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

<ul><li>FCMB Group Plc (NGX: FCMB: TP - UR*) delivered a strong performance in H1'25, with PAT rising by 23.4% YoY to N73.4 billion.</li><li>The impressive PAT growth was primarily driven by a 95.3% jump in net interest income (NII), which fueled a 34.1% YoY growth in operating income to N268.7 billion amid a 34.9% YoY decline in noninterest revenue (NIR).</li><li>The Group posted a 70.3% YoY increase in interest income, driven largely by the effective repricing of its loan book in response to the elevated interest rate environment. </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>

FCMB Group Plc (NGX: FCMB: TP - UR*) delivered a strong performance in H1'25, with PAT rising by 23.4% YoY to N73.4 billion.The impressive PAT growth was primarily driven by a 95.3% jump in net interest income (NII), which fueled a 34.1% YoY growth in operating income to N268.7 billion amid a 34.9% YoY decline in noninterest revenue (NIR).The Group posted a 70.3% YoY increase in interest income, driven largely by the effective repricing of its loan book in response to the elevated interest rate environment. 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.

FCMB GROUP PLC  - Effective Loan Book Repricing Bolsters PAT Growth