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

United Bank for Africa / Equity Bottom-Up

<ul><li>UBA is on course to deliver a FY’24E PAT growth of 10.7%, underpinned by a significant improvement in interest income (+122.2% YoY), which should offset a 31.4% contraction in NIR.</li><li>The growth in interest income is expected to reflect the positive impact of higher yields on the bank’s net interest margin (NIM) (+1.2ppts to 7.9%) and a complementary 72.2% increase in average interest-earning assets (IEA).</li><li>We expect this earnings momentum to extend into FY’25, supported by the impact of a 26.1% increase in interest income driven by the high-yield environment and an expansion in IEA that could reflect the impact of a weaker Naira on the translation of dollar-denominated assets.</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>

UBA is on course to deliver a FY’24E PAT growth of 10.7%, underpinned by a significant improvement in interest income (+122.2% YoY), which should offset a 31.4% contraction in NIR.The growth in interest income is expected to reflect the positive impact of higher yields on the bank’s net interest margin (NIM) (+1.2ppts to 7.9%) and a complementary 72.2% increase in average interest-earning assets (IEA).We expect this earnings momentum to extend into FY’25, supported by the impact of a 26.1% increase in interest income driven by the high-yield environment and an expansion in IEA that could reflect the impact of a weaker Naira on the translation of dollar-denominated assets.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.

United Bank for Africa Plc - Earnings Prospects Remain Robust