Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

[FCMB] Delay In Release Of Q3 Results Help Wipe Out N10 billion In Market Value

Nairametrics by Nairametrics
December 18, 2015
in Business News, Company News
FCMB Logo

FCMB log Source: Nairametrics Research

Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s bank holding group, FCMB is yet to release its 2015 9 Months results nearly 3 months after the end of the third quarter of the year. The company explained that the reason for the continuous delay is because the bank is carrying out an audit of its financial statements. Carrying out an audit in the third quarter of the year is not common as most banks either audit in their half-year or final year.

Nairametrics reached out to analysts who track the bank and they explain that the longer the audit takes the more worrying investors get. Speculations are already rife that the bank may be announcing a disappointing result at the end of the period. Their half-year results showed profits dropped 14% with loan impairments rising a whopping 47% year on year. The speculations along with the currency crisis facing the financial sector has cost the banking industry negatively with the index down by our 22% YTD and -14.8% QTD. FCMB shares has dropped 22.5% since September 30th 2015 shaving off about N10 billion in market capitalization.

Some analysts believe the delay in releasing the results may have contributed to the N10 billion drop in market value citing the fact that it was one of the better performers in the first half of the year. FCMB now has a market capitalization of N36 billion only.

RelatedPosts

Unilever Nigeria, FCMB partner Psaltry International to deliver Africa’s first cassava-based Sorbitol Factory

NGX extends decline by N137 billion as sell pressure intensifies

 

Related

Tags: fcmb

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • What crypto assets investors are buying in August amid ongoing bullish rally
    • Top 5 Nigerian insurtech startups by funds raised since 2021
    • ASUU strike: Governor Umahi says it is impossible for Nigeria to borrow N1.1 trillion to meet Union’s demand

    Follow us on social media:

    Recent News

    Top 5 cryptocurrencies to watch in May 2022

    What crypto assets investors are buying in August amid ongoing bullish rally

    August 11, 2022
    DEAL: Casava receives $4 million pre-seed to help Nigerians access insurance

    Top 5 Nigerian insurtech startups by funds raised since 2021

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com