The outbreak of COVID-19 and the sharp downturn in crude oil prices have continued to stoke fears of a further devaluation in the Naira.
The company's cost of sales grew 13.2% y/y to N24.5 billion in Q1 2020, driven by double-digit growth in raw material cost.
Fidelity’s UNAUDITED report for Q1 2020 showed Interest Income growth of 11% y/y to N43.9bn, on the back of higher Interest Income on loans
Fidelity Bank Plc felt the impact of the downward adjustment in fees on banking transactions by Nigeria's apex bank, as Net Fee and Commission Income declined...
Interest Expense, on the other hand, declined 18% y/y to N8.9bn despite the 13% YTD growth in Customers Deposits
CBN recently adjusted the exchange rate for import duty payment from N326/$ to N361/$ as part of its efforts at achieving convergence in exchange rates
Guaranty's Q1 2020 unaudited numbers showed a 3.4% y/y growth in Interest Income, Interest Expense, on the other hand, declined significantly.
Stanbic’s Profit before tax increased 3% y/y to N90.9bn, slightly ahead of our FY 2019 estimate of N90.4bn.
Oil prices have continued its downward trend, with Brent crude falling below its average unit cost of production of c.US$23. T
UAC of Nigeria Plc released its FY2019 audited results over the weekend. We note that the comparative figures of FY 2018 were restated to align with...