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>For FY'25, we maintain the view that FIRSTHOLDCO's earnings dynamics will highlight the rising shift towards interest income.</li><li>This tilt should reflect sustained increases in interest-earning assets amid the elevated yield environment.</li><li>The improvement in interest income is expected to flow through to Net Interest Income (NII)— assuaging pressures from interest expenses and softening the impact of the material contraction in non-interest revenue (NIR) as FX-induced gains on derivative holdings wanes.</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>

For FY'25, we maintain the view that FIRSTHOLDCO's earnings dynamics will highlight the rising shift towards interest income.This tilt should reflect sustained increases in interest-earning assets amid the elevated yield environment.The improvement in interest income is expected to flow through to Net Interest Income (NII)— assuaging pressures from interest expenses and softening the impact of the material contraction in non-interest revenue (NIR) as FX-induced gains on derivative holdings wanes.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 - Positive Earnings Outlook Drive Stock Re-Rating

First HoldCo

First Holdco Plc - Positive Earnings Outlook Drive Stock Re-Rating