External broker reports(aggregated public sources), CardinalStone

CardinalStone

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Equity Bottom-Up

<ul><li>Aided by a stronger Net Interest Margin (NIM) (+1.0ppt YoY) and higher fair value gains on financial instruments, FBNH reported a 2.1x surge in operating income to N1.5 trillion in 9M'24.</li><li>This impressive operating income print highlights the impact of a 76.3% YoY expansion in interest-earning assets (IEA) to N19.3 trillion and a 3.2ppts increase in asset yields that aligns with the elevated interest rate environment.</li><li>Hence, accounting for these improved gains as well as broadly stable core drivers, we revise our gross earnings and PAT projections to N3.1 trillion and N734.0 billion, respectively.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Aided by a stronger Net Interest Margin (NIM) (+1.0ppt YoY) and higher fair value gains on financial instruments, FBNH reported a 2.1x surge in operating income to N1.5 trillion in 9M'24.This impressive operating income print highlights the impact of a 76.3% YoY expansion in interest-earning assets (IEA) to N19.3 trillion and a 3.2ppts increase in asset yields that aligns with the elevated interest rate environment.Hence, accounting for these improved gains as well as broadly stable core drivers, we revise our gross earnings and PAT projections to N3.1 trillion and N734.0 billion, respectively.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FBN HOLDINGS PLC - Interest Income to Propel FY’25 Earnings

Fbn Holdings Plc  - Interest Income to Propel FY’25 Earnings

Nigeria

First HoldCo Plc operates as a holding company. The Company, through its subsidiaries, provides offers merchant, investment banking, trusteeship, fund management, registrars, and advisory services, as well as sells insurance policies and mortgages via subsidiary companies. First HoldCo serves customers in Nigeria.

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First HoldCo (FIRSTHLD NL)

FBN HOLDINGS PLC - Interest Income to Propel FY’25 Earnings

Aided by a stronger Net Interest Margin (NIM) (+1.0ppt YoY) and higher fair value gains on financial instruments, FBNH reported a 2.1x surge in...

CardinalStone

Fbn Holdings Plc - Interest Income to Propel FY’25 Earnings

Aided by a stronger Net Interest Margin (NIM) (+1.0ppt YoY) and higher fair value gains on financial instruments, FBNH reported a 2.1x surge in...

CardinalStone

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