Monday, April 11, 2016 7:30AM /Proshare Markets
Stocks listed in the banking sub-sector of the Nigerian Stock Exchange’s financial services sector can perhaps be referred to as the haven where some of the most liquid stocks are listed.
Due to the current economic challenges facing the country which has extended to businesses and households, a few banks have issued notices of profit warnings/guidance with some of the reasons given being on exposure to the oil sector due to low oil price at the international market.
Prominent among the banks that issued profit warning are FCMB, FBNH, DIAMONDBNK, ETI and SKYEBANK, as the share prices of some of them reacted to the news.
The Tier 1 Banks tops the list in terms of Gross Earnings with ZENITHBANK recording N432,535 mln as ACCESS and UBA came 2nd and 3rd respectively. Also, ZENITHBANK records the highest PAT figure of N105,663 mln as GUARANTY comes 2nd with N99,437 mln
FCMB tops other banks with N152,508 mln gross earnings figure as FIDELITYBK and UBN come 2nd and 3rd respectively. In terms of PAT, FCMB also tops with N22,133 mln while WEMABANK records the least Gross Earning and PAT figures.
However, Six (6) banks are yet to declare their 2015 Audited Results with two of the tier 1 banks making the list.