Browsing: UBA

Tier-1 Banks Pull ₦775 Billion Profits as Total Assets Hit N30 Trillion. Despite the slow growth in the economic, Tier-1 Banks were able to make the earnings season an impressive one.

Equity analysts advise investors to offload Unity Bank, Unilever, Guinness stocks. Equity pickers have advised investors to adjust portfolio with recommendation to Buy UBA, Sell UBN Hold FCMB, and Reduce Sterling but Accumulate Stanbic IBTC shares.

Stock market cap drops ₦12.2 billion due to sell-offs. The Nigerian Stock Exchange equities market capitalisation dropped by N12.2 billion on Tuesday to close at N14.3 trillion.

Fitch revises stance on Zenith, GTB, UBA, BOI to negative. Fitch Ratings, a global rating agency, has revised the outlooks on the Long-Term Issuer Default Ratings (IDR) of Zenith Bank, Guaranty Trust Bank Plc. United Bank for Africa Plc. and Bank of Industry Limited (BOI), to Negative from Stable and affirmed their IDRs at ‘B+’.

Deloitte faults application of IFRS 9 by Nigerian Banks. Many Nigerian banks applied International Financial Reporting Standard 9 impairment provisioning modelling differently, thereby making comparison a tough task, Deloitte Nigeria’s report has revealed.

Analysis of statements of financial position of Tier-I banks shows that their combined assets hit N26.797 trillion

Tier-1 Banks stocks in red as market brush off earnings performance

Expectation of strong earnings an insurance for stock YTD return

Tier 1 Banks cut 82% of industry’s Profits, account for 75% of Total Assets

Four Tier-1 Banks to increase loan books by ₦1.2 trn in 90 days. Despite the fact that they have big sizes, four banks in Tier 1 class failed to convert 60% of their deposits as loans and advances to customers, the first quarter 2019 results have shown.