NAIRAMETRICS| COMPANY EARNINGS – Page 20 – Investor Relation Reports: Results, Dividends, Reports, Financials

2021 HY Results: Fidelity Bank grows half year profit by 71% to N19.31 billion.

12 September 202112 September 2021 Chidi Emenike Leave a comment

Fidelity Bank Nigeria Plc released its interim results for the half year period ended June 30, 2021.

Gross earnings for the period under review totalled N112.3 billion.(+6.2% YoY)
Net interest income of N50.3 billion. (+4.1% YoY)
Personnel expenses totalled N11.1 billion. (-8.9% YoY)
Customers deposit at the period stood at N1.98 trillion
Profit for the period was N19.31billion. (+70.8% YoY)
Earnings per share of 67 kobo Vs 39 kobo YoY.
No dividend was announced in the period.

See link to results.

Royal Exchange Plc projects profit after tax of N70.16 million in Q4 2021.

10 September 202110 September 2021 Chidi Emenike Leave a comment

Royal Exchange Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

Net premium is projected to hit N368.5 million.
Total underwriting expenses projection of N348.7 million.
Net operating income is projected at N389.6 million.
Profit before tax is projected at N103.17 million
Tax is projected at N33.01 million
Profit after tax is projected at N70.16 million.

See link to results.

Linkage Assurance Plc forecasts profit after tax of N624 million in Q4 2021.

10 September 202110 September 2021 Chidi Emenike Leave a comment

Linkage Assurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

Gross Premium is projected to hit N1.13 billion.
Net claims projection of N336.7 million.
Net operating income is projected at N1.76 billion.
Profit before tax is projected at N640 million
Tax is projected at N16 million
Profit after tax is projected at N624 million.

See link to results.

Prestige Assurance projects N1.1 billion PAT in Q4 2021.

10 September 202110 September 2021 Chidi Emenike Leave a comment

Prestige Assurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

Turnover is projected to hit N9.25 billion
Profit before tax is projected at N1.39 billion
Tax is projected at N278 million
Profit after tax is projected at N1.11 billion.

The forecasts were made based on the following assumptions;

There will be no serious Government restrictions on trade that will affect the insurance business.
The company will not suffer any major catastrophe which will necessitate liquidation of investment portfolio for claims payment.
There will not be any considerable reduction in the level of interest rate.
The capital Market activities will improve significantly from the bearish position to the bullish.
The country political climate shall be stable for carrying out business activities across the nation.
The company will continue to deal with its present range of insurance policies.
The company will enhance its present treaty arrangement due to recapitalization.
The accounting policies will not change.
The basis of taxation will not change materially.
The company would maintain its present work force and additional hands will be employed to take care of increased business activities.
There will be vigorous effort to improve upon the present market share.
A part of the Proceed from recapitalization will be invested in government gilts to enhance investment income.
There shall be no protest, pandemic and other pandemonium which might affect business transactions negatively.
There will be availability of forex to meet up with the company’s obligation denominated in foreign currencies.

See link to forecasts.

Emeka Okonkwo, Union Bank CEO, Increases Stake in the Bank by N20.6 million.

10 September 202110 September 2021 Chidi Emenike Leave a comment

The Chief Executive Officer of Union Bank of Nigeria, Emeka Okonkwo, has increased his stake in the bank by acquiring an additional 3,951,874 units of the bank’s shares, worth N20.6 million.

According to a notice signed by the Company’s Secretary/General Counsel, Sonuyiwa Sonubi, the transaction took place at the floor of the Nigerian Exchange Limited (NGX), in Lagos, Nigeria.

The breakdown of the transaction showed that the accomplished banker purchased the aforementioned additional units of shares (3,951,874) at a unit price of N5.21 per share, totalling N20, 589,263.54

Recall that Mr. Emeka Okonkwo was appointed Chief Executive Officer of Union Bank in December 2020, and resumed by April 2021. He joined Union Bank in 2013 as an Executive Director in charge of the Corporate Banking and Treasury business, a role he held until his appointment as M.D/CEO.

Mr Okonkwo had joined the league of Union Bank’s biggest shareholders in May 2021, after he acquired an additional 2.4 million units of shares worth N11.9 million, thereby raising his total holdings in the bank to 8,094,748 units, translating to about 0.03% of the total shareholdings.

The recent transaction will further increase his stakes to 12,046,622 units of shares, placing him as the second highest individual shareholder of the bank, just behind the former CEO, Emeka Emuwa, who owns 196,086,583 units of direct and 20,936551 units of indirect shares in the bank.

Union Bank closed trading for the week ended 10th of September, 2021 with a share price of N5.05 per share.

United Capital appoints Tokunbo Ajayi as Non-Executive Director.

10 September 202110 September 2021 Chidi Emenike Leave a comment

The Board of United Capital Plc (UCAP) has today announced the appointment of Ms Tokunbo Ajayi to the Board, as a Non-Executive Director, effective immediately.

This is according to a notice signed by the company’s secretary, Leo Okafor, and made available on the website of the Nigerian Exchange Limited (NGX).

Until her recent appointment, Ms Ajayi was the MD/CEO of United Capital Trustees Limited.

About Ms Tokunbo Ajayi

Tokunbo Ajayi is a financial industry expert with over three decades of experience specifically in the trusteeship space. She qualified as a Barrister and Solicitor of the Supreme Court of Nigeria in 1986 and obtained a Bachelor of Law degree from the University of Ife (now Obafemi Awolowo University), Ile Ife in 1985. She is also an Alumna of Philips Consulting, South Africa Senior Management Programme, and the Columbia Business High School High Impact Leadership Programme.

Ms. Ajayi is a member of various prestigious bodies, including; The Nigerian Bar Association, International Federation of Women Lawyers (FIDA) Nigeria, the Business Recovery & Insolvency Practitioners Association of Nigeria (BRIPAN), Institute of Directors (IoD) Nigeria, and the Nigerian Institute of Management and British Council.

In 2014, she was awarded the Business Excellence Award by the African Business Forum in the United Kingdom as well as the African Entrepreneurship Award in 2018 by the Voice Achievers Awards in the Netherlands.

United Capital Plc is a leading financial services group in Africa focused on leveraging technology to empower businesses, individuals, and governments. It offers wide range of financial services like Investment Banking, Asset Management, Trusteeship, Securities Trading, Wealth Management, and Consumer Finance.

Sunu Assurances Nigeria forecasts profit after tax of N241.9 million in Q4 2021.

10 September 202110 September 2021 Chidi Emenike Leave a comment

Sunu Assurances Nigeria Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

Net premium income is expected to hit N3.04 billion during the period under review.
Net claims projection of N750.6 million.
Operating expenses projection of N1.55 billion.
Income tax is projected at N179.3 million.
Profit after tax is projected at N241.9 million.

See link to forecasts.