TWO WORST THINGS THAT SHOULDN'T HAPPEN TO ANYONE IS ...

https://www.nairaland.com/3560501/holineness-righteousness-revival-daily-messages/17#71532804

Nigeria bonny light oil 83.65

wanaj0:


That's because of accounting abracadabra. They created a capital reduction account and set their negative retained earnings against it.

http://www.wemabank.com/wema-bank-gets-shareholder-approval-capital-reorganisation/

accounting abracadabra indeed. one of my oga pointed out this to yesterday that they move fund from share premium to retained earnings "Notes 30"

http://www.nse.com.ng/Financial_NewsDocs/22905_WEMA_BANK_PLC._FINANCIAL_STATEMENTS_JULY_2018.pdf

may be soon now they will say they gets shareholders approval to do share reconstruction.

veecovee:
Nigeria bonny light oil 83.65

oil may likely fall today but not a threat to it long time bullish

Bezzle:


Please sir what in your opinion is the fair price for WEMA bank
Also does it get a buy rating from you?

NobodyKnows:

Does that mean it’s a good buy at the currentprice?

may be u sees wema for 58kobo as a cheap price, it actually expensive base on Q2. though anything can change in 2nd half of the year.

wema price 0.58 , eps 0.04 , pe 14.5 , roe 3% etc

STANBIC bank @ N44 is cheaper than this stock talkless of zenith , eti and so on

Godlylifeoneart:

Register with
Easyequities.co.za

They are the cheapest I. SA
They offer you access to US equity thru their platform

Thanks bro. Been actually looking for broker in SA that doesn't charge all those account maintenance fees, access fees, monthly fees, minimum transaction amount etc. Brokers over there are not smiling.

Respect Sir.

Nothing escaped your eye when it comes to FA. Hope I can build my skill sets to match yours in a few years.

wanaj0:


That's because of accounting abracadabra. They created a capital reduction account and set their negative retained earnings against it.

http://www.wemabank.com/wema-bank-gets-shareholder-approval-capital-reorganisation/

Intbrew also sells the following products

Budweiser
Hero
Eagle beer
Castle Milk Stout
Castle light
1960 Rootz

Those of you who are from the east or live there know how popular Hero is there.

DOLLARTEX:
you are right,life is owned by nb.I was thinking since they fall within similar price rate,they are owned by intbrew.trophy alone cannot carry them far now.oooo

MSCI PORTFOLIO MOVEMENT- AS AT 25 SEPTEMBER 2018/GENERAL COMMENT

MSCI fire the selling salvo after the MPC report was released. Let us keep it secret that the bull is not yet back. The fund sold yesterday into a very good rally. Let us see what will happen today (seeing what the fund did yesterday is the benefit of having access to this type of information), let others be shouting bull, but personally this week I am resting.

For the expected trading range high and low for the day (watch for the lows this week): High to be at[b] 33345.28[/b] and low at 32765.01.

Caution: This is for information purpose only. Data used are assumed to be correct. However, you may want to verify the data from an appropriate source. Also, Institutions can afford to suffer big losses without going burst compared with an individual, you cannot follow them blindly (you need to at least have some knowledge/your own plan).
N:B

1. Due to the fact so many new people are coming to this forum and may not know this use of following the “big monies that move markets”, I will be indicating why/how to use the information. This will be a permanent future of my post to reduce some comments which may prevent the people that understand the system from confusion by people who have not followed how this started. My comment for today for anybody who doubts the efficacy of following the fund is to look at my recent recommendations for the past 2 months.

2. The fund will still hold some equity, the terms of service states this. Thus no matter the condition of the market, it will not liquidate to Zero. This is an equity fund investing in the Nigeria market.

3. You cannot bear losses like the fund. The pocket of the fund is too deep. Therefore, as an individual you are not suppose to be in the market during the stock markt crash. Before or during the crash, reduce your holding.

4. If you are seeing this type of data on MSCI for the first time. You may need to verify the figures. Go to my previous posts, you will see the various sources where the data can be verified.

currentprice:





may be u sees wema for 58kobo as a cheap price, it actually expensive base on Q2. though anything can change in 2nd half of the year.

wema price 0.58 , eps 0.04 , pe 14.5 , roe 3% etc

STANBIC bank @ N44 is cheaper than this stock talkless of zenith , eti and so on

U are only looking at a single factor (deriavable earnings to equity holders) in isolation.
To draw a BETTER INFERENCE in fundamental analysis, its ALWAYS BEST to look at several indices as a combination.
Let me try and do justice to a few.
Some KEY highlight:
▪ Improving ROAE. ...which prints 7.39% as at H1 2018. Given current indices, It's clear that this line will grow to well above 10% by YE.
▪ fairly steady growth in interest and non-interest income. ...with the latter growing from just above 24% to 33% in 2018 over the corresponding period of last yr.
▪ Improving CAR. ...growing by near 33% from 10% to 13.27% as at H1 2018.
It's important to note that the re-commencement of the 50B bond program will still improve CAR by above 15%. WEMA has already raised the 1st tranche of funds via bonds.
With CAR at above 32% past the CBNs regulatory minimum for banks with national license (like wema), the banks qualifying capital in proportion to its loan is very sound.
...the interpretation of this is that the banks equity measured against its risk assets is very HEALTHY !!
The banks cost of risk is also relatively low. So for those who hold the funny belief that WEMA might go the way of skye, read this;
WEMAs position on CAR, NPL and CoR clearly shows that the bank is very SOLVENT and NEVER in dare need of funds.
The banks NPL ratio of 3.3% is presently about the lowest for quoted banking coys, while its CAR is among the best of tier 2 peers (based on national licencing) in the industry.
▪ The bank also improved their Asset yield following from a better than expected loan growth. YoA currently prints at 18.24%. ...this is KEY.
▪ Management were also fairly efficient as NIM improved from approx 6% in 2017 YE to 7.24% by H1 2018.
▪ Improved LOAN GROWTH. ...coming from the back of a regressive position as at YE 2017 to 3.5% in H1 2018. The bank also expects this to hit 10% by YE.
▪ Improving customer deposit. ...from a previous all time low to 39% as at H1 2018.
With the banks present degree of Innovation, this line may well hit above 50% by YE.
▪ Despite a slightly higher OPEX and cost to income ratio, the bank still grew their net income line. ...which reflected in their ROAE, ROAA and Equity Multiplier.
Suffice to say that the main drivers for the increase in their expense line was as a result of their key technological developments and brand positioning efforts. (pls refer to the NTS)
...and so over a time adjusted basis, these innovations will most likely transform into higher earnings in TOPLINE.
▪ The bank has also been very innovative with the changing tides of the economy in other to better build on their interest income and net margin.
WEMA is currently one of the best fintech banks in Nigeria.
...their fintech space, ALAT presently speaks volume of the banks future earnings drive.

If one can read between the lines and properly dymisify these figures, u would see that WEMA is a BARGAIN at current market price !!
This bank has witnessed a remarkable turnaround in the past few yrs. Needless to say that it is a GREAT GROWTH stock !!
...those who know, know what they need to continue to do.

I also need to remind u that the essence of the banks recent capital reduction exercise was to create the needed room for dividend payment this year.
...the bank gave guidance to this when it said it will pay a dividend this yr before completing their bond raise.

NOTE: There is absolutely NOTHING like a planned share reconstruction. ...it's important not to put out false news.
WEMA is not the only bank with a high OS.

But I do agree that there are better banking coys in the market now. UBA, ZENITH, FCMB, and STERLING are currently selling at good bargains, but not STANBIC. Dont be deceived by the Nos from STANBIC. One of this days, I shall do an expose on that coy. Current price is at a premium to true valuation.

But folks should always remmember that due diligence is still advised as always pls.

Enough said.

Good morning.

We begin our pre-market coverage of the Nigerian Stock Exchange (NSE).

Pre market runs from 9.30 to 10am daily on the NSE.

During this period, investors can place orders, but no trade occurs.

Figures will take the format Bid(k) vs Offer(k).

Bid represents the amount of stocks people want to buy.

Offer the number of stocks, people wish to sell.

K represents thousands.

Net bid means there are no offers for a stock.

Net offer means there are no buyers for a stock as at pre market.

Bid vs Offer figures are subject to change all through the day.

Access Bank 9k bid vs 13k offered

Dangote Cement 50k bid vs 1k offered

FBNH 2k bid vs 8k offered

Seplat 200 units bid vs 100 units offered

UBA 57k bid vs 200k offered

Wapco 195k bid vs 20k offered

Zenith Bank 10k bid vs 500k offered

Dangote Flour 20k bid vs 13k offered

Dangote Sugar 30k bid vs 4k offered

Guaranty Trust Bank 1k bid vs 1k offered

Guinness 1k net offer

International Breweries 1k bid vs 4k offered

Nigerian Breweries 7k bid vs 950 units offered

PZ Cussons Nigeria 500 units bid vs 13k offered

Unilever Nigeria 21k bid vs 2k offered

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Infinitisi:


Thanks bro. Been actually looking for broker in SA that doesn't charge all those account maintenance fees, access fees, monthly fees, minimum transaction amount etc. Brokers over there are not smiling.

It is even more cheaper for South African id card holders. Also cheap to convert the rand to $ on their platform.
If you are able to register successfully, try n invest in ETF.
Brokers here are well regulated.
They always hold the ceo/mgx of errant companies responsible.
Like a company that collapsed in jan/Feb (Steinhof), the parliament summoned their executive for a life drilling.
I wish ayeni, dozier pascal etal could face our dishonorable reps/Sen for a similar public drilling
Then, there would be improvement in their nonchalant attitudes at investors

.

onegentleguy:


U are only looking at a single factor (deriavable earnings to equity holders) in isolation.
To draw a BETTER INFERENCE in fundamental analysis, its ALWAYS BEST to look at several indices as a combination.
Let me try and do justice to a few.
Some KEY highlight:
▪ Improving ROAE. ...which prints 7.39% as at H1 2018. Given current indices, It's clear that this will grow above 10% by YE.
▪ fairly steady growth in interest and non-interest income. ...with the latter growing from just above 24% to 33% in 2018 over the corresponding period of last yr.
▪ Improving CAR. ...growing by near 33% from 10% to 13.27% as at H1 2018.
It's important to note that the re-commencement of the 50B bond program will still improve CAR by above 15%. WEMA has already raised the 1st tranche of funds via bonds.
▪ The bank also improved their Asset yield following from a better than expected loan growth. YoA currently prints at 18.24%. ...this is KEY.
▪ Management were also fairly efficient as NIM improved from approx 6% in 2017 YE to 7.24% by H1 2018.
▪ Improved LOAN GROWTH. ...coming from the back of a regressive position as at YE 2017 to 3.5% in H1 2018. The bank also expects this to hit 10% by YE.
▪ Improving customer deposit. ...from a previous all time low to 39% as at H1 2018.
With the banks present degree of Innovation, this line may well hit above 50% by YE.
▪ Despite a slightly higher OPEX and cost to income ratio, the bank still grew their net income line. ...which reflected in their ROAE, ROAA and Equity Multiplier.
Suffice to say that the main drivers for the increase in their expense line was as a result of their key technological developments and brand positioning efforts. (read the NTS)
...and so over a time adjusted basis, these innovations will most likely transform into higher earnings in TOPLINE.
▪ The bank has also been very innovative with the changing tides of the economy in other to better build on their interest income and net margin.
WEMA is currently one of the best fintech banks in Nigeria.
...their fintech space, ALAT presently speaks volume of the banks future earnings drive.

If one can read between the lines and properly dymisify these figures, u would see that WEMA is a BARGAIN at current market price !!
Needless to say that it is a GREAT GROWTH stock !!
...those who know, know what they need to continue to do.

I also remind u that the essence of the banks recent capital reduction exercise was to allow for dividend payment this year.
...the bank gave guidance to this when it said it will pay a dividend this yr before completing their bond raise.
NOTE: There is absolutely NOTHING like a planned share reconstruction. ...it's important not to put out false news.
WEMA is not the only bank with a high OS.

But I do agree that there are better bank coys in the market now. UBA, ZENITH, FCMB, and STERLING are currently selling at good bargains, but not STANBIC. Dont be deceived by the Nos from STANBIC. One of this days, I shall do an expose on that coy. Current price is at a premium to true valuation.

But folks should always remmember that due diligence is still advised as always.

Enough said.

Waooooooow!!! This is the kind of argument we need here.

Where are you wanajo and currenprice

Come defend your FA and TA!!!

Fidelity don show.. Not bad at all!

Thanks.

Are their money market instruments and mutual funds also open to non residents?

If yes can one invest through the brokers platform or one would need to open an account in another financial firm for that purpose?

Godlylifeoneart:


It is even more cheaper for South African id card holders. Also cheap to convert the rand to $ on their platform.
If you are able to register successfully, try n invest in ETF.
Brokers here are well regulated.
They always hold the ceo/mgx of errant companies responsible.
Like a company that collapsed in jan/Feb (Steinhof), the parliament summoned their executive for a life drilling.
I wish ayeni, dozier pascal etal could face our dishonorable reps/Sen for a similar public drilling
Then, there would be improvement in their nonchalant attitudes at investors

currentprice:





may be u sees wema for 58kobo as a cheap price, it actually expensive base on Q2. though anything can change in 2nd half of the year.

wema price 0.58 , eps 0.04 , pe 14.5 , roe 3% etc

STANBIC bank @ N44 is cheaper than this stock talkless of zenith , eti and so on

I don't agree with the bold.

The only reason stanbic is selling @44 is simply because the biggest investors are not offloading.

http://www.nse.com.ng/Financial_NewsDocs/23740_FIDELITY_BANK_PLC_FINANCIAL_STATEMENTS_SEPTEMBER_2018.pdf

OBAGADAFFI:


I don't agree with the bold.

The only reason stanbic is selling @44 is simply because the biggest investors are not offloading.

Is that the bone of contention sir?

CP is merely comparing Stanbic against Wema Bank based on their present price and financials.

currentprice:
http://www.nse.com.ng/Financial_NewsDocs/23740_FIDELITY_BANK_PLC_FINANCIAL_STATEMENTS_SEPTEMBER_2018.pdf

EPS 41K AS AGAINST 31K. Not bad as envisaged.

onegentleguy:


U are only looking at a single factor (deriavable earnings to equity holders) in isolation.
To draw a BETTER INFERENCE in fundamental analysis, its ALWAYS BEST to look at several indices as a combination.
Let me try and do justice to a few.
Some KEY highlight:
▪ Improving ROAE. ...which prints 7.39% as at H1 2018. Given current indices, It's clear that this line will grow to well above 10% by YE.
▪ fairly steady growth in interest and non-interest income. ...with the latter growing from just above 24% to 33% in 2018 over the corresponding period of last yr.
▪ Improving CAR. ...growing by near 33% from 10% to 13.27% as at H1 2018.
It's important to note that the re-commencement of the 50B bond program will still improve CAR by above 15%. WEMA has already raised the 1st tranche of funds via bonds.
▪ The bank also improved their Asset yield following from a better than expected loan growth. YoA currently prints at 18.24%. ...this is KEY.
▪ Management were also fairly efficient as NIM improved from approx 6% in 2017 YE to 7.24% by H1 2018.
▪ Improved LOAN GROWTH. ...coming from the back of a regressive position as at YE 2017 to 3.5% in H1 2018. The bank also expects this to hit 10% by YE.
▪ Improving customer deposit. ...from a previous all time low to 39% as at H1 2018.
With the banks present degree of Innovation, this line may well hit above 50% by YE.
▪ Despite a slightly higher OPEX and cost to income ratio, the bank still grew their net income line. ...which reflected in their ROAE, ROAA and Equity Multiplier.
Suffice to say that the main drivers for the increase in their expense line was as a result of their key technological developments and brand positioning efforts. (read the NTS)
...and so over a time adjusted basis, these innovations will most likely transform into higher earnings in TOPLINE.
▪ The bank has also been very innovative with the changing tides of the economy in other to better build on their interest income and net margin.
WEMA is currently one of the best fintech banks in Nigeria.
...their fintech space, ALAT presently speaks volume of the banks future earnings drive.

If one can read between the lines and properly dymisify these figures, u would see that WEMA is a BARGAIN at current market price !!
This bank has witnessed a remarkable turnaround in past few yrs. Needless to say that it is a GREAT GROWTH stock !!
...those who know, know what they need to continue to do.

I also need remind u that the essence of the banks recent capital reduction exercise was to allow for dividend payment this year.
...the bank gave guidance to this when it said it will pay a dividend this yr before completing their bond raise.

NOTE: There is absolutely NOTHING like a planned share reconstruction. ...it's important not to put out false news.
WEMA is not the only bank with a high OS.

But I do agree that there are better bank coys in the market now. UBA, ZENITH, FCMB, and STERLING are currently selling at good bargains, but not STANBIC. Dont be deceived by the Nos from STANBIC. One of this days, I shall do an expose on that coy. Current price is at a premium to true valuation.

But folks should always remmember that due diligence is still advised as always.

Enough said.

MInd you, stanbic ibtc is not just the stanbic equity that you are seen but equities of stanbic spread heavily in access bank. Gt bank, zenith, and the rest.
Stanbic is positioned to trade at the current price based on FA n TA
The bank is diversified in TB, FGN bond, state government bonds, n other liquid investments.
The bank exposure to toxic loans is one of the least in the industry.
I wish I had accumulated stanbic in early 2016 but missed out.
Too late, too expensive

onegentleguy:


U are only looking at a single factor (deriavable earnings to equity holders) in isolation.
To draw a BETTER INFERENCE in fundamental analysis, its ALWAYS BEST to look at several indices as a combination.
Let me try and do justice to a few.
Some KEY highlight:
▪ Improving ROAE. ...which prints 7.39% as at H1 2018. Given current indices, It's clear that this line will grow to well above 10% by YE.
▪ fairly steady growth in interest and non-interest income. ...with the latter growing from just above 24% to 33% in 2018 over the corresponding period of last yr.
▪ Improving CAR. ...growing by near 33% from 10% to 13.27% as at H1 2018.
It's important to note that the re-commencement of the 50B bond program will still improve CAR by above 15%. WEMA has already raised the 1st tranche of funds via bonds.
▪ The bank also improved their Asset yield following from a better than expected loan growth. YoA currently prints at 18.24%. ...this is KEY.
▪ Management were also fairly efficient as NIM improved from approx 6% in 2017 YE to 7.24% by H1 2018.
▪ Improved LOAN GROWTH. ...coming from the back of a regressive position as at YE 2017 to 3.5% in H1 2018. The bank also expects this to hit 10% by YE.
▪ Improving customer deposit. ...from a previous all time low to 39% as at H1 2018.
With the banks present degree of Innovation, this line may well hit above 50% by YE.
▪ Despite a slightly higher OPEX and cost to income ratio, the bank still grew their net income line. ...which reflected in their ROAE, ROAA and Equity Multiplier.
Suffice to say that the main drivers for the increase in their expense line was as a result of their key technological developments and brand positioning efforts. (read the NTS)
...and so over a time adjusted basis, these innovations will most likely transform into higher earnings in TOPLINE.
▪ The bank has also been very innovative with the changing tides of the economy in other to better build on their interest income and net margin.
WEMA is currently one of the best fintech banks in Nigeria.
...their fintech space, ALAT presently speaks volume of the banks future earnings drive.

If one can read between the lines and properly dymisify these figures, u would see that WEMA is a BARGAIN at current market price !!
This bank has witnessed a remarkable turnaround in past few yrs. Needless to say that it is a GREAT GROWTH stock !!
...those who know, know what they need to continue to do.

I also need remind u that the essence of the banks recent capital reduction exercise was to allow for dividend payment this year.
...the bank gave guidance to this when it said it will pay a dividend this yr before completing their bond raise.

NOTE: There is absolutely NOTHING like a planned share reconstruction. ...it's important not to put out false news.
WEMA is not the only bank with a high OS.

But I do agree that there are better bank coys in the market now. UBA, ZENITH, FCMB, and STERLING are currently selling at good bargains, but not STANBIC. Dont be deceived by the Nos from STANBIC. One of this days, I shall do an expose on that coy. Current price is at a premium to true valuation.

But folks should always remmember that due diligence is still advised as always.

Enough said.

MInd you, stanbic ibtc is not just the stanbic equity that you are seen but equities of stanbic spread heavily in access bank. Gt bank, zenith, and the rest.
Stanbic is positioned to trade at the current price based on FA n TA
The bank is diversified in TB, FGN bond, state government bonds, n other liquid investments.
The bank exposure to toxic loans is one of the least in the industry.
I wish I had accumulated stanbic in early 2016 but missed out.
Too late, too expensive now

kolaish:
EPS 41K AS AGAINST 31K. Not bad as envisaged.

Food well cooked!

mendes911:


Food well cooked!

with more than enough conduments. Already reflecting in the market price now.

mendes911:


Is that the bone of contention sir?

CP is merely comparing Stanbic against Wema Bank based on their present price and financials.

He actually compared it to Zenith


STANBIC bank @ N44 is cheaper than this stock talkless of zenith , eti and so on

kolaish:
EPS 41K AS AGAINST 31K. Not bad as envisaged.

Annualized?

OBAGADAFFI:


He actually compared it to Zenith


STANBIC bank @ N44 is cheaper than this stock talkless of zenith , eti and so on

"Talkless of Zenith...." Indirectly meaning that Zenith is by far cheaper than Stanbic.

DeRuggedProf:


Annualized?

..

kolaish:
with more than enough conduments. Already reflecting in the market price now.

That one na IGG. Let the people that knows the actual report wake up from sleep. Then we will know which route the reflection will go on their share price.

In my own opinion, I don't believe this result. Same shenanigans they played last year.

mendes911:


Before nko?

not annualized o

mendes911:


Food well cooked!

Mind you it is an audited result...