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>Guaranty Trust Holding Plc (NGX: GTCO — TP: UR*), in its H1’25 financial results posted a 50.4% YoY decline in profit after tax (PAT) to N449.0 billion, largely on the back of a sharp decline in Non-Interest Revenue (NIR) to N282.1 billion (-62.9% YoY).</li><li>Notably, earnings per share (EPS) declined by 57.7% YoY to N13.59, reflecting the relative weakness in earnings and the dilutive impact of the higher weighted average number of shares of 32,470,054,000 (from 28,013,995,000 in the prior period).</li><li>During the period under review, an interim dividend of N1.00 per share (same as last year) was proposed, implying a payout ratio of 7.4% and a dividend yield of 1.1% on a share price of N90.00</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>

Guaranty Trust Holding Plc (NGX: GTCO — TP: UR*), in its H1’25 financial results posted a 50.4% YoY decline in profit after tax (PAT) to N449.0 billion, largely on the back of a sharp decline in Non-Interest Revenue (NIR) to N282.1 billion (-62.9% YoY).Notably, earnings per share (EPS) declined by 57.7% YoY to N13.59, reflecting the relative weakness in earnings and the dilutive impact of the higher weighted average number of shares of 32,470,054,000 (from 28,013,995,000 in the prior period).During the period under review, an interim dividend of N1.00 per share (same as last year) was proposed, implying a payout ratio of 7.4% and a dividend yield of 1.1% on a share price of N90.00Content 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 Plc - NIR Weakness Drives Earnings Contraction