Busola Jeje

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...

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...

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...

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 ...

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...

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...