Access Bank Plc (ACCESS.NL): Impressive performance across income lines in Q4 18
Access Bank Plc (Access) full-year 2018 earnings released this morning showed EPS expansion of 53.2% YoY to N3.28 following material decline in loan-loss provision (-57% YoY to N14.7 billion) and increase in net interest income (+6.2% YoY to N173.6 billion). On the latter, we reckon that despite 19.1% YoY growth in interest income (with assets […]
Nestle Nigeria Plc – Compelling Story but Valuation appears pricey
Nestle Nigeria Plc had an impressive performance in 2018 with EPS expanding 28% YoY to N54.26, as the benefits of lower FX loss (-83% YoY to N2.6 billion) following the pay down of its FCY borrowings provided strong support for earnings growth. While, earnings was in line with our expectation of N56.89, the lower than […]
