Wednesday, April 13, 2016 11:30 PM / CardinalStone Research
Ecobank Transnational Incorporated (ETI) FY'15 results just out - Gross earnings inched up by 10.9% to
N542.7 billion, underperforming our estimate (-11.6% deviation).
After tax earnings declined markedly by 67.6% to
N21.3 billion which also underperformed our estimate of N82.6 billion (-74.3% deviation) and consensus estimate of N76.04 billion (-72.1%).
EPS declined to
N0.56 from N2.81 in FY'14.
Total assets and net assets grew by 4.3% and 2.0% to
N4.69 trillion and N502.9 billion respectively. The bank declared a dividend of N0.40 per share.
At current price, the dividend implies a dividend yield of 2.88%.