immanuello:
you are very right, have been careful not to be trapped cos the exposure of banks to oil and gas and more stiff environment is a serious concern on banking stocks. But man must be make profit and being smart enough not be trapped.I have been careful of banks that are too much exposed. d likes of skyebank,uba, fbnh can not survive.

How do you mean by 'they can't survive'? Have you heard of Hedging, Options and other derivatives b4? Most of those big banks (UBA, FBNH, ZENITH) hedged 80% of their Oil and Gas exposure and the effect of drop of global Oil Prive have lil or no effect on their assets. I don't have any exposure in bank shares for now but i think the reason why most of shares are trading below book value is MAJORLY hinged on POLITICAL/Country Risk (Uncertainty on next election) as a whole

Aks:
How do you mean by 'they can't survive'? Have you heard of Hedging, Options and other derivatives b4? Most of those big banks (UBA, FBNH, ZENITH) hedged 80% of their Oil and Gas exposure and the effect of drop of global Oil Prive have lil or no effect on their assets. I don't have any exposure in bank shares for now but i think the reason why most of shares are trading below book value is MAJORLY hinged on POLITICAL/Country Risk (Uncertainty on next election) as a whole

Thanks so much for your comment sir , i was wondering
They ve been surviving for years despite all economic /political challenges , there re so many info we don't know about these banks

Aks:
How do you mean by 'they can't survive'? Have you heard of Hedging, Options and other derivatives b4? Most of those big banks (UBA, FBNH, ZENITH) hedged 80% of their Oil and Gas exposure and the effect of drop of global Oil Prive have lil or no effect on their assets. I don't have any exposure in bank shares for now but i think the reason why most of shares are trading below book value is MAJORLY hinged on POLITICAL/Country Risk (Uncertainty on next election) as a whole

what i meant by "they cant survive " is the possiblity of not being able to make huge profit and a high probability of loan write-off which will affect good dividend distribution that we would have been waiting for.i. hope i made myself cleared to you.I am only talking about investor profit perspective.

Born2berich:
UBA Changes Offer Price and Closure Date of Right issue

http://www.proshareng.com/news/25892.html

Dey will soon shift to 3#. Yeye pupil, its only d less informed investo them go catch!!

Krisuba:

Dey will soon shift to 3#. Yeye pupil, its only d less informed investo them go catch!!

Rights Issue at N3.50 when UBA closed N3.42 on the NSE yesterday

Born2berich:
UBA Changes Offer Price and Closure Date of Right issue

http://www.proshareng.com/news/25892.html

Everything scatter scatter !

Aks:
How do you mean by 'they can't survive'? Have you heard of Hedging, Options and other derivatives b4? Most of those big banks (UBA, FBNH, ZENITH) hedged 80% of their Oil and Gas exposure and the effect of drop of global Oil Prive have lil or no effect on their assets. I don't have any exposure in bank shares for now but i think the reason why most of shares are trading below book value is MAJORLY hinged on POLITICAL/Country Risk (Uncertainty on next election) as a whole

if most banks hedge, why did cbn tell them to provision for 150per cent of alll loans to oil n gass coys?

What effect will postponement of elections have on the market?

alphabanks:
What effect will postponement of elections have on the market?

Bulls

Bulllsss is here

alphabanks:
What effect will postponement of elections have on the market?

. It's very unlikely that the election will be post phoned.

FrankTalk1:
. It's very unlikely that the election will be post phoned.

Well, we're not sure 'post phoned', but there's a very big possibility that it'll be postponed.

MiCarino:


Well, we're not sure 'post phoned', but there's a very big possibility that it'll be postponed.

Bitl, are you a teacher?

Election has been postponed for 6 weeks: https://www.nairaland.com/2135365/elections-shifted-march-28-april

jamace:
Bitl, are you a teacher?

Bitl, someone has to take on that role once in a while.

jamace:
Bitl, are you a teacher?

Election has been postponed for 6 weeks: https://www.nairaland.com/2135365/elections-shifted-march-28-april

not yet,,,, may be tonight

Good evening everyone, how much is the minimum amount I can use to buy stock on Morgan capital?

jamace:
Bitl, are you a teacher?

Election has been postponed for 6 weeks: https://www.nairaland.com/2135365/elections-shifted-march-28-april

. It's a keypad error my bro. We all experience it sometimes when typing ,especially when using mobile phone. Thanks to the ' teacher' any way.

Kevostica:

Bulls

Bulls in all this uncertainty I do not really see this happening. We might see more pressure on the Naira in the next couple of weeks and I wont be surprised if we see a N220/$1 in the parallel market soon.

UBKtech:

Rights Issue at N3.50 when UBA closed N3.42 on the NSE yesterday

this stock will soon sell lower if not now then it will be by d time fye 2014 is release. But i personally Will be waiting @#2.30 junction if mr market can give a gift out.

@ALL, what would be the likely impact of this development on our local Bourse?

Interbank rates rise on CRR withdrawal
February 7, 2015 | Filed under: main story | Author: Editor

The interbank lending rates climbed 6.5 percentage points on Friday to 15.75 percent on average from 9.25 percent last week, after the central bank debited commercial lenders’ account to meet the banks’ cash reserves requirement (CRR) this week.

Traders said the Central Bank of Nigeria (CBN) withdrew about N167 billion ($861.7m) on Wednesday, draining liquidity.

The CBN requires commercial lenders to set aside 75 percent of public sector and 15 percent of public sector deposits in liquid cash in their account with it. The regulator debit banks accounts every months to enforce this requirement.

Banks’ cash balance with the central bank dropped to about 64.6 billion naira on Friday, compared with 393 billion naira last week.

“We see rates rising further next week due to anticipation of further liquidity drain from NNPC (the state-owned energy company) cash withdrawal and funding for bond sales,” one dealer said.

http://businessdayonline.com/2015/02/interbank-rates-rise-on-crr-withdrawal/#.VNa5A_mUeSo

The postponement is no good news. We need to put this election behind us and move on quickly. I don't expect the market to react positively to this news. But we should realise that anticipation of or release of some positive year end results and corporate actions might lift the market a little before March 28.

BTW, SMN must be on fire now with this news. To open the site sef they fear me.

kotlass:
The postponement is no good news. We need to put this election behind us and move on quickly. I don't expect the market to react positively to this news. But we should realise that anticipation of or release of some positive year end results and corporate actions might lift the market a little before March 28.

BTW, SMN must be on fire now with this news. To open the site sef they fear me.

hahaahah. carry fire extinguisher go there naa.

aljpimp:
Good evening everyone, how much is the minimum amount I can use to buy stock on Morgan capital?

I think is about 20k. Not so sure tho. (plus 2500 for yearly fee )

jauntty:
I think is about 20k. Not so sure tho. (plus 2500 for yearly fee )

oh okay. Thanks so much..

aljpimp:
oh okay. Thanks so much..

It is N20k...Just got info on that last week.
Happy JIJO...hheheheheheeheh

DangSugar
Dangflour...hmnnnnnnnnnn
some2 will not run....i beg ooh

Naira just hit an all time low at the interbank market despite the CBN's intervention,the naira is also poised to go low within this week.

Can the great grand papa bear be looming in the NSE?? Only time will tell..

#contrarian mode activated

@FranklinRich - Smart investors will still make money irrespective of the condition - that is the IRONY of it