June 2, 2023/Cordros Report Notably, intense buying activities on the first trading session of the holiday shortened week resulted in the market recording its biggest single-day gain (+5.2%) since 12 November 2020 (+6.2%). As such, the All-Share Index ended the week in the green, closing higher by +5.4% w/w at […]
Author: InvestAdvocate
FBN HOLDINGS Plc FY 2022 Initial Impression: Higher Cost Subdue Bottom-line
June 2, 2023/InvestmentOne Report Gross revenue of N805.13billion, up 37.13%q/q, up 6.32%y/y. Net interest income of N363.25billion, up 17.69%q/q, up 59.15%y/y. Profit before tax of N157.90billion, up 31.79%q/q, down 5.26%y/y. Profit after tax of N136.31billion, up 29.80%q/q, down 9.86%y/y. The long-awaited FY 2022 financial result for FBN Holdings was […]
Decline in FAAC payout in May
June 2, 2023/Coronation Research The latest gross monthly distribution for the Federation Account Allocation Committee (FAAC) to the three tiers of government and public agencies amounted to N655.9bn in May ’23 (from April revenue). This was a decline of -8.2% or N58.7bn from the previous payout and can be partly […]
