NCBA Group’s FY20 net earnings plummeted 41.7% y/y to KES 4.6B on the back of a 227.0% y/y surge in loan loss provisions to KES 20.4B. The Group announced a KES 1.50 dividend per share translating to a dividend yield of 7.8% on the current price of KES 12.80 with book closure slated for 20th April 2021. We maintain a BUY recommendation on NCBA with a target price of KES 30.29 offering a potential upside of 31.1% on the current price.
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AIB-AXYS Africa Ltd is the fusion of two established companies; AIB Capital Limited and Apex Africa Capital Limited, both with over 25 years of experience in the Securities market. With the solid reputation and experience of the professional teams, we leverage talent and networks to better service businesses and investors looking to capitalize on the African growth story, and its vibrant financial sector.
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