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>First Holdco Plc (FIRSTHOLDCO: TP – N27.58) reported a 17.9% YoY decline in profit after tax (PAT) to N167.4 billion, in its unaudited Q1’25 results.</li><li>The performance was primarily weighed down by a sharp contraction in non-interest revenue (NIR), which offset the strong growth recorded in net-interest income (NII) and limited the expansion of gross earnings.</li><li>Furthermore, significant increases in operating expenses (OPEX) offset the gains from lower impairment charges, further pressuring net income.</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>

First Holdco Plc (FIRSTHOLDCO: TP – N27.58) reported a 17.9% YoY decline in profit after tax (PAT) to N167.4 billion, in its unaudited Q1’25 results.The performance was primarily weighed down by a sharp contraction in non-interest revenue (NIR), which offset the strong growth recorded in net-interest income (NII) and limited the expansion of gross earnings.Furthermore, significant increases in operating expenses (OPEX) offset the gains from lower impairment charges, further pressuring net income.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.

First Holdco Plc - PAT Moderates as NIR Weakens

First HoldCo

First Holdco Plc - PAT Moderates as NIR Weakens