu]

Skye bank forecast (jan - dec 2012)

[kazeemy]

maybe someone on this forum can help...

I was just wondering at what price will the new 150 million USD loan be convertible to ordinary shares of skyebank? Because, if it is at the current market price, Skyebank could double it current shares outstanding if the lenders decide to convert the loan. This will significantly change my projections, so it'll be helpful if someone knows.

Thanks

[goldsun]

Originally Posted by kazeemy

maybe someone on this forum can help...

I was just wondering at what price will the new 150 million USD loan be convertible to ordinary shares of skyebank? Because, if it is at the current market price, Skyebank could double it current shares outstanding if the lenders decide to convert the loan. This will significantly change my projections, so it'll be helpful if someone knows.

Thanks

can you provide link this info

[duduspace]

Originally Posted by kazeemy

maybe someone on this forum can help...

I was just wondering at what price will the new 150 million USD loan be convertible to ordinary shares of skyebank? Because, if it is at the current market price, Skyebank could double it current shares outstanding if the lenders decide to convert the loan. This will significantly change my projections, so it'll be helpful if someone knows.

Thanks

Bros, good thinking but you might be overthinking this.
Firstly, the loan is supposed to be used to generate more money or so I'd think? Except something goes badly wrong, I don't think converting the loan and share dilution would be the first option to be taken by the bank.
Not sure how much detail of these deals is subject to mandatory disclosure though.

[hispy99]

Skye Bank Named ‘Best Card Innovation Bank’, Articles | THISDAY LIVE

[hispy99]

Originally Posted by kazeemy

maybe someone on this forum can help...

I was just wondering at what price will the new 150 million USD loan be convertible to ordinary shares of skyebank? Because, if it is at the current market price, Skyebank could double it current shares outstanding if the lenders decide to convert the loan. This will significantly change my projections, so it'll be helpful if someone knows.

Thanks

do you know the details of the conversion?

[kazeemy]

Originally Posted by hispy99

do you know the details of the conversion?

no Idea yet, I have searched every corner of their IR website and there's no details at all. Probably not a big deal....(not sure if its a good idea to invest based on "probably"!)

Will keep looking...

[kazeemy]

OK, sorry for the confusion. The convertible loan matures this year and there's no news of any conversion so far.

The new 150 million USD loan is to be repaid using the banks western union cash flow, looks like its not a bad deal at all...

Skye Bank of Nigeria Rises First Day in Six on Loan Deal - Businessweek

Additional info: They also borrowed another 100 million USD

http://investadvocate.com.ng/index.p...rket&Itemid=66

so total this year is 250 million USD. Considering the current market condition, I think they probably don't have a better option for raising money but the idea is to invest in businesses that can withstand tough times without resorting to serial borrowings. The price is not bad though for their present mess.

[gbengus]

At pe of 4.91,eps 0.62 and book value of .37,this bank is not bad at the current price.What do think guys?

[MalamImam]

Originally Posted by gbengus

At pe of 4.91,eps 0.62 and book value of .37,this bank is not bad at the current price.What do think guys?

With heavy debt overhand, limited leverage, declining returns and possibility of negative stock revaluation, this stock looks scary at the moment!

[nosa2]

Originally Posted by gbengus

At pe of 4.91,eps 0.62 and book value of .37,this bank is not bad at the current price.What do think guys?

O boy p.e of 5 is now cheap? Times have changed

[overload]

Nine months unaudited result; N13B PAT

http://www.nse.com.ng/Financial%20Ne...030%202012.pdf

[Dicobody]

SKYEBANK declares N13.2b PAT in Q3 '12 result,(SP:N4.25k) - Proshare