First City Monument Bank Plc presented its Q2 earnings forecast for the period ended June 30th 2012 to the market today.
Proshare has reviewed the forecast against its believability index, relying on previous performances against forecast; to confirm the following:
That First City Monument Bank Plc has a -51% chance of achieving or exceeding its PAT forecast and a 138% chance of delivering on its Gross Premium projections for the period in view.
The significant loss of N9.9billion declared against N2.9billion forecast in Q4’11 had negative impact on this believability index considerably.
This weights fall within the 'most believable' forecast range for quoted companies in the sector.
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