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.
Guaranty Trust Holding Company Plc H1:2024 Earnings Note | Riding on Interest Income and Unrealized Gains
Riding on Interest Income and Unrealized Gains In its recently released audited H1:2024 results, GTCO’s Gross Earnings jumped by 107.04% YoY to NGN1.39trn mainly due to the spike in interest income (+173.47% YoY to NGN617.89bn) and non-interest income (+111.94% YoY to NGN774.30bn), an offshoot of the unrealized fair value gain on financial instruments on its […]
Zenith Bank Plc H1:2024 Earnings Note | Impressive Performance Riding on Core & Non-Core Income
Impressive Performance Riding on Core & Non-Core Income Zenith Bank Plc published its H1:2024 interim financial results, recording a 120.03% YoY expansion in Gross Earnings to NGN2.05trn. This is on the back of increase in both interest income (+176.69% YoY to NGN1.15trn) and non-interest income (+72.50% YoY to NGN951.94bn) in the period. Meanwhile, Operating Expenses […]
MTNN Plc Q1:2024 Earnings Note – Foreign Exchange (FX) Losses Plague Bottom-line
Below is a detailed overview of the financial performance of MTN Nigeria Communications Plc during the first quarter of 2024. Limited Pass-through for Stronger Revenues In its recently released Q1:2024 financial result, MTN Nigeria Communications Plc (MTNN) recorded higher revenue figures on a Year- on-Year (YoY) basis, recording a 32.54% YoY growth to NGN752.98bn in […]
Q12024 Seplat Unaudited Financial Result | Elevated Tax Expense Drives Net Loss
In Q1:2024, Seplat Energy’s revenue grew by a remarkable 76.73% year-on-year (YoY) to reach NGN268.62bn. This exceptional performance was fueled by substantial growth in both crude oil (up 64.72% YoY) and gas (up 184.84 % YoY) revenue streams. Average production slowed down by 4.8% YoY to 49,258 barrels of oil and equivalent per day (boepd) […]
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 […]
Q1:2024 Earnings Update | ACCESSCORP | Core Banking Income Sets the Stage
In its Q1:2024 financial statements, Access Holdings Plc posted a 129.20% and 148.03% YoY growth in Gross earnings and Profit before Tax to NGN974.24bn and NGN202.74bn respectively. The performance was mainly driven by impressive returns on interest income. Interest Income climbed 183.07% YoY to NGN719.60bn while non-Interest revenue grew 39.86% YoY to NGN254.64bn. On the […]
