Busola Jeje

Tellimer Research

Junior Research Analyst @ Tellimer Research

Busola joined Tellimer from United Capital Plc Group, where she was a research analyst with sole coverage of oil and gas companies as well as power companies. She has a BSc in Economics from Covenant University.

Busola Jeje
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Latest articles from Busola Jeje

Stanbic IBTC: Q2 21 – earnings continue to falter; we cut our target price

Stanbic IBTC’s Q2 21 profit numbers were significantly weaker than expected, even after the weak Q1. Net attributable profit fell 56% yoy, compared with our expectation of an 11% yoy increase. The CBN's persistent cash reserve ratio (CRR) debits cont...
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Busola Jeje @ Tellimer Research 17 September 2021

Access Bank: Q2 21 – Strong profits on higher net interest income and lower taxes

Access Bank reported positive numbers for Q2 21, evident by the 71% yoy growth in net attributable profit to NGN34bn, ahead of our NGN26bn estimate. Loan impairment charges were worse than expected, growing to NGN12bn from a reversal position of NGN4...
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Busola Jeje @ Tellimer Research 14 September 2021

Zenith Bank: Q2 21 – Retail banking drive remains in full force

Zenith Bank's Q2 21 results showed flat growth (-0.5% yoy) in net attributable profit to NGN53bn, which was slightly ahead of our expectations of NGN52bn. Across the group's revenue lines, net interest income was up 1% yoy vs 8% estimated, as we expe...
Tellimer Research Busola
Busola Jeje @ Tellimer Research 9 September 2021

Nigeria's central bank takes another swing at fintechs in the naira's defence

In the Central Bank of Nigeria's (CBN) quest to defend the naira, it recently blocked the bank accounts of four fintechs (wealth techs) for 180 days on the grounds of illicit FX dealings. According to reports, the CBN alleged that these fintechs are ...
Tellimer Research Busola
Busola Jeje @ Tellimer Research 27 August 2021
Nigeria's central bank takes another swing at fintechs in the naira's defence
Nigeria's central bank takes another swing at fintechs in the naira's defence

FCMB Group: Q2 21 – CRR debits and cost inefficiencies reduce earnings

For Q2 21, FCMB reported a profit decline of 20% to NGN4bn, worse than our expectations for a 15% drop. The group also recorded lower trading and FX revaluation gains (down 58% yoy), which was expected given the significantly lower scale of naira dev...
Tellimer Research Busola
Busola Jeje @ Tellimer Research 6 August 2021

FBN Holdings: FBN Holdings: Q2 21 – Management announces 2024 strategic plans; reiterate Buy

FBNH recently released its Q2 21 results, reporting a 75% growth in net attributable profit (from continued operations) to NGN22bn, close to our expectations of NGN21bn. Second, the group's loan impairment charges were lower than expected (down 26% y...
Tellimer Research Busola
Busola Jeje @ Tellimer Research 3 August 2021

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