Following the earnings release and subsequent conference call, we revise our earnings forecasts for ETI. In our view, FY’21E earnings is likely to reach a 7-year high of $292 million (vs FY’20: $85 million), driven by higher preprovision operating income (PPOI) and lower net impairments.
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CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer
The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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