Nigeria | NGX

Fidelity Bank’s recently released its FY 2023 audited numbers showed significant y/y growth in Pre-tax profit, driven by significant growths in both Interest and Non-Interest Income. Interest Income grew 55.5% y/y, driven by expansion in earning assets and improved yields on assets. Net Loans to Customers were up 46.1% in December 2023 compared with the December 2022 position. Growth in Non-Interest Income on the other hand, was driven by foreign currency revaluation gains, trading gains and growth in several Fee Income lines.

Transcorp Power held a conference call on 15 April 2024 to review its recently released FY'23 financial results and provide guidance on the company's strategic initiatives for the future. Below are key highlights of the call. 

We initiate coverage on BUA Foods PLC (BUAFOODS) with a 12-month Target Price (TP) and projected market capitalization of N275.76 and N5.0 trillion, respectively. 

UBA’s FY 2023 audited numbers showed a strong 93.0% y/y growth in Interest Income to N1.1tn driven mainly by growth in Interest Income on Investment Securities, loans and on cash and bank balances.

GTCO’s FY 2023 audited numbers showed a 69.3%y/y growth in Interest Income to N550.8bn driven by growth in both average volume of earning assets and average yield.

UAC of Nigeria Plc (NGSE: UACN—potential upside: 26.2%) held a conference call on 4th April 2024 to review its recently released FY'23 financial results and provide guidance on the company's strategic initiatives for the future. Below are key highlights of the call.