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

Guaranty Trust Holding Company / Equity Bottom-Up

<ul><li>Our revised gross earnings forecast is underpinned by a stronger outlook for interest income, supported by a sustained increase in Interest-Earning Assets (IEAs).</li><li>Precisely, we foresee a modest 5.3% YoY (+2.6% YoY previously) growth in gross earnings to N2.2 trillion.</li><li>The key driver of this growth projection is an expected 29.5% increase in FY'25 IEA compared to the 16.5% YtD expansion in H1'25. </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>

Our revised gross earnings forecast is underpinned by a stronger outlook for interest income, supported by a sustained increase in Interest-Earning Assets (IEAs).Precisely, we foresee a modest 5.3% YoY (+2.6% YoY previously) growth in gross earnings to N2.2 trillion.The key driver of this growth projection is an expected 29.5% increase in FY'25 IEA compared to the 16.5% YtD expansion in H1'25. 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.

Guaranty Trust Holding Company Plc - Renewed Loan Growth Momentum