Guys, Banks have started reporting. How were the results of ETI and UBA? WHen is GTB and Zenith expected to report?

X-2-X:




You may want to look at the NERC website (http://www.nercng.org/). You may find additional information about power in Nigeria there.

X!

Thanks man! I would surely go through this

I wanted to know is there any power company listed on NSE? I was collecting some data on electricity production in Nigeria and needed some reliable sources. Any help will be greatly appreciated.

jposuagwu:

Sanusi is not devaluing the naira for now. He is rather defending the naira at current rate. He has instead elected to increase CRR to 50% meaning banks must deposit 50% of govt funds in their vaults with the CBN. It is the banks that will be hit by this but trust the Nigerian banks, they have resistance. They will devise a way to wriggle out it. Presently bank shares are losing but they will all bounce bank in no time.

What does this mean for the interest rate environment? Does this mean loans will get more costlier? will rate on deposits increase?

Born 2be Rich:


We have to wait until is it officially published on the nse website

Thanks for replying! I just wanted to get an approximate idea. So they will post the reporting date 2-3 days in advance?

Born 2be Rich:




http://www.punchng.com/business/money/gtbank-to-buy-70-stake-in-kenyan-bank/

When is GTB reporting their 2Q results?

jideflash:

which is fina bank again o, cos i know fcmb acquired finbank. abi is fina bank a foreign bank

You can get more details on ThisDay website. http://www.thisdaylive.com/articles/gtbank-to-acquire-70-stake-in-kenyan-bank/153751/

Also I saw a news that GTB is acquiring Fina Bank for $100mn - is this a good acquisition? How does one analyze bank acquisitions?

chillykelly86: Sterling Bank PLC Q2 2013 results
You can follow the link below to view Sterling Bank's Q2 2013 results.
By the way, I think this result is H1 and not Q2, as reported. They mix all these things here in Nigeria.

I see no quarter on quarter growth in PAT.
What are your takes?
proshareng.com/news/20450

The results look good right? They have reported nice yoy growth for all metrics.

Guys any views on the results?

Hi Guys,

Just want to understand one thing - If this law is so good why is the government taking so long to make it a law? As far as I have read, PIB increases taxed which oil companies have to pay so naturally oil companies will be opposed to it.

What is the most latest update on this? When is the bill scheduled for the hearing?

Hi Guys,

I am not able to find the reporting dates of the banks - GTB/Zenith/FBN/UBA and ETI. I need to know the date when they will be releasing their 2Q13 results. If anyone knows please let me know.....

Also I heard Sterling bank reported their second quarter results - How were they? good or bad?

saanil: Hi Guys.

From where I can get the reporting dates for second quarter results for Guaranty Trust Bank/Zenith Bank/FBN Holdings/UBA and ETI? I want to know the dates when these banks will be releasing their 2q results..If anyone knows here please tell me.

Any help with the question above?

Hi Guys.

From where I can get the reporting dates for second quarter results for Guaranty Trust Bank/Zenith Bank/FBN Holdings/UBA and ETI? I want to know the dates when these banks will be releasing their 2q results..If anyone knows here please tell me.

Elai147:
However, this is due to its being a conglomerate firm (with banking operations in 33 African countries). According to recent consensus forecast, ETI will outperform the market and investors were advised to purchase equity in the company. I am sure investors will enjoy this coy in the long term.

Thanks for the link! That was very helpful.

Elai147:

ETI is the parent company of Ecobank and yes there was a merger. I used to have Ecobank shares but it's now ETI.

Any idea when did this merger happen? Also any views on the stock?

veeco vee: are you talking about ETI? i ve not seen ecobank on pricelist for a longtime now

Yeah - I am talking about ETI - is'nt that Ecobank?

veeco vee: Ecobank is ok but why were they delisted?

I do not think they are de-listed. I see from their annual report that they distribute their dividend in US cents. So they will be converted to naira while distribution or that is dependent on their individual shareholders. In that case, a weaker naira is helpful right?

What are your thoughts on Ecobank? How does it fare with other banks? how are the dividends in this bank?

frond:
However it doesn't make economic sense for the government to defend naira at 165.

Why? The CBN always wanted the exchange rate to be between 150-160. Now that exchange rate is moving further away from that range the CBN should be more hungry to protect it. Even I am wondering what actually CBN wants to do.

frond:

Naira to devalue more. Nigeria produces/supplies less oil now due to vandalism. The value of our currency in the medium term depends on the amount of oil we supply.

Isn't the devaluation cause for concern? Do you see it going to 165 versus the dollar?

Guys any ideas on the exchange rate? It has been quite volatile in the past few weeks - any idea where it is headed in coming time?

pleep: Are you serious?

Do you people really make that much return on these stocks?

Such returns were there last year. I am not sure about this year - that is what I am trying to find out.

Elai147:

I have no doubt the banking sector will do well this year- especially the ones you have listed, including Acess bank. They may not give 100% returns to investors but certainly close in the range. There are some of them that are good for long term.

Redoil: The way that mallam in cbn is controling banks is commendable to a greater extent. Execpt for wema bank i will suggest they are for the long term investment especially those you mention.

But the share prices of these banks have not been strong in the past few weeks. I know invessting in banks in a long term story but I think investors are waiting for quarterly results of banks to come out to see how much profit they are making this year.

Sanusi's contribution is commendable but he will be going from his post in 2014. I am not sure if the new guy who is going to come will be as good as him.

Also guys I wanted to know about the Excess Crude Account (ECA) in Nigeria. Few months ago there was disagreement as to how much money should be withdrawn from it - what was it all about?

Hi Guys,

What is your view on Nigerian banks - namley Guaranty Trust, Zenith, FBN Holdings, UBA and Ecobank? What is the outlook for banking sector. In FY12, these banks had a solid year but this year its just been UBA which has had a great rally. What do you guys think will happen to bank stocks in coming time?

Hello everyone,

Just wanted to know the agenda/affiliation of political parties in Nigeria wrt to the political spectrum. Which parties are left and which parties are aligned to the right? I know it is difficult to classify parties but is there a classification like Democrats/Republics of U.S. in Nigeria?

As far as I have read, PDP mainly relates to the right end of the spectrum. Where does APC stand? OR where do the following parties stand - ACN/CPC/ANPP/APGA?

Has Sanusi ever shown interest in joining Politics? Has he shown any affiliation to any political party? Is he inclined towards PDP or APC? I could not find any article where I could find his political affiliation. Does anyone here have any articles to prove so?

I admire Sanusi Lamido for the work he has done in Nigeria's Banking sector. DO you guys think he will make a good president?

I also read that Muhammadu Buhari and Nuhu Ribadu are potential candidates. What do you guys think of their chances?

Someone also told me that the current CBN governor is a possible candidate? Is it so? Sanusi Lamido has told that he does not want to extend his term as governor. Is it possible he might stand for the President?

Also has GEJ publicly announced his intention of contesting again for the Presidential post?

olatunji21:
Yea APC is bin formed by d merging of d
major opposition parties in Nigeria...
hope u are cleared

Clear. Thanks for explaining. The Nigerian politics will be one thing I will be following closely.

P.S. - I am new to the forum and had one question - I am not able to post in the Investment Section of this forum - where we discuss stock investments etc. Can someone tell me why?

olatunji21:
hello..dere is no yet a presidencial candidate..Fashola(APC) Vs GEJ(d incumbent president) are jst possible candidate
at d moment if FASHOLA(who happen to b d gov of one of d mst fasting growing cities in d world) is been pitched against d president i tink it will b a tight contest cus at d moment both av a negative public perception..
in all honesty i tink d presidnt might win...bt its really tight very very....
hope av bin able to help my bro in d diaspora??

Thanks for this. Any idea when will the political parties start pitching their presidential candidated? I assume it will be some time in 2014? Also I wanted to know which are the most important political parties in Nigeria? I have heard of PDP and APC. APC has been formed by merging 4 political parties right?

Hello again...

Can some one please enlighten me who are the possible presidential candidates?

Hello everyone,

I am a new joiner on this forum (am from India) and have just started following the political scene in Nigeria. I just had a few questions and was wondering if people here could help - As far as I have read - PDP and APC are the two most popular political parties in Nigeria - am I right here? Which are the other relevant parties in Nigeria?

I was searching online for the possible presidential candidates but could not come across any specific names. I am guessing this is because it is too early to say names. I would like to read more about the current political scene in Nigeria. Any comments would be greatly appreciated.