ACCESSCORP | Banking | H1:2024 Earnings Note | Higher Cost of Fund Limits Bottomline
In its recently released audited H1:2024 results, Access Holdings’Gross Earnings grew by 133.56% YoY1
to NGN2.20trn mainly due to the spike in interest income (+142.59% YoY to NGN1.47trn) and non-interest income (+116.11% YoY to NGN719.83bn), an offshoot of the fair value and foreign exchange gain. Elsewhere, Operating Expenses increased by 127.61% YoY to NGN719.10bn, following higher
UBA | Banking | H1:2024 Earnings Note | Loss on Derivatives Drags Performance
United Bank for Africa Plc recently released its audited H1:2024 financial result. Gross earnings grew by 39.65% YoY to NGN1.37trn following impressive interest income growth.
Weekly Commentary and Stock Recommendation: 30th September – 4th October 2024
Last week, the market lost NGN596.61bn due to selloffs in DANGCEM, BUACEMENT and FBNH, which caused the market to lose 0.95% Week-on-Week (WoW). However, we saw gains in sectors such as Oil and Gas, Insurance and Consumer Goods sectors, as investors bought into tickers such as SEPLAT, NEM and INTBREW respectively.
