External broker reports(aggregated public sources), CardinalStone

CardinalStone

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.

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

Ecobank Transnational Inc / Equity Bottom-Up

<ul><li>In H1’25, Ecobank Transnational Incorporated (ETI—TP: N45.58) delivered another strong performance under its GTR strategy, with PAT growing 22.7% YoY to $278.8 million.</li><li>The growth was underpinned by stronger revenue from both interest (+6.5% YoY) and non-interest income (+12.9% YoY).</li><li>Also, the bank’s deliberate focus on cost efficiency is beginning to yield visible outcomes with interest expense declining by 2.3%, and OPEX rising just 3.0% YoY.</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>

In H1’25, Ecobank Transnational Incorporated (ETI—TP: N45.58) delivered another strong performance under its GTR strategy, with PAT growing 22.7% YoY to $278.8 million.The growth was underpinned by stronger revenue from both interest (+6.5% YoY) and non-interest income (+12.9% YoY).Also, the bank’s deliberate focus on cost efficiency is beginning to yield visible outcomes with interest expense declining by 2.3%, and OPEX rising just 3.0% YoY.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.

ECOBANK TRANSNATIONAL INCORPORATED - Cost Efficiency and Asset Quality Improvements