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September 22, 2019

Money Market Rates Crash As FAAC Inflows Bolster Liquidity

System liquidity opened the trading session tight at c.N40bn positive, causing money market rates to open at 15.00% levels. However, inflows from monthly FAAC disbursements later in the day eased funding pressures. OBB and OVN rates consequently closed the week lower at 6.43% and 7.57% respectively.

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September 22, 2019

UBA Pushes for Faster Growth; Top line Up 13.87%

UBA saw one of the banking sectors strongest top line growths in H1 2019 as gross earnings (GE) rose from N203.69bn in H1 2018 to N257.92bn in H1 2019, or what amounted to a Y-o-Y growth of +13.87% (see chart 1)

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September 22, 2019

GT Bank Targets Scale Not Size; H1 2019 Gross Earnings Down -2.1%

GT Bank, Nigeria's most profitable banking franchise by return on shareholders' equity (ROE), had a slow H1 2019. The bank saw its top line income dip -2.1% Y-0-Y

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September 22, 2019

FBNH Searches For Growth; H1 Operating Income Drops -0.3%

FBNH group is still in search of sustained earnings as its topline revenue remained flat between H1 2018 and H1 2019, growing by slightly over 0%. FBNH gross earnings grew by 0.3% to N294.23bn in 2019 H1 from N293.34bn in H1 2018

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