Monthly Fixed Income Market Update | April 2024-Bearish Streak Sustained
Higher Yields Propelled by Interest Rates The Nigerian secondary Fixed Income (FI) market continued its bearish trend in April 2024. The Nigerian Treasury bills (NT-bills) market witnessed a significant negative performance, as the average yield surged by 454bps Month-on-Month (MoM) to close at 22.20%, reflecting the high interest rate environment. In contrast, the FGN Bond […]
Q1:2024 Earnings Update | ZENITH | Interest & Non-Interest Income Improved Profitability
Interest & Non-Interest Income Improved Profitability Gross earnings for Q1:2024 increased by 189.12% YoY to NGN780.62bn on the back of increased interest and non-interest income. Interest Income grew by 154.94% YoY to NGN488.55bn while Non-Interest Income climbed 272.72% YoY to NGN292.07bn. On the other hand, Operating Expenses increased by 101.37% YoY to NGN199.77bn following a […]
Q1:2024 Earnings Update | GTCo | Performance Bolstered by Fair Value Gain
Performance Bolstered by Fair Value Gain Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew […]
Q1:2024 Earnings Update | UBA | Impressive Performance Riding on Core Banking Income
Impressive Performance Riding on Core Banking Income United Bank for Africa Plc. recently released its unaudited Q1:2024 financial result. Gross earnings grew 110.25% YoY to NGN570.16bn following impressive interest and non-interest income growth. Interest Income soared 129.71% YoY to NGN440.76bn while Non-Interest Income grew by 63.17% YoY to NGN129.39bn. On the other side, Operating Expenses […]
