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Published 2 May 2021
Ten of Nigeria’s commercial banks posted stock losses in the first three months of this year as N187.81bn was wiped off their combined market capitalisation, an analysis of data from the Nigerian Exchange Limited showed.
The affected banks are United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc, Ecobank Transnational Incorporated, Union Bank of Nigeria Plc, Fidelity Bank Plc, Wema Bank Plc, FCMB Group Plc and Jaiz Bank.
Four banks, namely FBN Holdings Plc, Guaranty Trust Bank Plc, Stanbic IBTC Holding Plc, and Unity Bank Plc saw their market value increase in Q1.
Vanguard News
GTBank grows deposit to N3.7trn in Q1’21
On
MONEY MARKET
Guaranty Trust Bank Plc has grown its total deposit for the first quarter ended March 31, 2021 (Q1’21) to N3.717 trillion, representing 3.0 percent increase compared to N3.611 trillion recorded in Q1’20.
The financial report of the bank for the period released in the Nigerian Exchange Limited, however, showed that the bank’s profit before tax dropped by 7.8 percent to N53.7 billion from N58.2 billion recorded in the corresponding period in Q1’20.
The bank’s Capital Adequacy Ratio (CAR) remained very strong, closing at 26.1 percent, while asset quality was sustained as Non-Performing Loan (NPL) ratio and Cost of Risk (COR) closed at 6.1 percent and 0.11 percent in March 2021 from 6.0 percent and 0.08 percent in March 2020 respectively.
Guaranty Trust Bank Plc has grown its total deposit for the first quarter ended March 31, 2021 (Q1’21) to N3.717 trillion, representing 3.0 percent increase compared to N3.611 trillion recorded in Q1’20.
The financial report of the bank for the period released in the Nigerian Exchange Limited, however, showed that the bank’s profit before tax dropped by 7.8 percent to N53.7 billion from N58.2 billion recorded in the corresponding period in Q1’20.
The bank’s Capital Adequacy Ratio (CAR) remained very strong, closing at 26.1 percent, while asset quality was sustained as Non-Performing Loan (NPL) ratio and Cost of Risk (COR) closed at 6.1 percent and 0.11 percent in March 2021 from 6.0 percent and 0.08 percent in March 2020 respectively.
Vanguard News
Analysts bullish on equities outlook
On
By Nkiruka Nnorom
The equities market has been jolted back to life after over two months of depressed trading and bearish run following bargain hunting in banking stocks as the first quarter (Q1) earning season kicks-off last week.
This is even as investment analysts have projected more bullish outlook against the background of the anticipated positive earning releases by the quoted companies.
According to analysts at Cowry Asset Management, investors would likely tweak their positions in favour of companies that record impressive earnings with the possibility of high dividend payout ratio as the results are released.
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