if the result is true. then the bank is the cheapest on nse

mendes911:


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

Oh, i get it , so sorry.

But STANBIC is not cheap.

I will check Stanbic PE Ratio latter.

for those that are still interested to know the details of how SKYE went under:

https://www.proshareng.com/news/REGULATORS/SkyeBank---The-Rise--The-Fall-And-The-Bridge/41946

currentprice:


not annualized o

Hmm. I still refuse to believe it shaaa. LOL.

mendes911:


Hmm. I still refuse to believe it shaaa. LOL.

that is the main concern, if they have this kind superb numbers why taking them much time to release. even with Audit

currentprice:
if the result is true. then the bank is the cheapest on nse

currentprice:


that is the main concern, if they have this kind superb numbers why taking them much time to release. even with Audit

It is not annualized and it is audited. I believe they waited for when there was a bounce given the oil price increase, to get the most of it! All na sense....

DeRuggedProf:

Go drag the bull out of your cage

currentprice:


that is the main concern, if they have this kind superb numbers why taking them much time to release. even with Audit

That is the spirit of Polar Bears.... .

CBN Gives Hope to Minority Shareholders of Defunct Skye Bank
https://www.businesspost.ng/2018/09/26/cbn-gives-hope-to-minority-shareholders-of-defunct-skye-bank/

Rising Oil Price: CBN Urges FG to Save to Avert Another Recession
https://www.businesspost.ng/2018/09/26/rising-oil-price-cbn-urges-fg-to-save-to-avert-another-recession/

Nigeria Smiles as Brent Crude Oil Crawls Towards $82 per Barrel
https://www.businesspost.ng/2018/09/26/nigeria-smiles-as-brent-crude-oil-crawls-towards-82-per-barrel/

mendes911:


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.

They are waking up one by one.

Drama still playing out at Fidelity arena..... some dont know whether to go right or left......
but the bid is growing again after Agba, oh sorry, Loco, oh sorry I mean Mpeace offloaded heavy volume

Mcy56:
Drama still playing out at Fidelity arena..... some dont know whether to go right or left......
but the bid is growing again after Agba, oh sorry, Loco, oh sorry I mean Mpeace offloaded heavy volume

It must have been MSCI which offloaded. No problem we will buy it from them and they will come back to buy it from us again....Life na turn by turn...

currentprice:
if the result is true. then the bank is the cheapest on nse

With the delay in Fidelity result, it was believed that it would be worst but the opposite was the case.
That's one of the reasons why investment is risky in itself cos despite those fears, some people were still buying then.
....but I guess they were forced to push out their report cos of the skye saga.

Momoney54:
It must have been MSCI which offloaded. No problem we will buy it from them and they will come back to buy it from us again....Life na turn by turn...

Lol. Na so. Don't underestimate the 'power' of Nsempa anyway.
The MSCI that can start buying back again, sometimes seems confused self.

currentprice:
if the result is true. then the bank is the cheapest on nse

Not at all !!
Even with this 0.41k EPS from FIDELITY, it still trails the 0.63k H1 from FCMB.
Fidelity banks H1 result shows a remarkable improvement, but given their current financial positions, I'll place FCMB, UBA and ZENITH ahead of FIDELITY !!
But that's just me.

DISCLAIMER: NOT to be interpreted as any sought of recommendation.

onegentleguy:


Not at all !!
Even with this 0.41k EPS from FIDELITY, it still trails the 0.63k H1 from FCMB.
Fidelity banks H1 result shows a remarkable improvement, but given their current financial positions, I'll place FCMB, UBA and ZENITH ahead of FIDELITY !!
But that's just me.

DISCLAIMER: NOT to be interpreted as any sought of recommendation.

dont know where 63k from fcmb come from, my bedsheet shows 28k

even with fcmb annualized, it still 56k

Spot on current price. Only fidelity is currently trading at a PE of 2. No other bank is that low at the moment!

currentprice:


dont know where 63k from fcmb come from, my bedsheet shows 28k

even with fcmb annualized, it still 56k

Yes I did another check, I think its 0.61k on a TTM. ...check that 'ur bedsheet' again
Depends on weather that of FIDELITY is actually annualized.
I shall take out some time to run an in-dept review of their H1 result later today.

Na Fidelity get today, well done sirs, we are following.......

I was just looking at fcmb 1.82,fidelity 1.72.you bera commot from road.overtaking is allowed.

Where do you get your TTM data from or do you project/estimate it?

onegentleguy:


Yes I did another check, I think its 0.61k on a TTM. ...check that 'ur bedsheet' again
Depends on weather that of FIDELITY is actually annualized.
I shall take out some time to run an in-dept review of their H1 result later today.

Just took another quick review of FIDELITYs H1 result... and YES I agree that FIDELITY is now ahead of FCMB based on EARNINGS GROWTH and of course VALUATION !!
However, I shall still take out some time to peruse more on the result for a clearer and better inference.

Thanks all !!

Infinitisi:
Where do you get your TTM data from or do you project/estimate it?

bloomberg has it @ 0.61 TTM

See as Caverton dey nosedive, searching for Skye Bank. Has it lost its remaining engine or did Skye Bank sky away with it.

Oopss..

mendes911:

See as Caverton dey nosedive, searching for Skye Bank. Has it lost its remaining engine or did Skye Bank sky away with it.

Oopss..

cc ogg

soloniger:
cc ogg

Don't know why you copied him anyway but he always advice DD I believe.......

Mcy56:

Don't know why you copied him anyway but he always advice DD I believe.......

My dear leave those Ogas.
People need to ALWAYS read btw the lines. I know a lot of them who are keen to buy, and are looking out for a price drop.
So u should expect that their views will be inclined in that direction. ...we know this things.

CAVERTON is NOT down. Price is still at the opening band of N1.93. No intraday day band yet. (high or low)
I am already VERY 'weaponized' to ACCUMULATE MORE if price drops. ...I WISH it does, 'cause whatever happens we are still very much in a sweet zone given our average entry price.

People WILL LOOK out for this stock at a far higher premium, BUT will not find it !!

.

onegentleguy:


My dear leave those Ogas.
People need to ALWAYS read btw the lines. I know a lot of them who are keen to buy, and are looking out for a price drop.
So u should expect that their views will be inclined in that direction. ...we know this things.

CAVERTON is NOT down. Price is still at the opening band of N1.93. No intraday day band yet. (high or low)
I am already very 'weaponized' to ACCUMULATE MORE if price drops. ...I WISH it does, 'cause whatever happens we are still very much in sweet zone given our average entry price.

People WILL LOOK out for this stock at a far higher premium, BUT will not find it !!

Oga OGG,
Why are you preventing sizeable offers from becoming available.
Are you among my village People?
One can not plan for his retirement in peace?
Did people listen to CP when there was bonanza fro CILeasing?

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.
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 coys 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 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 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.

Bought me some fide today.

Thanks to good analysts we have here.

More strength for your shoulders, I pray in J N

However, still waitg for the wema argument

cc wanajo, cp