Financial Services Sector Records 7 Gainers to 32 Losers YTD; LAWUNION Leads With 100% YTD Return

Proshare

Tuesday, April 28, 2020 04:20 PM / by Proshare Research/ Header Image Credit:  Vskills


 Proshare Nigeria Pvt. Ltd.


Financial Services Sector, no doubt, is one of the most active sectors on the Nigerian bourse. The sector accounted for 89.76% of the market volume traded before the lockdown and 81.67% of volume traded during the lockdown as at April 22nd, 2020.

 

A performance review of the stocks listed in the sector on the Nigerian Stock Exchange reflected that it has been bearish so far in the year. A review of the NSE Banking Index revealed that it has so far dropped by -25.88% YTD as against -15.74% YTD loss recorded by the NSEASI. This suggested the NSE Banking Index has so far underperformed the NSEASI in year 2020.

 

Table 1: NSEASI vs Banking Index YTD Returns

Indices

31-Dec-19

27-Apr-20

Return (%)

NSEASI

   26,842.07

   22,616.28

-15.74%

NSE Banking Index

         356.84

        264.48

-25.88%

Source: NSE, Proshare Research

 

Advancers and Decliners

A review of the gainers and losers within the financial services sector reflected that the sector recorded seven (7) gainers to thirty-two (32) losers. LAWUNION and CORNERST lead the list of gainers with +100% and +20% YTD returns as at April 27th, 2020.


However, ACCESS and STERLNBANK lead the list of the thirty-two (32) losers with -37.50% and -35.68% losses respectively.

 

Further analysis on advancers and decliners showed that financial services sector recorded more gainers and less losers during lockdown and otherwise before lockdown. 21 gainers to 7 losers were recorded during lockdown as at April 27th, 2020 as against 6 gainers to 25 losers.


 Proshare Nigeria Pvt. Ltd.


Table 2: Gainers and Losers YTD

Proshare Nigeria Pvt. Ltd.

Table 3: Gainers and Losers During Lockdown

SN

Ticker

26-Mar-20

27-Apr-20

Return (%)

1

LINKASSURE

0.41

             0.53

29.27%

2

NEM

1.72

             2.20

27.91%

3

LASACO

0.21

             0.26

23.81%

4

STERLNBANK

1.08

              1.28

18.52%

5

ZENITHBANK

12.10

           14.20

17.36%

6

STANBIC

24.30

           28.50

17.28%

7

WEMABANK

0.52

             0.60

15.38%

8

JAIZBANK

0.49

             0.56

14.29%

9

UBA

5.15

             5.85

13.59%

10

GUARANTY

18.00

          20.00

11.11%

11

NPFMCRFBK

1.15

              1.25

8.70%

12

UCAP

2.20

             2.39

8.64%

13

UNITYBNK

0.42

             0.45

7.14%

14

ETI

              4.20

             4.50

7.14%

15

AIICO

              0.75

             0.80

6.67%

16

FCMB

              1.50

              1.60

6.67%

17

LAWUNION

0.95

              1.00

5.26%

18

FBNH

              4.15

             4.35

4.82%

19

WAPIC

0.26

             0.27

3.85%

20

UBN

6.60

             6.75

2.27%

21

ACCESS

              6.15

             6.25

1.63%

22

ABBEYBDS

              1.05

              1.05

0.00%

23

AFRINSURE

             0.20

             0.20

0.00%

24

ASOSAVINGS

             0.50

             0.50

0.00%

25

CHIPLC

             0.30

             0.30

0.00%

26

DEAPCAP

              0.33

             0.33

0.00%

27

GOLDINSURE

0.20

             0.20

0.00%

28

GUINEAINS

0.20

             0.20

0.00%

29

INFINITY

1.36

              1.36

0.00%

30

INTENEGINS

0.38

             0.38

0.00%

31

MBENEFIT

0.20

             0.20

0.00%

32

NESF

552.20

        552.20

0.00%

33

NIGERINS

0.20

             0.20

0.00%

34

REGALINS

0.20

             0.20

0.00%

35

RESORTSAL

0.20

             0.20

0.00%

36

SOVRENINS

0.20

             0.20

0.00%

37

STACO

0.48

             0.48

0.00%

38

STDINSURE

0.20

             0.20

0.00%

39

SUNUASSUR

0.20

             0.20

0.00%

40

UNHOMES

3.02

             3.02

0.00%

41

UNIC

0.20

             0.20

0.00%

42

UNIVINSURE

0.20

             0.20

0.00%

43

VERITASKAP

0.20

             0.20

0.00%

44

FIDELITYBK

               1.81

              1.80

-0.55%

45

CUSTODIAN

              5.90

              5.75

-2.54%

46

AFRIPRUD

             3.80

             3.70

-2.63%

47

CORNERST

             0.58

             0.54

-6.90%

48

PRESTIGE

0.60

             0.55

-8.33%

49

ROYALEX

0.22

             0.20

-9.09%

50

MANSARD

1.75

              1.58

-9.71%

Source: NSE, Proshare Research

 

Table 4: Gainers and Losers Before Lockdown

SN

Ticker

31-Dec-19

26-Mar-20

Return (%)

1

LAWUNION

0.50

0.95

90.00%

2

CORNERST

           0.45

             0.58

28.89%

3

UBN

6.00

6.60

10.00%

4

PRESTIGE

0.55

0.60

9.09%

5

ABBEYBDS

            1.00

              1.05

5.00%

6

AIICO

           0.72

              0.75

4.17%

7

AFRINSURE

           0.20

             0.20

0.00%

8

ASOSAVINGS

           0.50

             0.50

0.00%

9

GOLDINSURE

0.20

0.20

0.00%

10

GUINEAINS

0.20

0.20

0.00%

11

INTENEGINS

0.38

0.38

0.00%

12

MBENEFIT

0.20

0.20

0.00%

13

NESF

552.20

552.20

0.00%

14

NIGERINS

0.20

0.20

0.00%

15

NPFMCRFBK

1.15

1.15

0.00%

16

REGALINS

0.20

0.20

0.00%

17

RESORTSAL

0.20

0.20

0.00%

18

SOVRENINS

0.20

0.20

0.00%

19

STACO

0.48

0.48

0.00%

20

STDINSURE

0.20

0.20

0.00%

21

SUNUASSUR

0.20

0.20

0.00%

22

UNHOMES

3.02

3.02

0.00%

23

UNIC

0.20

0.20

0.00%

24

UNIVINSURE

0.20

0.20

0.00%

25

VERITASKAP

0.20

0.20

0.00%

26

CUSTODIAN

           6.00

              5.90

-1.67%

27

INFINITY

1.39

1.36

-2.16%

28

AFRIPRUD

           4.00

             3.80

-5.00%

29

UCAP

2.40

2.20

-8.33%

30

MANSARD

1.98

1.75

-11.62%

31

FIDELITYBK

           2.05

               1.81

-11.71%

32

LASACO

0.25

0.21

-16.00%

33

DEAPCAP

           0.40

              0.33

-17.50%

34

FCMB

            1.85

              1.50

-18.92%

35

JAIZBANK

0.62

0.49

-20.97%

36

LINKASSURE

0.53

0.41

-22.64%

37

CHIPLC

           0.39

             0.30

-23.08%

38

WAPIC

0.34

0.26

-23.53%

39

ROYALEX

0.30

0.22

-26.67%

40

UBA

7.15

5.15

-27.97%

41

NEM

2.42

1.72

-28.93%

42

WEMABANK

0.74

0.52

-29.73%

43

FBNH

            6.15

              4.15

-32.52%

44

UNITYBNK

0.64

0.42

-34.38%

45

ZENITHBANK

18.60

12.10

-34.95%

46

ETI

           6.50

              4.20

-35.38%

47

ACCESS

         10.00

              6.15

-38.50%

48

GUARANTY

29.70

18.00

-39.39%

49

STANBIC

41.00

24.30

-40.73%

50

STERLNBANK

1.99

1.08

-45.73%

Source: NSE, Proshare Research

 

Ratio Analysis

A review of the EPS of the financial services stocks showed that NESF has the highest EPS ratio of 181.94 and closely followed by STANIC 29th 7.33 EPS. It is important to note that the EPS of  NESF is based on its 2018 Audited Results.


INTENEGINS and UNIC recorded negative EPS to lead otherwise.

 Proshare Nigeria Pvt. Ltd.

Table 5: EPS

Company

Last Price

Change

% Change

Quarter

Year End

EPS

NESF

552.2

0

0

Audited

31/03/2018

181.94

STANBIC

28.5

0

0

Audited

31/12/2019

7.33

ZENITHBANK

14.2

0.15

1.07

Audited

31/12/2019

6.65

POLARIS

0

0

0

Audited

31/12/2019

1.89

GUARANTY

20

0.7

3.63

Q1

31/03/2020

1.7

ETI

4.5

-0.1

-2.17

Q1

31/03/2020

1.35

ACCESS

6.25

0.05

0.81

Q1

31/03/2020

1.15

CUSTODYINS

3.93

0.18

4.8

Audited

31/12/2019

1.02

FIDELITYBK

1.8

-0.02

-1.1

Audited

31/12/2019

0.98

UBA

5.85

-0.05

-0.85

Q1

31/03/2020

0.88

FCMB

1.6

0

0

Audited

31/12/2019

0.88

UBN

6.75

0.2

3.05

Audited

31/12/2019

0.68

AIICO

0.8

-0.03

-3.61

Q3

30/09/2019

0.68

FBNH

4.35

0

0

Q1

31/03/2020

0.64

NEM

2.2

0

0

Audited

31/12/2019

0.45

STERLNBANK

1.28

0

0

Audited

31/12/2019

0.37

NPFMCRFBK

1.25

0

0

Q3

30/09/2019

0.32

MBENEFIT

0.2

0

0

Q3

30/09/2019

0.23

MANSARD

1.58

0

0

Q3

30/09/2019

0.2

CORNERST

0.54

0

0

Q3

30/09/2019

0.19

LAWUNION

1

0

0

Audited

31/12/2019

0.19

LINKASSURE

0.53

-0.05

-8.62

Audited

31/12/2019

0.18

AFRIPRUD

3.7

0

0

Q1

31/03/2020

0.17

UBCAP

2.89

-0.08

-2.69

Q1

31/03/2020

0.17

WEMABANK

0.6

-0.02

-3.23

Audited

31/12/2019

0.13

UNITYBNK

0.45

0

0

Q3

30/09/2019

0.13

REGALINS

0.2

0

0

Q3

30/09/2019

0.1

CONTINSURE

2.2

0

0

Q3

30/09/2019

0.1

LASACO

0.26

0.02

8.33

Q3

30/09/2019

0.09

PRESTIGE

0.55

0

0

Q3

30/09/2019

0.08

HMARKINS

0.3

0

0

Audited

31/12/2019

0.07

WAPIC

0.27

0

0

Q3

30/09/2019

0.07

SOVRENINS

0.2

0

0

Q3

30/09/2019

0.06

JAIZBANK

0.56

0

0

Q3

30/09/2019

0.04

STDINSURE

0

0

0

Q3

30/09/2018

0.02

ASOSAVINGS

0

0

0

Audited

31/12/2013

0.01

ABBEYBDS

1.05

0

0

Q3

30/09/2019

0.01

OMOSAVBNK

0.55

0

0

Audited

31/12/2019

0.01

UNITYKAP

0.23

0

0

Audited

31/12/2019

0.01

UNIVINSURE

0.2

0

0

Q3

30/09/2019

0.01

RESORTSAL

0

0

0

Q3

30/09/2015

0

STACO

0

0

0

Audited

31/12/2017

-0.01

EQUITYASUR

0

0

0

Audited

31/12/2019

-0.02

DEAPCAP

0.33

0

0

Q3

30/06/2019

-0.02

GOLDINSURE

0

0

0

Q3

31/12/2018

-0.03

NIGERINS

0.2

0

0

Q3

30/09/2019

-0.04

ROYALEX

0.2

-0.01

-4.76

Audited

31/12/2019

-0.04

UNHOMES

0

0

0

Q3

30/09/2015

-0.07

AFRINSURE

0.2

0

0

Q3

30/09/2019

-0.09

GUINEAINS

0.2

0

0

Q3

30/09/2019

-0.12

UNIC

0

0

0

Audited

31/12/2014

-0.26

INTENEGINS

0

0

0

Audited

31/12/2017

-1.75

Source: Proshare MARKETS

 

On PE Ratio, ABBEYBDS and OMOSAVBNK top the chart while DEAPCAP and NIGERINS lead otherwise with negative PE Ratio.

 

Table 6: PE Ratio

 

Company

Last Price

Change

% Change

Quarter

Year End

PE Ratio

ABBEYBDS

1.05

0

0

Q3

30/09/2019

78.97

OMOSAVBNK

0.55

0

0

Audited

31/12/2019

43.98

UNIVINSURE

0.2

0

0

Q3

30/09/2019

35.28

CONTINSURE

2.2

0

0

Q3

30/09/2019

22.77

AFRIPRUD

3.7

0

0

Q1

31/03/2020

21.65

UNITYKAP

0.23

0

0

Audited

31/12/2019

19.3

UBCAP

2.89

-0.08

-2.69

Q1

31/03/2020

17.49

JAIZBANK

0.56

0

0

Q3

30/09/2019

13.2

GUARANTY

20

0.7

3.63

Q1

31/03/2020

11.76

UBN

6.75

0.2

3.05

Audited

31/12/2019

9.89

MANSARD

1.58

0

0

Q3

30/09/2019

7.86

FBNH

4.35

0

0

Q1

31/03/2020

6.75

UBA

5.85

-0.05

-0.85

Q1

31/03/2020

6.65

PRESTIGE

0.55

0

0

Q3

30/09/2019

6.57

ACCESS

6.25

0.05

0.81

Q1

31/03/2020

5.43

LAWUNION

1

0

0

Audited

31/12/2019

5.35

NEM

2.2

0

0

Audited

31/12/2019

4.85

WEMABANK

0.6

-0.02

-3.23

Audited

31/12/2019

4.45

HMARKINS

0.3

0

0

Audited

31/12/2019

4.06

NPFMCRFBK

1.25

0

0

Q3

30/09/2019

3.9

STANBIC

28.5

0

0

Audited

31/12/2019

3.89

CUSTODYINS

3.93

0.18

4.8

Audited

31/12/2019

3.84

WAPIC

0.27

0

0

Q3

30/09/2019

3.71

UNITYBNK

0.45

0

0

Q3

30/09/2019

3.55

STERLNBANK

1.28

0

0

Audited

31/12/2019

3.48

ETI

4.5

-0.1

-2.17

Q1

31/03/2020

3.34

SOVRENINS

0.2

0

0

Q3

30/09/2019

3.32

NESF

552.2

0

0

Audited

31/03/2018

3.04

LASACO

0.26

0.02

8.33

Q3

30/09/2019

2.92

LINKASSURE

0.53

-0.05

-8.62

Audited

31/12/2019

2.92

CORNERST

0.54

0

0

Q3

30/09/2019

2.82

ZENITHBANK

14.2

0.15

1.07

Audited

31/12/2019

2.13

REGALINS

0.2

0

0

Q3

30/09/2019

2.04

FIDELITYBK

1.8

-0.02

-1.1

Audited

31/12/2019

1.83

FCMB

1.6

0

0

Audited

31/12/2019

1.83

AIICO

0.8

-0.03

-3.61

Q3

30/09/2019

1.18

MBENEFIT

0.2

0

0

Q3

30/09/2019

0.87

ASOSAVINGS

0

0

0

Audited

31/12/2013

0

EQUITYASUR

0

0

0

Audited

31/12/2019

0

GOLDINSURE

0

0

0

Q3

31/12/2018

0

INTENEGINS

0

0

0

Audited

31/12/2017

0

POLARIS

0

0

0

Audited

31/12/2019

0

RESORTSAL

0

0

0

Q3

30/09/2015

0

STACO

0

0

0

Audited

31/12/2017

0

STDINSURE

0

0

0

Q3

30/09/2018

0

UNHOMES

0

0

0

Q3

30/09/2015

0

UNIC

0

0

0

Audited

31/12/2014

0

GUINEAINS

0.2

0

0

Q3

30/09/2019

-1.67

AFRINSURE

0.2

0

0

Q3

30/09/2019

-2.2

ROYALEX

0.2

-0.01

-4.76

Audited

31/12/2019

-4.78

NIGERINS

0.2

0

0

Q3

30/09/2019

-4.79

DEAPCAP

0.33

0

0

Q3

30/06/2019

-18.86

Source: Proshare MARKETS

 

AFRINSURE and STANIC recorded the highest ROE of 0.33 and 0.25 while GUINEAINS and UNIC recorded negative ROE to lead otherwise.

 

Table 7: ROE

Company

Last Price

Change

% Change

PAT (mln)

Net Assets (mln)

% ROE

AFRINSURE

0.2

0

0

-1,871.00

-5,629.00

0.33

STANBIC

28.5

0

0

75,035.00

302,229.00

0.25

AIICO

0.8

-0.03

-3.61

4,693.00

19,471.00

0.24

ZENITHBANK

14.2

0.15

1.07

208,843.00

941,886.00

0.22

MBENEFIT

0.2

0

0

2,558.00

12,889.00

0.2

CORNERST

0.54

0

0

2,818.00

14,643.00

0.19

NEM

2.2

0

0

2,395.00

14,098.00

0.17

NPFMCRFBK

1.25

0

0

733.35

5,062.00

0.14

CUSTODYINS

3.93

0.18

4.8

6,012.00

44,739.00

0.13

NESF

552.2

0

0

135.72

1,109.00

0.12

FIDELITYBK

1.8

-0.02

-1.1

28,425.00

234,030.00

0.12

REGALINS

0.2

0

0

653.73

5,784.00

0.11

LAWUNION

1

0

0

802.78

7,155.00

0.11

JAIZBANK

0.56

0

0

1,250.00

13,109.00

0.1

WEMABANK

0.6

-0.02

-3.23

5,200.00

55,161.00

0.09

HMARKINS

0.3

0

0

600.32

6,614.00

0.09

STERLNBANK

1.28

0

0

10,602.00

119,558.00

0.09

FCMB

1.6

0

0

17,337.00

200,667.00

0.09

SOVRENINS

0.2

0

0

501.87

6,337.00

0.08

UBN

6.75

0.2

3.05

19,875.00

252,342.00

0.08

MANSARD

1.58

0

0

2,110.00

27,771.00

0.08

GUARANTY

20

0.7

3.63

50,067.00

661,066.00

0.08

LASACO

0.26

0.02

8.33

652.02

9,315.00

0.07

ACCESS

6.25

0.05

0.81

40,929.00

635,537.00

0.06

LINKASSURE

0.53

-0.05

-8.62

1,452.00

23,040.00

0.06

STDINSURE

0

0

0

314.02

5,330.00

0.06

WAPIC

0.27

0

0

972.89

18,054.00

0.05

PRESTIGE

0.55

0

0

450.67

8,390.00

0.05

UBA

5.85

-0.05

-0.85

30,101.00

612,638.00

0.05

UBCAP

2.89

-0.08

-2.69

991.29

20,718.00

0.05

AFRIPRUD

3.7

0

0

341.81

8,569.00

0.04

ASOSAVINGS

0

0

0

207.51

5,330.00

0.04

ETI

4.5

-0.1

-2.17

24,695.00

702,722.00

0.04

FBNH

4.35

0

0

23,140.00

680,346.00

0.03

CONTINSURE

2.2

0

0

1,002.00

29,791.00

0.03

OMOSAVBNK

0.55

0

0

62.53

2,649.00

0.02

UNITYKAP

0.23

0

0

165.26

8,563.00

0.02

ABBEYBDS

1.05

0

0

85.91

5,543.00

0.02

RESORTSAL

0

0

0

34.27

2,921.00

0.01

UNIVINSURE

0.2

0

0

90.71

9,541.00

0.01

UNITYBNK

0.45

0

0

1,482.00

242,567.00

0.01

UNHOMES

0

0

0

-67.51

-14,604.70

0

STACO

0

0

0

-107.24

3,655.00

-0.03

NIGERINS

0.2

0

0

-323.08

9,484.00

-0.03

ROYALEX

0.2

-0.01

-4.76

-215.34

4,887.00

-0.04

EQUITYASUR

0

0

0

-225.27

3,995.00

-0.06

GUINEAINS

0.2

0

0

-735.07

2,333.00

-0.32

UNIC

0

0

0

-681.97

932.15

-0.73

DEAPCAP

0.33

0

0

-26.24

0

0

GOLDINSURE

0

0

0

-149.26

0

0

INTENEGINS

0

0

0

-2,248.00

0

0

Source: Proshare MARKETS

 

NESF and NEM recorded the highest ROA of 0.11 and 0.09 while GUINEAINS and GOLDINSURE recorded negative ROA to lead otherwise.

 

Table 8: ROA

Company

Last Price

Change

% Change

PAT (mln)

Net Assets (mln)

% ROA

NESF

552.2

0

0

135.72

1,263.00

0.11

NEM

2.2

0

0

2,395.00

25,684.00

0.09

LAWUNION

1

0

0

802.78

12,149.00

0.07

HMARKINS

0.3

0

0

600.32

11,742.00

0.05

CUSTODYINS

3.93

0.18

4.8

6,012.00

118,018.00

0.05

LINKASSURE

0.53

-0.05

-8.62

1,452.00

28,704.00

0.05

STANBIC

28.5

0

0

75,035.00

1,876,456.00

0.04

ZENITHBANK

14.2

0.15

1.07

208,843.00

6,346,879.00

0.03

WAPIC

0.27

0

0

972.89

32,594.00

0.03

STDINSURE

0

0

0

314.02

13,428.00

0.02

POLARIS

0

0

0

26,290.00

1,156,644.00

0.02

AFRIPRUD

3.7

0

0

341.81

18,093.00

0.02

UNITYKAP

0.23

0

0

165.26

12,104.00

0.01

OMOSAVBNK

0.55

0

0

62.53

4,595.00

0.01

FIDELITYBK

1.8

-0.02

-1.1

28,425.00

2,114,037.00

0.01

GUARANTY

20

0.7

3.63

50,067.00

4,057,316.00

0.01

UBN

6.75

0.2

3.05

19,875.00

1,872,231.00

0.01

FCMB

1.6

0

0

17,337.00

1,668,506.00

0.01

STERLNBANK

1.28

0

0

10,602.00

1,182,685.00

0.01

WEMABANK

0.6

-0.02

-3.23

5,200.00

715,870.00

0.01

ACCESS

6.25

0.05

0.81

40,929.00

7,280,787.00

0.01

UBCAP

2.89

-0.08

-2.69

991.29

197,409.00

0.01

UBA