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  • Re: GTBank Post #288850
    Posted at: 3:11 pm, 24th Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Waves;288843 wrote:
    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf

    https://www.thecable.ng/foreign-exchange-gains-lift-gtbs-profit


  • Re: GTBank Post #288849
    Posted at: 12:08 pm, 23rd Mar 2017
    by nosa2. SMN . Joined: 23rd October 2008. Thanked 312 times.

    Waves;288843 wrote:
    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf

    With what the economy went through last year I am amazed as to how some people are bullish on our banks. The government is betting heavily on peace in the Niger Delta and every Nigerian should be praying this gamble works out. If the gamble pays then this is seems to be the bottom for Nigerian equities. However, while I am beginning to get bullish on Nigeria again I am still very weary of the banks. A lot of small businesses have gone under and NPLs are only going to skyrocket this year.


  • Re: Economicwatch Post #288848
    Posted at: 10:50 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: Bond investment Post #288847
    Posted at: 10:14 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    migiets;288846 wrote:
    Are the rules for trading on it out yet?.

    Have not seen any but I suspect they will be trading on the NSE rather than FMDQ


  • Re: Bond investment Post #288846
    Posted at: 10:04 am, 23rd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    Waves;288845 wrote:
    Correct. The drift will be gradual. As soon as the bond start trading and people see that they can sell when they want, subscription will pick up. With generous commissions from DMO, those brokers may even start discouraging people from buying shares in to buying these bonds.

    Are the rules for trading on it out yet?.


  • Re: Bond investment Post #288845
    Posted at: 9:44 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    migiets;288842 wrote:
    This is the first one. Let us see subsequent ones before we can accurately judge. It seems the 50m minimum entry for NTB has really not deterred people from NTB.

    Correct. The drift will be gradual. As soon as the bond start trading and people see that they can sell when they want, subscription will pick up. With generous commissions from DMO, those brokers may even start discouraging people from buying shares in to buying these bonds.


  • Re: GTBank Post #288844
    Posted at: 9:39 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Getthere;288823 wrote:
    Am surprised too,at GTB for that. I hope it is not connected to the Etisalat loan or Power sector loans.

    Would be good if the details are made available

    I understand she has served out her full term as ED/DMD and Segun is not going yet. CBN rules require her to leave.


  • Re: GTBank Post #288843
    Posted at: 9:38 am, 23rd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.

    Getthere;288840 wrote:
    https://www.bloomberg.com/news/articles/2017-03-23/east-lags-west-as-nigeria-s-biggest-bank-outshines-kenyan-peer

    East Lags West as Nigeria's Biggest Bank Outshines Kenyan Peer


    Pitting Nigeria and Kenya’s biggest banks by market value against each other shows just how much state intervention hurt Nairobi-based Equity Group Holdings Ltd., while Guaranty Trust Bank Plc in Lagos fended off a contracting economy by ..........

    Don't take these kinds of analysis seriously. Strip out the 'FX Revaluation gain" of N87 billion that GT embeded in to those accounts and you get a better picture. Without this one-off paper profit, GT Bank's profit actually went down driven by loan loss provision which went up 500% and an increase in operating expenses. While that FX gain is unlikely to reoccur next year (with the way the Naira is going), the last may not have been heard of that loan loss provision.

    A lot of uniformed commentaries are made by people at Bloomberg and some London based analyst. Try to be more discerning.

    http://gtbank.com/images/documents/investors/2017/FY-2016-Presentation.13032017.pdf


  • Re: Bond investment Post #288842
    Posted at: 9:31 am, 23rd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    Getthere;288841 wrote:
    This does not look like a success story to me

    This is the first one. Let us see subsequent ones before we can accurately judge. It seems the 50m minimum entry for NTB has really not deterred people from NTB.


  • Re: Bond investment Post #288841
    Posted at: 9:03 am, 23rd Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    migiets;288837 wrote:
    FEDERAL GOVERNMENT OF NIGERIA SAVINGS BOND ALLOTMENT RESULT
    (MARCH 2017)

    https://www.dmo.gov.ng/fgn-bonds/savings-bond/1997-fgn-savings-bond-allotment-results/file

    This does not look like a success story to me


  • Re: GTBank Post #288840
    Posted at: 8:31 am, 23rd Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    https://www.bloomberg.com/news/articles/2017-03-23/east-lags-west-as-nigeria-s-biggest-bank-outshines-kenyan-peer

    East Lags West as Nigeria's Biggest Bank Outshines Kenyan Peer


    Pitting Nigeria and Kenya’s biggest banks by market value against each other shows just how much state intervention hurt Nairobi-based Equity Group Holdings Ltd., while Guaranty Trust Bank Plc in Lagos fended off a contracting economy by ..........


  • Re: Zenith Bank Post #288839
    Posted at: 4:47 am, 23rd Mar 2017
    by arostuff. SMN . Joined: 25th September 2010. Thanked 5 times.

    Breaking !!!! Why did zenith bank suspend the100 billion capital rasing exercise, how would they get capital to finance loan and project. without raising this capital am sure the share price of zenith would tank seriously


  • Re: Economicwatch Post #288838
    Posted at: 5:02 pm, 22nd Mar 2017
    by duduspace. SMN . Joined: 13th February 2007. Thanked 345 times.

    migiets;288834 wrote:
    Naira now exchanging for between 400-410.

    www.abokifx.com

    Price of rice needs to come down fast.

    The reserves actually reversed marginally yesterday just after i spoke :D so Oga Nosa's message of caution is a timely one and sustainability of CBN interventions is still very much under scrutiny. I however still think the country is on the right track. Still watching the trend, rate of accretion has been slowing down recently but this is the first sign of a reversal since late October 2016.


  • Re: Bond investment Post #288837
    Posted at: 4:41 pm, 22nd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    FEDERAL GOVERNMENT OF NIGERIA SAVINGS BOND ALLOTMENT RESULT
    (MARCH 2017)

    https://www.dmo.gov.ng/fgn-bonds/savings-bond/1997-fgn-savings-bond-allotment-results/file


  • Re: Forte Oil Post #288836
    Posted at: 4:11 pm, 22nd Mar 2017
    by mecatchcha. SMN . Joined: 19th November 2007. Thanked 36 times.

    baotoghile;288833 wrote:
    Recent price movement of FO is funny!!! Interestingly, the seller may be selling from a special account, which allows different brokers with permitted access to trade on it at the instruction of the account holder. This time, the seller may have a mission given his/her selling method and pricing...

    I sent you a PM.


  • Re: Wapco Post #288835
    Posted at: 2:51 pm, 22nd Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: Economicwatch Post #288834
    Posted at: 2:03 pm, 22nd Mar 2017
    by migiets. SMN . Joined: 1st March 2008. Thanked 319 times.

    duduspace;288832 wrote:
    Una don dey adjust little by little abi ? at least no more flights of fancy of a N1000 rate ? :D
    Albeit, I am still seeing Reserve Accretion, albeit at a slightly lower rate since the interventions begin. I will notify you when it reverses and begins to go southwards afterall na 30 days MA so we will know what negative effects (if any) the CBN interventions are having on the reserves by this time next month.

    Naira now exchanging for between 400-410.

    www.abokifx.com

    Price of rice needs to come down fast.


  • Re: Forte Oil Post #288833
    Posted at: 6:13 am, 22nd Mar 2017
    by baotoghile. SMN . Joined: 20th October 2007. Thanked 107 times.

    Recent price movement of FO is funny!!! Interestingly, the seller may be selling from a special account, which allows different brokers with permitted access to trade on it at the instruction of the account holder. This time, the seller may have a mission given his/her selling method and pricing...


  • Re: Economicwatch Post #288832
    Posted at: 3:49 pm, 21st Mar 2017
    by duduspace. SMN . Joined: 13th February 2007. Thanked 345 times.

    PETERICHY;288818 wrote:
    During this damage control period if you are lucky to get USD @#450 mop as much as you can because our next port of call is N600.

    Thank me later.

    *ThE OcToPuS*

    Una don dey adjust little by little abi ? at least no more flights of fancy of a N1000 rate ? :D
    Albeit, I am still seeing Reserve Accretion, albeit at a slightly lower rate since the interventions begin. I will notify you when it reverses and begins to go southwards afterall na 30 days MA so we will know what negative effects (if any) the CBN interventions are having on the reserves by this time next month.


  • Re: The Banks Post #288831
    Posted at: 7:57 am, 21st Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: MarketWatch Post #288830
    Posted at: 5:48 am, 21st Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    https://www.forbes.com/sites/mfonobongnsehe/2017/03/20/africas-richest-man-aliko-dangote-to-invest-700-million-in-sugar-processing/#483f7563444a


    Africa's Richest Man Aliko Dangote To Invest $700 Million In Sugar Processing


    Africa’s richest man, Aliko Dangote plans to invest $500 million in establishing a sugar processing facility in Nasarawa State, Nigeria.

    According to a report by Channels Television, Dangote disclosed this on Friday during a courtesy call to the state governor Tanko Al-Makura in Lafia, the state capital.............


  • Re: Guinness Post #288829
    Posted at: 7:15 pm, 20th Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    http://www.nse.com.ng/Financial_NewsDocs/16735_GUINNESS_NIG_PLC_-_ANNOUNCEMENT_CORPORATE_ACTIONS_MARCH_2017.pdf


    GUINNESS_NIG_PLC_-_ANNOUNCEMENT_CORPORATE_ACTIONS_MARCH_2017

    ANNOUNCEMENT TO THE NIGERIAN STOCK EXCHANGE AND
    SHAREHOLDERS ON DISPUTE BETWEEN PHARMA DEKO PLC AND
    GUINNESS NIGERIA PLC
    Guinness Nigeria Plc wishes to notify the Nigeria Stock Exchange and our
    shareholders that it has responded to a court process filed by Pharma Deko
    Plc which alleges that Guinness Nigeria is contractually indebted to Pharma
    Deko Plc in the sum of N175, 699, 317.99 representing an arbitral award made
    against the company and in favour of Pharma Deko Plc and also suggests
    that Guinness Nigeria is unable to pay this debt.
    We strongly dispute and deny that the company is indebted to Pharma Deko
    Plc in the stated amount or any amount at all. Our solicitors have filed a
    robust defence to Pharma Deko’s claims in court, including an application
    asking the court to strike out the petition for want of jurisdiction being a
    matter filed in abuse of court processes.
    The claim by Pharma Deko Plc in the court process is for a nominalamount
    when compared with the revenue, cashflow and balance sheet of the
    company. The management of Guinness Nigeria Plc is entirely confident of
    being able to repudiate the claims in court.
    We wish to assure the market, our shareholders, customers, employees and
    other stakeholders that the company is capable of meeting its financial and
    other obligations and that it continues to operate as a going concern.
    Dated the 13th day of March 2017




    Wat is going on here?Guiness and Phama deko


  • Re: Nigerian Treasury Bills Post #288828
    Posted at: 7:08 pm, 20th Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    Waves;288817 wrote:
    We have to wait and see the exact detailed transactions costs

    The savings bonds is like any other bond. The pricing is based on the discounted cash flows (the quarterly coupons and the principal payment) as well as and the change in general interest rates (duration).

    In your example, having held the bond for 7 months, you would have already collected quarterly coupons twice. At the 7th month, the price you will get will determined by 1) the change of interest rates (if subsequent bond issues come out at lower rates, your bond price would have risen.). 2) The fact that by the 7th month you will have earned, but not yet collected interest, for 1 month. Your price will reflect that

    The attraction for someone to buy from you may that susbsequent bond issues may be limited and the guy is unable to get from DMO or that the subsequent bonds are issued at lower than 13% in which case your bond is more valuable.



    I will be surprised if bankers like this bond. This is a direct assault on their business. This bond cannot be good for bankers. If DMO had relied on them to sell, they would have killed it.


    Thanks for this feedback


  • Re: Okomu Oil Post #288827
    Posted at: 12:14 pm, 20th Mar 2017
    by Waves. SMN . Joined: 12th March 2009. Thanked 271 times.


  • Re: Economicwatch Post #288826
    Posted at: 11:47 am, 20th Mar 2017
    by Getthere. SMN . Joined: 23rd May 2013. Thanked 7 times.

    https://www.bloomberg.com/news/articles/2017-03-19/greenwish-to-invest-280-million-in-nigeria-solar-power-plants


    GreenWish to Invest $280 Million in Nigeria Solar Plants



    GreenWish Partners, a Paris-based independent power producer, will invest $280 million to build solar-power plants in Nigeria that are expected to start producing electricity in the first quarter of next year.

    A plant in the southeastern state of Enugu will produce 100 megawatts, while the company will build two others of 50 megawatts each in the northern Kaduna and ...........


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